Verdicts & Settlements

Towns, Colleges To Cash In On JP Morgan Settlement

Financial giant accused of anticompetitive practices in bond derivative market

, The Connecticut Law Tribune


Last year, JP Morgan Chase & Co. agreed to settle claims of anticompetitive and fraudulent conduct in the municipal bond derivatives industry for $92 million. According to Connecticut's Attorney General George Jepsen, the state will begin cashing in on the settlement. In all, 10 Connecticut municipalities, agencies or not-for-profit entities will collect more than $1 million in restitution. Those entities include Yale, Quinnipiac and Fairfield universities and the towns of Stratford and Fairfield.

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