JPMorgan settles WorldCom suit for US$2b


  • Business
  • Thursday, 17 Mar 2005

NEW YORK (AP) - JPMorgan Chase & Co., the nation's second largest financial institution, agreed to pay $2 billion (euro1.5 billion) to settle claims from investors who lost money in the collapse of WorldCom Inc. 

It was the last major bank to reach a settlement in the class action suit, though other defendants remain. 

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