JPMorgan and Deutsche Bank to Settle Libor Lawsuit for $148m

[kreslik.news]

JPMorgan and Deutsche Bank have agreed to settle Libor charges brought forward in two investor lawsuits. The banks will pay a total of $148 million under the terms of the agreement. The deal was approved by a New York federal judge.

JPMorgan will pay $71 million while Germany’s largest lender, Deutsche Bank will add $78 million. The news comes only a couple of months after a March ruling that some of the investors didn’t have standing to sue.

The case brought forward by one of the investors was dismissed, but only after a settlement agreement has been reached. An additional court hearing ... (read more)