JPMorgan Chase has reached a settlement in a class action suit from victims of sexual abuse committed by Jeffrey Epstein.
The suit alleged that the bank enabled the now-deceased Epstein’s sex trafficking when he was a client.
The settlement was not disclosed, but a joint statement from the bank and the victims said that they “informed the court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes.”
The agreement, now subject to court approval, is in the best interest of all involved, the statement said, “especially the survivors who were the victims of Epstein’s terrible abuse.”
The settlement follows a previous $75 million settlement that the victims of Epstein reached with Deutsche Bank.
However, JPMorgan is still pursuing its own case against its former executive and former Barclays CEO Jes Staley. The bank’s suit alleges that Staley is primarily responsible for the 15-year relationship between JPMorgan and Epstein.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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