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3/16/2005
Late to the Party but Still Some Cake Left
Late to the Party but Still Some Cake Left
The Daily Caveat was just talking about this very subject - JPMorgan and Worldcom finally come to terms on a settlement, and its a big one.
Via Reuters:
-- MDT
Via Reuters:
JPMorgan Settles WorldCom Suit for $2 BillionRead the rest at MyWay.com.
Wednesday March 16, 4:31 PM EST
NEW YORK (Reuters) - JPMorgan Chase & Co. (JPM) agreed to pay $2 billion to settle a lawsuit accusing it of hiding risks from WorldCom Inc. investors when the bank helped the company sell bonds.
New York-based JPMorgan is the last major bank to settle the class-action lawsuit, which was filed on behalf of hundreds of thousands of investors who bought WorldCom stock and bonds before the phone company sought bankruptcy protection in July 2002.
-- MDT
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