November 6, 2017 / 10:56 PM / 2 years ago

JPMorgan to pay $75 mln in 401(k) plan settlement

JPMorgan Chase & Co agreed to pay $75 million to settle claims it mismanaged workers’ 401(k) retirement funds by steering money intended for low-risk investments into funds that bought risky mortgages, causing hundreds of millions of dollars of losses.

The preliminary class-action settlement was filed on Friday night in Manhattan federal court following mediation, and requires approval by U.S. District Judge Vernon Broderick.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2AoV0wg

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