Texas Attorney General Greg Abbott and 24 other state attorneys general today reached a $92 million agreement with JPMorgan Chase & Co. (JPMorgan) that will resolve the States' antitrust investigation into the bank's marketing of municipal derivatives, according to the lakeshoretimes.
Under the agreement, $65.5 million in restitution will be available to eligible state, local and not-for-profit entities that entered into municipal derivative agreements with JPMorgan between 2001 and 2005.
Today's settlement stems from a multi-year antitrust investigation into JPMorgan's efforts to artificially increase the price of municipal derivative products by unlawfully colluding with other financial institutions….
Find out more at http://www.lakeshoretimes.com/articles/2011/07/13/rowlett_lakeshore_times/news/7857.txt
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