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U.S. Judge OKs JP Morgan $218 Million Madoff Class-action Settlement

Reuters – A federal judge on Friday [March 21] gave final approval to JPMorgan Chase & Co.’s $218 million settlement to resolve class-action litigation accusing the largest U.S. bank of playing a central role in the huge Ponzi scheme of former client Bernard Madoff.

U.S. District Judge Colleen McMahon in Manhattan said the accord “easily meets the standards” for final approval, and provides “substantial and immediate” benefits to the swindler’s former customers.

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