US judges okay JPMorgan US$546m settlement

Customers of MF Global’s failed broker-dealer unit and the trustee overseeing its liquidation won court approval for a US$546 million (HK$4.2 billion) settlement with JPMorgan Chase.

The settlement, announced in March, resolved claims levied by James Giddens, the trustee winding down MF’s broker-dealer unit MF Global, and by the broker’s former customers, who are pursuing a federal class action over MF Global’s collapse in 2011.

via Business feed http://www.scmp.com/business/banking-finance/article/1275212/us-judges-okay-jpmorgan-us546m-settlement