JPMorgan, Credit Suisse, Morgan Stanley agree to pay $100 million to settle suit over lender

JPMorgan Chase&Co. and two other investment banks have agreed to pay $100 million to settle a lawsuit over their contribution to investor losses in the collapse of American Business Financial Services Inc., the bankruptcy trustee’s lawyer said Friday.

The banks, including then-independent Bear Stearns, Credit Suisse Group and Morgan Stanley, deny any wrongdoing in settlement documents to be filed in a Philadelphia court, said lawyer Steven Coren of the firm Kaufman, Coren&Ress.

Read more from the AP

Related News

  • No Related Post

Leave a comment

Leave a Reply

Useful Information

Mortgage Calculators, Auto Loan Calculators, Personal Finance Calculators, Student Loan Calculators, Loan Modification, Loan Articles, Loan News