Litigation
Nov. 21, 2013
CalPERS and CalSTRS win $300 million in JPMorgan settlement
The public funds will receive a portion of the bank's $13 billion settlement with the Department of Justice. The money puts to rest an investigation into bad securities sold by the bank.
Daily Journal Staff Writer
As part of its record $13 billion settlement with the Department of Justice, JPMorgan Chase & Co. on Tuesday also laid to rest an investigation into bad mortgage-backed securities the bank sold to the California State Teachers Retirement System and California Public Employees' Retirement System. Under that portion of the deal, the finance giant will pay $300 million to the public employee and teache...
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