© Reuters. FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo
By Luc Cohen
NEW YORK (Reuters) – A U.S. judge on Thursday will weigh final approval of JPMorgan Chase (NYSE:)’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking.
At Thursday’s hearing at 4 p.m. EST (2100 GMT) in Manhattan federal court, U.S. District Judge Jed Rakoff will consider an objection to the settlement by 16 U.S. states and Washington D.C., which said it could limit their ability to seek damages arising from sex trafficking by Epstein and his associates.
Rakoff had granted preliminary approval in June, calling it a “really fine settlement.”
The settlement covered more than 100 women, led by a former ballet dancer known as Jane Doe 1, who said Epstein abused them.
It followed embarrassing disclosures that JPMorgan ignored internal warnings and overlooked red flags about Epstein because he had been a valuable client.
Epstein was a JPMorgan client from 1998 to 2013. The bank kept him on even after he was arrested in 2006 on…
Read the full article here