Democratic Underground - J.P. Morgan won't face criminal antitrust prosecution in return for cooperation

J.P. Morgan won't face criminal antitrust prosecution in return for cooperation [View All]

Ichingcarpenter

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Fri Jul-08-11 01:30 AM
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J.P. Morgan won't face criminal antitrust prosecution in return for cooperation

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SEC alleges bank colluded with agents to win some auctions, lose others

-- J.P. Morgan won't face criminal antitrust prosecution in return for cooperation

-- J.P. Morgan says settlement payments won't materially affect earnings

(Updates with more details from complaint in fourth paragraph.)

NEW YORK (Dow Jones)--J.P. Morgan Chase & Co. (JPM) agreed to a $228 million settlement to charges it rigged nearly 100 transactions involving municipal bonds, federal and state authorities said Thursday.

It is the third, and largest, settlement reached with a bank in a continuing investigation into an alleged nationwide conspiracy to rig municipal-bond bidding processes. ...

http://online.wsj.com/article/BT-CO-20110707-712701.html

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J.P. Morgan won't face criminal antitrust prosecution in return for cooperation [View All]