Bloomberg - JPMorgan ordered to pay $7.1m to widow

JPMorgan Chase

JPMorgan Chase was ordered to pay $7.1 million to the widow of a deceased American Airlines executive in a ruling that largely wiped out her portion of a Dallas jury’s $8 billion verdict against the bank for mismanaging the family estate.

Bloomberg News reports that the decision Wednesday by a Texas probate judge caps months of wrangling since the September jury award that was the highest in the U.S. for 2017.

Judge Brenda Thompson concluded a final judgment was proper under the circumstances and ordered the bank to pay $781,432 in actual damages; more than $5 million in lawyers’ fees; almost $1 million in exemplary damages; and more than $255,000 prejudgment interest on the actual damages.

Hit the link below to access the complete Bloomberg News article:

JPMorgan to Pay Widow $7.1 Million of Multibillion Verdict

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