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

Blackstone's Studzinski to Depart as Gray Era Ushers in Change




JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News