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May 29, 2014

Justice Department Urges Judge to Throw Out Better Markets Lawsuit

“The Department of Justice has responded to a lawsuit brought by the public interest group Better Markets in February challenging the Department’s $13 billion settlement with JPMorgan Chase.

“Better Markets filed the lawsuit challenging the Justice Department’s authority to unilaterally enter into the unprecedented and historic $13 billion agreement with JPMorgan Chase, which was the largest settlement with a single entity in the nation’s history by more than 300%.

“The November 2013 agreement gave JPMorgan Chase – with no judicial review or approval – blanket civil immunity for years of alleged pervasive, egregious and knowing fraudulent and illegal conduct that contributed to the 2008 financial crash and the worst economy since the Great Depression.”

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Read full Corporate Crime Reporter article here

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