JP Morgan reaches tentative deal with Epstein victims

JPMorgan Chase & Co on Monday said it had agreed in principle to settle a class action lawsuit with a victim of the dead sex offender Jeffrey Epstein.

The proposed deal would settle a suit filed last November in the Manhattan federal court by an unidentified woman on behalf of victims who were sexually abused by Epstein over period of 15 years when they were teenage girls and young women, the suit said.

It resolves one claim against the bank in a proposed class action by women who say Epstein abused them, and by the government of the US Virgin Islands, where Epstein owned two neighboring islands and allegedly abused victims in his mansion.

In the statement, the bank and the lawyers for the victims said they had reached “an agreement in principle to settle” the lawsuit on behalf of the victims and the “settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse”.

Litigation is still pending between the US Virgin Islands and the bank as are JPMorgan Chase’s claims against former executive Jes Staley, the bank added.

Reporting by Frank Prenesti for Sharecast.com