Lehman Brothers Brokerage Claims Costs JP Morgan $800M

JP Morgan Chase & Company has reached a settlement for $800 million in cash and securities to settle claims brought by Lehman Brothers Holdings Incorporated’s brokerage, according to court documents and as reported in Investment News. Accordingly, the defunct Lehman Brothers Incorporated will distribute the money to investors, pursuant to the filing in a Manhattan Bankruptcy Court. Since most of the assets used to settle the case were set aside to await resolution of claims by the trustee who is liquidating what is left of Lehman’s brokerage firm, JP Morgan says the agreement will have no material financial impact on its financial health.

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