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In reply to the discussion: STOCK MARKET WATCH -- Thursday, 17 January 2013 [View all]Demeter
(85,373 posts)15. JPMorgan settles lawsuit against "Whale" boss
http://news.yahoo.com/exclusive-jpmorgan-settles-lawsuit-against-whale-boss-source-181704240--sector.html
LONDON (Reuters) - JPMorgan Chase & Co has reached an out-of-court settlement over its lawsuit against the former boss of Bruno Iksil, the trader known as the "London Whale" for huge bets he took that cost the bank $6.2 billion, a person familiar with the matter said.
Javier Martin-Artajo, who was Iksil's immediate supervisor, had been named as a defendant in a lawsuit filed at London's High Court on October 22.
JPMorgan said last July it was seeking to claw back pay from those people it held responsible for the losses. Details of the action against Martin-Artajo were not released.
A source familiar with the lawsuit said on Wednesday the case against Martin-Artajo had now been settled.
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LONDON (Reuters) - JPMorgan Chase & Co has reached an out-of-court settlement over its lawsuit against the former boss of Bruno Iksil, the trader known as the "London Whale" for huge bets he took that cost the bank $6.2 billion, a person familiar with the matter said.
Javier Martin-Artajo, who was Iksil's immediate supervisor, had been named as a defendant in a lawsuit filed at London's High Court on October 22.
JPMorgan said last July it was seeking to claw back pay from those people it held responsible for the losses. Details of the action against Martin-Artajo were not released.
A source familiar with the lawsuit said on Wednesday the case against Martin-Artajo had now been settled.
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