More Big Banks to Pay Millions to InvestorsJuly 25, 2017 2:20 pm
Bloomberg reports that Deutsche Bank will pay $77 million and JPMorgan $71 million. They’ve also agreed to cooperate with investors suing other banks. The agreement, which has yet to be approved by a judge, also stipulates that neither company will admit wrongdoing.
Bloomberg points out that in 2016, Citigroup Inc. agreed to pay $23 million and later, HSBC Holdings Plc agreed to pay $35 million.
Other banks, among the original 21 banks and three brokerage firms in the suit, still remaining as defendants include UBS Group AG, Barclays Plc and Royal Bank of Scotland Group Plc.