In a courtroom drama reminiscent of high-stakes legal thrillers, a New York federal judge has given the green light to a groundbreaking $290 million settlement between JPMorgan Chase & Co. and victims of the late financier Jeffrey Epstein. The approval, accompanied by a substantial attorney fees award, marks a significant milestone in the legal battle against the financial giant’s alleged complicity in Epstein’s notorious sex trafficking operation.
Historic Approval: $290M Deal Gets Nod
U.S. District Judge Jed Rakoff delivered the final verdict during a riveting hearing in Manhattan. The settlement brings closure to a proposed class of women who accused JPMorgan of turning a blind eye to red flags and facilitating Epstein’s criminal enterprise from 1998 to 2013.
Epstein Victims’ $290M Deal With JPMorgan : Judge’s Praise and Legal Complexity
Commending the attorneys from Boies Schiller Flexner LLP and Edward Henderson Lehrman LLC, Judge Rakoff expressed awe at the swift resolution of such a complex case. “In my 27 years on the bench, I have not seen such a good settlement arrive in such a short order, of a case of similar complexity,” he remarked.
Emotional Objections and State Attorney General’s Concerns
Despite the momentous approval, the courtroom saw emotional objections from Sarah Ransome, a victim identified as Jane Doe #7. Ransome argued that the settlement falls short of justice, urging a more substantial deterrent against similar misconduct by the bank.
