State attorneys general also raised concerns about the release of state claims under the Trafficking Victims Protection Act. James Grayson, representing 16 states and the District of Columbia, asserted that private parties lack the authority to release such claims.
Epstein Victims’ $290M Deal With JPMorgan : Judge Rakoff’s Deliberations
Navigating through legal complexities, Judge Rakoff found assurance in the settlement’s language, emphasizing that the release of claims provision only applies if legally permissible. Despite reservations about the sole discretion granted to claims administrator Simone Lelchuk, the judge ultimately approved the settlement.
Settlement Terms and Survivor Compensation
David Boies, counsel for the plaintiffs, clarified that survivors of Epstein’s abuse would receive a minimum payment of $75,000. However, concerns lingered about the lack of specificity compared to the Deutsche Bank settlement.
Epstein Victims’ $290M Deal With JPMorgan : Judge’s Prudent Measures
To address concerns, an agreement was reached for periodic updates from Lelchuk to Judge Rakoff about fund disbursement decisions, providing a layer of oversight to the settlement process.
Legal Milestone: Gratitude and Implications
Post-hearing, Sigrid McCawley of Boies Schiller expressed gratitude for the “historic settlement,” emphasizing its groundbreaking implications for holding financial institutions accountable for facilitating sex trafficking.
