The Wall Street megabank JPMorgan Chase has agreed to a settlement with the Department of Justice which requires it to pay $13 billion. The settlement stems from charges the Justice Department had filed alleging securities fraud related to the way the company packaged mortgage-backed securities and sold them to its investors.
JPMorgan did not admit any guilt as part of the settlement, but it did sign a government statement of fact that said the bank knew its securities failed to meet underwriting guidelines and refused to alert investors.
This statement of facts might prove of value to those pursuing class action suits against JPMorgan Chase. At Colling Gilbert Wright & Carter, our securities fraud lawyers help people across the country who have been victimized by unethical or unscrupulous stock brokers and securities analysts.
If you would like to speak to one of our experienced securities fraud lawyers about your case, please call Colling Gilbert Wright & Carter today at 1-866-352-3476 for a free consultation.
The kind of securities fraud JPMorgan is accused of played a major role in creating the conditions that led to the collapse of the global financial markets in 2007 and 2008. The settlement makes clear that unethical banking puts the entire economy in danger.
Securities fraud cases are complicated and require years of experience. We have this experience. We’ll answer all of your questions about securities fraud and evaluate your case to determine if you have a viable claim.
If you’ve been the victim of securities fraud or other related financial malfeasance, you should speak to our attorneys immediately. Please contact Colling Gilbert Wright & Carter today for a free consultation.