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Company: JPMorgan Chase & Co.
Current Parent Company:
JPMorgan Chase
Parent at the Time of the Penalty Announcement:
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Penalty: $505,000,000
Year: 2015
Date: May 27, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: toxic securities abuses
Mega-Scandal:
Toxic Securities
Violation Description: JPMorgan Chase agreed to pay over $500 million to settle allegations that its subsidiary Bear Stearns had misrepresented the quality of mortgage-backed securities.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:08cv8093
Case Name: In re: Bear Stearns Mortgage Pass-Through Certificates Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data:
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Link to PACER Case Docket (must be logged in):
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Link to Archived Court Document:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.