JPMorgan To Pay Madoff Victims $218M After Judge’s OK

A New York federal judge on Thursday finalized a $218 million settlement between JPMorgan Chase & Co. and victims of Bernard Madoff, ending a class action suit that accused the bank of turning a blind eye to the decadeslong Ponzi scheme. U.S. District Court Judge Colleen McMahon entered the final judgment and order dismissing with prejudice the claims brought by Paul Shapiro, Stephen Hill and Leyla Hill on behalf of themselves and other investors. The approval was expected after McMahon agreed preliminarily to the accord in January and held a hearing in March on the matter. More on Law360 here.