NEW YORK – Hagens Berman Sobol Shapiro LLP, on behalf of the Class of BLMIS/Madoff customers has announced a settlement ("Class Action Settlement") of all potential claims against JPMorgan Chase Bank, N.A. and its parents, subsidiaries and affiliates ("JPMorgan").  The proposed Class Action Settlement will be contemporaneously presented by motions for approval to both United States District Court Judge McMahon and to Bankruptcy Court Judge Lifland.

The settlement of this Class Action is one part of a multi-part resolution of Madoff-related litigation against JPMorgan involving simultaneous, separately negotiated settlements, which include the Class Action Settlement in the amount of $218 million, the SIPA Trustee's Avoidance Action settlement in the amount of $325 million, and a resolution with the U.S. Attorney's Office for the Southern District of New York that includes a civil forfeiture in the amount of $1.7 billion.  The payments by JPMorgan in connection with these agreements will total $2.243 billion and will benefit victims of Madoff's Ponzi scheme.

If you wish to discuss this action or have any questions concerning this press release, or your rights or interests with respect to this matter, please contact:  Reed Kathrein, Esq. ([email protected]), 715 Hearst Ave., Berkeley California 94710, Telephone (510) 725-3000.

More information about the case can be found at http://hbsslaw.com/cases/jp-morgan-madoff-lawsuit. The filed case number is 11-cv-7866 (VM) (U.S. Dist. Ct., S.D.N.Y.).

# # #

About Hagens Berman
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
 
Contact:
Reed Kathrein, (510) 725-3000