JPMorgan to pay $1.42B to Lehman Brothers
NEW YORK – JPMorgan Chase has agreed to pay $1.42 billion to settle allegations that it withheld critical funds from Lehman Brothers in the final days leading up to Lehman’s collapse during the financial crisis. Lehman’s failure is considered a critical moment in the financial crisis, one that helped deepen and extend the U.S. recession. As Lehman’s clearing bank, JP Morgan provided the cash that Lehman used to do business every day.