JPMorgan Chase announced a tentative deal with sexual assault victims of Jeffrey Epstein, the deceased tycoon, on Monday, June 12 following weeks of damaging disclosures about the bank’s extensive ties with him.
One of the victims’ principal lawyers, David Boies, stated that the bank was willing to pay $290 million to settle the claim. The parties had initially agreed not to publish the settlement amount in their joint statement since it would be disclosed in a court file the following week.
The proposed settlement would resolve a complaint brought last November in Manhattan federal court by an unidentified lady on behalf of victims who were sexually assaulted by Mr. Epstein when they were teenage girls and young women during a 15-year span, according to the suit. The number of victims could potentially exceed 100.
In the statement, the bank and the lawyers for the victims said they had reached “an agreement in principle to settle” the lawsuit on behalf of the victims and the “settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse.”
