JPMorgan Tried to Settle Assault Claims for $1 Million
JPMorgan Chase tried to reach a $1 million settlement with a former banker before he recently filed a lawsuit alleging sexual assault. The bank maintains the claims lack merit and says it sought to avoid the expense of litigation.
JPMORGAN CHASE & CO attempted to settle sexual assault and racial harassment claims for $1 million before a former investment banker filed a lawsuit recently. The bank made the offer to avoid litigation costs and reputational damage, according to a spokesperson. The case highlights the legal and brand risks facing major financial institutions regarding workplace conduct and executive oversight.
### Settlement Offer and Litigation Details The Wall Street Journal reported on Wednesday that the former banker rejected the $1 million offer and sought a higher payout. The plaintiff, identified as John Doe, filed the lawsuit in New York state court on Monday after a previous filing was withdrawn. The suit names both JPMorgan and leveraged finance executive Lorna Hajdini as defendants.
