A Big Enough Pot? A federal judge in Philadelphia is questioning whether a proposed $765 million settlement of NFL concussion claims will be enough money to cover 20,000 retired players. According to the Associated Press, Sol Weiss, a lead lawyer for the ex-players, “remained confident the class action settlement will ultimately be approved.” Mediator Layn R. Phillips, a former federal judge, has called the deal fair for both sides.
Broken Record: Rising legal costs ended JPMorgan Chase’s three-year streak of record annual earnings. The $2.6 billion settlement tied to Bernie Madoff’s Ponzi scheme reduced fourth-quarter profit by about $850 million, according to Bloomberg. It capped a year in which JPMorgan spent more than $23 billion on legal settlements.
