Bear Stearns, now a unit of JPMorgan Chase & Co., and a group of its directors and officers agreed on June 6 to pay $275 million in cash to settle a shareholder class action alleging that the defendants misled investors about its financial results during the run-up to the financial crisis. The settlement doesn’t appear to require individual defendants to make any payment out of their own pockets; presumably their contribution will be covered by directors and officers insurance. It must be approved by Southern District Judge Robert Sweet.
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