(Bloomberg) -- JPMorgan Chase & Co. agreed to pay $150million to settle investor claims that it hid from them as much as$6.2 billion in losses caused by a trader dubbed the LondonWhale.
A group of pension funds accused JPMorgan ofturning its chief investment office in London into a “secret hedgefund” that caused the losses. The bank told investors that theoffice’s primary role was managing risk when in fact it wasengaging in trades to generate profit, they said.
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