JP Morgan settles $1.2bn case

JPMorgan Chase has settled a lawsuit accusing it of defrauding bond investors out of at least $1.2bn (£741m) through bad record keeping, court records show. Investors had accused JPMorgan of deleting records on $46.8bn of bonds from roughly 6,500 bond issues that had not been cashed in, and then covering up its mistakes. “Any party who presents a valid bond for payment will be paid,” a bank spokeswoman said.