Lehman settles JPMorgan claims

Lehman Brothers agreed with JPMorgan Chase to settle a $7.7bn (£5bn) claim stemming from collateral obligations after Lehman's bankruptcy filing, court documents show. JPMorgan provided various services to Lehman's primary broker-dealer unit prior to its bankruptcy filing in September 2008. As worries about Lehman's financial condition deepened, large blocks of the bankrupt investment bank's assets were left in the control of banks including JPMorgan.