Daily News: January 31, 2014

Bloomberg: Madoff Victims’ Group Seeks to Forego JPMorgan Deal

Bloomberg reported Bernard Madoff victims asked to be excluded from JPMorgan Chase & Co. (JPM)’s $543 million settlement of lawsuits over the fraud so they can sue the bank on their own.

According to Bloomberg , 193 investors said in a filing in U.S. Bankruptcy Court in Manhattan that the accord between JPMorgan and Irving Picard, the trustee liquidating Madoff’s defunct company, doesn’t cover “net winners,” and asked for court permission to not be part of the settlement.

To read the entire Bloomberg , article, click here.