JPMorgan Chase has settled a class action suit from Jeffrey Epstein's sexual abuse victims.
The victims had accused the bank of enabling sex trafficking by the deceased financier when he was a client.
A joint statement from the nation's largest bank and attorneys for the victims said they "have informed the court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein's crimes." The agreement is subject to court approval, and the amount of the settlement was not disclosed.
The bank and the victims' lawyers said the settlement is in the best interests of all parties, "especially the survivors who were the victims of Epstein's terrible abuse," they said in the statement.
Litigation is still pending between the US Virgin Islands and the bank. JPMorgan Chase continues to pursue its case against Jes Staley, a former JPMorgan executive and ex-Barclays CEO who the suit said is largely responsible for JPMorgan's 15-year financial relationship with Epstein.
Terms of the settlement agreement were not disclosed. Victims of Epstein had previously reached a $75 million settlement with Deutsche Bank.
This is a developing story and will be updated.
