Morrisey announces $400,000 settlement from JPMorgan Chase & Co. - Beckley, Bluefield & Lewisburg News, Weather, Sports

Morrisey announces $400,000 settlement from JPMorgan Chase & Co.

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Woman suffers minor injuries after car rolls on I-77 in Raleigh County

    Woman suffers minor injuries after car rolls on I-77 in Raleigh County

    Wednesday, July 30 2014 10:13 PM EDT2014-07-31 02:13:55 GMT
    Car rolled multiple times on I-77 North in Raleigh County.Car rolled multiple times on I-77 North in Raleigh County.
    In Raleigh County, a woman is miraculously not seriously injured, after her car rolls over on I-77 around 6:30 Wednesday night.An eyewitness tells us the woman was driving in the left lane on the northbound side. She suddenly veered off the road, over corrected,then slammed into the side of a tractor trailer. The car rolled multiple times before coming to a stop on it's roof.The witness says two small dogs ran out of the car. Moments later, the woman crawled out and ran after one of the dogs....
    In Raleigh County, a woman is miraculously not seriously injured, after her car rolls over on I-77 around 6:30 Wednesday night.An eyewitness tells us the woman was driving in the left lane on the northbound side. She suddenly veered off the road, over corrected,then slammed into the side of a tractor trailer. The car rolled multiple times before coming to a stop on it's roof.The witness says two small dogs ran out of the car. Moments later, the woman crawled out and ran after one of the dogs....
  • UPDATE: Suspect in custody in connection with Montcalm shooting

    UPDATE: Suspect in custody in connection with Montcalm shooting

    Thursday, July 31 2014 7:16 PM EDT2014-07-31 23:16:53 GMT
     Emotions were high in Montcalm on Thursday following a shooting. Neighbors were not surprised to hear of the shooting in their area, because they say, violence is unfortunately all too common in their neighborhood.
    Emotions were high in Montcalm on Thursday following a shooting. Neighbors were not surprised to hear of the shooting in their area, because they say, violence is unfortunately all too common in their neighborhood.
  • Environmentalists talk about Mountain Top Removal as Coal Miners Protest in Pittsburgh

    Environmentalists talk about Mountain Top Removal as Coal Miners Protest in Pittsburgh

    Thursday, July 31 2014 6:59 PM EDT2014-07-31 22:59:03 GMT
    As hundreds of coal miners protest in Pittsburgh over the hearing on E-P-A regulations, 59News talks to an Environmental group to get both sides of the controversy."Coal River Mountain Watch" is a non-profit organization organization, out of Whitesville, Raleigh County.The organizations mission is to stop the destruction of our communities and environment by mountain top removal mining, to improve the quality of life in our area and to help rebuild sustainable communities.Mike Roselle a membe...
    As hundreds of coal miners protest in Pittsburgh over the hearing on E-P-A regulations, 59News talks to an Environmental group to get both sides of the controversy."Coal River Mountain Watch" is a non-profit organization organization, out of Whitesville, Raleigh County.The organizations mission is to stop the destruction of our communities and environment by mountain top removal mining, to improve the quality of life in our area and to help rebuild sustainable communities.Mike Roselle a membe...

JPMorgan Chase & Co. will pay $400,000 to settle an antitrust complaint filed by the attorney general's office.

JPMorgan was one of 22 banks and financial companies sued for allegedly rigging bids, fixing prices and manipulating the market for municipal derivatives, violations of the Sherman Antitrust Act and the West Virginia Antitrust Act. The company denies any wrongdoing, despite the decision to settle.

“We are pleased our Office could reach this settlement,” Attorney General Patrick Morrisey said. “Our office worked diligently on this case, including amending the complaint last year, and it is good to see the work pay off.”

The settlement closes all claims the Office of the Attorney General had against JPMorgan. The office settled with Royal Bank of Canada and Bank of America last year, and Morgan Stanley earlier this year.

Lawsuits against the remaining banks are ongoing.

The majority of the money from the settlement, minus attorney fees and costs, will go to state agencies that invested in municipal derivatives, including the West Virginia Hospital Finance Authority, the West Virginia Department of Highways, the West Virginia Water Development Authority, the City of Charleston Sanitary Board, and the West Virginia Housing Development Fund.

The Attorney General’s Office Antitrust Fund will receive approximately $60,000.