Legal costs blast J.P. Morgan’s bottom line

The company sets aside $9 billion for legal costs, causing quarterly loss

J.P. Morgan’s financial woes continue to snowball, as the company’s decision to set aside $9 billion to add to a fund to address its continuing legal troubles has led to a rough quarterly report.

The company is staring down the barrel of what could be the largest ever settlement with the U.S. government over mortgage securities issues. The case is still ongoing, but reports have stated that J.P. Morgan could be on the hook for at least $11 billion in fines.

Senior Editor and Community Manager

author image

Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.