J. P. Morgan Chase to Pay Investors $2.2 Billion - New York Times

J. P. Morgan Chase to Pay Investors $2.2 Billion - New York Times:

"J. P. Morgan Chase announced last night that it had agreed to pay $2.2 billion to Enron investors who accused the bank of participating in the accounting scandal that led to Enron's collapse.

The agreement came just days after Citigroup reached a $2 billion settlement. While the settlements with two of Enron's biggest lenders closes one chapter, other investment banks - including Merrill Lynch and Credit Suisse First Boston - still face claims from investors.

Combined with earlier settlements, the pool available to compensate investors who lost billions as Enron tumbled into bankruptcy in 2001 has grown to $4.7 billion and could eventually surpass the $6.13 billion that Wall Street firms have agreed to pay WorldCom investors."