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JP Morgan reached a settlement with investors
JP Morgan has announced it reached a settlement with investors who lost money on mortgage securities.
A 4.5 billion dollar pay out will be made to those who suffered losses in the run-up to the financial crisis.
The deal relates only to transactions with JP Morgan and Bear Stearns and does not include securities associated with Washington Mutual.
The settlement must be approved by a court and from the trustees who managed the mortgage pools.