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NEW YORK, June 14 (Xinhuanet) -- JP Morgan Chase & Co. said Tuesday that
it would pay 2.2 billion US dollars to settle a class-action lawsuit by Enron
Corp.'s shareholders over its accounting fraud role in the energy trader's
scandal.
The agreement, confirmed by JP Morgan Chase & Co. and plaintiffs,
represented the largest settlement deal in lawsuits against those connected to
the energy trader's 2001 bankruptcy.
On June 10, Citigroup Inc. agreed to pay 2 billion dollars for a settlement
with Enron's investors.
JP Morgan Chase & Co., the third-largest US bank, was charged with
helping Enron set up partnerships that the company used to improperly boost
profits while moving billions of dollars of debt off its balance sheet.
Enron Corp., one of the largest US energy traders, sought bankruptcy
protection in 2001 after its financial scandal was exposed. Enditem
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