Link

California officials say they ‘got every penny’ they demanded from JPMorgan for manipulative energy trades

California officials say they ‘got every penny’ they demanded from JPMorgan for manipulative energy trades

California energy officials said today they got “every penny” they demanded in a $410 million settlement paid by JPMorgan Chase & Co. over manipulative electricity trades.

JPMorgan, in a deal announced by the Federal Energy Regulatory Commission, will cough up $124 million in profits to California ratepayers. In addition, the big bank agreed not to fight California officials over $262 million in disputed profits that had already been recouped by the state or were never paid to JPMorgan in the first place.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s