Delaware to get $20M in JPMorgan settlement

November 19, 2013 8:04:40 PM PST
Delaware is slated to receive almost $20 million as part of nationwide $13 billion settlement in which JPMorgan Chase & Co. acknowledged that it misled investors about risky mortgage-backed securities in advance of the 2008 financial crisis.

The settlement announced Tuesday with the Department of Justice is the largest ever between the U.S. government and a corporation. It also included settlements with New York, California and other states, including Delaware.

Delaware officials say the state's $19.7 million share of the settlement will be used for a variety of purposes, including compensating state entities for losses on investments.