JPMORGAN SETTLEMENT WITH EPSTEIN ACCUSERS DRAWS OBJECTION FROM US STATES

JPMorgan’s $290 million settlement with Jeffrey Epstein’s accusers has drawn an objection from many U.S. states, which say the accord could limit their ability to seek compensation for victims.

NEW YORK, Oct 23 (Reuters) – JPMorgan Chase’s (JPM.N) $290 million class-action settlement with Jeffrey Epstein’s accusers has drawn an objection from many U.S. states, which say the accord could limit their ability to seek compensation for sexual abuse victims.

In a letter made public on Monday in Manhattan federal court, the attorneys general of 16 states and Washington, D.C., complained about settlement language that prevents “any sovereign or government” from seeking damages arising from sex trafficking by Epstein and the late financier’s associates.

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The attorneys general said including such language without their consent would deter them from seeking damages for sex trafficking victims, not just Epstein’s, under the federal Trafficking Victims Protection Act.

They also said Deutsche Bank’s (DBKGn.DE) similar $75 million agreement with Epstein’s accusers did not contain the offending language.

“Jeffrey Epstein’s surviving victims should be fully compensated for the profound harm they have suffered,” New Mexico Attorney General Raul Torrez wrote. “However, as it now stands, the settlement agreement improperly seeks to release (the states’) claims for victim-specific relief.”