Tag Archives: Pension Funds

Goldman Sachs has agreed to pay approximately $270 million to resolve claims that it sold billions of dollars worth of faulty residential mortgage-backed securities to investors, according to multiple media reports.

A federal judge has approved JPMorgan Chase's $500 million settlement with four pension funds over the sale of faulty mortgage-backed securities by Wall Street investment firm Bear Stearns before the financial crisis, according to media reports. JPMorgan Chase, the nation's largest bank, acquired Bear Stearns in March 2008 at a stock-only price of $236 million, or $2 per share. In their lawsuit, the pension funds accused Bear Stearns of selling $17.6 billion worth of toxic mortgage-backed securities in the run-up to the crisis.