Southern District Judge Victor Marrero has ordered a group of state attorneys general not to disseminate notices about their $96 million portion of a $211 million settlement with JPMorgan Chase from an investigation of bid-rigging in municipal bond deals until he rules on challenges to related deals.
In March, Judge Marrero denied the request of plaintiffs in parallel multidistrict litigation to enjoin opt-in provisions in the state attorneys general portion of Bank of America’s $137 million deal with state and federal regulators, but he ruled that he would have to approve any settlement notices. The judge issued a similar order in May addressing a parallel challenge to the $160.3 million settlement that UBS reached with state and federal officials that month. Judge Marrero wrote Friday that a decision explaining the reasoning behind his March Bank of America order was “forthcoming.”
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