U.S. District Judge John Koeltl dismissed the suit because the investors did not file it in a timely fashion and did not prove that Madoff’s actions were controlled by JPMorgan, according to Bloomberg.
Due to Madoff’s fraud, JPMorgan has faced many lawsuits, paid $1.7 billion to settle charges brought by the government and paid $350 million for its failure to report the Ponzi scheme, according to Bloomberg.
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