JPMorgan offered $1M settlement before assault claims went viral, WSJ reports

JPMorgan (JPM) offered $1M to settle sexual assault and discrimination claims brought by a former investment banker before he refiled a lawsuit alleging misconduct within the bank, which JPMorgan disputes and says lacks merit following its internal investigation, The Wall Street Journal’s Alexander Saeedy reports. In a statement, a JPMorgan spokesman said “We did try to reach an agreement to avoid the time and expense of litigation and to support an employee who was being threatened with the very reputational harm now unfolding. We continue to believe these allegations have no merit and new information raised as a result of the public filing only reinforces that conclusion.”