Ohio Attorney General Mike DeWine announced the settlement agreement today. It comes in a 2012 class-action lawsuit that alleged JPMorgan Chase issued false and misleading statements regarding its trading activity, describing risky and speculative trading strategies as mere "hedges" or "risk management" devices.
Subsequent London Whale losses caused the bank's stock value to plummet. The Ohio Public Employees Retirement System lost $2.5 million. It joined similar funds in Oregon and Arkansas and Swedish pension fund AP7 as lead plaintiffs.