JPMorgan Chase is expected to pay close to $100 million to settling an ongoing US anti-trust lawsuit case related to alleged fraudulent activity in the foreign exchange market.
"The settlement is a responsible step by Chase in addressing its involvement in the forex trading,'' Michael Hausfeld, a lawyer for investors, said in a phone interview with Reuters.
"It is a beginning with respect to the accountability of other banks engaged in the same trading."
The company has been at the center of speculation suggesting it may split up into smaller, separate companies. Although Chase officials have not made formal announcements about the future of their company, Goldman Sachs analysts have expressed that a breakup of the company is rational.
"A breakup could create value by reducing or removing JPM's 20%-plus discount to pure play peers and increasing capital returns and return on equity," a report released by the company reads, according to Forbes.
Chase fell victim to a security breach late last year, exposing sensitive customer information including names, addresses phone numbers and card digits. The incident was followed by subsequent investor discontent and a decrease in investment confidence.
Bank officials have since boosted security measures to prevent future hackings.
