Bank of America settles lawsuit by Epstein survivors
Change
Bank of America settled a civil lawsuit brought by women who accused the bank of facilitating their sexual abuse by Jeffrey Epstein.
Why it matters
The settlement requires approval from Judge Rakoff. Lawyers for both sides must submit legal papers by 27 March. A court hearing is scheduled for 2 April to consider approving the deal. The proposed class action was filed in October by a plaintiff using the pseudonym Jane Doe alleging the bank ignored suspicious transactions related to Epstein. Bank of America characterized the allegations as asserting routine services and described deeper-involvement claims as "threadbare and meritless."
Implications
- • Legal counsel for both sides must file settlement documents by 27 March.
- • Judge Rakoff must consider the settlement at a 2 April hearing before the settlement can become final.
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