CalPERS recoups $261 mil from JPMorgan

A press release from CalPERS confirms that a federal investigation into JPMorgan's accused civil securities violation will yield a nearly $261 million settlement.

CalPERS suffered a loss of some $221.6 million due to investments in JPMorgan's mortgage-backed securities from 2005-07.

The settlement will cover CalPERS' entire loss in addition to interest.

For further details, see CalPERS official press release.