Nazareth Area School Board accepts $29,000 in swaption settlement

http://www.lehighvalleylive.com/nazareth/index.ssf/2012/08/nazareth_area_school_board_acc.html FROM THE EXPRESS TIMES The Nazareth Area School Board has accepted $29,282 as part of JPMorgan Chase & Co.'s ongoing out-of-court settlements over claims the global financial firm rigged municipal bond and swap deals in 31 states. School board members this evening voted unanimously to accept a settlement that was negotiated by the 25 state attorneys general and JPMorgan Chase. The district, along with various other organizations and municipalities, had been named as victims. There was no discussion on the issue. The Bethlehem Area School District on Aug. 13 also settled with the banking giant for $1.4 million. That district had lost at least $20 million to terminate most of its variable-rate bond and swap deals and issue new fixed-rate bonds, Bethlehem Area district officials said.