Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Bank of America has settled a lawsuit filed by an anonymous woman over its ties with the late sex offender Jeffrey Epstein.
Lawyers for the bank and the woman told a judge that they had reached a “settlement in principle”, according to a court filing made public on Monday.
The woman, who said she was a victim of Epstein, had in October last year filed the case in Manhattan federal court under the pseudonym Jane Doe, seeking class-action status and financial damages.
In her complaint, she accused BofA of “participating in and financially benefiting from Jeffrey Epstein’s widespread and well-publicised sex-trafficking operation, as well as the direct financial benefits it received therefrom”.
The proposed settlement — which was agreed over undisclosed terms — is due to be approved by a judge at a court hearing in early April.
BofA declined to comment.
