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File the next story with the late Senator Everett Dirksen’s quip, "A million here, a billion there, pretty soon, you're talking real money".
On March 22, 2012, Reuters reported, “JPMorgan Chase quietly paid $384 million [$373.3M plus interest] to American Century Investment Management after losing an arbitration over accusations of breaches related to the bank’s purchase of a retirement plan services business.” The dispute related to JPMorgan Chase’s purchase of American Century, and allegations that JPMorgan Chase promoted its own funds at the expense of American Century’s, in breach of contract.
Confidential until March 21, the arbitration award was made on August 10, 2011, and confirmed by a Missouri court on December 6, 2011.
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