Customers of MF Global's failed broker-dealer unit and the trustee overseeing its liquidation won court approval on Wednesday for a $546 million settlement with JPMorgan Chase & Co., Reuters reported. The settlement, announced in March, resolved claims levied by James Giddens, the trustee winding down MF's broker-dealer unit MF Global Inc., and by the broker's former customers, who are pursuing a federal class action over MF Global's collapse in 2011. MF Global, the commodities brokerage headed by ex-New Jersey Governor Jon Corzine, filed for bankruptcy amid concerns by investors about its exposure to $6.3 billion in sovereign debt. Approval of the JPMorgan settlement comes a week after the Commodity Futures Trading Commission sued Corzine over the collapse and announced a $100 million settlement with MF's broker-dealer.
