A U.S. judge said on Monday JPMorgan Chase & Co and Deutsche Bank AG must face lawsuits accusing them of enabling Jeffrey Epstein's sex trafficking.
The decision by U.S. District Judge Jed Rakoff in Manhattan could expose the banks to additional financial and reputational damage for keeping Epstein as a client, even after the late financier registered as a sex offender.
The judge also ruled that both banks must face proposed class actions by women who said Epstein sexually abused them. He said he would explain his reasoning in due course. The women can also try to show that the banks were negligent and obstructed enforcement of a federal anti-trafficking law.
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