The Justice Department is pressing state attorneys general to release the banks fromliability for a host of alleged violations in exchange for a far-reaching settlement, people familiar with internal discussions said.
According to the Gibson update, not only does the Amnesty program release cooperating applicants from potential criminal liability, it prevents civil plaintiffs from recovering treble damages and protects civil defendants from joint and several liability.
Even so, state and federal officials are nearing a settlement that would release companies like Bank of America and JPMorgan Chase from legal liability in exchange for a cash settlement, reduced payments for homeowners, transition assistance for troubled borrowers and promises to improve performance and comply with state and federal rules.
This release includes forward-looking statements intended to qualify for the safe harbor fromliability established by the Private Securities Litigation Reform Act of 1995.
But the question remains does the fine print on the back of a ticket warning fans of possible injury from debris and that they acknowledge the track is not responsible for claims release event organizers of any liability?