MENU
component-ddb-728x90-v1-01-desktop

American Airlines exec's children ask for less money in their inheritance

Photo: Lorenzo Giacobbo / CC BY-ND 2.0 via MGN Online

WASHINGTON (Sinclair Broadcast Group) -- Max Hooper was a former executive at American Airlines who created their seat reservation system. He unexpectedly passed away in 2010 leaving behind $19 million without a will.

JP Morgan Chase was in charge of distributing Hooper's money to his family but Hooper's wife Jo sued the bank after she claimed the bank took a long time releasing the money.

The Daily Mail reports that in September, a jury ordered JP Morgan Chase to pay $2 billion to each member of Hopper's immediate family totaling $8 billion.

Since the verdict, the ninth biggest in United States history, the heirs have asked for damages to be reduced to $74 million because $8 billion is excessive.

The bank still holds its position that they didn't do anything wrong.

"The law and evidence do not support any claim against JPMorgan, much less the unprecedented multi-billion-dollar punitive damage award, which the heirs have already admitted is unconstitutionally excessive," the bank said in a statement.

Trending