New Jersey Attorney General Paula T. Dow Thursday announced that JPMorgan will pay the state $1.1 million and buy back auction-rate securities from New Jersey investors to resolve allegations that the bank failed to disclose the risks involved with the ARS market.

The $1.1 million payment is New Jersey’s pro-rata portion of a settlement agreement negotiated by a multi-state panel of state regulators formed by the North American Securities Administrators Association.

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