US bank JPMorgan confirms $1 million settlement attempt in sexual assault case

• Former senior VP alleges that an executive used her seniority to coerce him into non-consensual sexual acts.
• JPMorgan attempted to resolve the dispute privately with a $1 million settlement offer.
• Lawsuit further alleges that members of the leveraged finance team subjected the plaintiff, who is of Asian descent.

A spokesperson for JPMorgan Chase confirmed on Wednesday, that the firm attempted to reach a private settlement with former investment banker Chirayu Rana before he filed a high-profile lawsuit.

According to reports from the Wall Street Journal, the bank offered $1 million during weeks of mediation in March 2026.

Rana, who filed the suit under the pseudonym "John Doe," reportedly rejected the sum.

His legal team allegedly countered with a demand for $11.75 million in April, a figure the bank refused to pay, leading to the public filing in New York state court last week.

Coercion, racial abuse

The lawsuit contains allegations against Lorna Hajdini, an executive director in JPMorgan’s leveraged finance division.

Rana, who is of Asian descent, joined the group as a senior vice president in March 2024.

He alleges that Hajdini used her seniority to coerce him into non-consensual sexual acts and threatened his career progression if he did not comply.

Furthermore, the suit claims the leveraged finance team subjected Rana to racial slurs and harassment.

After filing an internal complaint in May 2025, Rana was placed on administrative leave, a move his lawyers characterize as retaliation.

Executive defense

The bank has stood firmly behind Hajdini, stating that an internal investigation involving numerous employees found no evidence to support the claims.

"While we cannot comment on confidential discussions, we did try to reach an agreement to avoid the time and expense of litigation and to support an employee who was being threatened with the very reputational harm now unfolding," a spokesperson said.

Hajdini’s attorneys have called the claims a "complete fabrication," asserting that she and Rana never had any romantic or sexual relationship.

JPMorgan officials added that while other staff cooperated with their probe, Rana himself refused to participate or provide supporting facts before taking the matter to court.

"Substantial" offer under scrutiny

The $1 million offer has sparked debate among legal experts. Rana’s current attorney, Daniel Kaiser, noted that in his 30-year career, he has rarely seen a "substantial" offer made if a firm truly believed a case was a total fabrication.

Conversely, JPMorgan argues the settlement was a pragmatic attempt to shield the bank and its staff from a "viral" scandal.

The case is now proceeding in New York, where the public disclosure of Rana's identity has added a new layer of complexity to the ongoing litigation.