NEW YORK, April 10, 2002 (PRIMEZONE) -- Investors who purchased J.P. Morgan Chase & Co., Inc. ("JP Morgan" or the "Company") (NYSE:JPM) securities during the period from February 21, 1999 through January 28, 2002, both dates inclusive (the "Class Period") have until April 15, 2002 to file a petition with the court to become lead plaintiff in the securities class action.
A lawsuit filed in the United States District Court for the Southern District of New York seeks damages for violations of federal securities laws on behalf of all investors who purchased JP Morgan securities during the Class Period.
The Complaint charges that J.P. Morgan recklessly misrepresented its risk and loss exposure related to its transactions and dealings with the Enron Corporation as being approximately $900 million. J.P. Morgan later admitted that, in fact, its total Enron related exposure was actually about $2.6 billion, or almost three times the earlier figure. Shortly thereafter, J.P. Morgan wrote down $1.13 billion in nonperforming assets, specifically related to losses generated by its dealings with Enron.
To serve as lead plaintiff, you must meet certain legal requirements. You can join this action as a lead plaintiff online at www.rabinlaw.com. If you wish to discuss this action further or have any questions concerning this announcement, or your rights or interests, please contact plaintiff's counsel, Eric Belfi or Maurice Pesso, Rabin & Peckel LLP, 275 Madison Avenue, New York, NY 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, or by e-mail at: email@rabinlaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca