NEW YORK, Feb. 20, 2002 (PRIMEZONE) -- Please take notice that the law firm of Kirby McInerney & Squire, LLP has commenced a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of J.P. Morgan Chase & Co. (NYSE:JPM) stock during the period November 28, 2001 through January 28, 2002, inclusive (the "Class Period").
A copy of the complaint is available from the Court or from Kirby McInerney & Squire's website at www.kmslaw.com. You can also contact us by email at dtran@kmslaw.com, or by phone at (888) 529-4787
The Complaint charges J.P. Morgan with violations of federal securities laws. The complaint charges that on the first day of the Class Period, 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.
Plaintiff is represented by Kirby McInerney & Squire, LLP, which specializes in complex litigation, including securities class actions. The firm has repeatedly demonstrated its expertise in this field, and has been recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and its achievements and quality of service have been chronicled in published decisions. More information about the firm, class actions in general, or about the role of the lead plaintiff in a securities class action can be obtained at Kirby McInerney & Squire's website at www.kmslaw.com.
If you are a member of the class described above, you may, no later than April 15, 2002, move the Court to serve as lead plaintiff of the class, if you so choose, pursuant to the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), 15 U.S.C. section 78u-4(a). A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to seek appointment as a lead plaintiff. For more information about the case, its claims, your rights, please contact:
Ira Press, Esq. Diem Tran, Paralegal KIRBY McINERNEY & SQUIRE, LLP 830 Third Avenue, 10th Floor New York, New York 10022 Telephone: (212) 317-2300 or Toll Free (888) 529-4787 Email: dtran@kmslaw.com Website: www.kmslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.