NEW YORK, March 21, 2002 (PRIMEZONE) -- Shareholders who purchased J.P. Morgan Chase & Co.("J.P. Morgan") (NYSE:JPM) securities during the class period (February 21, 1999 through January 28, 2002) have until April 15, 2002 to file a petition with the court to become lead plaintiff in the case.
The lawsuit was filed February 20, 2002 in the United States District Court for the Southern District of New York. It seeks damages for violations of federal securities laws on behalf of all investors who bought J.P. Morgan securities during the class period.
That lawsuit 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.
If you purchased J.P. Morgan securities between February 21, 1999 and January 28, 2002, you may, no later than April 15, 2002, move the Court to serve as lead plaintiff. To serve as lead plaintiff, however, 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