NEW YORK, May
16, 2012 /PRNewswire via COMTEX/ -- FINKELSTEIN & KRINSK LLP
("Finkelstein & Krinsk") and MURRAY FRANK LLP announced today
that a class action has been commenced in the United States District Court for
the Southern District of New York on behalf of purchasers of JPMorgan Chase
& Co. ("JPMorgan") /quotes/zigman/272085/quotes/nls/jpm
JPM -2.15% common stock
during the period between April 13, 2012 and May 10, 2012 (the "Class
Period"). The case number is 1:12-cv-03879.
If you wish to
serve as lead plaintiff, you must move the Court no later than July 13, 2012.
If you wish to discuss this action or have any questions concerning this notice
or your rights or interests, or to join this class action, please contact
plaintiff's counsel, William R. Restis, Esq. of Finkelstein & Krinsk at
877-493-5366 or 619-238-1333, or via e-mail at wrr@classactionlaw.com. Any
member of the putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and remain an
absent class member.
The complaint
alleges violations of the Securities Exchange Act of 1934 (the "Exchange
Act") that occurred when the Defendants issued materially false and
misleading statements regarding the losses and risk of loss to the Company
arising from massive bets on derivative contracts related to credit indexes
reflecting interest rates on corporate bonds. These derivative bets went
horribly wrong, resulting in billions of dollars in lost capital for the
Company and billions more in lost market capitalization for JPMorgan
shareholders.
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