Thursday, May 24, 2012

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $1 Million Investing in JPMorgan Chase & Co. to Contact the Firm

The investigation seeks to determine whether JPMorgan issued materially false and misleading statements regarding certain securities trading by the Company's Chief Investment Office ("CIO"). Specifically, whether JPMorgan misrepresented and/or failed to disclose that the CIO had engaged in extremely risky and speculative trades that exposed JPMorgan to significant losses.

On May 10, 2012, JPMorgan filed its Form 10-Q for the quarter ended March 31, 2012, with the SEC. After the market closed, JPMorgan held a conference call with analysts and investors to discuss the Form 10-Q, in which the Company revealed that it had sustained a multi-billion dollar trading loss. In response to this disclosure, the price of JPMorgan stock declined from $40.74 per share to $36.96 per share on extremely heavy trading volume.

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