Welcome to the JPMorgan Chase & Co. Securities Litigation Settlement Website
This website has been established to provide general information regarding the proposed settlement (the “Settlement”) of the consolidated class action entitled In re JPMorgan Chase & Co. Securities Litigation, Master File No. 1:12-cv-03852-GBD (the “Action”), pending in the United States District Court for the Southern District of New York (the "Court'). The capitalized terms used on this website and not defined herein shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement dated December 18, 2015 (the "Stipulation").
Please be advised that your rights may be affected by this Settlement if you are a member of the class of investors certified by the Court pursuant to Order dated September 29, 2015 (the “Class”). The Class consists of all persons and entities who purchased or otherwise acquired the common stock of JPMorgan Chase & Co. ("JPMorgan") during the period from April 13, 2012 through May 21, 2012, inclusive, and who were damaged thereby. Excluded from the Class are: (i) Defendants; (ii) executive officers of JPMorgan who were employed during the Class Period, members of JPMorgan’s Board of Directors during the Class Period, and members of their immediate families (as defined in 17 C.F.R. § 229.404(a), Instructions (1)(a)(iii) and (1)(b)(ii)); (iii) the employees within JPMorgan’s Chief Investment Office ("CIO") primarily responsible, before April 13, 2012, for management of the CIO’s Synthetic Credit Portfolio; (iv) any of the foregoing persons’ legal representatives, heirs, successors or assigns; and (v) any entity in which any Defendant directly or indirectly has a controlling interest or had a controlling interest during the Class Period. Notwithstanding the foregoing exclusions, no Investment Vehicle shall be excluded from the Class. Also excluded from the Class are any persons or entities who or which exclude themselves by submitting a request for exclusion that is accepted by the Court. The Court has appointed the law firms of Bernstein Litowitz Berger & Grossmann LLP, Grant & Eisenhofer P.A., and Kessler Topaz Meltzer & Check, LLP to represent the Class.
As more fully described in the Notice of (I) Pendency of Class Action, Class Certification, and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice"), the Action alleges that Defendants, JPMorgan, James Dimon and Douglas Braunstein, violated the federal securities laws by making false and misleading statements regarding the activities of JPMorgan’s CIO and the extent of existing and potential risk posed by the CIO’s Synthetic Credit Portfolio. Defendants deny these allegations. The Action further alleges that these false and misleading statements caused the price of JPMorgan common stock to be artificially inflated during the Class Period. Specifically, the operative complaint in the Action, the Second Amended Consolidated Class Action Complaint dated April 15, 2013, asserts claims under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Lead Plaintiffs, on behalf of themselves and the Class, agreed to settle the Action in exchange for $150,000,000 in cash (the “Settlement Amount”), to be divided, after taxes, fees and expenses, pro rata among Class Members who submit a valid Proof of Claim and Release Form (“Claim Form”) in accordance with the Court-approved Plan of Allocation which is set forth on pages 7-9 of the Notice. On May 10, 2016, following a hearing, the Court approved the Settlement as fair, reasonable and adequate. The Court also entered an Order Approving Plan of Allocation of Net Settlement Fund and an Order Awarding Attorneys' Fees and Reimbursment of Litigation Expenses.
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully to fully understand your rights.
SUMMARY OF YOUR LEGAL RIGHTS AND OPTIONS
|SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN JUNE 13, 2016.
||This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Class Member and you remain in the Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs' Claims that you have against Defendants and the other Defendants' Releasees, so it is in your interest to submit a Claim Form.
||If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive a payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
||June 13, 2016