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JPMorgan Chase Class Action Lawsuit

21 days left to seek lead plaintiff status

Case Summary

Company Name
JPMorgan Chase
Stock Symbol
JPM
Class Period
February 23, 2016 to September 23, 2020
Motion Deadline
December 23, 2020
Court
Eastern District of New York

The JPMorgan Chase class action lawsuit charges JPMorgan Chase and certain of its officers with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers or acquirers of JPMorgan Chase securities between February 23, 2016 and September 23, 2020, inclusive (the “Class Period”).  The JPMorgan Chase class action lawsuit was commenced on October 24, 2020 in the Eastern District of New York and is captioned Mehta v. JPMorgan Chase & Co., No. 20-cv-05124.

JPMorgan purports to operate as a financial services company worldwide.  The Company operates in four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management.

The JPMorgan Chase class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) traders at JPMorgan Chase, with the knowledge and consent of their superiors, manipulated the precious metals market by “spoofing,” or placing fake orders to generate the appearance of market demand; (2) JPMorgan Chase had insufficient controls and compliance protocols to enable it to identify and stop the misconduct; (3) JPMorgan Chase’s earnings in the physical commodity market were, at least in part, ill-gotten; (4) such conduct would result in enhanced regulatory scrutiny; (5) JPMorgan Chase provided misleading information to Commodity Futures Trading Commission investigators at early stages of the investigation into the misconduct; (6) resolution of the governmental investigation into JPMorgan Chase would result in a record-breaking $920 million fine; and (7) as a result, defendants’ statements about JPMorgan Chase’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired JPMorgan Chase securities during the Class Period to seek appointment as lead plaintiff in the JPMorgan Chase class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the JPMorgan Chase class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the JPMorgan Chase class action lawsuit.  An investor’s ability to share in any potential future recovery of the JPMorgan Chase class action lawsuit is not dependent upon serving as lead plaintiff.  If you wish to serve as lead plaintiff of the JPMorgan Chase class action lawsuit or have questions concerning your rights regarding the JPMorgan Chase class action lawsuit, please provide your information here or contact counsel, Michael Albert of Robbins Geller, at 800/449-4900 or 619/231-1058 or via e-mail at malbert@rgrdlaw.com.  Lead plaintiff motions for the JPMorgan Chase class action lawsuit must be filed with the court no later than December 23, 2020.

Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities class action litigation.  With 200 lawyers in 9 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history.  For seven consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in the world in both amount recovered for shareholders and total number of class action settlements.  Robbins Geller attorneys have helped shape the securities laws and have recovered tens of billions of dollars on behalf of aggrieved victims.  Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide.  Robbins Geller attorneys are consistently recognized by courts, professional organizations and the media as leading lawyers in the industry.

Class Period: February 23, 2016 - September 23, 2020
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