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NEW YORK--([ BUSINESS WIRE ])--Entwistle & Cappucci LLP (aEntwistle & Cappuccia) ([ www.entwistle-law.com ]) and Hagens Berman Sobol Shapiro LLP (aHagens Bermana) ([ www.hbsslaw.com ]), prominent law firms specializing in securities litigation, give notice of an amended class definition in the lawsuit against J.P. Morgan Chase & Co. (NYSE: JPM) (aJP Morgana) and related entities based upon their alleged aiding and abetting of the Madoff Ponzi scheme.

Entwistle & Cappucci and Hagens Berman filed a class-action lawsuit on behalf of all investors who had funds invested in Bernard L. Madoff Investment Securities LLC (aBLMISa) as of December 12, 2008 and suffered damages.

The complaint alleges that JP Morgan, acting as Madoffas primary banker for more than 20 years, had knowledge of red flags pointing to the Ponzi scheme and, instead of alerting the authorities or looking into accounting irregularities, chose to profit from Madoffas fraud. In addition, the complaint alleges that JP Morgan lent legitimacy and cover to Madoffas operations as it collected hundreds of millions of dollars in fees and profits, thereby facilitating the largest financial fraud in history.

The suit, in the U.S. District Court for the Southern District of New York, was brought after similar claims by the BLMIS Trustee were dismissed. The Court ruled that the claims filed by Trustee Irving Picard lacked standing, holding that those claims instead belonged exclusively to the victims of Madoffas fraud.

Beginning in 2006, JP Morgan sold to its clients structured investment products related to BLMIS feeder funds, profiting on those transactions as well. In the course of structuring those products, JP Morgan performed due diligence on BLMIS and became suspicious that BLMIS was a fraud, but did not report its findings, the suit alleges. Instead, JP Morgan redeemed $145 million from BLMIS and $276 million from BLMIS feeder funds in 2008.

The complaint notes that at least one other banking institution closed BLMIS accounts after the Madoff staff could not supply a satisfactory explanation for suspicious account activity.

The case alleges that as a result of JP Morganas participation in the wrongdoing, it is liable for knowing participation in a breach of trust, aiding and abetting fraud, aiding and abetting breach of fiduciary duty, conversion, aiding and abetting conversion and unjust enrichment. The suit seeks damages for investors based upon this wrongdoing.

More information about the case can be found at [ http://www.entwistle-law.com/resources/JPM/index ]. The filed case number is 11-cv-8331.

AboutEntwistle & Cappucci

Entwistle & Cappucci is a national law firm providing top-flight legal representation and exceptional service to clients that include major public corporations, a number of the nationas largest public pension funds, governmental entities, leading institutional investors, domestic and foreign financial services companies, emerging business enterprises and individual entrepreneurs.

The lawyers who founded the firm in 1998 did so with a commitment to excellence, integrity and creativity. Its strong reputation among clients, adversaries and the judiciary is not inherited from prior generations. Instead, the firm has earned its reputation day-by-day, client-by-client and matter-by-matter. The firmas approach to the practice of law is business-oriented and pragmatic.

If you wish to discuss this action or have any questions concerning this press release, or your rights or interests with respect to this matter, please contact: Robert N. Cappucci, Esq. ([ rcappucci@entwistle-law.com ]) or Arthur V. Nealon ([ anealon@entwistle-law.com ]) of Entwistle & Cappucci LLP, 280 Park Avenue, 26th Floor West, New York, New York 10017, Telephone: (212) 894-7200.