Business & Finance
Wed, May 16, 2012 
LOS ANGELES--([ BUSINESS WIRE ])--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the common stock of JPMorgan Chase & Co. (aJPMorgana or the aCompanya) (NYSE:JPM) between April 13, 2012 and May 11, 2012, inclusive (the aClass Perioda), seeking to pursue remedies under the Securities Exchange Act of 1934. JPMorgan is a financial holding company that provides various financial services worldwide.
The Complaint alleges that during the Class Period the defendants issued materially false and misleading statements concerning the Companyas operations and financial prospects. Specifically, defendants misrepresented and/or failed to disclose that the Companyas Chief Investment Office had engaged in extremely risky and speculative trades that exposed JPMorgan to significant losses.
On May 10, 2012 the Company revealed that JPMorgan had sustained a multibillion dollar trading loss as a result of a risky strategy to hedge the Companyas credit exposure. In response to this disclosure, JPMorganas stock price declined from $40.74 per share to a closing price of $36.96 per share on extremely heavy trading volume.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased JPMorgan common stock during the above-described Class Period, you have certain rights, and have until July 13, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224, by e-mail to [ shareholders@glancylaw.com ].
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
