JP Morgan Chase & Co. JPM Securities Stock Fraud

Company:	JP Morgan Chase & Co.
Ticker Symbol:	JPM
Class Period:	Apr-13-12 to May-11-12
Date Filed:	May-14-12
Lead Plaintiff Deadline:	Jul-13-12
Court:	Southern District of New York
Allegations:

New York, NY: A securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of a class of purchasers (the "Class") of JP Morgan Chase & Co. ("JP Morgan") common stock during the period between April 13, 2012 and May 11, 2012 (the "Class Period"). The Complaint charges JP Morgan and certain of the Company's executive officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Defendant JP Morgan is a financial holding company, which provides various financial services worldwide. During the Class Period, as alleged in the complaint, Defendants issued materially false and misleading statements regarding certain securities trading by the Company's Chief Investment Office ("CIO"). Specifically, Defendants misrepresented and/or failed to disclose that the CIO had engaged in extremely risky and speculative trades that exposed JP Morgan to significant losses.

As alleged in the complaint, on May 10, 2012, JP Morgan filed its Form 10-Q for the quarter ended March 31, 2012, with the Securities and Exchange Commission. After the market closed, JP Morgan held a conference call with analysts and investors to discuss the Form 10-Q. Defendants opened the conference call by revealing that the Company's CIO trading had sustained a multi-billion dollar trading loss. In response to this disclosure, the price of JP Morgan stock declined from $40.74 per share to $36.96 per share on extremely heavy trading volume.

Plaintiffs seek to recover damages on behalf of all Class members who purchased or otherwise acquired JP Morgan common stock during the Class Period. If you purchased or otherwise acquired JP Morgan common stock during the Class Period, and either lost money on the transaction or still hold the shares, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than July 13, 2012.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

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Published on May-15-12