Quimbee logo
DMCA.com Protection Status

In re JPMorgan Chase & Co. Securities Litigation

2009 WL 537062 (2009)

Case BriefRelatedOptions
From our private database of 30,900+ case briefs...

In re JPMorgan Chase & Co. Securities Litigation

United States District Court for the Northern District of Illinois

2009 WL 537062 (2009)

Facts

A group of shareholders (collectively, the shareholders) (plaintiffs) filed a class-action lawsuit against JPMorgan Chase & Co. (JPMorgan) (defendant) in relation to the 2004 merger between JPMorgan and Bank One. The shareholders argued that JPMorgan failed to disclose an arrangement between the CEOs of JPMorgan and Bank One before soliciting votes from the shareholders about the merger and that this relationship harmed JPMorgan’s shareholders. The shareholders based their lawsuit on allegations published in the New York Times and other newspapers but were unable to independently corroborate those allegations. The shareholders and JPMorgan attempted to settle the case. Under the proposed settlement, JPMorgan agreed to a series of governance reforms to ensure truthful and transparent communication between JPMorgan and its shareholders. Also, under the proposed settlement, JPMorgan’s board of directors could alter or terminate the reforms as it saw fit. The proposed settlement did not include any monetary damages for the shareholders. Experts for the parties believed that the reforms in the proposed settlement could benefit the parties by shaping a better corporate-management team and increasing shareholder value. An objector in the case argued that the purported value of the reforms was unknown and could be nonexistent, because JPMorgan’s board of directors could change or terminate the reforms without consulting the shareholders. The shareholders filed a motion asking the United States District Court for the Northern District of Illinois to approve the proposed settlement.

Rule of Law

Issue

Holding and Reasoning (Coar, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 551,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 551,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 30,900 briefs, keyed to 984 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 551,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 30,900 briefs - keyed to 984 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership