JP Morgan Wins Dismissal Of Enron Class Action

Law360, New York (March 29, 2007, 12:00 AM EDT) -- JP Morgan Chase & Co. on Thursday won the dismissal of a class action lawsuit alleging the bank had helped Enron Corp. hide fraud, after a Manhattan judge ruled that plaintiffs had failed to state a claim for relief.

The plaintiffs in the case accused JPM Chase of defrauding them because they invested in JPM Chase stock based on the company’s reputation for integrity and financial discipline and “ostensibly aboveboard bookkeeping.”

In reality, the plaintiffs alleged, JPM Chase was illegally and secretly aiding Enron in hiding...
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