Funds Win Class Cert In JPMorgan ERISA Suit

Law360, New York (August 5, 2010, 4:51 PM EDT) -- A federal judge has granted class certification to plaintiffs in three consolidated lawsuits accusing JPMorgan Chase Bank NA of mismanaging huge amounts of cash collateral belonging to several retirement funds.

Judge Shira A. Scheindlin on Wednesday granted a motion by Barroway Topaz Kessler Meltzer & Check LLP in the U.S. District Court for the Southern District of New York to certify the class, finding that individual issues raised by the bank “do not threaten to overwhelm the class, require this court to conduct numerous minitrials or...
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