JPMorgan Shareholders Argue Claims Survive Tellabs

Law360, New York (June 25, 2007, 12:00 AM EDT) -- Shareholders suing the directors of investment bank JPMorgan Chase & Co. over a merger that allegedly cost them an extra $7 billion said Monday their complaint adequately pled scienter under the heightened standard established by the Supreme Court on Thursday.

In what was perhaps a preemptive move by the investors in the securities class action, the lead plaintiffs invoked last Thursday's U.S. Supreme Court's ruling in Tellabs Inc. v. Makor Issues & Rights Ltd. as an authority that supports their claims.

In a majority decision handed...
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