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2nd Circ. Tosses Suit Over JPMorgan's Enron Actions

Law360 (January 21, 2009, 12:00 AM EST) -- A federal appeals court on Wednesday tossed an investor lawsuit alleging that JPMorgan Chase & Co. defrauded investors by its participation in the Enron scandal.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit upheld a lower court ruling that the plaintiffs failed to make a claim against JPMorgan Chase and its actions in relation to Enron that stood up to scrutiny under the scienter provisions of the Private Securities Litigation Reform Act, the materiality standards of the Securities Act of 1933...
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