{"id":4392,"date":"2007-04-11T01:19:32","date_gmt":"2007-04-11T01:19:32","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/04\/jp_morgan_chase_and_co_not_lia"},"modified":"2021-09-20T15:40:23","modified_gmt":"2021-09-20T20:40:23","slug":"jp-morgan-chase-and-co-not-lia","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-and-co-not-lia\/","title":{"rendered":"JP Morgan Chase and Co. Not Liable For Securities Fraud Related To Enron Collapse, Says New York District Court"},"content":{"rendered":"

\t\t\t\tFor a second time, the U.S. District Court for the Southern District of New York told J.P. Morgan Chase &Co. shareholders that they cannot hold the investment bank responsible for securities fraud related to its alleged complicity in helping Enron cover up its true financial situation. <\/p>\n

Judge Sidney H. Stein said the second amended complaint had the same flaws as the first complaint: The Enron shareholders, not the investment bank’s shareholders are the victims of Enron’s collapse and therefore the ones defrauded-if the allegations were borne out.<\/p>\n

According to the plaintiffs, they became investors in JPM Chase because it was known for its financial discipline and integrity. The bank, however, was unlawfully helping and abetting Enron’s wrongful conduct. Its reputation suffered after its role in the Enron scandal was revealed.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

For a second time, the U.S. District Court for the Southern District of New York told J.P. Morgan Chase &Co. shareholders that they cannot hold the investment bank responsible for securities fraud related to its alleged complicity in helping Enron cover up its true financial situation. Judge Sidney H. Stein said the second amended complaint […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3797],"tags":[],"class_list":["post-4392","post","type-post","status-publish","format-standard","hentry","category-j-p-morgan-chase"],"yoast_head":"\nJP Morgan Chase and Co. 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