News & Events

On August 25, 2005, the Firm achieved a significant victory for its clients, JPMorgan Chase and current and former officers and directors, in connection with litigation stemming from JPMorgan Chase's dealings with Enron and other matters. Judge Sidney H. Stein of the Southern District of New York denied a motion for class certification of an ERISA action alleging breaches of fiduciary duty under ERISA law. Plaintiffs sought class certification on behalf of all current and former participants in JPMorgan Chase & Co.’s 401(k) Savings Plan for whose individual accounts the Plan held shares of common stock of JPMorgan Chase from April 1999 through January 2003. Judge Stein denied class certification, holding that Plaintiffs lacked standing under ERISA and failed to meet the requirements for class certification set forth in Federal Rule of Civil Procedure 23. The underlying action will continue, but only on behalf of the five named individual plaintiffs and only as to their claim for non-monetary relief.

The Simpson Thacher team representing JPMorgan Chase in this matter include Tom Rice, Jonathan Youngwood, George Wang, Jason Rubin, Dana Rundlof, summer associate Jonathan Talansky, and paralegal Clyte White.