CHICAGO, May 28, 2004 (PRIMEZONE) -- The United States District Court for the Northern District of Illinois has upheld plaintiffs' claims filed pursuant to Sections 12 and 15 of the Securities Act of 1933 on behalf of Old Banc One (NYSE:ONE) Shareholders related to the merger of the Banc One Corporation with First Chicago NDB in 1998. The opinion of the Court was filed on April 29, 2004, in the action entitled In re Old Banc One Shareholders Securities Litigation, Civil Action No. 00 C 2100, which granted in part and denied in part defendants' motion for summary judgment.
In its decision, the Court held that Old Banc One Shareholders who purchased their stock after the August 1998 Prospectus was disseminated would have been more likely to vote against the merger had information regarding problems plaintiffs allege at Banc One's credit card division, First USA Bank, N.A., been disclosed before the merger. The Court found, therefore, that the First USA information was "material" to investors who purchased Banc One stock during the period of August 6, 1998 through October 2, 1998. Copies of the Court's decision may be obtained by contacting plaintiffs' counsel listed below.
The plaintiffs in the Old Banc One Securities Litigation are represented by Zwerling Schachter & Zwerling, LLP, and Pomerantz Haudek Block Grossman & Gross LLP. If you purchased Banc One stock during the period of August 6, 1998 through October 2, 1998, and have any questions regarding your rights pursuant to the Court's Order sustaining the claims under Sections 12 and 15 of the Securities Act of 1933, you may contact either the Zwerling firm or the Pomerantz firm addressing your inquiries to either:
Robin F. Zwerling, Esq or Patrick V. Dahlstrom, Esq.
Zwerling, Schacther Pomerantz Haudek Block
& Zwerling LLP Grossman & Gross LLP
845 Third Avenue One North La Salle Street
New York, New York 10022 Suite 2225
Tel: (212) 223-3900 Chicago, Illinois 60302
Fax: (212) 371-5969 Tel: (312) 377-1181
rzwerling@zsz.com Fax: (312) 377-1184
pdahlstrom@pomlaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca