CHICAGO, April 1, 2005 (PRIMEZONE) -- The Law Firm of Susman, Watkins & Wylie, LLP announces a proposed Class Action Settlement on behalf of certain persons and entities who acquired shares of Bank One Corporation ("Bank One") common stock in exchange for First Chicago NBD Corporation ("First Chicago") common stock in connection with the merger between Bank One and First Chicago on October 2, 1998. Set forth below is the Summary Notice ordered by the Court.
IN THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
In re BANK ONE SECURITIES ) Civil Action No. 00 C 767
LITIGATION )
) Judge Wayne R. Andersen
First Chicago Shareholder Claims )
SUMMARY NOTICE OF CLASS CERTIFICATION, PROPOSED
SETTLEMENT OF CLASS ACTION AND SETTLEMENT HEARING
TO: All persons and entities who acquired their shares of
Bank One Corporation ("Bank One") common stock in exchange
for their First Chicago NBD Corporation ("First Chicago")
common stock pursuant to the Registration Statement and
Merger Proxy/Prospectus, in connection with the Merger
between Bank One and First Chicago on October 2, 1998,
excluding (a) all persons who sold their stock prior to
August 30, 1999; (b) Defendants; (c) any entity in which a
Defendant has a controlling interest or is part or subsidiary
of, or is controlled by Bank One; and (d) the directors,
officers, affiliates, legal representatives, heirs,
predecessors, successors and assigns of any of the Defendants
(the "Class").
With respect to subparagraph (a) above, "Persons" who sold
shares of Bank One common stock acquired in the Merger are
excluded from the Class only to the extent they sold all such
common stock before August 30, 1999. Persons who sold fewer
than all shares before August 30, 1999, remain in the Class.
With respect to subparagraph (c) above, the First Chicago NBD
Corporation Personal Pension Account Plan and First Chicago
NBD Corporation Savings and Investment Plan are, to the
extent of their qualifying ownership of Bank One common
stock, included in the Class. With respect to subparagraph
(d) above, the reference to "officers" is a reference to
persons who were officers of Bank One as of October 2, 1998.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United
States District Court for the Northern District of Illinois,
Eastern Division, dated May 9, 2002 (as clarified by Order dated
June 4, 2004), that the above-captioned Litigation has been
certified as a class action, that the Naomi Borwell Trust has been
appointed Lead Plaintiff and representative for the Class, that
Arthur T. Susman, Esq. of the law firm of Susman, Watkins & Wylie,
LLP, has been appointed Lead Counsel and that you have certain
rights as a result of the Class certification.
YOU ARE FURTHER NOTIFIED, pursuant to an Order of the United
States District Court for the Northern District of Illinois,
Eastern Division, dated March 22, 2005, that a Hearing will be
held on May 19, 2005, at 8:45 a.m. before the Honorable Wayne R.
Andersen for the purposes of determining: (1) whether a proposed
Settlement of the above Litigation for the principal amount of One
Hundred Twenty Million Dollars ($120,000,000), plus accrued
interest, should be approved by the Court as fair, reasonable and
adequate; (2) whether an Order of Final Judgment and Dismissal
approving the Settlement and dismissing the Litigation on the
merits and with prejudice should be entered; (3) whether the
proposed Plan of Allocation is fair and reasonable; and (4)
whether the application for attorneys' fees and reimbursement of
expenses is reasonable and should be approved.
This Litigation is a consolidated class action under the federal
securities laws concerning the Merger of First Chicago and Bank
One in October of 1998. Plaintiffs allege that Bank One and the
other Defendants made material misstatements and omissions in
connection with that transaction. Defendants deny all allegations
of wrongdoing, deny any violations of the securities laws,
maintain that they acted properly in all respects and make no
admission of fault, liability or damages in connection with the
proposed Settlement or otherwise.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS MAY
BE AFFECTED BY THE LITIGATION AND THE SETTLEMENT THEREOF. If you
have not yet received the detailed Notice of Pendency and Proposed
Settlement of Class Action, Hearing on Proposed Settlement and
Attorneys' Fee Petition, including the Plan of Allocation and a
Proof of Claim and Release form, which supplies additional
information about this Litigation, its pendency as a class action,
deadlines for taking certain actions and the proposed Settlement,
you may obtain copies of these documents by contacting the Claims
Administrator at:
First Chicago Shareholder Litigation
Claims Administrator
c/o Strategic Claims Services
2710 Concord Road, Suite 5
Aston, Pennsylvania 19014
1-866-274-4004
www.strategicclaims.net
In addition, the pleadings and other papers of public record in this case may be inspected during normal business hours at the Office of the Clerk of the Court, United States District Court for the Northern District of Illinois, Eastern Division, 219 South Dearborn, Chicago, Illinois, 60604.
Inquiries, other than requests for copies of the Notice of Pendency and Proposed Settlement of Class Action, Hearing on Proposed Settlement and Attorneys' Fee Petition, including the Plan of Allocation, and Proof of Claim and Release form, may be made to Lead Counsel:
Susman, Watkins & Wylie, LLP
Two First National Plaza
Suite 600
Chicago, Illinois 60603
1-800-833-7803
To participate in any recovery under the Settlement, if it is approved, you must timely and properly submit a Proof of Claim and Release form no later than September 16, 2005. If you are a Class Member and do not timely and properly submit a Proof of Claim and Release, you will not share in the Settlement, but you will be bound by the Order of Final Judgment and Dismissal dismissing your claims.
This is only a summary and does not fully describe all aspects of the Litigation or your rights. The statements herein are subject to and controlled by the more detailed provisions of the Stipulation of Settlement and related orders, exhibits and documents.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE.
BY ORDER OF THE COURT