NEW YORK, April 27, 2006 (PRIMEZONE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous high net-worth investors throughout the nation, advises all Chase H&Q n/k/a J.P. Morgan Chase & Co. ("J.P. Morgan") customers who are eligible to participate in the Settlement of the Initial Public Offering Securities Litigation (In Re Initial Public Offering Securities Litigation, No. 21 MC 92 (SAS)) ("civil litigation" or "IPO Securities Litigation"), to explore all of their legal options against J.P. Morgan prior to filing a proof of claim. J.P. Morgan recently agreed to pay $425 million to settle its part of the civil litigation. However, investors should strongly consider pursuing an individual securities arbitration claim as an alternative means to recovering their financial losses.
Pursuant to notices sent to the 17 million eligible IPO Class Members, individual recoveries are predicted to be quite low, ranging from pennies per share to as much as 46 cents per share. However, investors may opt-out of the Class and file an individual securities arbitration claim against the full-service brokerage firm where they held accounts, thereby potentially achieving an overall higher recovery rate on their financial losses.
The IPO Securities Litigation alleges that various issuers and underwriters caused securities to trade at artificially inflated prices, in connection with the initial public offering of the securities, causing customers to lose billions of dollars. Investors who may have a claim against J.P. Morgan include those who suffered net losses as a result of their purchase and/or receipt of the following stocks through J.P. Morgan, during the relevant time periods:
1. Perot Systems Corp. (NYSE:PER) Feb. 1, 99 - Dec. 6, 00 2. Wireless Facilities (Nasdaq:WFII) Nov. 4, 99 - Dec. 6, 00 3. PSI Technologies Holdings (Nasdaq:PSIT) Mar. 16, 00 - Dec. 6, 00 4. Red Hat, Inc. (Nasdaq:RHAT) Aug. 11, 99 - Dec. 6, 00
Accordingly, K&T plans to assist individual investors who purchased and/or received an allocation of shares through an IPO to recover their financial losses from J.P. Morgan, in securities arbitration claims before the National Association of Securities Dealers and the New York Stock Exchange. For more information, please contact Lawrence L. Klayman, Esquire, at 888-997-9956 to discuss your legal options and/or the possibility of pursuing an individual securities arbitration claim. You may also visit us on the web at http://www.nasd-law.com.