CHICAGO, Oct. 10, 2007 (PRIME NEWSWIRE) -- Pomerantz Haudek Block Grossman & Gross LLP announces the following:
TO: All persons or entities who purchased shares of Banc One
Corporation ("Old Banc One") common stock during the period of
August 6, 1998 through October 1, 1998, both dates inclusive, and
received Bank One Corporation ("Bank One") common stock through
the conversion of Old Banc One common stock to Bank One common
stock issued in connection with the merger between Old Banc One
and First Chicago NBD Corporation ("First Chicago") effective
October 2, 1998 (the "Class").
Excluded from the Class are: (a) all Bank One common stock of
former Old Banc One shareholders which were sold prior to
August 30, 1999; and (b) the Individual Defendants, officers and
directors of Bank One, members of the Individual Defendants'
immediate families, any entity in which any defendant has a
controlling interest, and the legal representatives,
heirs, successors or assigns of any such excluded person.
YOU ARE HEREBY NOTIFIED that the Class and defendant Bank One in In re Old Banc One Shareholders Litigation, No. 00 C 2100 (N.D. Ill.), have entered into a Stipulation of Settlement dated September 11, 2007 (the "Settlement") to settle the claims of the Class in this Litigation. All capitalized terms in this Summary Notice are defined as referenced in the Stipulation of Settlement.
PLEASE BE FURTHER ADVISED that pursuant to an Order of the Court, a hearing will be held on November 30, 2007, at 8:45 a.m., before the Honorable Wayne R. Andersen, United States District Court, Northern District of Illinois, in Courtroom 1403 of the United States Courthouse, 219 South Dearborn Street, Chicago, Illinois 60604 to determine: (1) whether the settlement of the Class's claims against Bank One for twenty-eight million dollars ($28,000,000) should be approved as fair, just, reasonable and adequate; (2) whether the Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement filed with the Court; (3) whether the proposed Plan of Allocation is fair, just, reasonable, and adequate; (4) whether the application of Class Counsel for an award of attorneys' fees and expenses should be approved; and (5) whether the Lead Plaintiff and Class Representative should be granted an award for services on behalf of the Class as requested by Class Counsel.
If you purchased Old Banc One common stock during the period from August 6, 1998 through and including October 1, 1998, your rights may be affected by the Settlement of this Litigation, including through the release and extinguishment of claims you may possess relating to your conversion of Old Banc One common stock to Bank One common stock issued in connection with the merger between Old Banc One and First Chicago. To share in the distribution of the Settlement Fund, you must file a Proof of Claim and Release form on or before January 15, 2008.
If you desire to be excluded from the Class, you must file a request for exclusion by November 15, 2007, in the manner and form explained in the detailed Notice referred to below.
All members of the Class who have not requested exclusion from the Class will be bound by any judgment entered pursuant to the Settlement.
Any objection to the Settlement, Plan of Allocation, the application for Attorneys' Fees and Expenses to be awarded to Class Counsel, or Class Counsel's request for a grant of an award to the Lead Plaintiff and the Class Representative must be filed no later than November 15, 2007, and show due proof of service on each of the following:
For the Class:
ZWERLING, SCHACHTER & POMERANTZ HAUDEK BLOCK
ZWERLING, LLP GROSSMAN & GROSS LLP
Robin F. Zwerling Patrick V. Dahlstrom
41 Madison Avenue One North LaSalle Street, Suite 2225
New York, New York 10010 Chicago, Illinois 60602
For Bank One Corporation:
WINSTON & STRAWN LLP
Robert Y. Sperling
35 West Wacker Drive
Chicago, Illinois 60601
If you are a member of the Class and have not received a detailed printed Notice of Proposed Settlement of Class Action, Hearing Thereon, Right to Appear and Related Matters and Proof of Claim and Release form, you may obtain copies by contacting the Settlement Administrator at: In re Old Banc One Shareholders Securities Litigation, c/o Berdon Claims Administration LLC, P.O. Box 9014, Jericho, NY 11753-8914, by telephone: (800) 766-3330, by fax: (516) 931-0810, or by downloading these documents at www.berdonllp.com/claims.
INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE
CLERK'S OFFICE, THE DEFENDANT, OR DEFENDANT'S COUNSEL
Dated: October 5, 2007
United States District Court
Northern District of Illinois