SEATTLE, April 3, 2009 (GLOBE NEWSWIRE) -- Attorney Advertising. Keller Rohrback L.L.P. (www.erisafraud.com) is investigating the investment activities of JPMorgan Chase Bank, N.A. ("JPMorgan") with respect to engagement in securities lending programs. These lending programs have resulted in severe losses to retirement savings and pension plans protected under the Employee Retirement Income Security Act of 1974, as amended ("ERISA").
Keller Rohrback's investigation focuses on allegations that JPMorgan imprudently invested its cash collateral pools or collective trusts (collectively, the "Collective Funds") in its respective securities lending programs in illiquid and leveraged assets, which led to inappropriate losses to ERISA-protected retirement plans. The Collective Funds invested on behalf of many ERISA-protected retirement plans are benchmarked to different stock or bond indices such as the Russell 2000 Index, the S&P 500 Index, the Lehman Brothers 1-to-3 year Government Bond Index, or the Lehman Brothers Aggregate Bond Index. However, the Collective Funds that several retirement plans were invested in have not been performing comparatively with their benchmarks due to the alleged inappropriate securities lending activities at JPMorgan.
Keller Rohrback is also investigating similar claims against other financial institutions such as Northern Trust Company, Northern Trust Investments, N.A., and State Street Bank & Trust Co.
If you are a participant or beneficiary of an ERISA-protected retirement savings or pension plan and your plan has suffered losses as a result of the above-mentioned practices by JPMorgan, Northern Trust, State Street, or other ERISA Investment Managers with securities lending programs for ERISA plans, you may contact paralegal Jennifer Tuato'o or attorneys Erin Riley, Derek Loeser or Lynn Sarko toll free at (800) 776-6044, or via e-mail at investor@kellerrohrback.com.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings. Keller Rohrback serves as lead and co-lead counsel in numerous ERISA class action cases, including cases against Enron, WorldCom, Inc., HealthSouth, Marsh & McLennan, Merrill Lynch, Bear Stearns, and Wachovia. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.