JP Morgan Class Action Lawsuit Over Enron Claims Dismissed

A class action lawsuit which was filed against JP Morgan Chase & Co. alleging that the bank helped cover up fraud at Enron and therefore committed securities fraud because the bank’s share price suffered, was dismissed by a federal judge.

The lawsuit was filed in the United States District Court for the Southern District of New York.

Judge Sidney Stein said the suit “fails to show in a particularized fashion that JP Morgan Chase or its officers intended to deceive its shareholders or in fact did deceive them in a material way.”

JP Morgan agreed to pay $2.2 billion (€1.65 billion) to settle claims related to Enron in March 2005. The company agreed to pay another $350 million (€262.8 million) to shareholders in the bankrupt energy company the same year.

Link [www.iht.com/articles/ap/2007/03/30/business/NA-FIN-US-JP-Morgan-Enron.php]

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  1. Alfred Forsberg Says:

    Note: I realize that it may sound a bit ‘off the wall’ to make such statements - but we can prove that they are true in a court of law. I am being very nasty for the simple reason that I want one (or more) of these individuals and/or corporations to sue me. We are waiting for them to set foot on the court steps so that we may then place them under arrest. This is not a joke or an idle threat. The default judgment for those in Texas has already been won and we intend to confiscate everything that they now own and/or have transferred to others. This includes bank accounts, stocks, insurance policies, boats, cars, houses, personal belongings, oil rigs, oil and gas leases, cash on hand, jewelry, and more. Many are already in custody and others have spent time in foreign jails.
    We have given judge Brieant a daunting task, as he has to list and verify everything. When all of their assets are taken ( in 10 states), we have 4 similar cases which will move forward very quickly.
    This is just for the people down South. JP Morgan Chase and Lexon Insurance Company will be held separately, and many of the people there who committed crimes will also spend a long time in federal prison. They should have realized who they were stealing from, but now it is too late. Money is not enough, nor is there any place on Earth they can hide from legal retribution.

    https://www.banking-fraud.com [www.banking-fraud.com] 4/3/08
    Treason, Bank - Insurance and Securities Fraud.

    JP Morgan Chase, Lexon Insurance and Always Consulting have violated the PATRIOT ACT with malice and forethought to intentionally defraud innocent Americans out of their life savings. They acted in collusion, committing serious crimes with reckless and negligent behavior causing wrongful deaths, monetary loss, loss of time and loss of health. I have lost a lot of money due to JP Morgan racketeering.

    • JP Morgan Chase along with Lexon Insurance Company and Always Consulting Inc., have willingly and knowingly diverted investors money to terrorist organizations, such as Afghanistan, Al Quada, and the Columbian drug cartel.
    • JP Morgan never opened segregated accounts (to this date) and Lexon still insures fictitious gas and oil well projects owned by known convicted felons.
    • Always Consulting, Inc. operates in New York, California, Kentucky, Oregon, Seattle, Washington, Kansas, New Mexico, Oklahoma, Wyoming, and Texas.
    • JP Morgan Chase and Lexon have a long history of cheating Americans, and have always gotten away with a slap on the wrist. There are 4300 such scams in Texas alone.
    My name is Alfred Forsberg and I welcome your investigations. You may contact me at 914 779-3035 or at alf82@optonline.net [mailto:alf82@optonline.net] . I reside in Yonkers, New York. 10710. If anyone or corporation thinks that I am slandering them or that I am guilty of libel - please sue me in court.
    I will post as much contact and verifiable information as I am allowed and that I have. The web site will update daily. I consider all of this to be a sworn statement of fact.
    Signed, Alfred Forsberg

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