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Kessler Topaz Meltzer & Check, LLP Announces Proposed $9.5 Million Settlement of Class Action Merryman et al. v. JPMorgan Chase Bank, N.A., Civil Action No. 1:15-cv-09188-VEC (S.D.N.Y.)

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Kessler Topaz Meltzer & Check, LLP Announces Proposed $9.5 Million Settlement of Class Action Merryman et al. v. JPMorgan Chase Bank, N.A., Civil Action No. 1:15-cv-09188-VEC (S.D.N.Y.)

PR Newswire

NEW YORK, Aug. 27, 2018 /PRNewswire/ --

UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF NEW YORK










BENJAMIN MICHAEL MERRYMAN, AMY


CIVIL ACTION NO. 1:15-cv-09188-VEC


WHITAKER MERRYMAN TRUST, B




MERRYMAN AND A MERRYMAN 4TH




GENERATION REMAINDER TRUST AND




CHESTER COUNTY EMPLOYEES




RETIREMENT FUND, individually and on




behalf of all others similarly situated,








                                    Plaintiffs,








            v.








JPMORGAN CHASE BANK, N.A.,








Defendant.




SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) FINAL APPROVAL HEARING; AND (III) MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO:  All Persons or entities who are or were holders (directly or indirectly, registered or beneficially) of or otherwise claim any entitlement to any payment (whether a dividend, rights offering, interest on capital, sale of shares or other distribution) in connection with: (1) the securities listed in Appendix 1 to the Stipulation and Agreement of Settlement dated June 12, 2018 ("Stipulation") and the Notice described below (including any predecessor or successor securities)1 from November 21, 2010 to July 18, 2018, inclusive; or (2) the securities listed in Appendix 2 to the Stipulation and the Notice described below (including any predecessor or successor securities)2 from November 21, 2012 to July 18, 2018, inclusive (collectively, the "Settlement Class"). 

Certain Persons and entities are excluded from the definition of Settlement Class as set forth in detail in the Stipulation and the Notice described below.

PLEASE READ THIS NOTICE CAREFULLY.  IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT DESCRIBED BELOW

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation ("Litigation") has been provisionally certified as a class action for the purposes of settlement only and that the parties to the Litigation have reached a proposed settlement for $9,500,000 in cash ("Settlement"), that, if approved, will resolve all claims in the Litigation.  A hearing will be held on January 22, 2019 at 10:00 a.m., before the Honorable Valerie E. Caproni at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Litigation should be dismissed with prejudice against JPMorgan Chase Bank, N.A. ("Defendant" or "JPM"), and the releases specified and described in the Stipulation (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING LITIGATION AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.  A detailed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Final Approval Hearing; and (III) Motion for Attorneys' Fees and Reimbursement of Litigation Expenses ("Notice") and Proof of Claim and Release form ("Claim Form") (or Validation Letter for those Settlement Class Members who hold (or held) their eligible securities directly and are listed on the records of JPM's transfer agent are currently being mailed to Settlement Class Members explaining their rights in connection with the Settlement and the process, for certain Settlement Class Members, to submit a Claim Form in order to be eligible to receive a payment from the Settlement.  If you have not yet received the detailed Notice and Claim Form (or Validation Letter), you may obtain copies of these documents by visiting www.JPMorganADRFXSettlement.com, or by contacting the Claims Administrator at:

JPMorgan ADR FX Settlement
c/o KCC Class Action Services
P.O. Box 404068
Louisville, KY  40233-4068
(866) 637-9457
info@JPMorganADRFXSettlement.com

Inquiries, other than requests for the Notice and Claim Form, should be made to Court-appointed Lead Counsel:

Sharan Nirmul, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, PA  19087
(610) 667-7706
info@ktmc.com

As explained in the Notice, if you hold (or held) your eligible securities directly and are listed on the records of JPM's transfer agent, you are a Registered Holder Settlement Class Member and do not have to take any action in order to participate in the Settlement and be eligible to receive a payment from the Settlement.  Your losses (if any) will be calculated using the information provided by JPM's transfer agent. However, if you hold (or held) your eligible securities through a bank, broker or other nominee and are not listed on the records of JPM's transfer agent, you are a Non-Registered Holder Settlement Class Member and, in order for you to participate in the Settlement and be eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than January 12, 2019.  If you are a Non-Registered Holder Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court in the Litigation.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than December 18, 2018, in accordance with the instructions set forth in the Notice.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Litigation and you will not be eligible to share in the net proceeds of the Settlement. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendant's Counsel such that they are received no later than December 18, 2018, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, JPM, or its counsel regarding this notice.  All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

DATED:  July 18, 2018

BY ORDER OF THE COURT


United States District Court


Southern District of New York

1 The securities listed in Appendix 1 to the Stipulation and Notice are: (1) Banco Santander SA; (2) Chunghwa Telecom Co., Ltd.; (3) CNOOC Ltd.; (4) ENEL SpA; (5) Guangshen Railway; (6) Nippon Telegraph & Telephone Corp.; (7) Novartis A.G.; (8) Novo Nordisk A/S; (9) Prudential PLC; (10) Rio Tinto PLC; (11) Sanofi; (12) Vale S.A.; (13) Vale S.A. – Pref; and (14) Volkswagen AG – Pref. See Appendix 1 to the Stipulation (or Notice) for CUSIPs and Ticker Symbols.

2  The securities listed in Appendix 2 to the Stipulation and Notice are: (1) Alcatel-Lucent; (2) Allianz SE; (3) AMCOR Ltd.; (4) ASML Holding NV; (5) BAE Systems PLC; (6) Banco Santander SA; (7) Banco Santander Chile; (8) BNP Paribas; (9) Braskem SA; (10) BT Group PLC; (11) Canon, Inc.; (12) Carlsberg A/S; (13) Carnival PLC; (14) CIA Brasileira De Distribuicao Grupo Pao De Acucar; (15) Danone; (16) Gerdau SA; (17) Honda Motor Co. Ltd.; (18) Iberdrola SA; (19) ING Groep NV; (20) KB Financial Group Inc.; (21) Kirin Holdings Co. Ltd.; (22) Kubota Corp.; (23) Lafarge; (24) Nissan Motor Co. Ltd.; (25) OMV AG; (26) Panasonic Corp.; (27) Reckitt Benckiser Group PLC; (28) Roche Holding AG / Roche Holding Ltd.; (29) Rolls-Royce Holdings PLC; (30) SABMiller PLC; (31) Sony Corp.; (32) STMicroelectronics NV; (33) Swedbank AB; (34) Telenor ASA; (35) Teva Pharmaceutical Industries Ltd.; (36) TIM Participações SA; (37) Tokio Marine Holdings Inc.; (38) TOTAL SA; (39) Valeo SA; (40) Volkswagen AG; and (41) Yara International ASA. See Appendix 2 to the Stipulation (or Notice) for CUSIPs and Ticker Symbols.

 

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SOURCE Kessler Topaz Meltzer & Check, LLP

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