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ECA, LOCAL 134 IBEW JOINT PENSION TRUST OF CHICAGO v. JP MORGAN CHASE CO.

No. 07-1786-cv.

553 F.3d 187 (2009)

ECA and LOCAL 134 IBEW JOINT PENSION TRUST OF CHICAGO, Penn Security Bank & Trust Co., Empire Life Insurance Co. and Brian Barry, on behalf of the Barry Family LP, individually, and on behalf of all others similarly situated, Plaintiffs-Appellants, v. JP MORGAN CHASE CO., Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided: January 21, 2009.

Attorney(s) appearing for the Case

Craig Spiegel (Steve W. Berman, Erin K. Flory, Hagens, Berman, Sobol, Shapiro, L.L.P, Seattle, WA, Joseph H. Weiss, David C. Katz, Richard Acocelli, Weiss & Lurie, New York City, on the briefs), for Plaintiffs-Appellants.

Bruce D. Angiolillo (Thomas C. Rice, George S. Wang, Simpson, Thacher, & Bartlett, L.L.P., New York City, on the brief), for Defendant-Appellee.

Before KEARSE, SACK, and KELLY, Circuit Judges.

PAUL J. KELLY, JR., Circuit Judge.

Plaintiffs, shareholders of JP Morgan Chase & Co. (JPMC), appeal from a judgment of the United States District Court for the Southern District of New York, Sidney H. Stein, District Judge, granting JPMC's Fed.R.Civ.P. 12(b)(6) motion to dismiss for failure to state a claim. The basis of Plaintiffs' claim, in essence, was that they were defrauded by JPMC's complicity in Enron Corporation's financial scandals. In March 2005, the...

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