Knee v. J.P. Morgan Retirement Plan Services

Case Highlights

Status of the Case:

  • Complaint was filed on September 10, 2013.
  • Two named plaintiffs were participants in two different 401(k) plans that offered the American Century’s Stable Asset Fund, of which the named plaintiffs invested in.
  • The plaintiffs allege that the JP Morgan defendants put the American Century Stable Asset Fund in which plaintiffs were invested out of business by first diverting plan sponsors to JP Morgan funds and then when the fund became no longer viable causing the participants and assets to be involuntarily tranferred to a JP Morgan managed fund, causing plaintiffs and the proposed plaintiff class to suffer lowered investment yield.
  • This case related to Whitley v. J.P. Morgan Chase which was filed on April 3, 2012.

Issues:

  • Self-Dealing

Posts:

Key Defendants:

  • J.P. Morgan Retirement Plan Services LLC
  • J.P. Morgan Chase Bank, N.A.,
  • JPMAC Holdings Inc.,
  • J.P. Morgan Chase & Co.
  • J.P. Morgan Investment Management, Inc., d/b/a J.P. Morgan Asset Management

Significant Filings:

Commentary:

Background

Court(s):

  • Southern District of New York

    • Case No. 13-3667

Judge(s):

  • District Judge John G. Koeltl
  • Magistrate Judge Michael H. Dolinger

Defendants:

  • J.P. Morgan Retirement Plan Services LLC
  • J.P. Morgan Chase Bank, N.A.,
  • JPMAC Holdings Inc.,
  • J.P. Morgan Chase & Co.
  • J.P. Morgan Investment Management, Inc., d/b/a J.P. Morgan Asset Management

Attorneys – Plaintiffs:

  • Meites Mulder, LLP
  • Schneider Wallace Cottrell Brayton Konecky, LLP
  • Fishman Haygood Phelps Walmsley Willis & Swanson, LLP
  • Kennedy & Madonna, LLP
  • Levin Papantonio Thomas Mitchell Rafferty & Proctor, PA

 

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