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JP Morgan Cash Balance Plan Suit Update
ERISA Class Action Watch
Aug. 22, 2007
Excerpt: Judge Harold Baer, S.D.N.Y., has partially granted the motion for class certification in the suit against the J.P. Morgan Chase cash balance plan. Notably, Judge Baer excluded all proposed class members who had already received their distribution because, as he reasoned, they lack standing under ERISA. This holding is in direct conflict with recent decisions by the 3rd, 6th, and 7th Circuit Court of Appeals.
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