Wechsler Harwood Files Class Action Against Bank One Corp
NEW YORK--(BUSINESS WIRE)--Dec. 17, 1999--The following was
released today by Wechsler Harwood Halebian & Feffer LLP:
Notice is hereby given that on December 14, 1999, a securities
class action lawsuit was filed in the United States District Court for
the Northern District of Illinois against Bank One Corp. ("Bank One")
(NYSE:ONE), First USA, and certain officers and directors of Bank One
and First USA on behalf of all persons and entities who purchased the
stock of Bank One during the period October 22, 1998 and November 10,
1999, inclusive (the "Class Period").
The complaint alleges that defendants violated the federal
securities laws, including Sections 10(b) and 20 of the Securities
Exchange Act of 1934, as amended, by making false and misleading
statements in press releases and filings with the Securities and
Exchange Commission, concerning, among other things, the business,
financial condition, earnings and prospects of Bank One and its
wholly-owned subsidiary, First USA. Specifically, the Complaint
alleges that Bank One achieved its financial results from First USA's
improperly recorded revenues from late fees, penalties and interest by
failing to post credit card payments on time.
After a series of partial disclosures beginning on August 24,
1999, and ending on November 10, 1999, the facts concerning
defendants' conduct became widely known, including a report that First
USA was the target of an investigation by the Office of the
Comptroller of the Currency, the stock price of Bank One plummeted
from its Class Period high of $63.563 per share to close at $34.625
per share on November 10, 1999.
Plaintiff is represented in this class action by the New York law
firms of Wechsler Harwood Halebian & Feffer LLP and Bull & Lifshitz,
LLP, both of which have extensive experience representing shareholders
in class actions.
If you purchased Bank One common stock during the Class Period,
you may, not later than 60 days from December 17, 1999, move the court
to serve as a lead plaintiff, provided you meet certain legal
requirements.
If you wish to discuss this action, or have any questions
concerning this notice or your rights or interests with respect to
this matter, please contact:
Wechsler Harwood Halebian & Feffer LLP, 488 Madison Avenue, New
York New York 10022 Robert I. Harwood, Esq., Jeffrey M. Haber, Esq. or
Frederick W. Gerkens, III, Esq., Telephone: 1-877-935-7400 (toll
free), or Wechsler Harwood's Shareholder Relations Department, Shannon
Cooper, e-mail: scooper@whhf.com
CONTACT:
Wechsler Harwood Halebian & Feffer LLP, New York
Robert I. Harwood, Esq., Jeffrey M. Haber, Esq. or
Frederick W. Gerkens, III, Esq.
Telephone: 1-877-935-7400 (toll free)
or
Wechsler Harwood's Shareholder Relations Department
Shannon Cooper, e-mail: scooper@whhf.com
or
BULL & LIFSHITZ LLP classlaw1@aol.com
Joshua M. Lifshitz, Esq.
Peter D. Bull, Esq.
Phone: (212) 869-9449
or (888) 893-1844 (outside New York State)
or
GARWIN, BRONZAFT, GERSTEIN & FISHER, L.L.P.
Scott Fisher
Phone: (212) 398-0055 |
