The following was released Fiday 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: email@example.comDetails