JPMorgan ADR FX Settlement

Welcome to the JPMorgan ADR FX Settlement Website

Merryman, et al. v. JPMorgan Chase Bank, N.A., Civil Action No. 1:15-cv-09188-VEC (S.D.N.Y.)

Update: Pursuant to the Court’s November 28, 2018 Order, the Final Approval Hearing has been adjourned to May 20, 2019 at 10:00 a.m. As a result, the Exclusion and Objection deadlines have been adjusted to Monday, April 15, 2019. These updated deadlines have been noted in the table below. As further updates become available, they will be posted to this website.

This website has been established to provide general information regarding the proposed settlement (the “Settlement”) of the class action captioned Merryman, et al. v. JPMorgan Chase Bank, N.A., Civil Action No. 1:15-cv-09188-VEC, pending in the United States District Court for the Southern District of New York (the "Court"). The capitalized terms used on this website and not defined shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement, dated June 12, 2018 (the “Stipulation”).

Please be advised that your rights may be affected by this Settlement if you are a member of the class of investors provisionally certified for purposes of settlement pursuant to Order of the Court dated July 18, 2018.  The class consists of all Persons or entities who are or were holders (directly or indirectly, registered or beneficially) of or otherwise claim any entitlement to any payment (whether a dividend, rights offering, interest on capital, sale of shares or other distribution) in connection with: (1) the securities listed in Appendix 1 of the Notice (including any predecessor or successor securities) from November 21, 2010 to July 18, 2018, inclusive; or (2) the securities listed in Appendix 2 of the Notice (including any predecessor or successor securities) from November 21, 2012 to July 18, 2018, inclusive (collectively, the Settlement Class).  JPMorgan Chase Bank, N.A. and its officers, directors, legal representatives, heirs, successors, corporate parents, subsidiaries, and/or assigns, other than Investment Vehicles (which are not excluded), are excluded from the Settlement Class only to the extent that such Persons or entities had a proprietary (i.e., for their own account) interest in the securities listed in Appendix 1 or 2 of the Notice and not to the extent that they have held the securities in a fiduciary capacity or otherwise on behalf of any third-party client, account, fund, trust or employee benefit plan that otherwise falls within the definition of the Settlement Class. Also excluded from the Settlement Class are any Persons and entities who or which exclude themselves from the Settlement Class by submitting a request for exclusion that is accepted by the Court.

As more fully described in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Final Approval Hearing; and (III) Motion for Attorneys’ Fees and Reimbursement of Litigation Expenses (the Notice), the Litigation alleges that, during the relevant time period, JPM, as depositary bank for the issuance of the American Depositary Receipts or securities listed in Appendix 1 and 2 of the Notice (ADRs), systematically deducted impermissible fees for conducting foreign exchange (FX) from dividends and/or cash distributions issued by foreign companies, and owed to ADR holders.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded on this site. We recommend that you read the Notice and other relevant case documents carefully to fully understand your rights.

WHAT IF I HOLD (OR HELD) THE ELIGIBLE ADRS ON SOMEONE ELSE’S BEHALF?

If you held (i) the securities listed in Appendix 1 of the Notice from November 21, 2010 to July 18, 2018, inclusive, or (ii) the securities listed in Appendix 2 of the Notice from November 21, 2012 to July 18, 2018, inclusive, for the benefit of Persons or organizations other than yourself, you must either: (a) within thirty (30) calendar days of receipt of the Notice, request from the Claims Administrator sufficient copies of the Notice and Claim Form (“Notice Packet”) to forward to all such beneficial owners (the Claims Administrator will provide the appropriate number of requested Notice Packets within seven (7) days of receipt of the request) and within seven (7) calendar days of receipt of those Notice Packets forward them to all such beneficial owners; or (b) within thirty (30) calendar days of receipt of the Notice, send a list of the names and addresses of all such beneficial owners to the Claims Administrator at JPMorgan ADR FX Settlement, c/o KCC Class Action Services, P.O. Box 404068, Louisville, KY 40233-4068, or to Nominees@JPMorganADRFXSettlement.com, in which event the Claims Administrator shall, within fourteen (14) calendar days of receipt of those names and addresses, mail the Notice Packet to such beneficial owners. Upon full compliance with these directions, such nominees may seek reimbursement of their reasonable expenses actually incurred in complying with these directions by providing the Claims Administrator with proper documentation supporting the expenses for which reimbursement is sought. Such properly documented expenses incurred by nominees in compliance with these directions shall be paid from the Settlement Fund, with any disputes as to the reasonableness or documentation of expenses incurred subject to review by the Court. Copies of the Notice and the Claim Form may also be obtained from this website, by calling the Claims Administrator toll-free at 1-866-637-9457 or by sending an email to the Claims Administrator at info@JPMorganADRFXSettlement.com.


IMPORTANT DATES & DEADLINES

To Be Determined

CLAIM FILING DEADLINE

If you are a Non-Registered Holder Settlement Class Member (as defined in the Notice), this is the only way for you to be eligible to receive a payment from the Settlement. If you are a Registered Holder Settlement Class Member (as defined in the Notice), you do not need to take any further action (i.e., submit a Claim Form) to be eligible to receive a payment from the Settlement. 

*Update: Claim Filing Deadline will be adjusted upon entry of a revised Notice Order. Please continue to monitor this site for updates.

April 15, 2019

EXCLUSION DEADLINE

If you are a member of the Settlement Class and choose to exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement. This is the only option that allows you ever to be part of any other lawsuit against the Defendant or any of the other Released Defendant Parties concerning the Released Claims.

April 15, 2019

OBJECTION DEADLINE

If you do not like the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You can only object to the Settlement, the Plan of Allocation or the fee and expense request if you are a Settlement Class Member and you do not exclude yourself from the Settlement Class. 

May 20, 2019 at 10:00 a.m.

FINAL APPROVAL HEARING

To attend the Final Approval Hearing and/or ask to speak in Court about the fairness of the Settlement, see the instructions in the Notice. The Final Approval Hearing will be held on May 20, 2019 at 10:00 a.m. before the Honorable Valerie E. Caproni in Courtroom 443 of the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007.