MDL Judicial Panel Centralizes Class Action Lawsuits in Illinois Because Action in that State is More Procedurally Advanced
Three lawsuits were filed against JP Morgan Chase alleging misrepresentations in connection with its merger in 2004 with Bank One; two lawsuits were filed in Delaware, and one lawsuit was filed in Illinois. The plaintiff in the Delaware lawsuits moved for centralization of the class actions in Delaware. The defense supported centralization, but requested that the cases be transferred to the Southern District of New York. The Illinois plaintiff opposed centralization but if the motion is granted requested that the Delaware cases be transferred to Illinois. In re JP Morgan Chase & Co. Securities Litig., ___ F. Supp.2d ___, 2006 WL 2548202 (Jud.Pan.Mult.Lit., August 24, 2006). Pursuant to 28 U.S.C. § 1407, the Judicial Panel granted the motion for centralization, but selected the Northern District of Illinois as the transferee court because the first lawsuit had been filed in that court and that litigation “is more procedurally advanced than the two Delaware actions.”
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