BigClassActions.com

Bank One Merger



New York, NY: (Oct-16-07) A class action lawsuit was brought against Bank One Corp., alleging that the prospectus issued by Bank One in connection with the merger of Old Banc One and First Chicago contained materially false and misleading statements. The suit claimed that financial statements contained in the prospectus relating to Old Banc One's credit card subsidiary, First USA Bank, N.A., were misleading. Bank One denied the allegations and did not admit any wrongdoing, though it did agree to pay $28 million to settle all claims asserted against it by class members. Sources state that the class comprises of members who purchased shares of Banc One common stock during the period from August 6, 1998 through October 1, 1998, both dates inclusive. Anyone who received Bank One common stock through the conversion of their Old Banc One common stock to Bank One common stock issued in connection with the merger between Old Banc One and First Chicago NBD, effective on October 2, 1998 can be considered part of the class. [YAHOO: BANK ONE MERGER]


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