Berger Montague Named Lead Counsel In JP Morgan Cash Sweep Case

Berger Montague, a national plaintiffs’ law firm, is pleased to announce that it has been named Lead Counsel in a proposed class action arising out of cash sweep programs maintained by JP Morgan. The lawsuit alleges that these cash sweep programs use clients’ uninvested cash to reap substantial profit for JP Morgan while paying their clients unreasonably low interest rates.

Berger Montague remains at the forefront of recent litigation against financial institutions that maintain unlawful cash sweep programs. “We will continue to vigorously pursue these important cases,” said Michael Dell’Angelo, Executive Shareholder and General Counsel of Berger Montague. “The proposed classes have lost hundreds of millions of dollars of interest due to the improper use of their uninvested cash,” added Mr. Dell’Angelo.

In naming Berger Montague Lead Counsel, the Court considered “Berger Montague’s deep involvement in this case and its history litigating similar ‘cash sweep program’ cases in this district.”

Berger Montague’s team is led by Mr. Dell’Angelo, Andrew Abramowitz, and Alex B. Heller.

Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. The firm is active in the fields of antitrust, commercial litigation, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For more than 50 years, Berger Montague has played lead roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, Washington, D.C., and Wilmington, DE.