Case 1:23-cv-03903-JSR

Document 39

Filed 08/09/23

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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

CITY OF MIAMI GENERAL EMPLOYEES &
SANITATION EMPLOYEES RETIREMENT
TRUST and OPERATING ENGINEERS
CONSTRUCTION INDUSTRY AND
MISCELLANEOUS PENSION FUND

23-cv-03903 (JSR)

ORDER

Plaintiff,

-V-

JAMES DIMON, STEPHEN B. BURKE, TODD A. COMBS, JAMES S. CROWN, TIMOTHY P. FLYNN, MELLODY HOBSON, JOHN W. KESSLER, PHEBE N. NOVAKOVIC, and JAMES E. STALEY,

Defendants,

and

JPMORGAN CHASE & CO.,

Nominal Defendant.

JED S. RAKOFF, U.S.D.J.:

On July 6, 2023, defendants James Dimon, Stephen B. Burke, Todd A. Combs, James S. Crown, Timothy P. Flynn, Mellody Hobson, John W. Kessler, Phebe N. Novakovic, and James E. Staley and nominal defendant JPMorgan Chase & Co. (“JPMorgan”) filed motions to dismiss the operative complaints in the above-captioned cases. SeeDkt. 24; Dkt. 28. Upon consideration of all parties’ written submissions, the Court hereby grants those motions on the ground that plaintiffs have failed to make pre-suit demand on the board of directors of JPMorgan or adequately allege that doing so would be futile. In light of this

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Case 1:23-cv-03903-JSR

Document 39

Filed 08/09/23

Page 2 of 2

conclusion, Court does not reach defendants' motion to dismiss pursuant to Federal Rule of Civil Procedure 12 (b) (6) for failure to state a claim upon which relief may be granted.

An opinion explaining the reasons for these rulings will follow in due course, at which time judgment will be entered.

The Clerk of the Court is respectfully directed to close entry numbers 24 and 28.

SO ORDERED.

New York NY
August 9, 2023

<signature>
JEOL S. RAKOFF, U.S.D.J.

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