Trust Updates Archive

Bank One Texas Proprietary Mutual Fund Lawusit

Trust Regulatory News has received several inquiries whether the Bank One Texas
proprietary mutual fund lawsuit is a so-called conversion class action.

This suit is not a class action nor is it a conversion case per se. Plaintiff, a beneficiary, alleges
that the bank's restructuring of the trust's portfolio, including investing in the bank's proprietary
mutual funds, resulted in substantial losses. Though the bank was successful in changing venue
to federal court, plaintiff has entered motions seeking to return the case to state court. Plaintiff's
counsel declined to comment on the likelihood of their seeking class action status.

More details in the upcoming issue of TRN.

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