The Bear Stearns Companies, Inc. Shareholder Buyout Litigation
Practice:
Securities Fraud & Shareholder Litigation
Phase:
Settled / Closed The Lawsuit seeks damages and alleges that Bear Stearns’ directors (aided and abetted by JPMorgan) breached their fiduciary duties, including the duties of loyalty and care, by failing to: fully inform themselves of the value of Bear Stearns; act in the best interests of all of the shareholders; and, implement a proper process in connection with the Merger to evaluate and investigate alternatives to the Merger. JPMorgan was put in a special and favored position with respect to any acquisition of Bear Stearns to the detriment of Bear Stearns’ shareholders. Further, the action alleges that JPMorgan unfairly exercised its control over Bear Stearns in extracting the terms of the merger.
On December 4, 2008, the New York Supreme Court issued an opinion in the case granting summary judgment to Defendants. An appeal from the Court’s opinion is currently pending.
If you wish to discuss this Action or have any questions concerning your rights or interests, please contact Pamela S. Tikellis, Robert J. Kriner or Zach Naylor toll free at 1-866-399-2487 or via email at the addresses below.
| Attachment | Size |
|---|---|
| Class Action Complaint: Wayne County Employees’ Retirement System v. Cayne, et al., Filed March 24, 2008 | 940.72 KB |
Attorneys to Contact:
Pamela S. Tikellis (PamelaTikellis@chimicles.com)
Robert J. Kriner, Jr. (RobertKriner@chimicles.com)
A. Zachary Naylor (ZN@chimicles.com)
P.O. Box 1035, 222 Delaware Ave, Suite 1100, Wilmington, DE 19801 Phone: 302-656-2500