Pension Funds Seek to Block Bear Stearns Deal

Law360, New York (March 26, 2008, 12:00 AM EDT) -- The legal battle over the Bear Stearns Cos. buyout has begun. Two Michigan pension funds have asked a Delaware court for a temporary restraining order to block a key part of the deal.

The pension funds filed their request in the Court of Chancery of the State of Delaware late Tuesday seeking to stop the sale of 95 million newly issued shares of Bear Stearns common stock to JP Morgan Chase & Co., a provision of the revised deal announced Monday.

The sale would allow JP...
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