Bear Stearns MDL Lawyers Spar Over Consolidation

Law360, New York (November 24, 2008, 12:00 AM EST) -- Attorneys representing shareholders and employees of Bear Stearns Cos. Inc. crammed into Manhattan district court Monday to oppose a bid by the erstwhile Wall Street titan to consolidate their cases.

Responding to a court order to show cause why the securities and derivative suits should not be lumped with cases under the Employee Retirement Income Security Act in the multidistrict litigation, plaintiffs' lawyers told Judge Robert Sweet consolidation was inherently unworkable.

Counsel for the State of Michigan Retirement system, which claimed to have lost $62 million...
To view the full article, register now.