Bear Stearns Investor Group Says $275M Deal Not Enough

Law360, New York (September 19, 2012, 7:16 PM EDT) -- A group of Bear Stearns Cos. Inc. shareholders on Wednesday pilloried the investment firm's recent $275 million settlement in multidistrict litigation over its collapse, telling a New York federal judge the deal paled in comparison to billions in investor losses.

Charles B. Manuel Jr. of Shiboleth LLP, an attorney for some of the plaintiffs in the MDL, objected to the June 6 settlement. The deal would resolve claims that Bear Stearns and numerous former executives made misleading statements about the investment bank's financial health and its...
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