Bear Stearns & Co. Sues To Halt $960M Settlement

Law360 (December 13, 2005, 12:00 AM EST) -- Wall Street powerhouse Bear Stearns & Co. is suing to block a $960 million investor class action settlement reached by healthcare firm McKesson Corp., which Bear Stearns advised prior to a disastrous merger in 1999.

Investors sued California-based McKesson, New York-based Bear Stearns and several other companies and individuals in April 1999 after McKesson's $465 million financial restatement.

The complaints were filed in the U.S. District Court for the Northern California.

Bear Stearns alleges co-defendant McKesson breached an engagement letter between the parties by failing to...
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