Bear Stearns To Reimburse Employees Fighting Suits

Law360, New York (March 19, 2008, 12:00 AM EDT) -- As beleaguered investment bank Bear Stearns Cos. gears up to fight what promises to be a slew of lawsuits over its collapse, the bank has reportedly changed its bylaws to help employees involved in the defense of the suits pay for legal expenses.

Dow Jones reported that in a filing with the U.S. Securities and Exchange Commission on Wednesday, Bear Stearns said that the amendment allows employees to be reimbursed by the company for legal fees incurred in defending the lawsuits.

“Expenses, including attorneys' fees, incurred...
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