We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Bear Stearns Loses Bid To Block $960M Settlement

Law360 (January 20, 2006, 12:00 AM EST) -- The New York Supreme Court has rejected a bid by Wall Street powerhouse Bear Stearns & Co. to block a $960 million settlement of a class action lawsuit against healthcare firm McKesson Corp., arising from a 1999 financial restatement.

Bear Stearns first took action against the proposed settlement in December 2005, hoping to hold out for a lesser amount or to clear itself altogether of its alleged connection to a disastrous merger in 1999, which led to McKesson's $465 million financial restatement.

The complaints were filed...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.