Pension Funds Seek to Block Bear Stearns Deal

Law360, New York (March 26, 2008, 12:00 AM EDT) -- The legal battle over the Bear Stearns Cos. buyout has begun. Two Michigan pension funds have asked a Delaware court for a temporary restraining order to block a key part of the deal.

The pension funds filed their request in the Court of Chancery of the State of Delaware late Tuesday seeking to stop the sale of 95 million newly issued shares of Bear Stearns common stock to JP Morgan Chase & Co., a provision of the revised deal announced Monday.

The sale would allow JP...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.