Judge Stays Bid To Block Bear Stearns Takeover

Law360, New York (April 10, 2008, 12:00 AM EDT) -- A Delaware court has put the brakes on a lawsuit aimed at blocking the takeover of Bear Stearns Cos. by JP Morgan Chase & Co., staying the case until a New York court rules on a similar matter.

In a ruling handed down on Wednesday, Vice Chancellor Donald Parsons of the Delaware Chancery Court granted a motion filed by Bear Stearns and JP Morgan that asked the court to stay the litigation on the grounds that fighting cases in two courts would be burdensome.

Parsons noted...
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