Bear Stearns Class Action Seeks To Block Buyout

Law360, New York (May 8, 2008, 12:00 AM EDT) -- Investment bank Bear Stearns Cos. Inc. has revealed that a group of shareholders is asking a federal court to block the company’s acquisition by JP Morgan Chase & Co.

In a filing with the U.S. Securities and Exchange Commission on Thursday, Bear Stearns said that investors who filed a combined shareholder derivative and class action against the company last fall in the U.S. District Court for the Southern District of New York have added claims to their suit in an effort to preliminarily enjoin JP Morgan’s...
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