Bear Stearns Fights Lawyer In Securities Class Action

Law360, New York (September 3, 2008, 12:00 AM EDT) -- Bear Stearns Cos. Inc. has urged a court to toss the counterclaims of a disgraced New York attorney in a revived class action over defunct securities firm Sterling Foster & Co.

The collapsed investment bank told the U.S. District Court for the Eastern District of New York on Tuesday that Alan Novich – a disbarred attorney who was convicted of conspiring with Sterling Foster's founder to defraud investors – had neither standing to sue nor any actionable claim.

Bear Stearns, who is named as Sterling Foster's...
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