Friday, June 22, 2012

Bear stearns settlement

  • (Reuters) - A $275 million settlement has been reached in a nationwide shareholder lawsuit stemming from the near-collapse in 2008 of Wall Street investment bank Bear Stearns Cos.
  • (Reuters)
  • Investor lawsuits were hardly a surprise after the collapse of Bear Stearns in 2008. Its shares dropped off a cliff during the year preceding March 14, 2008. On its deathbed, Bear Stearns was snapped up by J.P. Morgan Chase at a deep discount.
  • (Forbes)
  • June 7 (Bloomberg) -- JPMorgan Chase Co.s Bear Stearns unit agreed to a proposed $275 million cash settlement of a consolidated federal lawsuit filed by investors who lost money from 2006 to 2008.
  • (San Francisco Gate)
  • covering all those investors who had Bear Stearns' common share and call options, as well as the sellers of Bear put options from December 14, 2006 till March 14, 2008.
  • (Yahoo Finance)
  • A year after filing the charges, in November 2008, the Massachusetts Securities Division reached a $9.3 million settlement with Bear Stearns Asset Management. By then BSAM was owned by JPMorgan Chase Co.
  • (Law.com)
  • Deloitte Touche agreed to pay $19.9 million to settle claims by investors who lost money in the stock of JPMorgan Chase Co. (JPM)'s Bear Stearns unit from 2006 to 2008.
  • (Bloomberg)
  • Chase famously bought Bear Stearns for $2 per share during the height of the financial crisis. This is good news for Michigan taxpayers, Schuette said in a statement.
  • (Housing Wire)

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