Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, March 26, 2008

Pension Plans Sue Bear Over JPMorgan Merger

Two pension plans have sued the Bear Stearns board in Delaware, alleging that the $10 price for Bear Stearns stock offered by JP Morgan is "grossly inadequate" and that the board breached its duty in agreeing to the price.  They seek a preliminary injunction to stop Bear from selling 95 million shares (39.5%) to JP Morgan to lock up the deal.  WSJ, Big Task: Digesting a Bear.

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