Securities Law Prof Blog

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

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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.

http://lawprofessors.typepad.com/securities/2008/03/pension-plans-s.html

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