Securities Law Prof Blog

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

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Tuesday, March 18, 2008

SEC Staff on Bear Stearns Situation

The SEC website has posted Answers to Frequently Asked Investor Questions Regarding The Bear Stearns Companies, Inc.  As part of a response to a question about SEC involvement in the JPMorgan Chase/Bear Stearns merger, the SEC stated:

The Division of Enforcement wrote a letter concerning investigations and potential future inquiries into conduct and statements by Bear Stearns before the public announcement of the transaction with JPMorgan. The staff declined to provide assurances about possible future enforcement actions. The letter states that reaching conclusions about those inquiries would be premature. In the letter, the Division confirmed that, consistent with prior statements and guidance by the SEC, the staff would favorably take into account the circumstances of the JPMorgan acquisition of Bear Stearns when considering whether to recommend enforcement action against JPMorgan arising out of statements made by Bear Stearns in the 60 days before the public announcement of the merger

http://lawprofessors.typepad.com/securities/2008/03/sec-staff-on-be.html

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