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Legal News

: Lawyers and Settlements

The Bear Stearns Blame Game

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New York, NY: It seems that Bear Stearns is blaming everyone but themselves. However, the Securities and Exchange Commission is looking into whether or not it was market rumors that led to the firm's demise. If so, such rumors would cause investors to pull their funds and provoke lenders to cut off their credit, leaving the firm wide open for J.P. Morgan Chase to grab it up at $2 per share. It was either agree to the buyout by Chase or file bankruptcy. Bear Stearns agreed to the buyout.

Full post as published by Lawyers and Settlements on March 25, 2008 (boomark / email).

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