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: Lawyers and Settlements

Bear Stearns: Personal Fortunes Wiped Out Overnight

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New York, NY: As the bewilderment and disgust over the Bear Stearns debacle washes through Wall Street, it is becoming clear that no one is going to let the firm go for the disparaging price of $2 a share. The current figure bandied about by JP Morgan Chase, the hopeful suitor, is now $10 per share—and that figure might go even higher if rival bidders step up to the plate in an effort to gain control of the beleaguered trader. To be sure, the higher the share price at the time of the sale, the better it will be for Bear Stearns employees who hold company stock in their 401(k) retirement plans.

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

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