Bear Stearns Companies Inc (The) (NYSE: BSC) Investor Securities Class Action Lawsuit 03/17/2008

If you purchased any of the following Bear Stearns Companies (The) securities: Bear Stearns Common Stock (NYSE: BSC) (CUSIP 073902108), Bear Stearns Options, Bear Stearns Series E Preferred Stock (CUSIP 073902702), Bear Stearns Series F Preferred Stock (CUSIP 073902876), Bear Stearns Series G Preferred Stock (CUSIP 073902868), Bear Stearns CAP Units and/or Restricted Stock Units, you have certain options and you should contact the Shareholders Foundation Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Bear Stearns
Case Name: 
Bear Stearns Shareholder Class Action Lawsuit 03/17/2008
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Approved
Affected Securities
NYSE: BSC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/17/2008
Class Period Begin: 
12/14/2006
Class Period End: 
03/14/2008
Court of Filing: 
U.S. District Court for the Southern District of New York
Date Settled: 
11/29/2012
Settlement Amount: 
$275,000,000
Deadline to Participate in Settlement: 
10/25/2012
Summary: 

November 29, 2012 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.

June 12, 2012 - The court preliminarily approved the settlement.

June 5, 2012 - Parties filed a stipulation of settlement.

January 19, 2011 - The court denied the defendants' motion to dismiss.

July 16, 2009 - The court denied the January 20, 2009 motion for reconsideration.

April 24, 2009 - The defendants filed a motion to dismiss.

February 27, 2009 - The lead plaintiff filed an amended consolidated complaint.

January 20, 2009 - A plaintiff filed a motion for reconsideration.

January 5, 2009 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

August 19, 2008 - An additional lead plaintiff motion was filed.

May 16, 2008 - Lead plaintiff motions were filed.

March 17, 2008 - An investor in shares of Bear Stearns Companies (The) (NYSE: BSC) filed a lawsuit in the U.S. District Court for the Southern District of New York against Bear Stearns Companies (The) over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 14, 2006 and March 14, 2008.

The complaint charges Bear Stearns Companies (The) and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The plaintiff alleges that between December 14, 2006 and March 14, 2008, defendants issued materially false and misleading statements regarding Bear Stearns Companies (The)’s business and financial results. The complaint further alleges that as a result of defendants’ false statements, Bear Stearns Companies (The) (NYSE: BSC) stock traded at artificially inflated prices, reaching a high of $159.36 per share in April 2007. In late June 2007, news about Bear Stearns Companies (The)’s risky hedge funds began to enter the market and its stock price began to fall. On March 10, 2008, information leaked into the market about Bear Stearns Companies (The)’s liquidity problems, causing the stock to drop to as low as $60.26 per share before closing at $62.30 per share. On March 13, 2008, news that Bear Stearns Companies (The) was forced to seek emergency financing from the Federal Reserve and J.P. Morgan Chase hit the market and Bear Stearns Companies (The) stock fell to $30 per share. Then, on Sunday, March 16, 2008, it was announced that J.P. Morgan Chase was purchasing Bear Stearns Companies (The) for $2 per share. By midday on Monday, March 17, 2008, Bear Stearns Companies (The) (NYSE: BSC) stock had collapsed another 85% to $4.30 per share on volume of 75 million shares.

Bear Stearns Companies (The), through its broker-dealer and international bank subsidiaries, provides investment banking, securities and derivatives trading, clearance, and brokerage services worldwide