Reuters: Mergers News: Bear Stearns $275 mln settlement reached

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bear Stearns $275 mln settlement reached Jun 7th 2012, 12:23 June 7 | Thu Jun 7, 2012 8:23am EDT June 7 (Reuters) - A $275 million settlement has been reached in a nationwide shareholder lawsuit stemming from the near-collapse of the former Wall Street investment bank Bear Stearns Cos, court papers show. The settlement resolves claims that Bear, and several officials including former Chief Executive James Cayne, misled investors about the company's deteriorating financial health before it was acquired by JPMorgan Chase & Co. The lead plaintiff, the State of Michigan Retirement Systems, filed settlement papers on Wednesday night with the U.S. District Court in Manhattan, and is seeking preliminary court approval of the accord.

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