Legal Updates
Lawsuits Begin After Schwab Bond Fund Plummets
Tuesday, April 01, 2008
The Charles Schwab YieldPlus Fund a popular offering in recent years that sought to offer investors attractive yields with minimal changes in share price has become the target of litigation over a bond fund that has declined substantially amid the subprime-mortgage meltdown. The fund wasn't a money-market fund, but instead…
Chairman at Bear Stearns Sells Stock
Friday, March 28, 2008
On March 27, 2008, James Cayne, Chairman of Bear Stearns Cos Inc (BSC) sold $61.3 million of his shares of the company. As a result of this sale, the bank's shareholders are unlikely to get a higher price for their shares. JPMorgan agreed earlier this week to increase its original…
JPMorgan In Battle to Integrate Bear Stearns Staff
Thursday, March 27, 2008
JPMorgan Chase & Co's (JPM) biggest test in integrating Bear Stearns Cos (BSC) may be making sure there's still something left to join together. An exodus of Bear employees, who could take their unsettled clients with them, may further erode what value is left at the fallen investment bank. "The…
U.S. Senate Probes Bear Stearns Deal
Wednesday, March 26, 2008
Bear Stearns shareholders aren't the only ones questioning the bargain-basement buyout of the investment bank. Top lawmakers want additional information about the government's role in pushing the sale of Bear Stearns Cos. to JPMorgan Chase & Co. The deal, negotiated earlier this month, was altered on March 24, 2008, when…
Bear Stearns Buyout A Reality for Employees
Tuesday, March 25, 2008
When JPMorgan Chase & Co (JPM) raised its bid five-fold for Bear Stearns Cos (BSC) Employees at Bear Stearns were hardly celebrating the day. Alternatively, resignation, bitterness and anger gripped Bear staffers, who are also major shareholders, as they bustled into the fallen investment bank's headquarters in New York. The…
Purchase Price for Bear Stearns Increased
Monday, March 24, 2008
JPMorgan Chase & Co.'s higher offer for Bear Stearns on March 24, 2008 gave the investment bank control of nearly 40% of its ailing rival, blunting the threat that angry shareholders might scuttle the deal. The $2.4 billion lifeline to rescue the investment house stands a strong chance of success…
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