PHILADELPHIA, March 18, 2008 (PRIME NEWSWIRE) -- Law Offices Bernard M. Gross, P.C. has commenced a class action lawsuit in the United States District Court, Southern District of New York, 08cv2866, on behalf of purchasers of the common stock of The Bear Stearns Companies, Inc. ("BEAR STEARNS" or the "Company") (NYSE:BSC) between December 14, 2006 and March 14, 2008, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934. The action is pending before the Honorable Robert W. Sweet.
If you wish to serve as lead plaintiff, you must move the Court no later than May 19, 2008. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross at 866-561-3600 or 215-561-3600 or via email at debbie@bernardmgross.com or susang@bernardmgross.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Bear Stearns and certain of its officers with violations of the Federal Securities Laws. Defendants made false and misleading statements and failed to disclose material facts concerning the Company's business and financial results through out the Class Period. As a result of defendants' false and misleading statements, Bear Stearns stock traded at artificially inflated prices during the Class Period.
After consistent denials that Bear Stearns faced a liquidity problem, defendants suddenly announced on March 13, 2008, after the market closed, news that Bear Stearns was forced to seek emergency financing from the Federal Reserve and J.P. Morgan Chase. A Federal bailout was disclosed and shortly thereafter, defendants announced that Bear Stearns was being bought by JP Morgan Chase for $2 per share.
Plaintiff seeks to recover damages on behalf of all those who purchased the common stock of Bear Stearns (NYSE: BSC) between December 14, 2006 and March 14, 2008. The plaintiff is represented by Law Offices Bernard M. Gross P.C. The firm has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters,
PLEASE CONTACT: Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esq.
Deborah R. Gross, Esq.
Telephone: 866-561-3600 (toll free) or 215-561-3600
E-mail: susang@bernardmgross.com or
debbie@bernardmgross.com.
Website: http://www.bernardmgross.com