CINCINNATI, March 19, 2008 (PRIME NEWSWIRE) -- The class action Cincinnati law firm of Statman, Harris & Eyrich, LLC announces it is investigating the Bear Stearns Companies, Inc. ("Company") (NYSE:BSC) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the Bear Stearns Employee Stock Ownership Plan and other Company retirement or deferred compensation plans that purchased or held Bear Stearns stock ("Plans").
This investigation focuses on whether fiduciaries of the Plans breached their fiduciary duties by failing to prudently manage the Plans' assets by, among other things, offering Bear Stearns stock as an investment option when it was no longer prudent to do so or encouraging that the Plans invest in Bear Stearns stock while withholding or concealing material business or financial information from the Plans' participants and beneficiaries. Specifically, the firm is investigating whether fiduciaries of the Plans knew, or should have known, that Bear Stearns was exposed to precarious collateralized debt obligations and sub-prime investments.
Current and former employees of Bear Stearns who currently hold Bear Stearns stock in any of the Plans may have a claim to recover losses in their retirement investment. If you are interested in protecting the value of your investment, please contact Jeffrey P. Harris, Esq. or Elizabeth L. Hutton, Esq. at (513) 621-2666 or (888) 876-7881, or via e-mail at jharris@statmanharris.com or ehutton@statmanharris.com for further information without any obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; and Dayton, Ohio. www.statmanharris.com