MATTER OF BEAR STEARNS LITIGATION


2008 NY Slip Op 28500

23 Misc 3d 447

IN THE MATTER OF BEAR STEARNS LITIGATION.

Supreme Court, New York County.

December 4, 2008.


Attorney(s) appearing for the Case

Cadwalader, Wickersham & Taft LLP, New York City ( Gregory A. Markel of counsel), and Sullivan & Cromwell LLP, New York City ( Gandolfo V. DiBlasi of counsel), for Bear Stearns Companies, Inc., defendant.

Wachtell, Lipton, Rosen & Katz, New York City ( Marc Wolinsky and Patricia Kelly of counsel), for JPMorgan Chase & Co., defendant.

Wolf Haldenstein Adler Freeman & Herz LLP, New York City ( Daniel W. Krasner of counsel), and Barrack, Rodos & Bacine, New York City ( Regina M. Calcaterra of counsel), for plaintiffs.


OPINION OF THE COURT

HERMAN CAHN, J.

These consolidated shareholder class actions arise from the precipitous collapse of the Bear Stearns Companies, Inc. (Bear Stearns and the company) and the consequent, federally-assisted merger with JPMorgan Chase & Co. in a stock-for-stock deal with an implied value of $10 per share. Challenging the consideration as inadequate, plaintiffs seek damages from Bear Stearns' directors for claimed violation of their fiduciary...

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