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Bear Stearns may have breached its fiduciary duties owed to its pension plan participants.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- Retirement Asset
- Investment Advisor Duties
Product or Service
- Retirement Plan
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending class action lawsuit against Bear Stearns Co. on behalf of all persons who were participants in or beneficiaries of The Bear Stearns Cos. Inc. Employee Stock Ownership Plan (the "Plan") between December 14, 2006 and the present and whose accounts included investments in Bear Stearns common stock.
The ERISA class action complaint alleges that during the Class Period the Bear Stearns breached its fiduciary duties to Plaintiffs and the Class members by:failing to prudently and loyally manage the Plan's assets; failing to monitor fiduciaries; failing to provide complete and accurate information to the Class; and co-fiduciary liability.
The ERISA class action complaint alleges that during the Class Period the Bear Stearns breached its fiduciary duties to Plaintiffs and the Class members by:failing to prudently and loyally manage the Plan's assets; failing to monitor fiduciaries; failing to provide complete and accurate information to the Class; and co-fiduciary liability.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Bear, Stearns & Co., Inc. | Bear, Stearns & Co., Inc. is a division of JP Morgan Chase & Co. Bear Stearns was an investment bank. |