Firm Encourages Current and Former Bear Stearns Shareholders
to Visit www.BearStearnsInvestors.com
UNIONDALE, N.Y., May 27, 2008 (Lawfuel) — Mark & Associates,
P.C., along with its co-counsel, have filed an arbitration request with
the Financial Industry Regulation Authority “FINRA” (FINRA Dispute
Number 08-01208) on behalf of a married couple who lost in excess of
$100,000 after purchasing Bear Stearns (NYSE:BSC) shares. The
arbitration request names the Bear Stearns Companies, Inc. and its
Chief Executive Officer Alan Schwartz as respondents. The Claimant’s
Statement of Claim alleges that the Claimants suffered significant
financial losses when Bear Stearns’ stock precipitously declined, which
was the result of the respondents breaching their fiduciary
responsibility, omitting material facts, and issuing false and
misleading statements. Mark & Associates, P.C. anticipates filing
additional arbitrations in the coming weeks. Bear Stearns investors who
lost in excess of $10,000 can request a free case consultation at
Bear Stearns shareholders suffered staggering financial losses as the
company’s shares lost more than 90 percent of their value from March
13, 2008 to March 17, 2008. On March 13, 2008, Bear Stearns announced
it had received emergency financing from JPMorgan Chase (NYSE:JPM) and
the Federal Reserve, triggering a dramatic sell off of the company’s
shares. The bailout news was followed by an announcement on Sunday,
March 17, 2008, that JPMorgan Chase would acquire Bear Stearns for
$2.00 per share. However, on March 24, 2008 the companies announced
that they modified the merger agreement, with JP Morgan agreeing to
offer to Bear Stearns shareholders $10.00 per share.
Mark & Associates, P.C. believes that Bear Stearns misled shareholders
by making false and misleading statements and by failing to disclose
material facts concerning the company’s business and financial status.
The news of the bailout and subsequent sale of the company came just
days after the company’s CEO appeared on national television to
reassure investors about the company’s finances. Both the Securities
and Exchange Commission (SEC) and the United States Congress have
launched investigations into the bailout and sale of Bear Stearns.
Current and former Bear Stearns shareholders who lost in excess of
$10,000 are encouraged to request a free consultation at
www.BearStearnsInvestors.com. Mark & Associates, P.C. and its
co-counsel plan to file individual claims on behalf of investors who
meet certain criteria. An individual claim is unlike a class action
claim in that the remedies sought with individual claims are based upon
the specific merit and facts of a particular loss. Class action claims
are brought by one or more representatives on behalf of a group of
class members who have similar claims.
Mark & Associates, P.C. has already been contacted by individual
investors, institutional investors and Bear Stearns employees to learn
about their legal rights. Many current and former Bear Stearns
employees have lost a significant portion of, and, in some cases, their
entire retirement savings. Many individual investors who purchased the
stock on margin have had their shares sold out by their brokerage
firms, as their accounts sank below equity limit requirements.
Investors who purchased on margin may not have only lost all of their
equity, but they could actually owe their brokerage houses money if
their investment losses exceeded the equity in their accounts.
Investors can get more information by visiting
A podcast on the Bear Stearns crisis is available at
-the-shareholders-best-interest/. Investors can request a free legal
consultation by completing the submission form on these websites or by
About Mark & Associates, P.C.
Mark & Associates, P.C. is a leading consumer law firm with offices in
Boston, Massachusetts and Long Island, New York. The firm aggressively
represents victims of securities and investment fraud, insurance bad
faith, defective products, dangerous pharmaceuticals and medical
devices and serious accidents. More information on Mark & Associates,
P.C. is available at http://www.youhaverights.com.