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BSF Represents Money Manager Bruce Sherman in Securities Fraud Action Against Bear Stearns


BSF partners Philip Korologos and Richard Drubel, representing Bruce Sherman, have filed a securities fraud case against Bear Stearns, certain of its executives, and Bear Stearns’ auditor, Deloitte & Touche. Sherman is the former CEO of asset manager Private Capital Management, which had investment control over almost 6% of Bear Stearns stock. Sherman alleges that defendants repeatedly misrepresented Bear Stearns’ true financial condition, including the value of its assets and the adequacy of its liquidity and capital reserves, both through their public statements and in repeated, direct conversations with Sherman. 

Please follow the below links for media coverage of this case.

Gulf Coast Business Review, November 5, 2009
Bear Trap

Forbes, October 8, 2009
Bear Stearns Lied To Me

The Am Law Litigation Daily, October 2, 2009
In BofA's Very Litigious Week, $4 Billion Case Against Bear Stearns Survives Motion to Dismiss

Am Law Litigation Daily, September 25, 2009
Boies Schiller Files Suit Against Bear Stearns, Claims Former Stockholder Was Fraudulently Induced to Retain Shares

The Wall Street Journal, September 25, 2009
Money Manager Sues Bear Stearns for Misstatements

Dow Jones, September 25, 2009
PCM Co-Founder Sues Bear Stearns For Misstatements

Reuters, September 24, 2009
Major Bear Stearns investor files fraud lawsuit

Related Lawyers: Philip C. Korologos, Richard B. Drubel Jr., Matthew J. Henken

Related Practice: Securities Litigation