BSC sucks, but at these levels it may be a buy because I sense a big bailout form somewhere. Market will rebound. Good time 2 buy the dip.
I made a ton of money on this one today but I got to believe there are going to be lawsuits in the pipeline given the CEO comments on CNBC the other day.
Watch..markets will close green again like yesterday no time to be short. The fed will crush all shorts. Goog only down 5 bucks. No a big deal.
Yo $Cost. took balls of steel to hold onto that entry (and go in further at 29), assuming you went long!
Bear Stearns (BSC) Derivative Lawsuit Our lawyers and attorneys are currently investigating claims on behalf of current shareholders of Bear Stearns to determine whether a shareholder derivative lawsuit may be warranted. A shareholder derivative suit is a lawsuit instigated by a shareholder of a corporation, not on the shareholder's own behalf, but on behalf of the corporation. The shareholder brings an action in the name of the corporation against the parties allegedly causing harm to the corporation. Often derivative suits are brought against officers or directors of a corporation for violations of fiduciary duties owed to the shareholders vis-a-vis the corporation. Any proceeds of a successful action are awarded to the corporation. Often, derivative suits can be a strong vehicle for corporate governance reform. Our Derivative Lawyers and Attorneys are Investigating Shareholders in Derivative Lawsuit Cases. In 2007, Bear Stearns was forced to write down a total of $1.9 billion due to its over-exposure to subprime mortgages. There is evidence that Bear Stearns developed a scheme to conceal its risky subprime mortgage portfolio and overstated its financial condition, all the while assuring investors the company had sound risk management. Bear Stearns shares have fell 42 percent in 2007, and its market value has fallen about $10 billion since mid-January 2007. The massive write-downs followed the summer collapse of two Bear Stearns hedge funds that invested heavily in collateralized debt obligations that were backed by subprime mortgages and became essentially illiquid. Following the collapse of those hedge funds, federal prosecutors began a criminal probe of the company. While Bear Stearns stockholders saw the value of their shares decline all year, some investors managed to dump their stock before the 2007 write downs. Those fortunate Bear Stearns stockholder were Alan Greenberg, Sam Molinaro, James Cayne and Warren Spector -- all top officers at Bear Stearns. Between them, the four quietly cashed out more than $57 million worth of company stock before the crisis hit. The executives saved themselves nearly $16 million by their well timed sales, which were disclosed in a series of public filings. Company filings also reveal that Bear Stearns awarded a staggering $140 million in bonuses to top executives in 2006, just before the crisis left other Bear Stearns investors reeling. The legal fallout from the Bear Stearns subprime debacle is only starting. In December 2007, Barclays Bank filed a lawsuit against Bear Stearns claiming that the company loaded one of its hedge funds with about $500 million in troubled assets just weeks before it collapsed with another fund. Barclays accused Bear Stearns of starting a hedge fund in 2006 so it could offload the risky assets of another one of its hedge funds that was running into trouble. If you are a Bear Stearns shareholder and suffered a financial loss, you may have valuable legal rights. Please contact us by filling out or online form or calling 1-800-LAW INFO (1-800-529-4636) for a free consultation with one of Our shareholder derivative lawsuit attorneys. HOMEPAGEFIRMS BEING INVESTIGATEDAruba Networks ARUNBear Sterns BSCBeazer Homes USA BZHBiogen Idec Inc. BIIBCitigroup CEnerNOC ENOCEnron ENEGlobal Cash Holdings GCAGlu Mobile Inc. GLUUMerril Lynch MERMichael Baker Corp. BKRMoneygram Intl. MGINovacea Inc. NOVCPhysicians Formula FACEVCA Antech WOOFABOUT THE FIRMFREE CONSULTATION
and TRAD is saying, after being busted for Naked shorting, BSC set it all up. LOL. Lay down w/dogs.............