SEATTLE, March 19, 2008 (PRIME NEWSWIRE) -- Keller Rohrback L.L.P. (www.erisafraud.com) announces that it has commenced an investigation against The Bear Stearns Companies Inc. ("Bear Stearns" or the "Company") (NYSE:BSC) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Bear Stearns stock by The Bear Stearns Companies Inc. Employee Stock Ownership Plan (the "Plan").
Keller Rohrback's investigation involves concerns that Bear Stearns and other administrators of the Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings. Specifically, Bear Stearns and the Plan's other fiduciaries continued to invest in and hold Bear Stearns stock in the Plan despite the Company's apparent mismanagement of the risk of assets held by the Company and its gross failure to maintain adequate capital and liquidity.
If you are a participant in The Bear Stearns Companies Inc. Employee Stock Ownership Plan or held Bear Stearns stock in any other ERISA-protected retirement plan offered by the Company, you may contact paralegal Jennifer Tuato'o or attorneys Tyler Farmer, Derek Loeser or Lynn Sarko toll free at 800-776-6044, or at investor@kellerrohrback.com.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings. Keller Rohrback serves as lead and co-lead counsel in numerous ERISA class action cases, including cases against Enron, WorldCom, Inc., and Merrill Lynch, as well as ERISA cash balance pension plan cases, including JPMorgan Chase & Co. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
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