LOS ANGELES, March 18, 2008 (PRIME NEWSWIRE) -- Liner Yankelevitz Sunshine & Regenstreif LLP ("LYS&R") has commenced an investigation relating to Bear, Stearns & Co. Inc. ("Bear Stearns" or the "Company") and potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Bear Stearns by the Bear Stearns Companies Inc. Employee Stock Ownership Plan, Profit Sharing Plan, and Deferred Compensation Plan (the "Plans").
LYS&R's investigation focuses on concerns that Bear Stearns and the Plans' fiduciaries may have breached their fiduciary duties of loyalty and prudence to the Plans' participants. A breach may have occurred if the fiduciaries failed to prudently manage the Plan's assets, by among other things, offering Bear Stearns stock as a Plan investment option, requiring participants to invest in the stock, and investing and holding Company contributions in the stock at a time when the stock was not a suitable and appropriate investment option. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plans' participants with respect to the Company's business, financial results, and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of Company stock in the Plans.
If you are a member of any of the Plans and would like to discuss this matter or provide information relevant to our investigation, you may contact any member of our team toll free at (866) 620-6722, or via e-mail at classaction@linerlaw.com.
Liner Yankelevitz Sunshine & Regenstreif LLP is one of America's leading law firms handling ERISA retirement plan litigation. Our attorneys helped pioneer this field in the Rite-Aid and McKesson ERISA breach of fiduciary duty cases, among the first large-scale ERISA 401(k) cases filed. Visit our website at www.californiaclassaction.com.