December 10, 2008

Upheld: JP Morgan’s Purchase of Bear Stearns

Last week, Justice Cahn of the New York State Supreme Court – in In Re: Bear Stearns Litigation – granted summary judgment in dismissing a shareholder challenge to the fairness of JPMorgan’s purchase of Bear Stearns. The decision represents a strong endorsement of the protections that the business judgment rule. In our “M&A Litigation” Portal, we have posted the order denying the motion.

In addition to memos about this decision in our “Fiduciary Duties” Practice Area, you can read analysis in the “D&O Diary” Blog – as well as the Harvard Law School’s “Corporate Governance” Blog.