Bear Stearns says new suit seeks to block merger
NEW YORK (Reuters) - Bear Stearns Cos Inc BSC.N disclosed on Thursday that some shareholders want a federal judge to block the troubled investment bank's impending takeover by JPMorgan Chase & Co (JPM.N: Quote, Profile, Research).
According to a filing with the Securities and Exchange Commission, Cohen v. The Bear Stearns Coswas filed in Manhattan Federal Court. Plaintiffs seek permission to file a motion that would stop the merger.
This suit is separate from a shareholder lawsuit filed in New York State court that also wanted to stop the controversial bank merger.
On Wednesday, the state suit plaintiffs withdrew a motion to prevent JPMorgan from voting a large block of shares it acquired on April 8 during the May 29 special shareholder meeting.
The state suit will still go forward, although it is now focused on winning as much as $2.8 billion of damages for Bear investors.
(Reporting by Joseph A. Giannone; Editing by Andre Grenon)
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