Securities Fraud Lawyer - Pension Reserves Investment Trust Fund of the Commonwealth of Massachusetts v. Bear Stearns & Co., Inc.

Between 1991 and 1999, Shapiro Haber & Urmy LLP represented the Massachusetts State Pension Fund in a securities fraud action against Bear Stearns & Co., Inc. and others in the U.S. District Court for the Southern District of California. The case arose out of the Pension Fund's investment in a start-up film company by the name of "Weintraub Entertainment Group" and Bear Stearns' placement of approximately $85 million of Weintraub Entertainment Group debentures with a number of its clients, including the Pension Fund. The case was consolidated and tried with a class action arising out of the same private placement. In that case, Shapiro Haber & Urmy LLP obtained a $6.5 million jury award against Bear Stearns after a 4-week trial. The case later settled during the pendency of Bear Stearns' appeal from the entry of the jury verdict.