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Monday, March 17, 2008

Securities lawyers are ready for Bear

So the legal question for the day is how many lawsuits will be born out of the implosion of Bear Stearns? The preliminaries are already underway. (See "Stunned Bear Stearns investors eye legal claims.")

"This is a stock that has gone from 50 to 2 literally overnight, and I also know of people who had assumed that the worst had passed when it closed at 30," said Ira Press, a lawyer at class-action firm Kirby McInerney, which has spoken with investors about the matter.

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