Stember Feinstein Doyle & Payne, LLC Announces Its Investigation

Stember Feinstein Doyle & Payne, LLC Announces Its Investigation Relating to the Bear Stearns Employee Stock Ownership Plan, Profit Sharing Plan and Deferred Compensation Plan

PITTSBURGH--(BUSINESS WIRE)
March 14, 2008

The law firm of Stember Feinstein Doyle & Payne, LLC is investigating possible illegal conduct relating to the Bear Stearns Companies Inc. Employee Stock Ownership Plan, Profit Sharing Plan and Deferred Compensation Plan (NYSE: BSC).

Stember Feinstein Doyle & Payne is investigating whether certain fiduciaries of the Plans may have violated the Employee Retirement Income Security Act of 1974 ("ERISA"). The firm’s investigation relates to whether certain fiduciaries of the Plans knew or should have known that Bear Stearns was concealing its large exposure to highly risky Collateralized Debt Obligations, subprime mortgages, and other poor-quality securities, which has rendered Bear Stearns common stock and certain funds that it manages and offers as a risky investment for Plan participants.

Specifically, the firm is investigating whether Bear Stearns breached its fiduciary obligations under ERISA:

(1) by continuing to offer Bear Stearns common stock and mutual funds as an investment option for participant contributions when it was imprudent to do so; and

(2) by failing to take action to sell Bear Stearns stock and mutual funds or otherwise protect the Plans’ assets in light of the company’s risky business strategies and deteriorating financial conditions

Ellen M. Doyle of Stember Feinstein Doyle & Payne has been appointed class counsel to represent numerous classes of ERISA plan participants and has served as lead or co-lead counsel in actions recovering more than $100 million for pension plans and their participants. Please visit the Stember Feinstein Doyle & Payne (www.stemberfeinstein.com) website for more information about Ms. Doyle and the firm.

If you have an individual account with the Bear Stearns Employee Stock Ownership Plan, the Bear Stearns Profit Sharing Plan, or the Bear Stearns Deferred Compensation Plan, you may have legal claims under ERISA. If you wish to discuss this matter or have any questions concerning your rights with regard to this matter, please contact:

Ellen M. Doyle
Stephen M. Pincus
Stember Feinstein Doyle & Payne
429 Forbes Avenue, Suite 1705
Pittsburgh, PA 15219
Tel.: (412) 281-8400
www.stemberfeinstein.com

email: info@stemberfeinstein.com


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Contacts
Stember Feinstein Doyle & Payne
Ellen M. Doyle or Stephen M. Pincus, 412-281-8400
email: info@stemberfeinstein.com