• 21 Mar 2012 at 4:05 PM

Jimmy Cayne May Be About To Come Into Some Money!

10-pound bag of Chronic Supernova, consider yourself bought.

Thousands of former Bear Stearns Cos. (BSC) employees will share a $10 million settlement of lawsuits claiming they lost money on the bank’s stock in their retirement accounts. Two ex-Bear Stearns employees yesterday asked a federal court judge in Manhattan to approve the settlement on behalf of an estimated 8,400 former colleagues. The settlement will resolve class-action suits filed beginning in 2008 against Bear Stearns and other defendants by former employees of the bank. The employees, participants and beneficiaries of Bear Stearns’s employee stock ownership plan who held shares of the bank’s common stock, claimed risky investments in subprime mortgages caused them to lose money.

Ex-Bear Stearns Employees to Get $10 Million in Settlement [Bloomberg]
Related: Jimmy Cayne Takes “It’s A Bag Of Oregano” Route In Face Of Drug Use Allegations

16 comments (hidden to protect delicate sensibilities)
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Comments (16)

  1. Posted by Ich bin ein Hakuna | March 21, 2012 at 4:12 PM

    I miss making pitch book gravity bongs (velo bound, natch).

  2. Posted by PermaGuestII | March 21, 2012 at 4:14 PM

    This fucking guy.

  3. Posted by Alt_EST | March 21, 2012 at 4:16 PM

    You ever been through a settlement that benefits you which was a result of a series of lawsuits that was a direct result of your own mismanagement, greed, and short-sightedness…on weed?

  4. Posted by Guest | March 21, 2012 at 4:16 PM

    You cool, man?

  5. Posted by Ex-Lehman Brother | March 21, 2012 at 4:49 PM

    Um, hello?

  6. Posted by that guy | March 21, 2012 at 4:53 PM

    LIke, how?

  7. Posted by Thurgood | March 21, 2012 at 4:54 PM

    Ya'll have smoked yourself retarded.

  8. Posted by Guest | March 21, 2012 at 4:55 PM

    the lawyers will get 90% of whatever there is.

  9. Posted by UBS | March 21, 2012 at 5:02 PM

    10 mill/ thousands of claims= ~10,000….

    talk about bonus time!!

    UBS MD

  10. Posted by guest | March 21, 2012 at 5:24 PM

    +1

  11. Posted by guest | March 21, 2012 at 5:25 PM

    where have you been all week?!

    -Alt_EST fan

  12. Posted by guest | March 21, 2012 at 5:28 PM

    time for more leisure vaporizer hits while playing backgammon

  13. Posted by guest | March 21, 2012 at 5:32 PM

    BRIDGE, okay? BRIDGE.

    -jc

  14. Posted by Anonymous | March 22, 2012 at 4:42 PM

    wait, what?

    1200 per this is 600 after

    = NKI

    Good work if you can get it

    Anna

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  16. Posted by zmosgckph | May 6, 2012 at 7:05 PM

    Ky1le3 bzupehezlhhp