That was quick. This morning Paul Kedrosky found some Google ads by lawyers wanting to represent Bear Stearns shareholders; by this afternoon, BearStearnsInvestors.com is up and running. There doesn’t seem to be much hard information there about grounds for any lawsuit, but the web page certainly looks pretty.
Alea has advice for lawyers interested in this case:
Current increase in [JPM’s] market cap after the Bear deal: around $11 billion
I will add that this number happens to be very close to Bear Stearns book value.