Bear Stearns lawsuits: Who are these guys anyway?

The pension funds seeking a temporary restraining order to delay an acquisition of Bear Stearns Cos. by J.P. Morgan & Chase Co. are no strangers to the Delaware court system. Wayne County Employees Retirement System and The Police and Fire Retirement System of the City of Detroit, while innocently named, are activist shareholders and recently have been involved in shareholder lawsuits concerning the Yahoo! Inc.-Microsoft Corp. deal and Activision Inc.-Blizzard Entertainment just to name a few.

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According to its Web site, Wayne County Employees' Retirement System provides retirement and benefits for 10,000 Wayne County public employees while The Police and Fire Retirement System of the City of Detroit is two systems that administer pension to police and fire employees -- naturally.

Both shareholders sued Yahoo! to consider takeover offers from Microsoft. The Wayne County Employees' Retirement System sued Activision over the recent merger with Vivendi's Blizzard for putting its investors in an "unfavorable minority position". - Maria Woehr

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