Bloomberg reports that Eastside Holding Inc. has filed a complaint in Manhattan federal court asking for unspecified damages and requesting permission to proceed as a class action representing all investors who bought Bear Stearns stock from Dec. 14, 2006, through March 14, 2008. Also named in the complaint were Bear Stearns Chairman James Cayne and Chief Executive Officer Alan Schwartz. -- George White
Paulson's proposal to purchase an equity stake in Yellow Pages publisher Idearc is the second time in recent months an investor group has used its prepetition debt position to execute a bargain price 'exit LBO.'
