Lawsuits that don’t sound promising
A former Bear Stearns executive has sued the investment bank to get a $2 million bonus he says he’s owed. Mark Reback says even though Bear Stearns was on the verge of collapse, he helped make millions of dollars for the Wall Street firm.
Reback also is suing for more than $1 million in severance pay he claims he was promised.
A spokesman for JP Morgan, which bought Bear last July, says simply “Mr. Reback is not owed any money.”
In other news, former Enron CEO Jeff Skilling filed an appeal today with Supreme Court, asking that his 2006 convictions be overturned.
Skilling’s attorney says “pervasive media coverage” prevented him from getting a fair trial.
It apparently had nothing to do with the pervasive evidence presented in the case.
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