Maddox Hargett & Caruso in Fishers said it plans to team with three other law firms to sue Bear Stearns on behalf of investors in the Wall Street firm's failed hedge funds.
Bear Stearns has been buffeted in recent weeks as it announced that it has had to rescue two funds that lost money as a result of the collapse of the subprime housing market. Early this month, its co-president resigned..
The other law firms are Aidikoff Uhl & Bakhtiari of Beverly Hills, Calif.; David P. Meyer & Associates Co. of Columbus, Ohio; and Page Perry of Atlanta.
Maddox attorney Mark Maddox said he is aware of only one class-action suit filed against Bear so far, by an entity called Navigation Partner LP.