GO
Loading...

Ex-Bear Stearns Exec Sues for $2 Million Bonus

Associated Press
Monday, 11 May 2009 | 3:16 PM ET

A former executive of Bear Stearns has sued for a $2 million bonus he says he is owed.

CNBC.com Illustration

Gary M. Reback was fired from Bear Stearns in May 2008 as JPMorgan Chase bought the nearly collapsed investment bank.

The suit filed in Manhattan Supreme Court on May 1 names Bear Stearns and JPMorgan as defendants.

Reback claims that even though Bear Stearns was on the verge of going under, he helped make millions of dollars for the Wall Street firm.

Reback also is suing for $1.1 million in severance pay he says Bear Stearns promised him.

Messages left Monday for Reback and his attorney 's Scarsdale home and for his lawyer, Jonathan S. Sack, weren't immediately returned.

JPMorgan spokesman Brian Marchiony said, "Mr. Reback is not owed any money."

  Price   Change %Change
JPM MLP ETN
---

Featured

Banks