SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 17, 2000
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THE BEAR STEARNS COMPANIES INC.
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(Exact name of registrant as specified in its charter)
DELAWARE File No. 1-8989 13-3286161
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
245 Park Avenue, New York, New York 10167
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (212) 272-2000
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Not Applicable
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(former name or former address, if changed since last report)
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Item 5. Other Events
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Bear, Stearns & Co. Inc. ("Bear Stearns"), Bear, Stearns Securities
Corp. ("BSSC") and Bear Stearns Forex, Inc. ("Forex"), affiliates of The Bear
Stearns Companies Inc. (the "Company"), and a registered representative, are
defendants in the litigation captioned Henryk de Kwiatkowski v. Bear, Stearns &
Co. Inc., et al., filed on June 25, 1996 in the United States District Court for
the Southern District of New York by a former customer. On May 17, 2000, a jury
returned a verdict finding that Bear Stearns, BSSC and Forex had committed
negligence and awarded damages in the amount of $111,500,000. No liability was
found with respect to the registered representative. The jury also found that
defendants had not breached any fiduciary duties.
The Company plans to file appropriate motions to overturn the verdict
in the district court and if such motions are unsuccessful, to appeal the
verdict. The Company believes that the verdict, if it stands, will not have a
material adverse effect on the financial condition of the Company, taken as a
whole.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(a) Financial Statements of Businesses Acquired:
Not applicable.
(b) Pro Forma Financial Information:
Not applicable.
(c) Exhibits:
Not applicable.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE BEAR STEARNS COMPANIES INC.
By: /s/ Marshall J Levinson
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Marshall J Levinson
Controller and Assistant Secretary
(Principal Accounting Officer)
Dated: May 19, 2000
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