Fwd: BSAM -- Meetings With Plaintiffs' Lawyers re: Proxies

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Darren K. Indyke
Attorney-At-Law
457 Madison Avenue
4th Floor
New York, New York 10022
Tel: 212-750-1176
Fax: 212-750-0381
e-mail: dkiesq@aol.com

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From:	McCarroll, James C. <JMcCarroll@ReedSmith.com>
Subject:	BSAM -- Meetings With Plaintiffs' Lawyers re: Proxies
Date:	Sun, 21 Oct 2007 13:11:04 GMT
To:	panos@famnyc.com, cmeyering@sciensam.com, dkiesq@aol.com
Cc:	Karides, Constantine <CKarides@ReedSmith.com>, Gotthoffer, Lance <LGotthoffer@ReedSmith.com>

I am attaching an article from yesterday's Boston Herald. We are meeting with Zamansky, the plaintiffs' attorney referenced in the article, on Tuesday. As noted in the article, he says he represents 25 individual investors, who we expect would not otherwise be likely to attend the election. We will seek proxies from all of them.

We are working to set up meetings or conference calls with each of the other individual plaintiffs' attorneys that we are aware of over the next week, to seek proxies from each of their clients.

-Jim

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Galvin probe widens as Hub investors roar
By Jay Fitzgerald | Saturday, October 20, 2007 |
http://www.bostonherald.com <http://owa/exchweb/bin/redir.asp?URL=http://www.bostonherald.com> | Real Estate

As Secretary of State William Galvin expands his probe into Bear Stearns'
alleged role in the subprime-mortgage fiasco, a New York attorney said he hopes
to represent a number of Boston-area investors who claim they lost big bucks
after two Bear Stearns hedge funds collapsed along with the subprime market.

A spokesman for Galvin, whose office oversees the securities industry in
Massachusetts, confirmed yesterday that investigators are looking into what
happened at the two now-defunct hedge funds that had heavily invested in
mortgage-related securities.

Investigators are reportedly zeroing in on whether improper trades were made
between Bear Stearns and its two in-house hedge funds, without telling
investors.

Earlier this year, the two funds failed, costing investors $1.6 billion.

Galvin's probe into the hedge funds, first detailed yesterday in the Wall
Street Journal, is a significant expansion of the scope of his original
investigation.

Last March, Galvin announced his office had subpoenaed documents from Bear
Stearns and UBS Securities over their "positive" research reports about
subprime lenders even though those lenders faced increasing defaults on
subprime loans.

Meanwhile, securities attorney Jacob Zamansky, who says he represents 25
investors who lost money in the two Bear Stearns funds, told the Herald that
he's in contact with a number of affluent individual investors in the Boston
area who lost money in the two hedge funds.

He said he may represent them in any arbitration proceedings against Bear
Stearns, which he said "misrepresented" investors about the risky nature of
the two hedge funds' investment strategies.

A Bear Stearns spokesman could not be reached for comment.

But a spokesman told the Wall Street Journal that investors were made "very
aware" of the risks involved.

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