March 17, 2008 / 8:14 PM / 11 years ago

Massachusetts pension fund weighs suing Bear Stearns

NEW YORK, March 17 (Reuters) - The Massachusetts pension fund is reviewing whether to sue Bear Stearns BSC.N to recover money it lost as a result of the plunge in the investment bank’s stock, a state official with the fund said on Monday.

The $54 billion pension fund routinely conducts analyses of its legal options in such cases, he said. The fund owned stock valued at $24 million in Bear Stearns, which has agreed to be bought by JPMorgan Chase (JPM.N) for $2 a share

Reporting by Joan Gralla; Editing by Dan Grebler

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