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Fund losses prompt claims

Miami Herald

A handful of investors in hedge funds run by Key Biscayne bond trader John Devaney filed arbitration claims in the year before the funds collapsed, seeking to recoup their losses from his broker-dealer affiliate, United Capital Markets. The hedge funds, managed by United Capital Asset Management, an affiliate of United Capital Markets, were pronounced dead […]

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In Bear Stearns Case, Question of an Asset’s Value

New York Times

How much is your investment worth? That might seem like a simple question on Wall Street, where the price of everything from Apple to zinc flickers across computer screens every day. But inside Bear Stearns, the answer was anything but clear last spring for investors who put their money into two giant, but ultimately doomed, […]

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Cioffi Fund Hoisted in Vodka With Tannin Began Bear's Endgame

Bloomberg

Bear Stearns Cos. hedge fund manager Ralph Cioffi raised a vodka toast to his own survival on March 2, 2007, after posting a 0.08 percent loss in one of the subprime mortgage securities portfolios he was managing, according to a federal criminal indictment filed yesterday. “We have our health and families,” Cioffi told fellow portfolio […]

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Firms, Not Brokers, Faulted on Auction-Rates

Wall Street Journal

Despite the anger harbored by Main Street investors toward brokers who sold them auction-rate securities, some of the people trying to protect consumers say individual brokers may not be to blame. Instead, some regulators and investors’ lawyers argue, brokerage firms are responsible. The firms had a bird’s-eye view of the now-frozen auction-rate securities market and […]

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Investors File Claims Against Bear Stearns

Wall Street Journal

A group of four law firms has filed additional investor arbitration claims against Bear Stearns Cos. and a fund manager alleging the firm was less than candid with investors in one of its hedge funds. “Our investigation indicates that officials at Bear Stearns engaged in a concerted effort to conceal the true state of affairs […]

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