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, […]
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 […]
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 […]
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 […]
ADRWorld.com
In order to make more information available to the public and regulators, the Financial Industry Regulatory Authority (FINRA) recently proposed a rule amendment that would require securities brokerage firms to report brokers who allegedly engaged in a sales practice violation but are not named as parties in an arbitration proceedings or a civil lawsuit. The […]