S.E.C. reaches settlement in Bear Stearns case
by Staff Writer
Published: February 10,2012
Time posted: 8:10 am
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The Securities and Exchange Commission has reached a settlement agreement with two former Bear Stearns hedge fund managers over whether the firm misled the nation as the mortgage crisis started, reports the New York Times.
The deal could be announced publicly as early as Monday, and will avert a second trial for the two men.
Ralph R. Cioffi and Matthew M. Tannin, were accused of lying to investors about the health of their hedge funds, which were laden with complex securities backed by subprime mortgages.
Read more at the New York Times.
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