Friday, 4 September 2015
Last updated 7 hours ago
Aug 19 2013 | 1:07pm ET
JPMorgan Chase has settled a lawsuit stemming from the collapse of two Bear Stearns hedge funds in 2007.
The bank, which bought Bear Stearns in 2008, reached a deal with the liquidators of the two hedge funds in June. Those liquidators, who had been seeking $1.5 billion, and JPMorgan formally asked a judge to dismiss all claims and counterclaims in the case.
The collapse of the two hedge funds, the High-Grade Structured Credit Fund and a more highly-levered sister fund, helped contribute to Bear's eventual demise. The failure cost investors some $1.6 billion.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…