Friday, 22 August 2014
Last updated 9 hours ago
Jun 13 2008 | 2:00am ET
Barclays has filed an amended lawsuit against Bear Stearns, to take into account new revelations since Bear’s collapse and its subsequent takeover by JPMorgan Chase.
The British banking giant in December sued Bear for fraud, conspiracy and breach of fiduciary duty, accusing the Wall Street firm of lying about the performance of its High-Grade Structured Credit Strategies Enhanced Leverage Master hedge fund. That fund was one of two Bear hedge funds that collapsed last summer under the weight of the credit crisis.
Barclays' amended lawsuit was filed last week with Manhattan federal court. The bank is trying to recoup losses and recover damages from Bear and Bear Stearns Asset Management, as well as former fund managers Ralph Cioffi and Matthew Tannin.
The amended suit does not name JPMorgan as a defendant.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note