SEC Case Against Cioffi, Tannin To Proceed
Nov 13 2009 | 12:09pm ET
The U.S. Attorney’s Office in Brooklyn, N.Y., couldn’t win a conviction of two former Bear Stearns hedge fund managers accused of lying to their clients. The Securities and Exchange Commission thinks it can do a better job.
The regulator plans to pursue its civil case against Ralph Cioffi and Matthew Tannin, despite the Tuesday acquittal of both men on fraud charges.
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