Insider Trading Charge Stands For Bear Stearns Exec

Law360, New York (July 15, 2009, 12:00 AM EDT) -- A federal judge has refused to dismiss an insider trading charge in criminal proceedings against a former Bear Stearns Cos. hedge fund manager who federal prosecutors claim defrauded investors at two funds that collapsed in 2007, flooding the market with mortgage-backed securities.

Judge Frederic Block of the U.S. District Court for the Eastern District of New York denied Ralph Cioffi's motion to dismiss the insider trading count, according to minutes of a status conference held Tuesday.

The court's reasoning was not disclosed in court documents....
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