Bear Stearns Not Liable For Baron Fraud: Atty

Law360, New York (April 6, 2011, 6:49 PM EDT) -- A Bear Stearns & Co. attorney told the Second Circuit on Wednesday that statements the bank made as A.R. Baron & Co.'s clearing broker weren't enough to put it on the hook for a securities fraud the defunct broker-dealer perpetrated.

The alleged confirmations and other statements that Bear Stearns, now owned by JPMorgan Chase & Co., sent to investors weren't enough to support the plaintiffs' misrepresentation claim, Kerry A. Dziubek of Arnold & Porter LLP told a three-judge panel of the U.S. Court of Appeals for...
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