Bear Stearns To Cough Up Millions In Investigation

Law360, New York (March 14, 2006, 12:00 AM EST) -- One of the biggest U.S. securities firms, Bear Stearns Cos., has reportedly reached a $250 million settlement with regulators over charges that the firm deceived investors by assisting hedge funds in illegally trading mutual fund shares.

The arrangement caps off a two-year investigation into the firm’s role in a mutual fund trading scandal, Bloomberg News reported. Bear Stearns’ name had come up in an investigation by New York Attorney General Eliot Spitzer, who had been probing the securities industry back in September 2003.

The crackdown in...
To view the full article, register now.