Grassley Probes SEC, JPMorgan Contact In Bear Deal

Law360, New York (October 22, 2008, 12:00 AM EDT) -- Sen. Chuck Grassley, R-Iowa, is looking into whether JPMorgan Chase & Co. relied on inside information from a U.S. Securities and Exchange Commission official when it acquired Bear Stearns Cos. earlier this year.

Grassley, ranking Republican of the Senate finance committee, wrote in a letter to SEC chairman Christopher Cox dated Tuesday that he had received “anonymous but specific information” indicating that SEC Division of Enforcement Director Linda Thomsen had passed information about government investigations into Bear Stearns to JPMorgan's general counsel before JPMorgan bought the...
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