Blanket Stay Denied In Ex-Bear Managers' Civil Suit

By Jacqueline Bell

Law360, New York (October 27, 2008, 12:00 AM ET) -- A judge has declined a request made by federal prosecutors to put the U.S. Securities and Exchange Commission's civil suit against two former Bear Stearns Cos. hedge fund managers on hold pending the completion of the criminal case against them.

U.S. Attorney Benton Campbell had moved to intervene in the civil proceeding against former fund managers Ralph Cioffi and Matthew Tannin, arguing that a stay was necessary to prevent the broad discovery allowed in civil cases from compromising the criminal case.

In his order filed Friday,...
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