Bear Stearns Insurance Decision Remanded

Law360, New York (December 4, 2006, 12:00 AM EST) -- A district court must reconsider a decision that blocked investment bank Bear Stearns Inc. from collecting $25 million from its insurers to cover some of the costs of an $80 million settlement.

Bear Stearns had asked the court for permission to collect the funds from insurers in order to defray the costs of the 2003 settlement of the global research case that ensnared several Wall Street firms.

Bear Stearns and 10 others paid a total of $1.4 billion to settle allegations that their research analysts had...
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