Investor Wants 9th Circ. To Nix $3M Bear Stearns Award

Law360, Los Angeles (October 13, 2011, 8:04 PM EDT) -- The wife of billionaire investor H. Roger Wang asked the Ninth Circuit on Thursday to vacate a $2.7 million arbitration award against Bear Stearns & Cos. Inc. to allow her to pursue litigation in a host of class actions against the defunct investment bank.

Vivine Wang and her husband allege Bear Stearns brokers fraudulently sold them 150,000 shares days before the financial institution's collapse in March 2008. Brokers allegedly duped the Wangs into buying the stock, which was priced at about $30 a share at the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.