Bear Stearns Pushes To Kill Fraud Action In 2nd Circ.

Law360, New York (December 12, 2011, 8:47 PM EST) -- Attorneys for Bear Stearns & Co. on Monday asked the Second Circuit to overturn class certification in a class action alleging the defunct investment bank participated in a market manipulation scheme, arguing it had provided only limited, automated services to the real villains.

A group of investors claim the bank, now a part of JPMorgan Chase & Co., should be held accountable for allegedly failing to disclose a fraud run by Sterling Foster & Co., a small brokerage that used Bear Stearns to clear its trades....
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