Law Firm To Investigate Bear Stearns Hedge Funds

Law360, New York (August 10, 2007, 12:00 AM EDT) -- Bear Stearns & Co. Inc. has hired a law firm to help figure out why two of the company's hedge funds imploded earlier this year after they made big bets on risky home mortgages.

The law firm Davis Polk & Wardwell was hired by the audit committee of Bear Stearns' board of directors to figure out exactly how much of the failed funds were tied up in subprime mortgages, Reuters reported Friday, quoting an unnamed source.

Davis Polk partners Robert Fiske and Lawrence Portnoy will head...
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