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More Investors Take Aim At Bear Stearns

Law360 (December 5, 2007, 12:00 AM EST) -- Just weeks after the state of Massachusetts filed a securities suit against Bear Stearns, the investment bank has once again come under fire for its role in heading up two hedge funds that collapsed due to subprime mortgage investments.

Four law firms, acting on behalf of 11 investors, said they filed a complaint seeking arbitration against Bear Stearns on Wednesday in the Financial Industry Regulatory Authority.

The complaint alleged that the investors lost a total of $62 million because the investment bank kept selling shares of...
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