Barclays Sues Bear Stearns Over Hedge Fund Failure

Law360, New York (December 19, 2007, 12:00 AM EST) -- In yet more fallout from the high-profile collapse of two Bear Stearns Cos. hedge funds over the summer, Barclays Bank PLC has sued the Wall Street firm and two top managers for fraud and misrepresentation that allegedly led to the funds' implosion.

Barclays filed suit Wednesday in the U.S. District Court for the Southern District of New York against Bear Stearns, unit Bear Stearns Asset Management Inc. and the unit's senior executives Ralph Cioffi and Matthew Tannin.

Cioffi has reportedly parted ways with Bear Stearns, as...
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