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Bear May Face SEC Action In Derivatives Probe

Law360 (April 15, 2008, 12:00 AM EDT) -- Awaiting formal approval of its pending takeover by JP Morgan Chase & Co., the once high-flying investment bank Bear Stearns Cos. signaled Monday that it still faces intense scrutiny from federal investigators.

In a regulatory filing, Bear said it had received a Wells Notice in February from the U.S. Securities and Exchange Commission, indicating that the agency may pursue a case against the company in connection with a long-running investigation into bidding practices in the municipal derivatives industry.

The antitrust division of the U.S. Department of...
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