Bear Stearns Absolved Of Liability In Baron Fraud Suit

Law360, New York (September 24, 2008, 12:00 AM EDT) -- A federal judge has dismissed charges against Bear Stearns Cos. Inc. in a securities suit accusing the collapsed company of complicity in a scheme by defunct broker-dealer A.R. Baron & Co. that bilked customers out of millions of dollars

Judge Paul A. Crotty dismissed the claims against Bear Stearns Monday in the U.S. District Court for the Southern District of New York, ruling that Bear Stearns, as Baron's clearing broker, wasn't liable for its fraudulent sales.

The Securities and Exchange Commission doesn't require the clearing broker...
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