Wednesday, December 19, 2007

Latest on Bear... stated here previously, lawsuits aplenty from the fallout.

Bear Stearns Sued by Barclays Unit Over Fund Collapse
2007-12-19 17:47 (New York)

By David Glovin and Yalman Onaran
Dec. 19 (Bloomberg) -- Barclays PLC, the U.K.'s third-
biggest bank, sued Bear Stearns Cos. over losses caused by the
implosion earlier this year of a hedge fund that invested in
subprime mortgages.
Barclays Bank PLC, a unit of London-based Barclays, claimed
the New York-based securities firm hid negative financial
information about the collapsed fund, according to a complaint
filed today in Manhattan federal court. Barclays said it was the
``sole participating shareholder.''
The collapse of the Bear Stearns fund was ``one of the most
high-profile and shocking hedge fund failures in the last
decade,'' Barclays said in the complaint, which seeks unspecified

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