Ex-Bear Hedge Fund Managers Acquitted

11-11-2009 | Source: Total Securitization

A federal jury in Brooklyn, N.Y., has acquitted two former Bear Stearns hedge fund managers of concealing the funds’ exposure to subprime mortgages, among other things. Ralph Cioffi and Matthew Tannin were cleared of all charges of securities fraud, wire fraud and conspiracy, Reuters reports. The verdict may have implications for government investigations of other companies’ possible wrongdoing in connection with the current financial crisis.

Click here to read the story from Reuters.