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3/15/2006
Bear Stearns Reaches Settlement with SEC on Fund Probe
Bear Stearns has agreed to pay $250 million to settle SEC charges that the investment firm assisted its hedge fund clients in illegally trading mutual fund shares. Bear Stearns has been facing accusations of illegal activities on this front since 2003 when New York Attorney General Eliot Spitzer first brought forth accusations that the company swindled investors on behalf of its hedge fun clients.

More here.

-- MDT

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