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Hedge Fund Investors Seek Money Bear Does Not Have

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Remember that pair of hedge funds Bear had a movie reviewer running which, in retrospect, wasn’t the best idea and might’ve contributed to their collapse? Bunch of the people who lost their money when the two ridiculously named funds went under are still upset about the situation. Geoffrey Varga and William Cleghorn, the court appointed liquidators representing the parties that got fucked, argue that Bear shouldn’t have told investors everything was “shipshape” when in reality the funds could not survive “even a slight downtick” in the mortgage market. They want $1 billion plus punitive damages. The empty shell of Bear Stearns has offered free coffee FOR LIFE in settlement talks.
Bear, Auditor Sued Over Mortgage Funds’ Collapse [FINalternatives]

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