Investigating Bear Stearns Hedge Fund and Broker Fraud
Prior to its 2008 sale to JPMorgan Chase, the Bear Stearns Companies, Inc. was one of the world's largest investment banks, securities trading and brokerage firms. Bear Stearns' failure began in 2007 and was precipitated largely by the global subprime mortgage crisis.
The Birmingham law firm of Burke, Harvey & Frankowski represents victims of stock broker misconduct and securities fraud in Alabama, Georgia and Florida. If you lost money in a Bear Sterns hedge fund and you suspect fraud, we invite you to contact us today to discuss your case with an experienced securities attorney.
The Collapse of Bear Stearns
Bear Stearns was badly damaged by the subprime mortgage hedge fund crisis that began in 2007. Despite the intervention of the New York Federal Reserve Bank, the company was sold to JPMorgan Chase in 2008. Many investors and shareholders lost substantial amounts of money in the deal. Two Bear Stearns hedge funds specifically tied to this collapse, the High Grade Structured Credit Strategies Fund and the High Grade Structured Credit Strategies Enhanced Leverage Fund were estimated to be down $1.9 billion dollars.
Securities Investigations and Criminal Charges Filed Against Bear Stearns
Multiple securities arbitration claims have been filed with the Financial Industry Regulatory Authority (FINRA) and other legal action is both current and pending. Two former hedge fund managers have been arrested and face not only criminal charges but civil lawsuits citing misrepresentation to investors, fund mismanagement and other violations of securities law and regulations.
Bear Stearns stands accused of lying to investors about the value of assets in certain funds. They allegedly did this in order to make a profit at the investors' expense. This behavior may constitute fraud. While the federal government and securities regulatory agencies investigate, we believe it is time for the individual investors to have a voice.
Contact Burke, Harvey & Frankowski
If you believe you were a victim of Bear Stearns bond fund fraud, we invite you to call our Birmingham, Alabama, law firm at 205-930-9091. Clients in other parts of Alabama, Georgia or the Florida Panhandle should call our nationwide toll free number at 888-930-9091. You may also contact us by e-mail for prompt attention to your questions about Bear Stearns fraud allegations or to request a detailed case evaluation by an experienced securities lawyer.
