Bear Stearns To Appeal Against Negligence Damages Decision
NEWS
NEW YORK—A US federal jury has directed Bear Stearns to pay $111.5 million to a currency investor over allegations of negligence.
The bank is disputing the direction and will not settle the claim until the result of an appeal.
“We believe the verdict was against the weight of the evidence and we intend to appeal,” says a Bear Stearns spokesperson in New York. “We are confident we will be vindicated upon appeal.”
The Canadian investor claims the bank acted negligently in currency trading losses he
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