CEO James Cayne has been the chief executive officer of The Bear Stearns Cos since 2001. He is 71 years old. Follow Mr. Cayne and The Bear Stearns Cos in the news and blogs or share your own opinion about the company and its leadership.
NEW YORK (Reuters) - The government's allegations of fraud against two former Bear Stearns hedge fund managers were built on "hindsight bias," including emails selected out of context, a defense lawyer told a jury in closing arguments on Friday at their trial in New York. Ralph Cioffi, 53 and Matthew Tannin, 48, have denied charges of securities fraud, wire fraud and conspiracy in a June 2008 indictment that made them the first high-profile Wall Streeters to be criminally charged in a case... Read Full Story
NEW YORK (Reuters) - Two former Bear Stearns hedge fund managers were found not guilty of fraud, a decision that could make government prosecutors less likely to bring criminal charges against Wall Street executives for their role in the financial crisis. The case -- the first major prosecution arising from the meltdown of major U.S. financial institutions -- was seen as a litmus test of whether a jury, presented with evidence from emails between money managers and conference calls with... Read Full Story
Two former Bear Stearns hedge fund managers were acquitted Tuesday in New York of defrauding investors, in a setback for government attempts to punish Wall Street for the 2008 financial meltdown. Ralph Cioffi and Mathew Tannin faced 20 years in prison if found guilty of lying to clients ahead of their hedge funds' collapse in June 2007. However, a jury in Brooklyn federal court cleared the two men who said they were working for sophisticated clients and became victims of financial turmoil... Read Full Story
Two former Bear Stearns hedge fund managers were acquitted Tuesday in New York of defrauding investors, in a setback for government attempts to punish Wall Street for the 2008 financial meltdown. Ralph Cioffi and Mathew Tannin faced 20 years in prison if found guilty of lying to clients ahead of their hedge funds' collapse in June 2007. However, a jury in Brooklyn federal court cleared the two men who said they were working for sophisticated clients and became victims of financial turmoil... Read Full Story
NEW YORK (Reuters) - Former Bear Stearns hedge fund manager Matthew Tannin won a round during his trial in New York on fraud charges on Monday when a judge ruled the jury cannot see a personal email in which he wrote about his fears of a "blow up risk" for investors. Emails written by Tannin and his former boss at Bear Stearns Asset Management, Ralph Cioffi, are central to the prosecution's case against the two men -- the first high- profile Wall Streeters to be criminally charged stemming... Read Full Story
NEW YORK (Reuters) - Former Bear Stearns hedge fund manager Matthew Tannin won a round during his trial in New York on fraud charges on Monday when a judge ruled the jury cannot see a personal email in which he wrote about his fears of a "blow up risk" for investors. Emails written by Tannin and his former boss at Bear Stearns Asset Management, Ralph Cioffi, are central to the prosecution's case against the two men -- the first high- profile Wall Streeters to be criminally charged stemming... Read Full Story
Two former Bear Stearns hedge fund managers were acquitted Tuesday in New York of defrauding investors, in a setback for government attempts to punish Wall Street for the 2008 financial meltdown. Ralph Cioffi and Mathew Tannin faced 20 years in prison if found guilty of lying to clients ahead of their hedge funds' collapse in June 2007. However, a jury in Brooklyn federal court cleared the two men who said they were working for sophisticated clients and became victims of financial turmoil... Read Full Story
Altria Group Inc. said Wednesday that cost-cutting and improved results from its cigar unit led its third-quarter profit to rise 2 percent, even though it sold fewer cigarettes. The Richmond-based seller of Marlboro cigarettes, Black & Mild cigars and Copenhagen and Skoal smokeless tobacco products earned $882 million, or 42 cents per share, compared with $867 million, or 42 cents per share, a year ago. Excluding costs related to its UST LLC acquisition and other items, profit was 48 cents... Read Full Story
Lockheed Martin Corp. said Tuesday that its third-quarter earnings rose amid a flurry of sales of military aircraft, including the C-130J transport plane and Joint Strike Fighter, and one commercial satellite delivery. But the nation's largest defense contractor warned that trend may not last as sales of fighter jets dwindle and pension costs rise next year. The Bethesda, Md., company, issued weak 2010 earnings guidance, as had been predicted by Wall Street in recent weeks. Lockheed, the... Read Full Story
Hasbro Inc, the nation's second biggest toymaker, said Monday its profit rose 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys. Hasbro said its earnings rose to $150.4 million, or 99 cents per share, for the three months ended Sept. 27, up from $138.2 million, or 89 cents a share, a year ago. The latest results top the average analyst estimate of 93 cents a share, as measured by a survey by Thomson Reuters. The Pawtucket, R.I... Read Full Story
