Bear Stearns Asset Management is facing a lawsuit from William Galvin, Massachusetts secretary of state, reports The Boston Globe. The lawsuit accuses BSAM of improper trading with its two collapsed hedge funds. Bear’s High-Grade Structured Credit Strategies Fund and the High-Grade Structured Credit Strategies Enhanced Leveraged Fund went bankrupt earlier this year following losses on mortgage-backed securities and collateralized debt obligations.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||8,059||25||11.72|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||77,768.99||216||9.58%|
|4||Wells Fargo Securities||67,736.13||189||8.34%|