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Ex-Bear fund managers not guilty of subprime fraud

Former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin were found not guilty of misleading investors who lost $1.6 billion, the first major test of a U.S. effort to obtain convictions tied to the subprime mortgage crisis and subsequent recession. A jury of eight women and four men deliberated less than a day before ...

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