S.E.C. Reaches Settlement in Bear Stearns Fraud Case

New York-based White Collar & Regulatory Enforcement Group partner Daniel L. Zelenko speaks to The New York Times "DealBook" about the Securities and Exchange Commission's settlement with two former Bear Sterns hedge fund managers that will avert a second trial over accusations that they had misled investors as the mortgage market was crumbling.

According to Zelenko, "The government clearly had the power to do this, but the more salient question is whether this was the best use of their resources. More than two years after a jury has already acquitted on substantially the same set of facts, it's not clear that it was."