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Investors in Defunct Weintraub Group Sue: A...

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From Times Staff and Wire Reports

Investors in Defunct Weintraub Group Sue: A group of investors who claim to have lost $75 million invested in the now-defunct Weintraub Entertainment Group filed suit in San Diego federal court against Jerry Weintraub, two of his former executives and Bear, Stearns & Co., which placed the offering in the company. The plaintiffs claim that the defendants “materially misstated WEG’s financial condition.” Weintraub Entertainment Group filed for bankruptcy last September.

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