Investors in Defunct Weintraub Group Sue: A...
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.
