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Bear Stearns(BSC Quote) Chairman James Cayne and his wife on Tuesday sold more than $60 million in stock in the collapsed brokerage, in the wake of its sale to JPMorgan Chase(JPM Quote).
Cayne, who stepped down as CEO of Bear in January after the firm suffered billions in writedowns tied to soured mortgages, sold 5.6 million shares of stock at $10.84 apiece, according to a Thursday filing with the Securities and Exchange Commission. An additional 45,669 shares held by his spouse were sold for the same price on the same day.
Bear's stock closed as high as $92.89 on Feb. 1 and sported a 52-week high of $159.36. ...
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