RaceTrac wins in battle over Bear Stearns losses

摘要

Southeast marketer RaceTrac Petroleum has won a $3.4 million arbitration award after losing money in a Bear Stearns hedge fund. The Atlanta-based chain, which operates through 525 stations, had originally requested compensatory damages of $5 million, according to the Financial Industry Regulatory Authority.rnIn its original claim, RaceTrac accused Bear Stearns of fraud, misrepresentation, breach of contract, aiding and abetting and gross negligence in the handling of the company's account.