Bear Stearns Continues Appeal Against $164m Damages To FX Client

PEOPLE NEWS

NEW YORK--US investment bank Bear Stearns says it will continue to appeal against a $164 million damages award to a former FX client, following a failed appeal at a US district court last week.

Currency speculator Henryk De Kwiatkowski was originally awarded $111.5 million in damages in May 2000 by a US district jury following his claim that Bear Stearns had not provided him with adequate FX trading advice. The amount was raised one month later to include $52.3 million in interest payments.