A class action case in the US against fallen investment bank Bear Stearns and its auditor, Deloitte & Touche, has been given the green light by a judge. nvestors, led by the Michigan Retirement System, accuse former Bear Stearns bosses of painting a wildly misleading picture of the firm's finances ahead of its collapse in March 2008. A spokesman for Deloitte said the firm 'intends to defend this case vigorously'.

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