Shares of troubled bank Fremont General Corp. rose more than 40% last week amid a flurry of news that took a number of market participants by surprise and roiled those with a short interest in the business. Fremont announced iStar Financial planned to buy its commercial real estate unit for $1.9 billion;

a Gerald Ford-led investor group would take a minority interest in the company; and former Fremont Chief Executive Louis Rampino would relinquish his position to Carl Webb, among other senior management moves.

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