Category Archives: law

Rogue Brokers: Finra Asleep at the Wheel

Megan Barnett has the interesting tale of Karen McKinley, a rogue Merrill Lynch broker in Florida. McKinley had a habit of working to maximize her own commissions rather than investing her clients’ funds in suitable investments; indeed, even after one … Continue reading

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Goldman Simpson?

In the world of M&A, you need a financial adviser (an investment bank) and you need a legal adviser (a law firm). Legal advisers make lots of money. Financial advisors make much, much more – despite the fact that senior … Continue reading

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Adventures in Lawyering, MAC Edition

Will Christopher Flowers succeed in his attempt to change his mind about buying Sallie Mae? Or will he have to pay the $900 million breakup fee? Many lawyers have weighed in on this subject, most of them on Sallie’s side, … Continue reading

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Abstract of the Day

From Case Western’s Erik Jensen: Abstract: Law professors dress scruffily, and we need to do something about that. The paper itself is surprisingly long, with far too many atrocious puns ("as you rip, so shall you sew"). But in case … Continue reading

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Scotus: Good News on Stoneridge

Stoneridge v Scientific-Atlanta is one of those battles where both sides really deserve to lose. But I am very glad that it’s the plaintiffs who are actually losing this one. For all the lobbying surrounding the case, the central fact … Continue reading

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Morgan Stanley’s Email Problem

Morgan Stanley has been fined $12.5 million for not providing emails. The Wall Street journal also notes that the company was also fined $15 million in 2005 for not providing emails. It doesn’t note that Morgan Stanley was ordered to … Continue reading

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Bear Liquidation May Create New Woes for Hedge Funds

Yves Smith at Naked Capitalism submits: Bloomberg tells us a judge is questioning the legal domicile of the failed Bear funds for bankruptcy purposes: A federal judge refused to grant permanent protection from U.S. lawsuits for Bear Stearns Cos.’ two … Continue reading

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Lawyers of the World Unite! You Have Nothing to Save but Your Jobs!

Yves Smith of Naked Capitalism submits: A Bloomberg story reports that large corporate law firms such as Kirkland & Ellis and Jones Day are facing not merely pressure, but explicit client demands, to send junior level work overseas. This is … Continue reading

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Why There Aren’t Anti-Collusion Lawsuits in the CDO Mess

A lawyer wants to know whether there might be an antitrust or collusion case
to be brought against Wall Street banks in the wake of the CDO mess.
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