Banking Law, Federal Judges, Quote of the Day, S.D.N.Y., Wall Street Journal

The Gossip Rag For The Plaintiffs' Bar?

The Wall Street Journal is apparently the People Magazine of the New York plaintiffs' bar.

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[The article] lays it out. It gives motive, it gives you methodology, it reflects experts who think it’s valid. This is not the only piece. This article takes the same kind of approach that you have taken in this case.

I mean, frankly, I am totally puzzled, given that plaintiffs’ bar in this area uses the Wall Street Journal as their source of clients and cases, right? You guys read it every day, looking for scandal, right? Other people read People Magazine, but you read the Wall Street Journal.

— Judge Naomi Reice Buchwald (S.D.N.Y.), discussing inquiry notice of plaintiff’s claims with David Kovel of Kirby McInerney, counsel for plaintiffs in the Libor lawsuits, during Tuesday’s hearing.

(The article Judge Buchwald mentions ran in the Wall Street Journal in 2008 and raised serious questions about Libor’s integrity.)

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