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On the PointofLaw featured discussion on "selling short," I've posted my response to Moin Yahya on plaintiffs and lawyers speculating on lawsuits. The bottom line is that, even if one agrees we have too much litigation, overbroad rules against this practice are misguided.
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The "selling short" debate was interesting. The articles made me wonder if plaintiffs' lawyers might already be liable under 10b-5 for short-selling stock before suing under a misappropriation theory. They are under a duty of confidentiality to their clients.
Posted by: Rob Scheef | February 28, 2006 at 03:00 PM
Good point. I have assumed the lawyer traded with consent, and Moin explicitly assumed only trading without theft.
Posted by: Larry Ribstein | February 28, 2006 at 03:03 PM