RI SC - Will Wall Street types outnumber lawyers at lead-paint appeal
Sure, there are the myriad legal complexities in the Rhode Island lead paint public nuisance litigation appeal to the Rhode Island Supreme Court May 15th. Legal publications such as Lexis Nexis are sending their reporters and editors. But, the Wall Street types might outnumber the legal ones at the hearing.
Minutes, even seconds, matter so much in going long or short on a stock. That's why both large and smaller financial firms planted their representatives during the RI lead paint II's closing arguments and eight days of jury deliberations. One major brokerage house had a tag team rotating.
And it's from the dialogue between the Justices and the lawyers, defense and plaintiff, at the RI SC oral arguments that the financial experts could pick up what they are determined they need to know. Reading the briefs would never be enough. From the Ohio SC oral arguments on "117," it seemed obvious to me that "117" supporters were receiving detailed and complex questions and clarifications from the Justices. The opponents, represented by OH Attorney General Marc Dann, seemed to get less interest. The court ruled in favor of "117."
Perhaps because I'm essentially a business person, I view the orals as primarily a Wall Street event. It will be fascinating to observe the movement of the defendants' stocks during and after the Justices and attorneys go back and forth. The hearing is supposed to last all morning. I have a hunch it will spill over to the afternoon. The high court has nothing else scheduled that day.
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