Word: haye
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...company claims in the brief that it lost "the profits and value of The First Russian Specialized Depository [a company created in the dealings] and the financial benefit [Forum] would have received from an increase in their international business" as a result of Shleifer and Hay's alleged wrongdoing...
...Hay's lawyer contested these claims...
...Hay acted completely appropriately in connection with Forum Financial," said David M. Zornow of the New York law firm Skadden, Arps, Slate, Meagher and Flom. "Everything he did was known to and approved by Russian government officials whom he was advising. It was those officials who decided what action should be taken with Forum Financial. The lawsuit is frivolous...
...suit also argues that Harvard was negligent in the matter because it "owed a duty to the plaintiffs to supervise, oversee, and manage Shleifer's and Hay's operation of its Russia Program, including the Specialized Depository Project, with reasonable care" and "breached its duty of care...
Neither Taylor nor Forum's lawyers would comment on Hay and Shleifer's liability. Taylor said Harvard has not decided whether it will file a motion to dismiss the suit...