Word: lynch
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Dates: during 1990-1999
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...hearing earlier this month, Renehan said that Merrill Lynch had salvaged Lomas from collapse early in 1989--before Harvard made its investment--with an "eleventh hour purchase" of Lomas stock to protect the company from seizure by banks...
...Merrill Lynch made no mention of "its clandestine role in propping [Lomas] up, or of the big deal... in the works" when it sent private placement information to Harvard, according to Renehan...
Furthermore, Merrill Lynch continued doing business with Lomas after it sold Harvard the stock, eventually acquiring the company's valuable credit card division shortly before Lomas declared bankruptcy in September. Again, Renehan said, Merrill Lynch did not inform Harvard...
From the beginning, Merrill Lynch has countered such arguments by using Harvard's prominence on Wall Street as proof that the University is no novice investor. Merrill Lynch lawyer Kenneth M. Kramer argued that Harvard knew well the risks of buying the Lomas stock...
...when the investigation ball was in Harvard's court, Harvard hit the showers," Kramer said. "And it cannot blame Merrill Lynch...