Word: lynching
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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...
...Merrill Lynch has not responded to Harvard's charges about the credit card division purchase, and other alleged improper business dealings with Lomas. But even if those charges prove to be true, Kramer said Merrill Lynch was not obligated to provide Harvard all the information...
...When you read the complaint, you'd think Harvard was a widow, an orphan who'd been led down the garden path by Merrill Lynch," Kramer said. "As long as Harvard has access to the information, Merrill Lynch has no responsibility to provide the information. Who has the duty to call the [Securities Exchange Commission] and get that information...
...Merrill Lynch was "disappointed" with McNaught's decision, but Kramer said he still expects the proceedings will prove Merrill Lynch innocent of wrongdoing...