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Tuesday, April 29, 2014

Bill Singer Reflects on Stone v. Bear Stearns

Former Forbes columnist and veteran securities practitioner and pundit Bill Singer summarized his view of the pending dispute in Stone v. Bear Stearns, et al. as follows:

"Many commercial and residential premises are required to maintain smoke detectors as a first-line of defense; however, you pull the fire alarm after the smoke detector goes off.  Seems to me that the EDPA and [Third] Circuit failed to take into account that to some extent Marston's relatively limited disclosure and FINRA's fumbling disconnected Stone's smoke detector. To now blame him for not having pulled the fire alarm sooner seems unfair and unreasonable."

Read the full Broker and Broker post here.