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Tuesday, July 19, 2005

Nothing But Furniture and Silverware

According to Sean Coffey of Bernstein Litowitz, lead counsel in the securities class action against WorldCom, the recent settlement with Bernie Ebbers  (discussed here) will only leave the Ebbers family "with their furniture and the silverware."

That doesn't quite meet the standard laid down by former SEC Chairman Richard Breeden, who  once famously stated that he wanted to leave people who engaged in insider trading "naked, homeless and without wheels," but it is in the ballpark.

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