00:00Chris, I guess just what are the details of the story? I mean, when it came out, when you were
00:03reporting on this earlier this week, I feel like it was it was read nonstop. There's so much
00:08intrigue here. Yes. I mean, it's a very big ring. It has a lot of tentacles to it. It's, you
00:16know,
00:16the top is some of lawyers at some of the biggest, you know, M&A law firms in the country,
00:24Sidley Austin, Latham Watkins, Goodwin Proctor, among a number of them,
00:28allegedly taking confidential information on deals. Some of the deals they didn't even work
00:35on kind of viewing the information in the document management system in a rogue way and distributing
00:43it to former college, you know, classmates, associates who passed it on to a bunch of other
00:52people, hairdressers, physicians. Lots of different people were trading on this information.
01:01It likely a whole lot of whom didn't even know really where it was coming from.
01:06Chris, I mean, have the law for only about a minute here, but have these law firms taken a look
01:11inward?
01:11Because presumably there's a lot of systems in place to prevent this kind of thing.
01:16Yeah, we don't, you know, know exactly what they're doing now. One assumes that they're
01:20communicating with clients and the partners. I expect that'll happen over the next couple of
01:25weeks as it susses out. But they have all decried the behavior, said that, you know, they've been
01:34cooperating with the prosecutors and that they're going to, you know, that they let go of these
01:40people as soon as that there was a indication that they had, you know, taken this information.
01:47Right.
Comments