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I think people here should understand what the law and precedent is. He knew he had it, sold it (twice?), knew it was wrong, and still, to this day, has not tol
by infraredraiders 2y ago
I think people here should understand what the law and precedent is. He knew he had it, sold it (twice?), knew it was wrong, and still, to this day, has not told the parties.
https://www.usnews.com/news/top-news/articles/2024-07-02/us-judges-financial-conflict-leads-to-revived-lawsuit-against-big-banks https://www.usnews.com/news/top-news/articles/2024-07-02/us-...
The 2nd U.S. Circuit Court of Appeals in Manhattan said that while U.S. District Judge Lewis Liman "almost certainly unknowingly" had a conflict of interest, his partiality could reasonably be questioned because his wife's ownership of Bank of America stock created an "appearance of impropriety."
A spokesman for the Manhattan federal court, where Liman works, declined to comment.
Tuesday's unsigned decision came nearly three years after a Wall Street Journal investigation found that more than 130 federal judges had since 2010 violated federal law and judicial ethics by overseeing cases involving companies in which they or family members owned stock.
Bond investors accused Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, NatWest and Wells Fargo of overcharging them since 2006 on "odd-lot" trades, which are worth less than $1 million and comprise most corporate bond trades.
Liman, an appointee of former President Donald Trump, was assigned the lawsuit in April 2020 and dismissed it with prejudice in October 2021, three months after his wife sold $15,000 of Bank of America stock.