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Stanford Rocks

Publication Date: 
February 01, 2008
James McRitchie's news blog referenced the Rock Center for Corporate Governance's January 29 event, "Rolling $20 Billion Dice: The JDS Uniphase Trial":

If you missed the live event, you can now find it on Arthur and Toni Rembe Rock Center for Corporate Governance site under Recorded & Past Events. Professor Joseph Grundfest moderated a fascinating discussion with defense counsel and an expert witness, all of whom had some connection with Stanford.

I have to admit that I was skeptical going in, thinking they must have been a bunch of crooks, but the panelists certainly made an excellent case. Just one example of many was a graph they presented of insider stock sales. Based on dollars, it looked like insiders sold off their stock and made a killing right before the bubble burst. However, a graph of the amount of stock sold over time revealed an established pattern similar to others in the industry. Expert witnesses appeared to play a critical role and the defense was able to convincingly argue the plaintiff’s case relied on "junk science." Also fascinating was a discussion of jury instructions and what the judge deemed admissible.