Sometimes, during an oral argument, a judge will express such profound common sense that it startles me.

That’s what happened as I listened to a recording of oral arguments at the U.S. Court of Appeals for the Third Circuit in a fraud case against Cahill Gordon & Reindel and BASF Catalysts LLC. Class action plaintiffs accuse Cahill and BASF of destroying evidence that Engelhard Corp. (which BASF bought in 2006) sold talc products containing asbestos and then lied about the existence of that evidence in thousands of personal injury lawsuits for more than two decades.

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