It was clear quickly that Aaron Marks argument before the U.S. Court of Appeals for the Second Circuit last week wasn’t going to go as he’d hoped.
The Kasowitz Benson Torres partner had argued in briefs that Morgan Stanley violated securities laws when its traders shorted the stock of his client’s $1.5 billion investment even as another set of Morgan traders was busy liquidating the investment as part of an agreement with global banking giant BNP Paribas.
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