An enlightening mistake
一个给人启发的失误
Defence lawyers reveal more than they meant toin a closely watched legal case;
在一个备受关注的法律官司中,辩方律师所公开的消息比原本打算的更多;
A rare slip-up by lawyers has helped shed somelight on a high-profile legal battle, the details ofwhich some of the largest Wall Street firms havebeen fighting to keep under wraps. The case concerns allegations of illegal naked shortselling, where the rules have been tightened several times over the past seven years.
由律师造成的一个罕见疏漏帮助对一起备受瞩目的法律官司有所了解,华尔街的企业巨头们想方设法让当中一些细节得以保密。该案针对的指控是非法的裸卖空,涉及的法规在过去7年已被一次次收紧。
In 2007 Overstock sued 11 brokers, alleging that they had caused its share price to fall byhelping their clients to naked-short the Utah-based retailer. In a normal short sale, sharesare borrowed with a brokers help before being sold. In the nakedversion, there is no attempt to borrow or locate the stock. This can create fails to deliver,where the trade is not settled when it should be, and messes with the laws of supply anddemand, allowing shorting to take place beyond the natural limits set by the number ofborrowable shares.
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