Apologists for the "Corporate Lawyer in Consumer Advocate's Clothing", Liz Warren, try to downplay yet ANOTHER flaw in her story about how she actually took a paycheck to wage a war on women who sued Dow Chemical."The lawsuit was thrown out ... the implants didn't cause harm" they say.Problem is, when Lizzy rode into town, no one, even big chief lie a lot, knew this. She just knew that Dow would be buttering her bread.http://legalinsurrection.com/2012/10/elizabeth-warrens-impla...In 1999, the Dow Corning banktruptcy was settled, although it took years for litigation over the settlement to resolve.There are multiple problems with Warren’s narrative that she was trying to help the women:First, the notion that Warren was representing anyone other than her client is preposterous. As an attorney, she had a duty of loyalty to Dow Chemical. If she explored possible ways in which Dow Chemical could extricate itself through settlement, her services were on behalf of and for the benefit of Dow Chemical, not the women.Second, Warren did not represent Dow Corning, the entity which eventually set up the trust. Again, there may have been strategizing in the early days about how and whether Dow Chemical, the parent corporation, might have to contribute, but there was no resolution in the early days.Third, during the time Warren was providing legal advice to Dow Chemical, Dow Chemical was fighting liability. As the Dow Corning bankruptcy case wound down, one of the most controversial provisions involved the release of Dow Chemical from liability as part of the Dow Corning reorganization plan which set up the trust. (Analysis here, summary here, Plan here) It also appears that Dow Chemical did not make any payments beyond its equity stake in Dow Corning and its insurance coverage to the trust (I’m still confirming this last point).In short, in the early days of the Dow Corning breast implant litigation Elizabeth Warren was providing legal advice to Dow Chemical, which was denying liability and fighting breast implant claims for many years to come. Warren was not a legal adviser to Dow Corning, the entity which years later set up and funded a trust for implant claimants.Absent specific additional disclosures by Warren, there is no plausible reason to believe that Warren was looking out for the interests of breast implant claimants at the time she was providing legal services to Dow Chemical.
Warren is a buffoon, how anyone can support her is strange indeed.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat