Fort Wayne, IN
reply to Goober
Re: When did Karl first explain this?
said by Goober:I don't buy it either. This wasn't Ma and Pa Kettle going into town and getting swindled by a slick car salesman. Not saying that all attorneys are brilliant, but I think FP would have had to hire a ambulance chaser in order for FP to be able to claim they got suckered.
And I don't go for the fact that the sophisticated NY attorneys threw the wool over FP's attorneys. That about as stupid a comment as I've read regarding this as well. Inside counsel rarely does these deals. Mostly it's handled by outside firms that do M&A as their bread and butter.
It simply sounds like either bad due diligence (which I doubt) or someone higher up wanted the deal bad enough.