Yesterday, PwC asked the judge in its court battle with MF Global to prohibit the use of a “new theory of causation” or to declare a mistrial.
PwC filed the motion at midnight on Monday, so you can’t blame the plaintiffs if they felt caught off guard. Dan Fetterman, the lead attorney for the plaintiffs called it “a desperate motion you make when you’re losing.”
Today, the plaintiffs filed their response to the motion and it carries a very “Why didn’t you speak up, bro?” attitude.
From the introduction:
I’m no lawyer, but while I was reading PwC’s motion yesterday, it did occur to me that their timing seemed a little odd. Why didn’t they bark objections when MF Global lawyers were talking about the “new theory”?
MF Global’s attorneys believe it’s because PwC doesn’t like how things are going:
The response goes on (seemingly exasperated) to spell out the details; the whole thing is linked below. At times, it’s a pretty entertaining read.
In the Reuters report from yesterday, Judge Victor Marrero called this “a complicated subject” which suggests that maybe it’s not as simple as MF Global makes it out to be. Stay tuned.