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Friday, October 28, 2016 2:02:28 PM
After all, COR's initial move was to sue Calissio. That made sense, but unfortunately Calissio defaulted. COR's victory, if you can call it that, was meaningless, because it didn't mean they got their money back.
We have to wait and see what Judge Strom decides with respect to the clearing firms' motion to dismiss.
Of course, COR could still sue DTCC. DTCC is, in my view, the party that failed to understand who should have received dividends and who should not. But for one reason or another, that appears to be a chance COR doesn't want to take.
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