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A multimillion-dollar merger involving Monsterbook.com is developing into a monster of a problem for Jones Day. On Monday, LA Second District Court of Appeal ruled that former shareholder, Frank Vega, in the now-defunct online directory company had made a viable claim that Jones Day may have committed fraud that cost him $3.45 million in stock. In opposing the suit, Jones Day's lawyers argued that as counsel for an adverse party, they had no duty to disclose the terms of a third-party investment contract.
August 03, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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