After nearly half a decade as a poster child for Wall Street greed and incompetence, investment adviser Wing Chau won a measure of sympathy from a judge on Friday. But for Chau and his lawyers at MoloLamken, the news is too little, too late.
In a stinging dissent from his colleagues, Judge Ralph Winter of the U.S. Court of Appeals for the Second Circuit found that Chau was subjected to a string of falsehoods in Michael Lewis’ 2010 bestseller, “The Big Short,” which examines the lead-up to the 2008 economic crisis and depicts Chau saddling investors with toxic securities. Many of Lewis’ statements concerning Chau, Winter wrote, “clearly conveyed a … defamatory meaning that was adopted by the book’s readership.”
