Libel claims were correctly dismissed against author Michael Lewis, who portrayed a manager of collateralized debt obligations as a symbol of subprime mortgage market corruption and the 2008 financial collapse, a federal appeals court has ruled.
A divided U.S. Court of Appeals for the Second Circuit held Friday that statements that Lewis made about Wing Chau and his company, Harding Advisory, in “The Big Short: Inside the Doomsday Machine” were either opinion, did not concern Chau, or consisted of “substantial truth.”
