Andrew Murstein, president of Medallion Financial, says he committed no fraud when a promoter paid to write nice things about his struggling company failed to tell readers about their arrangement.
“At most, that was a foot fault,” Murstein’s attorney, Randy Mastro, wrote in a motion this week asking a federal judge to dismiss a Securities and Exchange Commission lawsuit.
A foot fault is a term used in tennis when a server touches the baseline and a point is awarded to the other player. Serena Williams blew her stack at the 2009 U.S. Open semi-final when a foot fault was called. The term has been borrowed by white-collar defendants
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