DraftKings Sees Eric Schneiderman's Political Overreach And Raises Him A David Boies

It's like a game of daily corporate lawyer fantasy.
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Daily fantasy sports site DraftKings is pretty apoplectic to find themselves being picked on by New York Attorney General Eric Schneiderman.

How pissed are they? Well they're apparently David Boies-level pissed.

Here's a statement released this morning from a DraftKings spokesperson:

"DraftKings has added David Boies and Jonathan Schiller, who founded the law firm of Boies Schiller & Flexner LLP, a nationally recognized litigation firm, to its legal team. Together, David and Jonathan have represented the NFL in an antitrust dispute brought by the NFL Players Association, as well as the NBA players in a dispute over the negotiation of their collective bargaining agreement. Since founding BSF LLP, they have successfully represented sports franchises, regional sports networks, and major television networks in regulatory and litigation matters.

Mr. Boies, Mr. Schiller and their team look forward to representing DraftKings, and joining their top flight legal team, which will work with the regulatory agencies, including the New York Attorney General, to resolve this dispute. A swift resolution would protect the rights of consumers and allow DraftKings players to continue to play the fantasy sports games so many people love."

Boies is a regular at the Supreme Court, having argued everything from antitrust cases involving the likes of Microsoft (NASD: MSFT) to the constitutionality of gay marriage. He was also Maurice Greenberg's lawyer in his suit against AIG (NYSE: AIG).

Now he will help DraftKings argue that they aren't a gambling website, because zeitgeist.

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David Einhorn Said No To A Capital Raise, Kept The Door Open For A Pub Crawl

Remember how David Einhorn got in trouble in England for insider trading on Punch Taverns stock and he was all "what?" and we were all "what?"? Well, you can judge it for yourself because now the entire disputed call with Punch is available online (at the back of this). So go read it, or read the highlights here. The FSA still thinks it's insider trading, but the count of people confused by the whole thing is rising, and now includes the Merrill banker on the call. There's lots of insider traderiness on this side of the pond today too so we should talk about that in a bit. For now, though, two other things. One is quick - no one can resist one part of the call and I can't either so here it is: DAVID EINHORN: Hi, I’m sorry I didn’t get to see you when you were in New York. PUNCH CEO: No, no, we -- well, we’ve -- we’ve only had the chance to speak once, although we have seen [reference to Greenlight Analyst] a few times since then. DAVID EINHORN: Oh, you’re -- you’re -- you’re getting more than -- than I could help with anyway. So, this is good. PUNCH CEO: Okay. That’s fair enough. Well, one day we’ll get you around on a pub crawl around some English pubs. DAVID EINHORN: Oh, that sounds fun. PUNCH CEO: It is. You’re right. English readers: Is it? I just assumed that Punch Taverns are rather grim places, like TGI Friday's but with more ... punching? ... but maybe I'm totally off base here. Also, here is a hypothesis: vice investments do well because, for the same level of profitability, they get more analyst/investor coverage and enthusiasm. Wouldn't you rather go on a pub crawl instead of like a tour of an auto parts factory in Queens? Would that influence your stock recommendations / money allocations? Someone should do a study.