Tort Reform Advocate Who Made Stock Bet on Wal-Mart Sees Loss Despite Being Right

Tort Reform Advocate Who Made Stock Bet on Wal-Mart Sees Loss Despite Being Right

Tort-reform advocate Ted Frank was right when he predicted the U.S. Supreme Court would rule for Wal-Mart, but a stock bet he made turned out to be wrong. Frank was so confident that the Supreme Court would rule against workers seeking class-action status in a huge lawsuit against Wal-Mart that he put 10 percent of his net worth on the line. He invested the money in call contracts that bet Wal-Mart stock would bounce after the Supreme Court issued his decision. Since then the Greek debt crisis has sent stocks lower, the Wall Street Journal Law Blog reports. To make…

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