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Howard Caplan speaking, Showing that Centerbridge had information for insiding trading. He says they did not get any up date for March 12th. Arulias says they waited three months and then consulted two lawyers before trading.
He says that is what they are looking for is emails that show this information.
He is saying that settlement communication is not privilaged. Showing an email from centerbridge saying they should go over the term sheet.
Talking about Centerbridge still not handing over requested info. Using legal arguments to withhold. They claim settlement talks are privileged. Not sure who is saying this. Might be TPS... Anyway, this could be interesting as to what JW says. He said this two firms were trading and all this is at issue on this case.
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