“But he does. He gets on his laptop and manages to buy the amount in a brief dip in the stock. John then calls Mike immediately after and explains Pierre’s request to him. So, we have Mike’s testimony supporting John, but again, John’s his boss. That conversation should be recorded, so we’re looking for that recording. Then, John asks Mike to do some research on the company. That research comes back mixed. Rumors are swirling that the company found some huge mining spot, but it can’t be confirmed. John sends the brief research analysis to Pierre. Pierre is using that document now to say that John suggested the stock to him.”

Colette raised her eyebrows.

“John gets back to the office and sends an email asking Pierre to confirm the trade in writing,” Audrey said. “No response. He calls. Voicemail. We do have that message recording. And that’s in our favor because the stock is still up at that point. Pierre has ten days to send the written confirmation. But the stock goes south eight days later—and then Pierre writes that he didn’t authorize the trade and wants the firm to reimburse him.”

Audrey explained their first argument that Pierre instigated and verbally authorized the trade, per John’s recounting of the facts. Alternatively, they would argue that this trade was authorized because Pierre signed a written authorization allowing John the discretion to trade on Pierre’s behalf. “But we haven’t found that written approval yet. I did find documents indicating that a higher level of review is being applied because it is marked as a discretionary trading account. That leads us to hope a written authorization exists.” Audrey finished describing their additional arguments.

Colette was looking pensive.

Not the best case for making partner, is it?

“Hmmm.” Colette put down her pen. “Did you see that recent verbal authorization case? It was in New Jersey.”

“No, what did it hold?” Audrey asked.

“It torpedoes your first argument. The court held that there is no discretionary authority without prior written approval,” Colette said.

Audrey was shocked. Her automatic searches should have alerted her of any decisions on unauthorized trading.

“I’m surprised you didn’t see it.” Colette looked slyly at Audrey.

“We aren’t aware of that one,” Hunter said, and Audrey appreciated that Hunter said “we.” “How recent is it?”

“In the past two weeks.” Colette handed a document to Hunter. Audrey noted that she’d only brought one copy.

I missed a case within the last two weeks. She rubbed her suddenly sweaty hands on her skirt under the table.

Hunter read the case. “Not good,” he said, frowning.

She hoped he wasn’t saying “not good” about her research. She was known for her research skills—for finding that winning case. Colette was looking very self-satisfied.