Good thing Ron Shapiro isn’t a told-you-so kinda guy.
Not after The New York Times reported recently on how Chinese companies are finding a back door into the U.S. stock market.
Shapiro, a prominent sports agent-attorney whose clients have included Cal Ripken Jr., warned about the same sort of stock market shenanigans 42 years ago, as lead author of a Maryland Law Review article titled, “The ‘Going Public Through the Back Door’ Phenomenon – An Assessment.”
“This isn’t a new issue,” said Ryan Gisriel, a college intern for Shapiro who brought the old article to my attention.
But even Shapiro wasn’t prescient enough to have imagined Chinese companies up to that sort of thing way back in 1969.
Said Gisriel: “He didn’t foresee Chinese companies going public.”Copyright © 2015, The Baltimore Sun