Prof. Vaaler Quoted in Pioneer Press on Mike McFadden's Work as Investment Banker

Professor Paul Vaaler was quoted in the Pioneer Press on the investment banking work of the Minnesota GOP candidate for U.S. Senate, Mike McFadden. The campaign of his opponent, DFL incumbent Senator Al Franken, has accused McFadden and his investment banking firm of contributing to mergers, acquisitions and other corporate transactions that led to thousands of job cuts and millions of dollars in lost tax revenues. McFadden's campaign has responded that the accusations are false and that McFadden's role as an investment banker was largely limited to matchmaking prospective acquiring and target firms, and providing advisory services on other corporate transactions such as debt restructuring. Vaaler's comments addressed the fiduciary role investment bankers play on behalf of clients in different corporate transactions, and the advisory role McFadden played during and after the 2008 sale of Wisconsin-based shoemaker, Allen Edmonds.