A Year After Losing Its Lawyer, Intrade Halts Its Business

, The Am Law Daily


Intrade, the once popular online trading exchange that was forced to shutter its U.S. unit last November, ceased operations this week amid an investigation into its business practices. The latest development comes a little more than a year after former Winston & Strawn partner Michael Philipp, who had been representing Intrade in the U.S. and is now a partner at Morgan, Lewis & Bockius in Chicago, dropped the company as a client, according to a complaint filed against the Dublin-based company by the CFTC.

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