'Racial motivation': Specter sues Nasdaq for China client

Ex-US Sen. Arlen Specter, R-PA/D-PA, has hung out his legal shingle again and is now a private practice attorney.

Among his clients: CleanTech Innovations, a China-based wind energy company that sued the Nasdaq stock market after it was delisted from trading last year, Inquirer columnist Erin Arvedlund tells me.

CleanTech sued Nasdaq in federal court in New York last winter, alleging the stock market showed a "racial motivation" and discriminated against CleanTech and other Chinese companies when it delisted them. Nasdaq, like other stock markets, removes listed companies for failing to comply with price and governance rules. 

CleanTech hired New York law firm Fensterstock & Partners, along with Specter, to press its case. How’s that working out? In March, Fensterstock sued CleanTech – its own client – seeking over $400,000 in unpaid fees.  

Did Specter, at least, get paid? His office wouldn't tell Arvedlund.

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