Grubman May Face School Friend In Court

The Times reports that Jack Grubman and Jake Zamansky were school friends in 1971 before they went off to separate universities. It now looks likely that they will soon meet again - this time in court. Zamansky is now a top Wall Street securities fraud lawyer and Grubman is, well, Grubman is Grubman.

Zamansky has claimed the credit for Grubman's demise at Salomon. He is widely seen as the man who brought down Merrill Lynch's Henry Blodgett. Zamansky runs a small firm with just five employees and is open for business at a time when investors are lining up to sue Grubman and his former firm Salomon Smith Barney. A court fight with Grubman now looks almost inevitable.

Zamansky has said: 'I represent victims.' There are certainly no shortage of alleged victims who feel that they have a case against against Grubman. He also seems to relish the opportunity to get one over one his old school friend. Zamansky has said that 'I told my mother I would never trade places with this guy. The satisfaction I get out of exposing this stuff, you couldn't pay enough to replace that'.

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