Although neither of us could attend, we’ve now received a first report about the Colacicco/McNellis argument in the Third Circuit this morning.

The parties argued before a packed house; the argument ran for over two hours; at the conclusion, the panel ordered the preparation of a transcript, so investors would have access to the proceedings.

By late afternoon today, we hope to post a report from someone who attended the argument, and we’ll link to the transcript as soon as we see it.

More to come.