Factual error: American law schools graduate students in mid-May. Tom Cruise and his wife drive from Boston, Mass. to Memphis, Tenn. to take the new job pending the bar exam, which is given in late July. So why during that late Spring/early Summer are autumn leaves falling?
Factual error: Near the end of the movie, Agent Terrence asks Mitch why he didn't release the recording to the media. Mitch replies that it would have been against the law. This is actually incorrect. Tennessee, where the movie is based, is a one-party consent state. Which means only one party needs to give consent to a conversation being recorded. That one party is Mitch McDeere.
Factual error: Early in the movie, Mitch is shown walking through a lounge at Harvard Law School. The lounge has multi-colored chairs and couches. It does not exist at Harvard. This lounge is actually the Mark Twain's Lounge in the University Center on the campus of The University of Memphis.
Chosen answer: In the book there were indeed incriminating files stored in the firm's condos in the Cayman Islands. There were two adjoining condos, one for senior partners (where incriminating files were stored) and one for junior partners who weren't yet aware of the firm's organized crime connections.
Mobrien316