The Owl, whose first appearance this is, is being investigated for financial fraud and enlists the help of Nelson & Murdock to defend him. Against Foggy's wishes, Matt decides to take on the case, so as to learn more about the Owl.
Although Matt has a brief meeting with the Owl, he senses that the criminal has no intention of turning up for trial. Changing into Daredevil later that day, he tries to track the Owl down, unaware that the criminal has his own base (his Aerie) offshore.
Karen Page is kidnapped by the Owl and Daredevil tracks her down and rescues her. When Daredevil and the Owl battle, the criminal manages to trick Daredevil onto a staircase that he turns into a chute that sends him into surrounding waters. However when the Owl attempts to escape on a boat, Daredevil jams its propellor with its cane, causing the Owl to fall into the water, his fate uncertain.