Granite Funds, L.P. v. Donaldson, Lufkin and Jenrette
Granite Funds, L.P. and two other investment funds claimed in bankruptcy proceedings that they were subject to improper margin calls. A Litigation Advisory Board (LAB) created in the bankruptcy proceeding sued Donaldson, Lufkin & Jenrette Securities Corporation and several other financial services firms, alleging that the defendant broker-dealers made improper margin calls on the Funds and conducted bad faith and commercially unreasonable liquidations of the Funds' securities.
Working with Friedman Kaplan Seiler & Adelman, and Berlack, Israels & Liberman, counsel for the LAB, Analysis Group developed analytical models to compute the fair market values of the Funds' portfolios on the margin call and liquidation dates. The Analysis Group case team was led by President and CEO Martha Samuelson and included Managing Principals Nicholas Crew and Gaurav Jetley, among others. Our team worked closely with academic affiliate Professor Burton Malkiel of Princeton University, a renowned expert in the field of financial economics.