Sumitomo Corporation v. Major Investment Banks
Analysis Group Managing Principal Richard Starfield assisted our clients, two major investment banks, in a securities case involving a rogue trader employed by the plaintiff. Sumitomo Corporation alleged that the trader inflated profits and conspired with our client to finance the alleged fraud through the use of various swaps and a combination of options and forwards. Analysis Group analyzed transactions involving the derivatives and, working with our academic affiliate Professor Peter Tufano, provided insight into the nature of structured instruments as financing vehicles.
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