Assisting the US Attorney’s Office in a Criminal Securities Fraud Trial

The Situation

The US Attorney’s Office for the Eastern District of New York indicted the CEO and the former CFO of a publicly traded company on a number of criminal charges, including securities fraud, insider trading, obstruction of justice, and tax evasion. At trial, the defendants’ economic expert testified that the alleged criminal conduct did not materially impact the stock price.

NERA's Role

Dr. Jordan Milev assisted the US Attorney’s Office in cross-examining the defendants’ economic expert, and he also provided economic analysis supporting the US Attorney’s Office’s position.

The Result

Following a nine-month long trial and economic expert testimony spanning multiple days, both defendants were found guilty by a jury.