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Criminal Securities Fraud Case
The Situation
In a recent, high-profile criminal case, NERA assisted a U.S. Attorney's office in prosecuting securities fraud and other charges.
NERA's Role
NERA analyzed the materiality of statements made by one of the defendants. NERA experts carefully reviewed stock price movements surrounding each of the defendant's misstatements, as well as the impact on the stock price of news revealing the alleged securities fraud. NERA provided background on the financial expert designated by the defense, and prepared cross-examination material. NERA also assisted the prosecution with analysis and exhibits used at trial to prosecute on the other charges.
The Result
After NERA Senior Vice President Dr. Vinita Juneja was identified as a potential rebuttal witness, the defense elected not to call its financial expert. The securities fraud charge was later dismissed. The defendant in question was found guilty on the other charges.