U.S. v. Ahuja

Brattle experts consulted for and testified on behalf of the Department of Justice (DOJ) in the criminal case, U.S. v. Ahuja, et al., against hedge fund managers accused of overstating the value of illiquid structured finance securities. We summarized and analyzed contemporaneous data – including relative to various pricing benchmarks – to show that the hedge fund managers selectively relied on a subset of available information about the value of the securities in question in order to over-value them. Brattle testified at trial to present this analysis to the court and the jury. The hedge fund managers were found guilty, and the court cited Brattle’s analysis and testimony as a key component in the determination and sentencing.