A Claro expert was retained by Boies Schiller & Flexner LLP on behalf of Barclays Bank in defense of a $13 billion claim brought by the Lehman Brothers Estates and other parties in conjunction with an approximately $50 billion acquisition of Lehman’s North American broker dealer business.  

Claro and our academic affiliate provided litigation consulting advisory services, trial support, and expert testimony on a range of issues, including: market events that led to the 2008 financial crisis; analysis of an alleged secret discount and windfall profit embedded in the acquisition; and assessment of a $5 billion valuation claim involving the fair value of 12,000 mostly illiquid and hard to value positions acquired by Barclays, including auction rate securities, mortgage backed securities, collateralized debt and loan obligations, and other securitized assets.  Of the $5 billion valuation damages sought by the plaintiffs, the judge awarded no damages against Barclays and in so doing specifically cited the clear and convincing testimony of the Claro expert.