Fideres is a leading provider of economics and industry expertise for complex disputes in financial markets across various jurisdictions. We provide consulting and expert witness services in a variety of circumstances, including but not limited to: regulatory investigations, economic evidence for claim filing, damages evaluation, discovery, class certification, and settlement negotiation.
Fideres has a long history acting as consulting and testifying experts for various landmark financial litigation, covering different types of misconducts (fraud, misrepresentation, benchmark and market manipulation), financial markets (equities, interest rates, foreign exchange and commodities) and financial instruments (stocks, bonds, futures, options and other OTC derivatives). Our expert engagements involve different players in the financial market, including:
Commercial and investment banks, broker-dealers, proprietary trading firms
Mutual funds, ETFs, Pension funds, hedge funds
Securities and commodity exchanges
Our partners and team of economists have in depth experience and knowledge in providing expert opinions on various matters related to financial markets. This allows us to effectively implement sophisticated models and large datasets with in-house infrastructure and technology.
Fideres provides direct and unbiased advice firmly grounded in the data and factual evidence available to us. Our opinions are formed based on the results of rigorous economic models that are well researched in academic literature. We communicate our ideas and results in a way that is easy to understand and to the point.
For any Financial Litigation related enquiries please contact Robert Chang at email@example.com
Identify cases of financial benchmark manipulation
Identify instances of market manipulation (spoofing, etc)
Mis-selling of financial products
Breach of fiduciary duty / duty of care
Breach of implied representations
Traders’ chatrooms review to identify misconduct
Review of trading records to identify manipulative transactions
Market practice and market power
Valuation and risk analyses of structured financial derivatives
Financial benchmark design
Expert witness testimony
Plan of allocation and settlement distribution
Since 2012, Fideres has been at the forefront of litigation in financial benchmark litigation matters across multiple jurisdictions. Our work in this area includes: uncovering evidence of manipulation and collusive patterns, quantify damages and producing expert reports for class actions disputes. Among others, our work includes the original investigation that led to the discovery of manipulation of the ISDAfix benchmark and the Gold Fix benchmark. Sample cases include:
J Wisbey & Associates Pty Ltd v UBS AG,  FCA 36
Mancinelli v. Royal Bank of Canada, CV-15-536174-00CP
GSE Bonds Antitrust Litigation, 1:19-cv-01704
Tether and Bitfinex Crypto Asset Litigation, 1:19-cv-09236
Allianz Global Investors GmbH v. Bank Of America Corporation, 1:18-cv-10364-LGS
Bueno v. CBOE Global Markets, Inc., 1:18-cv-02435
Boston Retirement System v. Banco Santander S.A., 1:18-cv-04294
Chahal v. Credit Suisse Group AG, 1:18-cv-02268
Fire & Police Pension Association of Colorado v. Bank of Montreal, 1:18-cv-00342-AT-SN
The Federal Deposit Insurance Corporation v. Barclays Bank Plc & Ors, FL-2017-000002
Dennis v. JPMorgan Chase & Co., 1:16-cv-06496
FrontPoint Asian Event Driven Fund, Ltd. v. Citibank, N.A., 1:16-cv-05263-AKH
Treasury Securities Auction Antitrust Litigation, 1:15-md-02673
Platinum and Palladium Antitrust Litigation, 1:14-cv-09391
London Silver Fixing v. London Silver Fixing, 1:14-mc-02573
Commodity Exchange, Inc., Gold Futures and Options Trading Litigation, 1:14-md-02548-VEC
Alaska Electrical Pension Fund v. Bank Of America Corporation, 1:14-cv-07126-JMF
Libor-Based Financial Instruments Antitrust Litigation, 1:11-md-02262
Fideres’s expertise in derivatives and structured finance has led us to being retained as expert witnesses in some of the highest profile cases such as the Guardian Care Homes case in England (the first case alleging LIBOR manipulation). Our experience also includes expert instructions by claimants harmed by the mis-selling of complex financial products and other types of misrepresentation behavior by large financial institutions. We have acted in an expert witness capacity in multiple jurisdictions including: the United Kingdom, Europe, China, Singapore, the United States. Sample cases include:
Board of Directors of the San Diego Association of Governments, acting as the San Diego County Regional Transportation Commission v. Bank of America Corporation, 1:21-cv-04893
JPMorgan Treasury Futures Spoofing Litigation, 1:20-cv-03515
The Libyan Investment Authority v. Credit Suisse International & Ors, CL-2019-000691
JPMorgan Precious Metals Spoofing Litigation, 1:18-cv-10356
Boutchard v. Gandhi, 1:18-cv-07041
Deutsche Bank (China) v. Bright Food Hong Kong, EWHC 3543 (Comm) CL-2017-000326
Sonterra Capital Master Fund, Ltd. v. Barclays Bank PLC, 1:15-cv-03538
Sonterra Capital Master Fund Ltd. v. Credit Suisse Group AG, 1:15-cv-00871-SHS
Credit Default Swaps Antitrust Litigation, 1:13-md-02476
Graiseley Properties Limited and others v. Barclays Bank PLC, EWHC 3093, 2012 FOLIO 1259
The Sisters of the Charity of Jesus and Mary v. Morgan Stanley, case no. 2010/960 – SP
Fideres has provided financial expert assistance to international regulators in Europe, Australia and South Africa in conducting investigation into market abuse practices of financial institutions. Among others, we have been in the investigations of collusion and manipulation of interest rates and foreign exchange financial benchmarks of systemic importance. Sample cases include:
Fideres has been retained in an expert capacity on disputes related to wrongful conduct within the fund management industry that have resulted in losses to consumers and institutional investors. Our works includes identifying evidence of closet indexing by fund managers in Canada, the US and Europe and breaches of investment policies and guidelines by fund managers. Sample cases include:
Hays v. American Century Capital Portfolios, Inc., 3:21-cv-08625-CRB
Misrepresentation of fund’s liquidity prior to suspension ETF’s funds liquidity, CV-20-00646401-00CP
Iowa Public Employees’ Retirement System v. Bank of America Corporation, 1:17-cv-06221
Annabelle McCorquodale and Robert Cummings v. RBC Global Asset Management Inc., VLC-S-S-193820
Dean Turpin v. TD Asset Management Inc., VLC-S-S-194222
We have used Fideres’s expertise in several commodity market and benchmark manipulation cases. Their knowledge of the financial sector, in particular, has been… valuable to the development and success of the matters we have engaged them on.
Fideres has consistently produced event studies reports within 24-hours of the request. The speed of the turnaround time has been impressive. They have provided useful insights and charts to explain complex concepts involved in securities litigation filings.
I have always found Fideres to be excellent experts. Their work is thoughtful, accurate and displays their valuable real world market experience. They understand the role of an expert in litigation well.
We have worked with Fideres in relation to several interest rate misselling matters. Their consultants provided us with effective guidance on a variety of aspects, ranging from the valuation of financial instruments, to the bank’s conduct in relation to the… pricing of such instruments.
We have worked with Fideres on several complex securities matters. They have assisted with damages modeling and estimation at the client-outreach stage through to claims filing, in mediation and during the settlement process. Fideres has extensive experience in damage quantification across security types and is a very reliable partner to work with.
Over the years I have worked closely with Fideres’s research team to investigate new antitrust matters. Their novel investigative approach has led us to work together on several new potential cartel cases and assess their viability at an early stage.
Fideres combines top class financial knowledge with a creative approach in order to provide innovative insights into LIBOR…. They have thoroughly researched and are leading experts on the technical aspects of LIBOR and are professional, reliable and a pleasure to work with.
I have engaged Fideres on several securities fraud cases. They have provided our firm with prompt and precise event studies, even in non-standard cases that required innovative approaches.
Fideres have provided our firm with input on various aspects of 10b5 claims, including class-wide damages and market efficiency assessments. They are responsive and their reports clear and to the point.
Fideres provided us with innovative quantitative analysis that was critical for building this CDS anti-trust case against major dealers. In addition to… [quantifying] the amount of damages, they clearly briefed me and my team on the technical aspects of the CDS market.