Plaintiffs’ counsel Quinn Emanuel Urquhart & Sullivan retained Fideres to consult on class certification and develop a plan of allocation in this financial market manipulation case.
Plaintiffs alleged that dealer banks contributing to the ISDAfix benchmark colluded to manipulate the level of the official fixing and/or manipulated the market through front-running in order to benefit from their proprietary positions.
Fideres provided consulting expert work including building of the damages model used for class certification as well as creation of the settlement allocation plan after a $500m settlement agreement was reached.
Robert Chang, Head of Fideres’s Securities Litigation practice, is a financial market expert with extensive and broad-ranging experience in the areas of securities, commodities, derivatives and structured finance.
Since joining Fideres in 2014, Robert has been instrumental in helping institutional and retail investors to recover billions for his consulting and expert testifying work in over 30 landmark financial market investigations and litigations. His most recent successes include a $508 million partial settlement in the ISDAfix interest rate benchmark class action and a €1.4 billion settlement of securities fraud claims against Steinhoff International Holdings NV (second largest against a European issuer accused of securities fraud).
Robert’s team help law firms, regulators and investors across the globe in litigations and other disputes, from the initial claim filing, through dismissal, discovery, expert testimony and settlement. On his team, Robert is often the main architect for groundbreaking analyses and models used in key filings and testimonies.
Robert completed his MSc in Risk Management and Financial Engineering at Imperial College with distinction. Prior to this, he obtained a BSc Economics degree with distinction from Shanghai University of Finance and Economics.