(L-R)Kenneth Breen and Phara Guberman of Paul Hastings Courtesy photos Litigators of the Week: This Paul Hastings Duo Flipped the Conviction of a Trader Accused of Manipulating LIBOR
The Second Circuit reversed the conviction of former Deutsche Bank trader Matthew Connolly. The decision is the second white-collar appellate reversal Kenneth Breen and Phara Guberman of Paul Hastings have won in as many years.
February 04, 2022 at 07:30 AM
8 minute read
This week's Am Law Litigation Daily Litigators of the Week are Kenneth Breen and Phara Guberman of Paul Hastings. The pair scored a remarkable turnaround at the Second Circuit this week for their client, former Deutsche Bank derivatives trader Matthew Connolly, when the court overturned his 2018 conviction on wire fraud and conspiracy charges.
Federal prosecutors charged Connolly and his London-based colleague Gavin Black as part of the wide-ranging probe into allegations that banks had manipulated the London Interbank Offered Rate to benefit their own trading positions. Connolly and Black were accused of participating in a scheme to adjust the submissions Deutsche Bank made to the LIBOR panel to game the rate and give the bank an unfair advantage over trading partners.
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