Securities Lending Expert in Dividend Distribution

Case Description:

A securities lending expert with expertise in dividend distribution was sought for a breach of contract case. Plaintiff loaned shares of corporate pension trusts to the defendant in exchange for collateral and a fee. The defendant used the borrowed securities to enable short sales and other transactions. Plaintiff alleges the defendant withheld benefits, such as dividends distributed while the defendant held the shares, that, by custom and as a matter of contract, ought to have been turned over to the plaintiff.

IMS ExpertServices was asked to locate an expert in securities lending with the ability to communicate the legal and tax aspects of securities lending practices. The expert was needed to consult on the contractual obligations and on industry standards regarding dividend distribution and borrowed shares.

Experts Presented:

  • Securities Trading Expert

    This expert in securities trading is an academic whose research interests include securities market design and short selling. His interest in short selling has brought him an in-depth understanding of securities lending as well as naked short selling. He holds an M.B.A. from the Harvard University School of Business and a Ph.D. in finance. He has been published extensively in financial service industry publications and has expert witness experience, including depositions and trial testimony. IMS Reference #5010680

  • Securities Expert

    This securities expert is currently associated with the Wharton School of Business where he focuses his research on topics such as capital markets, consumer credit, and predatory lending. He has published extensively and is considered an authority on equity borrowing. He is frequently called upon to consult on dividend distribution and asset management. This expert holds a Ph.D. in finance and a bachelor's degree in economics from Yale University. IMS Reference #5007223

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