Feds Fight Ex-Optionable CEO's Bid To Trim Charges

Law360, New York (August 8, 2011, 5:43 PM EDT) -- Federal prosecutors on Sunday fought a bid by former Optionable CEO Kevin Cassidy to toss parts of the indictment that alleges he was involved in a scheme to artificially inflate Bank of Montreal’s natural gas options portfolio.

Cassidy's attorneys had argued that any losses the bank suffered should be excluded because a new indictment didn't allege that Cassidy knew that a bank trader, David Lee, was inflating options prices, but the government rejected that argument.

"Proof of BMO’s loss, and BMO’s evolving discovery of that loss,...
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Case Information

Case Title

USA v. Cassidy

Case Number



New York Southern

Nature of Suit

Date Filed

November 12, 2008


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