October 2018: S&O Trial Team Led by David Schertler Wins Acquittal in Southern District of New York Foreign Exchange Price-Fixing Prosecution
After a two-week trial and less than a half day of deliberations, a jury in the United States District Court for the Southern District of New York (Manhattan) acquitted Schertler & Onorato’s client, Christopher Ashton, as well as two codefendants, Richard Usher and Rohan Ramchandani, of a single charge alleging that they used an online chatroom to fix prices in the euro-to-dollar foreign exchange market. All three defendants were FX traders based in London and waived extradition to fight the government’s case. Schertler & Onorato founding partner David Schertler was assisted at trial by Lisa Manning and paralegal Jenna Johnston. After the acquittals, Mr. Schertler said that the trial team was extremely grateful for the jury’s decision, which “completely vindicates Chris, as well as Mr. Usher and Mr. Ramchandani.” The case, United States v. Usher, et al., 17-CR-00019, received widespread publicity in legal and financial press.