Setback For Seita In Swaps Suit Against Salomon Smith Barney


NEW YORK--The New York supreme court has dismissed claims of breach of fiduciary duty, misrepresentation and fraud filed last year by Seita against Salomon Smith Barney over two currency swap transactions contracted in 1994. The only outstanding portion of Seita's claims involves alleged concealment of critical investment facts by Salomon.

Seita went to court to recover the $30 million losses generated by swaps. The company claims Salomon's London subsidiary fraudulently marketed the derivatives

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here