SEC v. Westport Capital Markets, LLC and Christopher E. McClure

In the case of SEC v. Westport Capital Markets, LLC and Christopher E. McClure, a Brattle Group Principal was retained by the SEC to provide an expert report and testimony on the dually-registered broker-dealer and investment advisor’s efforts to defraud its advisory clients. Our team examined the firm’s trading activities, the earnings that it received as a result of this illegal behavior, and its purchase of 12b-1 fee-paying share classes in mutual funds. A Connecticut federal court jury found in favor of the SEC, finding Westport Capital and its owner guilty of intentionally, knowingly, and recklessly defrauding its clients.