Sadler Accused Bankers of Botching Block Trade as He Sold Stock

Segantii Capital Management founder Simon Sadler accused bankers of mishandling a block trade in fashion retailer Esprit Holdings Ltd. as his own firm was shorting the stock, a Hong Kong court heard on Tuesday.

The claim was made on the second day of a high-profile insider dealing case, as prosecutors played a series of occasionally expletive-laden phone calls in 2017 between Sadler, former Segantii trader Daniel La Rocca and Tony Psarianos, then an equity sales trading director at Bank of America Corp.’s Merrill Lynch unit.