The founder of First Brands claims: Jefferies is holding key documents

Patrick James, the founder of First Brands Group, has requested a federal judge in New York to order Jefferies Financial Group to comply with a subpoena and produce various documents related to its investment in First Brands. James stated that the documents he seeks are "central" to the fraud allegations and may prove his innocence; he also pointed out that Jefferies played a "central role" in the financing arrangements under investigation. Jefferies is currently refusing to hand over documents, including internal communications and due diligence records. In response, James stated that the firm "cannot profit from these financing arrangements while refusing to provide documents that may prove its innocence."