#EspritHoldIngsltd

Bank of America Corp. adopted new block‑trade guidelines months after a deal now at the center of a criminal trial involving a well-known hedge fund, a Hong Kong court heard Monday.

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.

In the closely knit financial community of Hong Kong, major criminal cases are both rare and closely watched.