Although EMI has already talked to Sony about a distribution deal, negotiations were terminated after a few days as Allen concentrated on a similar transaction with Universal.
A similar transaction was also done by Citigroup with Dynegy in 2001, involving an effort known as Project Alpha, which provided Dynegy with $300 million.
Mr. Landes's sale came the same day as a similar transaction that netted $44 million for Harlan W. Waksal, then ImClone's chief operating officer and now its chief executive.
Cobra stands for currency options bring reward alternatives, and Cobra Swaps, a similar transaction named in the Barron complaint, involve generating artificial losses through offsetting foreign currency trades channeled through partnerships and private companies.
They had a similar transaction on May 9. Then the officer raised the stakes, handing over $1,000 for 28 grams on May 15 and the same amount on May 18.
The Financial Times says that the bank is looking at a deal to shift up to £4bn of the assets off its balance sheet, in an echo of a similar transaction it undertook last month with a £12.3bn portfolio.
