In what some are calling unusual in a market where teams often hop companies en masse, Calyon SG, a unit of French bank Credit Agricole, is in the midst of suing Mizuho Securities USA and several of its top CDO bankers for alleged damages to the company by doing just that.

Calling the departures an "illicit scheme," Calyon is seeking $150 million in compensatory damages and $600 million in punitive damages, according to its complaint.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.