Equity

Naomi Bishop, a senior investment banker, is assigned to manage the IPO for Cachet after her previous project is undervalued. She aims to bounce back by securing a high-profile deal, despite early professional setbacks. She must navigate investor skepticism and mounting pressure to deliver results.

Naomi runs into Samantha Ryan, a federal prosecutor, who is investigating white-collar crime. Samantha's presence foreshadows looming legal scrutiny around Naomi's circle. The chance encounter reinforces the collision between Naomi's dealmaking and Samantha's investigations.

Samantha expands her case to Naomi's inner circle by focusing on Michael Connor, Naomi's broker boyfriend, whom she suspects of insider trading. She begins monitoring his activity as part of a broader inquiry. Michael tries to press Naomi for Cachet information but fails, heightening the tension between them.

During due diligence, Marin reveals a vulnerability in Cachet's technology that could be exploited by hackers. Naomi weighs the security risk, but the financial numbers still look solid, keeping the IPO on track. The discovery raises the stakes and questions about the true risk behind the company.

Despite the red flags, Naomi's numbers-checks pass and she continues to push Cachet's shares to investors. The pressure to close the deal overrides concerns about security breaches. The roadshow unfolds as the market eyes a platform with potential but acknowledged risks.

Michael, frustrated by a lack of insider tips, attempts to hack Naomi's phone to access confidential information. His effort underscores how easily the insider-trading network could be exposed. Naomi remains focused on the IPO, unaware of the immediate threat.

Erin Manning learns that Marin has been fired from Cachet and tries to warn Naomi by going to Michael's home, but ends up leaking the information to him. Michael uses the leaked details to pass tips to Titanite and to a tech journalist. The breach accelerates the unraveling of Naomi's dealmaking world.

Michael leaks insider tips to his friends at Titanite and forwards the story to a tech journalist, widening the circle of information sharing. The leaks fuel market rumors that threaten Cachet's IPO and poison investor confidence. Titanite's interest surges as regulators and rivals take note.

Naomi spots the green-pen clue and realizes Erin betrayed her, linking the pen to Michael's habit. The revelation shatters trust within Naomi's team and casts doubt on the due diligence process. As the IPO nears, internal fractures threaten to derail the deal.

On the first day of trading, investor confidence collapses and Cachet's stock falls about a third in value. Naomi faces scrutiny as the market reacts to security concerns and insider-trading whispers. The IPO's promise turns into a setback that reverberates through the company.

Michael leaves Naomi's firm to join Titanite, while Erin steps into Naomi's previously held role. Naomi is fired as a result of the fallout, and Erin ascends within Cachet. The rapid power shift exposes how betrayal and market pressure can reshape a corporate ladder.

Unable to crack the case from the outside, Samantha interviews for a lucrative corporate position, using phrases from Naomi's alumni speech to frame her own ambitions. The move exposes her willingness to win through money and influence. The scene leaves Naomi's world unsettled as the larger mystery remains unresolved.