Litigation

Securities

Published: November 2006
Last Updated: October 2012

Course Handbook for Securities Litigation & Enforcement Institute 2009, a September 2009 program and webcast.

Recorded on: Apr. 12, 2010

BARRY: All right. Welcome to day two of the Investment Management Institute. Paul and I try every year when we get the reviews of the conference to evaluate the panels at work and make changes and additions. This panel reflects an addition that we made this year in response to comments that we got last year. We got some comments to the effect that the combination of investment advisor and broker-dealer was more and more relevant and more and more ...

Recorded on: Apr. 12, 2010

PAUL: OK. Welcome back to our afternoon session. As we indicated earlier, I think our conference comes at a particularly opportune time, given that in Congress we're likely to see discussions and debate heat up on financial services reform in the coming weeks. And we're fortunate to have on our panel two folks to talk about those issues, who have been following them very closely. First we have Elizabeth Krentzman to my far right. Elizabeth is a ...

Recorded on: Apr. 12, 2010

BARRY BARBASH: This is our last panel of the afternoon, the first day. I am joined for this discussion on SEC enforcement and litigation by, to my far right, Jim Benedict, a litigation partner with Milbank. Next to Jim is Lori Martin, litigation partner with Wilmer Hale, and next to me, Joan McKown, who is the chief counsel of the Division of Enforcement. I was struck this morning by what David Bergers had to say about conflicts of interest and ...

Recorded on: Jun. 22, 2010

CLIFFORD E. KIRSCH: Going to start off and as said, we're going to start out by sort of addressing a couple of the questions that came in on the last panel. Spend a couple of minutes on that and then dive into our panel. The question that came in was what is a commingled investment trust fund, and how are they differ from mutual funds. And then there's sort of a host of additional parts of the question saying, is it hard to find more information about ...

Recorded on: Jun. 22, 2010

SPEAKER 1: OK, so now comes the panel you've all been waiting for. No pressure, but you guys have gotten a lot of buzz throughout the day as to how terrific this panel is going to be. So let me just introduce Mark Holland and Lori Martin. Both of these lawyers have decades of experience representing investment advisers and mutual funds in various types of litigation, as well as other types of general securities litigation. Mark is a partner at Goodwin ...

Recorded on: Feb. 16, 2011

AMY: Now it's my pleasure to turn this briefing over to Larry Zweifach. LAWRENCE J. ZWEIFACH: Amy, thank you very much. Today, the municipal securities market is prominently featured on the SEC's regulatory and enforcement radar screen. As an example, in the fall of 2010, the SEC initiated a series of field hearings led by Commissioner Elise Walter to explore the current state of the municipal securities market, with one of the principal goals being ...

Recorded on: Jun. 9, 2011

SPEAKER 1: All right, welcome back. Throughout the day we've heard all about fees, and conflicts of interest, and the role of the board. And one of the themes that you've been hearing over and over again is a lot of these principles and the protocols that funds operate under have been established through litigation and in the courts. So it makes perfect sense for us to now focus on registered investment company litigation throughout the ages. And ...

Recorded on: Oct. 18, 2011

DAVID KISTENBROKER: All right. Welcome back to the 1:30 session, the afternoon kickoff session. This is going to be, I think, as Seth pointed out this morning, a first time ever in San Francisco, mediation simulation, if you will, to show you how the sausage is really made. We've got a great panel assembled for you today. You know Seth Aronson. Seth will be playing the defense counsel for the corporation in this case. Next to him is Allan Kleidon. ...

Recorded on: Oct. 18, 2011

DAVID KISTENBROKER: All right. Well, welcome back. We're going to get underway now with the 3 o'clock panel. I have to say that I'm very excited about this. This is the first time that the globalization aspect, if you will, of securities litigation has been included in the PLI Institute that we're here for today, and I'm extremely excited about it. When we went to PLI with it they said, the what? And we had a brief discussion and they said, boy this ...

Recorded on: Oct. 18, 2011

DAVID H. KISTENBROKER: Start us off? TIMOTHY A. DELANGE: I'd be happy to. Thank you, Seth and David. I think my first response is I can't predict what the next new big wave is going to be, and if I did, all my opponents up here on the defense side would argue there's no loss causation, they'd argue there's truth on the market everyone knew about it because we anticipated it. But I think Seth did a good job summarizing what happens from the plaintiff's ...

Recorded on: Nov. 17, 2011

RICHARD CLARY: And I'm going to move over to this, because I wanted to prove that even with complex litigation you can go low tech. So we have the standard flip chart which is about as low tech as you can get, but I think will be useful, or at least [INAUDIBLE]. First I want to just describe what the pieces are, because it will help you understand, I hope, where everybody's trying to get in complex litigation. So for Enron, the starting point was ...

Recorded on: Dec. 16, 2011

AMY TAUB: Thank you. Greetings. My name is Amy Taub, and I am a program attorney with PLI. I would like to welcome you to today's briefing, Securities And Shareholder Litigation: 2011 Year End Update And Recent Developments. Before we begin, I have some administrative announcements. This briefing will be one hour in length. Please feel free to send questions at any time during the briefing. Please remember that you have access to materials for this ...

Recorded on: Feb. 13, 2012

BARRY P. BARBASH: Good morning, all. Thank you for coming up today for day two of the Investment Management institute. Paul and I, every year sit down after a conference, and then a few months after that get together again and think about what we're going to do differently from one year to the next. And coming into this year, I'm not sure either of us-- because we're both generally corporate lawyers-- really wanted to acknowledge it, but ultimately ...

Recorded on: Feb. 16, 2012

AMY TAUB: Greetings My name is Amy Taub, and I am a program attorney with PLI. I would like to welcome you to today's briefing, Say on Pay Lawsuits, an update under the Dodd-Frank Act. Before we begin, I have some administrative announcements. This briefing will be one hour in length. Please feel free to send questions at any time during the briefing. Please remember that you have access to materials for this briefing via the course handbook tab ...

Course Handbook from the program Handling a Securities Case 2012: From Investigation to Trial and Everything in Between, held April, 2012.

Recorded on: Apr. 27, 2012

LYLE ROBERTS: Great. If everyone is settled in, or getting settled in, we will launch into our second panel today, which is, OK, we've had the investigation. Or at least we've talked about the issues surrounding investigation, and perhaps a quick, early settlement, if possible, with the SEC. But what about the civil actions? Our fact patterns suggest that we're going to have a lot of civil actions going on, including multiple securities class actions ...

Recorded on: Apr. 27, 2012

LYLE ROBERTS: Great. So let's get started with our final panel of the day. And really the reason we're all here of course, which is to do some ethics and ethical issues in complex securities litigation. And with me today for the final panel I have Felipe Arroyo, who is with Robbins Umeda. We've got Paul Gluckow at Simpson Thacher. Harold Gordon with Jones Day. And Jim Windels with Davis Polk. All of whom have extensive experience in securities litigation. And ...

Recorded on: Apr. 27, 2012

JONATHAN K. YOUNGWOOD: Panel, yes. So we've talked about the investigation, the government regulatory aspect, which is often how a securities case starts. We've talked about the drafting of the complaint, the filing of the complaint, the likely motion to dismiss the Complaint. And lo and behold, we can all assume that the Medicines R Us case was not thrown out on a motion to dismiss. And so it's going to continue as a civil securities case, likely ...

Recorded on: Apr. 27, 2012

LYLE ROBERTS: Great. We are back. And thanks, everybody, for coming back in. And this panel will now be on seeking resolution, strategies in mediation and settlement. And as you know, through the morning, we kind of took you through the case from investigation, to filing of a civil action, to some of the litigating of the civil action. And an important piece, especially in a securities class action, is the potential for settlement. And so this panel ...

Recorded on: Apr. 27, 2012

JONATHAN K. YOUNGWOOD: We are now going to formally start our first panel, and let me briefly introduce the panelists who are up here with me now. I will go from my right down the panel, so you're left, or left to right. Adam Hakki, immediately next to me, is a partner at Shearman & Sterling in their litigation group. He has extensive experience representing clients in complex securities actions and shareholder litigation, as well as in civil ...

Recorded on: Apr. 27, 2012

JONATHAN K. YOUNGWOOD: OK, so even as the panelists sit down, I'm going to introduce them. JAMES R. SWANSON: Does that mean you'd like us to sit down? JONATHAN K. YOUNGWOOD: I said even as you sit down. So the mediation failed. No matter what you saw, the mediation was a failure. The summary judgment motion has been lost, and now we're going to talk about trial of the case. Briefly introduce the panelists. Sitting right next to me is Marc De Leeuw. ...

Course Handbook from the program Fundamentals of Mutual Funds and Exchange-Traded Funds 2012, held June, 2012.

Recorded on: Jun. 11, 2012

LAURIN BLUMENTHAL KLEIMAN: Welcome back, everybody. So now comes the time when we talk about what happens when things allegedly go wrong. We spent most of the first 2/3 of this program talking about the intricacy of the regulatory framework and the principles underlying investment company regulation, and now we have two speakers who are going to talk to you about what happens when mutual funds and other investment companies get involved in litigation. So ...