6th Securitylitigation Dpt


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6th Securitylitigation Dpt

  1. 1. CLE Credits Available Hear from Participating TM Organizations: Sidley Austin Lehman Brothers Inc. Deutsche Bank Managing the Newest Risks and Exposures Bingham McCutchen Autonomy June 10-11, 2009 • New York, NY Bates White Crowell & Moring Citigroup Strengthen Your Securities Law Knowledge by Attending to: NERA Economic Consulting Find out how to defend the new and potentially lethal structured • Fordham University products cases Harvard University Learn how to advance and defend credit default swap claims • Richards Kibbe & Orbe Find out how to value derivatives and other structured products • Credit Suisse Learn how to manage securities litigation on multiple fronts • Hearing the perspective of several judges on the vital issues Securities and Exchange • Commission Find out what’s hot at the SEC • Morgan Stanley UBS Investment Banking Special Thanks to Our Expert Advisory Board: U.S. District Court New York Supreme Court Mary Jeanette Dee Jack Halprin, Esq. Partner Vice President, eDiscovery and Compliance Willkie Farr & Gallagher Richards Kibbe & Orbe Autonomy LeClairRyan Barry W. Rashkover Dr. Faten Sabry ICAP Capital Markets Partner Vice President Analysis Group Sidley Austin NERA Economic Consulting RiskMetrics Group Sponsors: Register Today! Call Dhaval Thakur @ +1-416-597-4754 or Email :dhaval.thakur@iqpc.com
  2. 2. TM Managing the Newest Risks and Exposures Dear Colleague, Network with your If you ever needed to attend a conference on securities litigatio peers: n, this one should be mandatory. It is worth its weight in gold. Assistant General Counsel Securities law is about to take on Litigation a great new importance and will produce the most complicated and aggressive litiga tion in American history. The melt down of the world’s financial market—and it has just begu Associate General Counsel n--will make this litigation explode. So much money has been lost by so many people in so many countries—and we are far from rock bottom yet—that investor lawsuits will boom. And most of the legal activity has not even begun. Chief Compliance Officer It is just starting to take hold. Investors are angry—very angry. Chief Litigation Counsel They want to recoup their losses at almost any cost. They will be increasing ly aggressive about it. They will not leave any stone unturned . They will commence shotgun actio Deputy General Counsel ns against anyone involved in their loss—investment banks, hedg e funds, rating agencies, insurance companies. And anybody else who issued credit default swap s on those investments. They will be asking a lot of questions— Deputy General Counsel and trying to find fault with everyone and anyone who had anything to do with their monry. Litigation That is why IQPC has put together this most dynamic and relevant securities litigation conference which will be held in New York on June 10-11, 2009. Deputy General Counsel Regulatory After extensive research and wide cons ultation, we have a program that featu res the most important issues in securities litigation for 2009 . With an keen understanding of what the major problems will be, we have assembled a cast of lawy Director of Litigation ers, bankers, judges, accountants and academics who know the securities litigation business insid e and out. They have an enormou s amount of experience that can provide you with valuable lesso ns in either advancing or defending Director Regulatory Affairs securities litigation cases of all types. And that includes corporate lawyers too. This is complicated litigation. And General Counsel the information we can provide to you will give you a cutting edge in defending these cases. Head of Litigation If you have the least bit of interest in securities litigation, this is a conf erence you cannot afford to miss. You need to be prepared for the litigation onslaught that is com Managing Counsel ing. I look forward to seeing you in New York! Managing Director Kindest regards, Managing Director Legal Services Partner Fred Sagal. M.A., LL.M Conference Director Senior Corporate Counsel Senior Counsel CLE Credits Available Senior VP and Counsel IQPC will seek CLE accreditation in those states requested by registrants (post conference) which have Special Counsel continuing education requirements. This is subject to the rules, regulations and restrictions dictated by each individual state organization. Application for accreditation of this course or program in all CLE approved states is currently pending. For Financial Aid Policy information and to request CLE credits, please indicate Vice President so when calling to register: 1-800-882-8684, or on the online registration form. Register Today! Call Dhaval Thakur @ +1-416-597-4754 or Email :dhaval.thakur@iqpc.com
  3. 3. Pre-Conference Workshop Wednesday, June 10, 2009 8:00 a.m. – 9:45 a.m. Registration 7:45 What Every Litigator Must Know About Structured Products and Derivatives: Understanding a Very Complex Financial Instrument Structured product instruments are complex. That is what makes them so You will learn the risks—both known and unknown—that are involved • difficult to understand and value. Their volatility exposes derivatives with them users to potentially large losses during periods of heightened market You will understand why volatility exposes the users to large losses • volatility. When losses occur, lawsuits are quick to follow, usually alleging during times of market volatility various forms of fraud. When funds suffer losses, fund managers are You will learn how to structure and defend lawsuits arising out of them • exposed to the risk of suits alleging breach of fiduciary duty for using You can ask any question about derivatives and their deployment from • derivatives improperly, or in some cases, for using them in the first place. leading experts who have the answers Litigators, who usually have not been exposed to these financial What we will cover: instruments, need to gain a first-rate understanding of what they are all • The fundamentals of derivative products about. Conceived by physicists and mathematicians, they are - interest rate forwards, swaps and options: what they are and how extraordinarily difficult to untangle. That is what makes them so difficult they work to value. And it creates huge challenges for the litigators on both sides. - the risks they manage and involve - the distinctions between OTC and exchange-traded derivatives In this session, led by prominent specialists, you will learn the - currency and credit derivatives fundamentals of structured products that will give you an enormous • Derivative contract valuation and risk management amount of insight into any litigation that is brewing—and you will gain - hedging derivatives the understanding needed to really do well in a highly complicated case. - how to estimate the value of a swap and an option - Zero coupon and forward rates How you will benefit: • Counterparty credit risk • You will understand how the various types of structured products were • How to manage and limit counterparty risk put together and sold • Understanding mark-to-market swaps and collateral • You will understand the means by which they can be valued—a difficult task at best—and how they should be assessed Antony R. Mott, Managing Director, Structured Insurance Products, ICAP CAPITAL MARKETS LLC (Jersey City, NJ) About Our Sponsors Autonomy, a global leader in infrastructure software for the enterprise, is spearheading the meaning-based computing movement. Autonomy's technology forms a conceptual and contextual understanding of any piece of electronic data. Autonomy's software powers mission-critical enterprise applications including pan-enterprise search, information governance, end-to-end eDiscovery, records management, video and audio analysis and customer interaction solutions. Website: www.autonomy.com Sidley Austin LLP is a leader in securities litigation and SEC/ SRO enforcement and related work, with more than 120 lawyers focused in these areas. We regularly represent companies, investment banks, financial institutions, officers and directors, audit committees, broker-dealers, hedge funds and their advisers, and professional service firms in all aspects of investigations and securities and corporate litigation. We have been involved in many of the largest securities cases and have taken a multi-billion dollar securities class action to trial. We frequently work with international clients with respect to securities issues in the United States. Website: www.sidley.com Bates White is a consulting firm offering services in economics, finance, and business strategy to leading law firms, Fortune 500 companies, and government agencies. Our professional team of economists, econometricians, strategists, financial analysts, and information technology specialists combines sophisticated analyses, proprietary technology, and extensive industry knowledge to deliver quantitative and strategic solutions. Our firm maintains a network of relationships with economic thought leaders and industry experts to complement our in-house expertise and to provide clients with the latest empirical and theoretical advancements. Emphasizing a customized approach and a complete understanding of each client’s challenges, we bring clarity to complex issues to help our clients make more informed decisions and optimize bottom-line results. Website: www.bateswhite.com Richards Kibbe & Orbe LLP is a dynamic and entrepreneurial firm with in-depth experience in the financial markets and business community. With over 80 lawyers in New York, Washington, D.C. and London, our hallmark is finding creative solutions to difficult problems, whether in a transaction, litigation or regulatory matter. Our practice covers a vast and complex range of issues facing companies in the investment and business communities. The attorneys in our Securities Enforcement, Government Investigations and Criminal Defense practice group have extensive experience dealing with the current regulatory and prosecutorial priorities. We help institutional and individual clients defend – or more often avoid altogether – regulatory and criminal proceedings. We have also long been a quot;go toquot; firm for clients confronting parallel criminal and regulatory investigations. Analysis Group is the largest privately held economic consultancy in North America. Since 1981 we have assisted the nation’s largest law firms and Fortune 500 companies. Our more than 400 professionals work closely with academic experts at leading universities. We have extensive expertise in the disciplines central to evaluating subprime lending matters – including a deep understanding of the underlying financial instruments and of the operations and practices of the various market participants. Sponsorship and Exhibition Opportunities Sponsorships and Exhibits are excellent opportunities for your company to showcase its products and services to high-level, targeted decision makers attending Security Litigation. International Quality & Productivity Center (IQPC) helps companies like yours achieve sales, marketing and branding objectives by setting aside a limited number of event sponsorships and exhibit spaces – all of which are custom-tailored to help your company create a platform to maximize its exposure at the event. Visit us on the Web and see what other exciting and information-packed conferences are being offered by the International Quality and Productivity Center! To find out more about upcoming IQPC events, contact Mario Matulich at 1-866-232-8660 or via email at sponsorship@iqpc.com. Sponsors: 3
  4. 4. Agenda At-A-Glance June 10-11, 2009 Main Conference Day One: Wednesday, June 10, 2009 Registration and Coffee Networking Luncheon for Speakers and Delegates 9:00 1:15 Co-Chairs’ Opening Remarks Effectively Advancing and Defending Credit Default 10:00 2:15 Swap Claims Barry W. Rashkover, Partner, SIDLEY AUSTIN (New York) Karl Snow, Principal, BATES WHITE (Washington, D.C.) 10:10 The Enormous Challenges and Opportunities Facing William McSherry, Partner, CROWELL & MORING Securities Litigation in 2009 (Washington, D.C.) Christy Searl, Senior Vice President, LEHMAN BROTHERS, Susan Steinthal, Director and Counsel, CITIGROUP GLOBAL INC. MARKETS INC. (New York) Adam Savett, Vice President & Director of Securities Class Action Services, RISKMETRICS GROUP (New York) Refreshment Break 3:30 Refreshment Break 11:00 The Greatest Challenge of All: Calculating the Losses 3:45 in the Current Securities Litigation 11:15 How to Effectively Defend the Newest Complex Dr. Faten Sabry, Vice President, NERA ECONOMIC Structured Products Claims CONSULTING (New York) 12:15 The Effective Deployment of e-Discovery in Lessons Learned from the Most Recent Derivatives 4:45 Securities Litigation, Government Investigation and Litigation: An Invaluable Guide for Litigators Regulatory Activities John D. Finnerty, Professor of Finance and Director of the Jack Halprin, Esq., Vice President, eDiscovery and MS Program, FORDHAM UNIVERSITY (New York) Compliance, AUTONOMY End of Day One 5:45 Main Conference Day Two: Thursday, June 11, 2009 Coffee & Networking 12:15 The Liability of the Hedge Funds in the Current 8:00 Securities Litigation Co-Chairs’ Opening Remarks 8:30 Gaurav Jetley, Vice President, ANALYSIS GROUP (Boston, MA) William Donnelly, Shareholder, ECLAIRRYAN (Washington, Managing Litigation on Multiple Fronts: Parallel 8:45 D.C.), (Former Branch Chair, SEC Division of Enforcement) Criminal, Securities and Plaintiff Proceedings Antony R. Mott, Managing Director, Structured Insurance MaryJeanette Dee, Partner, RICHARDS KIBBE & ORBE (New Products, ICAP CAPITAL MARKETS LLC (Jersey City, NJ) York) Elaine Mandelbaum, Deputy General Counsel Regulatory, Networking Luncheon for Speakers and Delegates 1:15 CITIGROUP (New York) Niall Ferguson, Lawrence A. Tisch Professor of History Pierre Gentin, Head of Litigation, CREDIT SUISSE (New York) Professor, Harvard Business School, HARVARD UNIVERSITY Alexander Vasilescu, Regional Trial Counsel and Trial Unit The Judicial Panel: Valuable Insights from the Bench 2:30 Chief, SECURITIES AND EXCHANGE COMMISSION (New The Honorable Garrett E. Brown, Jr., Chief Judge, U.S. York) DISTRICT COURT, DISTRICT OF NEW JERSEY (Trenton, NJ) In-House Counsel Roundtable: Important Corporate 9:45 The Honorable Arthur M. Schack, NEW YORK SUPREME Strategies to Prevent and Control Securities COURT, KING’S COUNTY Litigation in the Current Environment The Honorable Peter G. Sheridan, United States District Judge, Joshua Levine, Senior Vice President & Counsel, CITIGROUP U.S. DISTRICT COURT, DISTRICT OF NEW JERSEY (Newark, NJ) GLOBAL MARKETS INC (New York) Refreshment Break Noah Perlman, Senior Vice President, MORGAN STANLEY 3:20 (New York) From Behind Enemy Lines: The Perspective of Two 3:35 Greg Walker, Managing Director and Counsel, UBS Prominent Plaintiff Attorneys INVESTMENT BANKING (New York) John P. Coffey, Senior Partner, BERNSTEIN LITOWITZ BERGER & GROSSMAN (New York) 10:45 Refreshment Break H. Adam Prussin, Senior Partner, POMERANTZ HAUDEK 11:15 Hot Issues in SEC and SRO Enforcement BLOCK GROSSMAN & GROSS (New York) Barry W. Rashkover, Partner, SIDLEY AUSTIN (New York) Examining Mark-to-Market Accounting Issues in 4:25 Bruce Karpati, Assistant Regional Director, SECURITIES AND Securities Litigation EXCHANGE COMMISSION (New York) Thomas Porter, Vice President, NERA ECONOMIC Alan Reifenberg, Director, Litigation, CREDIT SUISSE CONSULTING (Boston, MA) Michael R. Young, Co-Chair, Securities Litigation and Enforcement Practice Group, WILLKIE FARR & GALLAGHER (New York, NY) Conference Concludes 5:15 Register Today! Call Dhaval Thakur @ +1-416-597-4754 or Email :dhaval.thakur@iqpc.com 4
  5. 5. Main Conference Day One Wednesday, June 10, 2009 Registration and Coffee - demonstrating what the investor sought when the transaction was 9:00 originally undertaken 10:00 Co-Chairs’ Opening Remarks - showing the amount of knowledge that was known—and should have been known—when investment was made Barry W. Rashkover - proving that the investor was given a risk/return relationship Partner • Defending allegations of fraud: an overview of the Madoff case SIDLEY AUSTIN (New York) • Using the doctrine of loss causation after the subprime crisis - what is the state of causation after Dura Pharmaceuticals? The Enormous Challenges and Opportunities Facing 10:10 - properly utilizing the experts in loss causation issues Securities Litigation in 2009 Defense Strategies against Institutional and Foreign Investors The worsening 2009 economy is rapidly becoming fertile ground for an • Defending claims brought by institutional investors—and adapting the outburst of securities litigation between shareholders, banks and strategy to various plaintiffs investment houses. As market participants try to minimize their losses, • How to defend against Blue Sky law claims they now face a whole new onslaught of structured products litigation • Assessing the strength of foreign investor claims that is both complex and potentially extremely costly—and that is just the • The legal grounds for arguing against class certification by foreign latest in a series of exploding challenges in securities litigation. In this investors session, hear two highly experience specialists as they discuss: • How the floodgates of litigation will be opened by structured products The Effective Deployment of e-Discovery in Securities 12:15 litigation—arising mostly out of derivatives and credit default swaps Litigation, Government Investigation and Regulatory • The state of the subprime market and its current litigation activities Activities • How structured products litigation will dramatically affect banks and The recent subprime and financial meltdown is resulting in vastly investment houses increased litigation and investigations. And it has become more • The challenges of valuating claims complicated than ever before. The amount of electronic data that must • The opportunities and pitfalls of litigation over fraud, mis-selling, mis- be reviewed in any lawsuit is enormous. Adding to the challenge are the pricing, mismanagement and due diligence failure claims stemming countless hours of recorded conversations and voicemails. It all makes from structured products knowing how to deploy e-discovery all the more important. In this • The prospects for securities class actions and the ever-increasing session, you will hear Jack Halperin, a prominent American e-discovery threat of activist shareholders specialist discuss the best practices that your organization can use to • Other challenges and opportunities faced by the securities litigation prepare for litigation, government investigations and regulatory activities. industry Topics will include: Christy Searl • How to perform early case assessments on all data sources Senior Vice President • The use of automated technologies to analyze, search and cull voice LEHMAN BROTHERS, INC. data • Issuing and enforcing legal holds and preservation orders Adam Savett • Bridging the gap between legal and IT Vice President & Director of Securities Class Action Services RISKMETRICS GROUP (New York) Jack Halprin, Esq. Vice President, eDiscovery and Compliance Refreshment Break 11:00 AUTONOMY How to Effectively Defend the Newest Complex 11:15 Networking Luncheon for Speakers and Delegates 1:15 Structured Products Claims Structured products claims—those emanating mostly from derivatives-- Effectively Advancing and Defending Credit Default Swap 2:15 could become the most complex and costly litigation in American history. Claims Warren Buffett has repeatedly called them “financial weapons of mass Any discussion of credit default swaps is always heated. They have destruction” and they are the underpinning cause of the financial caused the financial meltdown of several institutions—and the damage collapse. As investors are scrambling to recoup their losses, their lawyers has just begun, making them a fertile source of litigation. So too are are aiming their sights at many potential defendants. In this must-attend collateralized debt obligations. In this cutting-edge presentation by two session, hear two of the industry’s most knowledgeable experts, as they leading specialists, learn how to effectively litigate these cases: discuss the how these cases can be defended: • Demystifying credit default swaps • An assessment of the claims being made in the litigation by investors, The Liability Issues faced by Potential Defendants buyers and sellers • Mis-selling, mis-pricing and mis-management claims by investors • An economic analysis of the cases • Negligent advice and misrepresentation claims • Valuation issues • Dealing with fraud claims • Mark to market • The potential defendants: banks, brokers, dealers, investment houses, • Demystifying credit default swaps hedge funds and the rating agencies • What are the available defenses against claims that a buyer • The impact of tranches and their risk levels on investor claims misrepresented underlying collateral • Identifying and working with expert witnesses for the defense—and • How is it determined that there was actually a default in the swap? countering plaintiffs’ experts • How to carefully exploit internal and external sources of expertise—and Karl Snow working with executives and lawyers who developed structured Principal products BATES WHITE (Washington, D.C.) How to Defend Against Misrepresentation, Negligent Advice, Inadequate William McSherry Disclosure, Fraud and Suitability Claims Partner • Proving the disclosures made by brokers and dealers to investors CROWELL & MORING (Washington, D.C.) • Effectively using statements about lending practices as a defense • How to defend the mechanism used to value the securities Susan Steinthal • Dealing with the failure to adequately disclose side letter and soft Director and Counsel dollar arrangements CITIGROUP GLOBAL MARKETS INC. (New York) • Defending the deviation from prescribed investment guidelines • How a plaintiff’s investing history can become an effective defense Sponsors: 5
  6. 6. Main Conference Day One Continued... Refreshment Break Lessons Learned from the Most Recent Derivatives 3:30 4:45 Litigation: An Invaluable Guide for Litigators The Greatest Challenge of All: Calculating the Losses 3:45 Derivatives litigation is a very new area of the law. Even though in the Current Securities Litigation every one of these cases has a huge amount of money at stake, One of the most daunting challenges in the current structured there is little precedent to guide practitioners. But there is some. products and securities litigation cases is the calculation of damages. And if you look at the cases decided by the U.S. courts since The experts say that many cases have created an unfathomable hole 1994 and follow them through to the present day, you will gain that is most difficult to calculate. In this cutting-edge presentation many valuable insights. Anyone involved in securities litigation will by one of America’s leading experts, learn: gain priceless information that will equip them well in this • How the damages in these cases will be determined and assessed stimulating presentation by the leading expert in this field, who • The tools that are now required to ascertain damages has written, spoken and taught on this topic. You will learn: • What is required to come to an end point • A complete case-by-case analysis of derivative litigation since • Efficient means of economic resources that can lead to better 1994 results • Who brought the suit—and who were the defendants • How banks have altered views on CDO values • What were the causes of action directed against them? • The challenges and implications in derivative pricing • Cases by underlying asset class • The difficulties in valuation determination in court • What different sorts of strategies were used—and why? • Practical lessons from the past for the litigators of today Dr. Faten Sabry Vice President John D. Finnerty NERA ECONOMIC CONSULTING (New York) Professor of Finance and Director of the MS Program FORDHAM UNIVERSITY (New York) End of Day One 5:45 Main Conference Day Two Thursday, June 11, 2009 Coffee & Networking In-House Counsel Roundtable: Important Corporate 8:00 9:45 Strategies to Prevent and Control Securities Co-Chairs’ Opening Remarks Litigation in the Current Environment 8:30 Hear some of the most prominent corporate counsel in America Managing Litigation on Multiple Fronts: Parallel 8:45 as they share their thoughts and strategies on important steps to Criminal, Securities and Plaintiff Proceedings prevent and control securities litigation. This is a valuable session The current crop of securities litigation is producing a combination that will discuss: of criminal, securities and civil proceedings—all happening at the • How to reduce litigation, regulatory and enforcement risks same time. But that - the most important steps to provide prospective investors with • Reviewing recent guidance from the DOJ, SEC and FINRA timely and effective disclosure regarding cooperation and waiver - the disclosure that is required to make an effective and • Outlining potential pitfalls in protecting the attorney client informed choice to investors privilege under recent case law and possible ramifications of the - how should complex instruments be accurately valued? distinction between quot;factualquot; and quot;privilegedquot; information • How to formulate a document management and e-discovery plan • Discussing the practical realities of the current enforcement and - what precisely is the scope of the information that must be litigation environment turned over to the plaintiffs? • Detailing best practices for dealing with state and federal - how to lessen the high costs of discovery regulators and SROs to limit consequences and promote - formulating a plan that guards against overly aggressive compliance plaintiff counsel who seek to use discovery as an expensive weapon against corporations Moderator • How to evaluate the case early for maximum effective results MaryJeanette Dee - the benefits of early case evaluation Partner - comparing the cost of defense to settling an unmeritorious case RICHARDS KIBBE & ORBE (New York) - reaching an early resolution of class action cases • The best steps to co-ordinate the defense with outside counsel Panel Elaine Mandelbaum Moderator Deputy General Counsel Regulatory CITIGROUP (New York) Panel Joshua Levine Pierre Gentin Senior Vice President & Counsel Head of Litigation CITIGROUP GLOBAL MARKETS INC (New York) CREDIT SUISSE (New York) Noah Perlman Alexander Vasilescu Senior Vice President Regional Trial Counsel and Trial Unit Chief MORGAN STANLEY (New York) SECURITIES AND EXCHANGE COMMISSION (New York) Greg Walker Managing Director and Counsel UBS INVESTMENT BANKING (New York) 10:45 Refreshment Break Register Today! Call Dhaval Thakur @ +1-416-597-4754 or Email :dhaval.thakur@iqpc.com 6
  7. 7. Main Conference Day Two Continued... 11:15 Hot Issues in SEC and SRO Enforcement Moderator Panel Moderator The Honorable Garrett E. Brown, Jr. Barry W. Rashkover Chief Judge Partner U.S. DISTRICT COURT, DISTRICT OF NEW JERSEY (Trenton, SIDLEY AUSTIN (New York) NJ) Panel The Honorable Arthur M. Schack Bruce Karpati NEW YORK SUPREME COURT, KING’S COUNTY Assistant Regional Director SECURITIES AND EXCHANGE COMMISSION (New York) The Honorable Peter G. Sheridan United States District Judge Alan Reifenberg U.S. DISTRICT COURT, DISTRICT OF NEW JERSEY (Newark, Director, Litigation NJ) CREDIT SUISSE Refreshment Break 12:15 The Liability of the Hedge Funds in the Current 3:20 Securities Litigation From Behind Enemy Lines: The Perspective of Two 3:35 Hedge funds are a major force in the financial markets, controlling Prominent Plaintiff Attorneys trillions of dollars of assets. Even the largest of hedge funds are little Perhaps the most interesting perspective on defending the new known by the public, but what happens at them matters to just securities claims can come from the plaintiff lawyers representing about every American. the investors. In this must-attend presentation, two of America’s Over the last decade, they expanded beyond their traditional top securities lawyers will tell you how they will mount their cases investor base among the uber-rich and raised billions of dollars from in the claims relating to structured products and subprime pension funds, endowments and foundations. From 1998 to 2008, mortgages. You will find out: the number of hedge funds grew from just over 3,000 hedge funds • The latest thinking in the plaintiff’s bar about securities litigation to more than 10,000 and assets within the funds exploded from in 2009 $374 billion to nearly $2 trillion, according to Hedge Fund Research, • The approaches and tactics that skilfull plaintiffs will take in a firm in Chicago. resolving and litigating these cases • The potential plaintiffs—and how they will make their case But now, with the major losses in the market meltdown, the hedge • The potential defendants—and the strategy they intend to use funds will all be named as defendants. In this presentation, learn against them how that litigation against the hedge funds will proceed, • The strengths and weakness of the causes of action—as well as particularly the causes of action, the co-defendants that will be the potential defenses involved, the strategies that skilfull plaintiff lawyers will deploy, the • The recovery in the litigation—and where the plaintiffs intend to best available defenses and the proper steps that every hedge fund find the source of the funding for their judgments should take before the onset of litigation. John P. Coffey Moderator & Speaker Senior Partner Gaurav Jetley BERNSTEIN LITOWITZ BERGER & GROSSMAN (New York) Vice President ANALYSIS GROUP (Boston, MA) H. Adam Prussin Senior Partner Panel POMERANTZ HAUDEK BLOCK GROSSMAN & GROSS (New William Donnelly York) Shareholder LECLAIRRYAN (Washington, D.C.) Examining Mark-to-Market Accounting Issues in 4:25 (Former Branch Chair, SEC Division of Enforcement) Securities Litigation Antony R. Mott Mark-to-market accounting for financial instruments, a long- Managing Director standing reporting requirement, has received substantial blame Structured Insurance Products for causing, or at least contributing to, the current credit crisis. ICAP CAPITAL MARKETS LLC (Jersey City, NJ) Most of the criticism points to SFAS 157, Fair Value Measurements. That standard was developed in an effort to Networking Luncheon for Speakers and Delegates 1:15 achieve increased consistency and comparability in fair value measurements and to provide expanded disclosures about Luncheon Speaker these measurements. So what went wrong? Or, what didn’t go Niall Ferguson right? This session will explore topics related to mark-to-market Lawrence A. Tisch Professor of History accounting and SFAS 157. In particular, it will address the Professor, Harvard Business School following questions: HARVARD UNIVERSITY • What are fair value measurements? “There Will Be Blood” • Is “market value” the same as “fair value”? Hear an intensely thought-provoking analysis of the global • What if the market used to determine fair value is financial situation from prominent Harvard author and financial dysfunctional? guru Niall • Ferguson as he reviews the world-wide financial • Are pre-SFAS 257 numbers different from post-SFAS 157 crisis which he predicts will provoke violent political conflict numbers? around the world. • Did SFAS 157 cause the credit crisis? Thomas Porter The Judicial Panel: Valuable Insights from the Bench 2:30 Vice President, This interactive panel will provide valuable information from NERA ECONOMIC CONSULTING (Boston, MA) respected judges and a leading member of the bar on hot topics in securities litigation. You will hear their perspectives on the Michael R. Young subprime litigation, the coming onslaught of structured products Co-Chair, Securities Litigation and Enforcement Practice litigation and credit default swaps claims. As well, you will hear Group the judiciary’s view on new investor claims, non-traditional WILLKIE FARR & GALLAGHER (New York, NY) claimants and the success of defense tactics. This is a must- attend session! Conference Concludes 5:15 Sponsors: 7
  8. 8. TM Registration Information In-House Counsel Pricing Register by 4/3/2009 Register by 4/17/2009 Register by 5/15/2009 Standard Price Conference Only $1,299 (Save $500) $1,399 (Save $400) $1,599 (Save $200) $1,799 Conference + 1 Workshop $1,848 (Save $500) $1,948 (Save $400) $2,148 (Save $200) $2,348 Workshop Only $549 each $549 each $549 each $549 each Content Package $699 $699 $699 $699 All Others Pricing Register by 4/17/2009 Register by 5/15/2009 Standard Price Conference Only $1,999 (Save $800) $2,399 (Save $400) $2,799 Conference + 1 Workshop $2,548 (Save $800) $2,948 (Save $400) $3,348 Workshop Only $549 each $549 each $549 each Content Package $699 $699 $699 $699 * All prices include lunches, refreshment and detailed conference materials. Details for making payment via EFT or wire transfer: Contact us at 1-800-882-8684 for special dietary requirements. JPMorgan Chase * Discount cannot be combined Penton Learning Systems LLC dba IQPC: 957-097239, ABA/Routing #: 021000021 Reference: Please include the name of the attendee(s) and the event number: code 10715.006 TEAM DISCOUNTS Contact Customer Service at 1-800-882-8684 for the following discounts: Payment Policy: Payment is due in full at the time of registration. Your registration will not be TEAM: Only one discount may be applied per registrant. confirmed until payment is received and may be subject to cancellation. NON-PROFIT, GOVERNMENT, ACADEMIA: Call for more information. For IQPC’s Cancellation, Postponement and Substitution Policy, please visit www.iqpc.com/cancellation PAYMENT INFORMATION: Details for making payment via EFT or wire transfer: A $99 processing charge will be assessed to all registrations not accompanied by credit card payment at the time of registration ©2009 IQPC. All Rights Reserved. The format, design, content and arrangement of this brochure MAKE CHECKS PAYABLE IN U.S. DOLLARS TO: IQPC constitute a trademark of IQPC. Unauthorized reproduction will be actionable under the Lanham Act and common law principles. REGISTRATION CARD (Email this form to dhaval.thakur@iqpc.com) TLS/DPT YES! Please register me for ❑ Conference Only ❑ Conference + 1 Workshop ❑ Workshop Only ❑ Content Package Name _________________________________________________________________________________________________________ Job Title _________________________________________________ Organization_________________________________________ Approving Manager_____________________________________________________________________________________________ Address _______________________________________________________________________________________________________ City________________________________________State__________________________________________Zip_________________ Phone______________________________________E-mail_____________________________________________________________ ❑ Please keep me informed via email about this and other related events. ❑ Check enclosed for $_________ (Payable to IQPC) ❑ Charge my ❑ Amex ❑ Visa ❑Mastercard ❑ Diners Club Card #_______________________________Exp. Date____/____ ❑ I cannot attend, but please keep me informed of all future events.