Advanced Forum Trying and Defending

Securities Class Actions

New Claims * New Targets * New Strategies For Settlement and Trial

Tuesday, June 24, 2003

About

Securities class actions are on the rise, despite attempts by Congress to curtail them. The IPO laddering cases pushed them to an all-time high in 2001 - and 2002 was not far behind. With accounting "irregularities" leading to some of most notorious corporate scandals in history, wary investors view publicly-held companies with ever-increasing scrutiny.

New exposures for publicly-held companies and their advisors will no doubt fuel this trend. These include:
  • Recent court decisions providing a roadmap for plaintiffs to target secondary actors, including auditors, attorneys and underwriters
  • The reforms established by and developing under Sarbanes-Oxley
  • The heightened scrutiny of accounting standards and practices which has resulted in many companies issuing financial restatements
If there was ever a time for securities litigators, in-house counsel, directors and officers, D & O insurers and institutional investors to be on top of the latest developments and strategies for trying and defending securities class actions, this is it. Yesterday's knowledge is not enough when dealing with a class action in today's new and shifting playing field.

This American Conference Institute conference brought together an expert faculty of leading attorneys from the plaintiff and defense bars, accounting firms, insurance and corporate in-house counsel and the SEC, to provide you with the latest information and practical insights on:
  • Secondary actor liability from both the plaintiff and defense perspectives
  • Where are the trouble spots in Sarbanes-Oxley?
  • Using safe harbors for protection and winning cases
  • The boundaries of the PSLRA's discovery stay and its relationship with SLUSA
  • Class certification for institutional investors and defense strategies to challenge it
  • The latest trends in damages
  • When will your expert's testimony be admitted?
  • Developments in accounting fraud cases
A highlight of this conference included coverage of the latest developments and theories in the area of secondary actor liability by a panel of leading securities litigators. In addition, a distinguished faculty of professionals from leading accounting firms and class action litigators presented a comprehensive overview of accounting fraud cases.

This is a rare opportunity to tap into the knowledge and expertise of the top litigators in this field.

Contents & Contributors

About

Securities class actions are on the rise, despite attempts by Congress to curtail them. The IPO laddering cases pushed them to an all-time high in 2001 - and 2002 was not far behind. With accounting "irregularities" leading to some of most notorious corporate scandals in history, wary investors view publicly-held companies with ever-increasing scrutiny.

New exposures for publicly-held companies and their advisors will no doubt fuel this trend. These include:
  • Recent court decisions providing a roadmap for plaintiffs to target secondary actors, including auditors, attorneys and underwriters
  • The reforms established by and developing under Sarbanes-Oxley
  • The heightened scrutiny of accounting standards and practices which has resulted in many companies issuing financial restatements
If there was ever a time for securities litigators, in-house counsel, directors and officers, D & O insurers and institutional investors to be on top of the latest developments and strategies for trying and defending securities class actions, this is it. Yesterday's knowledge is not enough when dealing with a class action in today's new and shifting playing field.

This American Conference Institute conference brought together an expert faculty of leading attorneys from the plaintiff and defense bars, accounting firms, insurance and corporate in-house counsel and the SEC, to provide you with the latest information and practical insights on:
  • Secondary actor liability from both the plaintiff and defense perspectives
  • Where are the trouble spots in Sarbanes-Oxley?
  • Using safe harbors for protection and winning cases
  • The boundaries of the PSLRA's discovery stay and its relationship with SLUSA
  • Class certification for institutional investors and defense strategies to challenge it
  • The latest trends in damages
  • When will your expert's testimony be admitted?
  • Developments in accounting fraud cases
A highlight of this conference included coverage of the latest developments and theories in the area of secondary actor liability by a panel of leading securities litigators. In addition, a distinguished faculty of professionals from leading accounting firms and class action litigators presented a comprehensive overview of accounting fraud cases.

This is a rare opportunity to tap into the knowledge and expertise of the top litigators in this field.

Contents & Contributors

THE CURRENT LANDSCAPE FOR SECURITES LITIGATION
Paul R. Bessette, Akin, Gump, Strauss, Hauer & Feld LLP
Michael J. Biles, Akin, Gump, Strauss, Hauer & Feld LLP
Jennifer R. Brannen, Akin, Gump, Strauss, Hauer & Feld LLP
Blair C. Hedges, Akin, Gump, Strauss, Hauer & Feld LLP
Alfred M. MacDaniel, Jr., Akin, Gump, Strauss, Hauer & Feld LLP

THE SEVEN YEAR ITCH: A SURVEY OF EXPERIENCE UNDER THE 1995 AMENDMENTS TO THE SECURITIES LAWS
Fred T. Isquith, Wolf, Haldenstein, Adler, Freeman & Herz, LLP

FROM CENTRAL BANK TO ENRON: THE RESURGENCE OF SECONDARY ACTOR LIABILITY
Jeffrey A. Klafter, Klafter & Olsen LLP

CREATIONISM AND § 10(B) SECONDARY LIABILITY: WILL ENRON CREATE/MAKE A DIFFERENCE?
Aegis J. Frumento, Duane Morris LLP

FIRST THING'S FIRST: DECIDING WHO SHOULD CONDUCT YOUR INTERNAL INVESTIGATION
Jonathan R. Tuttle, Debevoise & Plimpton
Christopher R. Hines, Debevoise & Plimpton

FINDING SHELTER IN THE STORM: SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
Carolyn G. Nussbaum, Nixon Peabody LLP
Courtney Worcester, Nixon Peabody LLP

SLUSA PREEMPTION AND THE PSLRA DISCOVERY STAY –THE DEBATE CONTINUES
Douglas C. Conroy, Paul, Hastings, Janofsky & Walker LLP

SLUSA PREEMPTION – A PRIMER
Ira A. Schochet, Goodkind, Labaton, Rudoff & Sucharow LLP

APPOINTMENT OF LEAD PLAINTIFF UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT: UPDATE 2002
Stuart M. Grant, Grant & Eisenhofer, P.A.
Christine S. Bulman, Grant & Eisenhofer, P.A.

BUSINESS AND SECURITIES LITIGATION: UPDATE 2002-2003
Joseph Allerhand, Weil, Gotshal & Manges LLP
Greg Danilow, Weil, Gotshal & Manges LLP
Paul Ferrillo, Weil, Gotshal & Manges LLP

PROTECTING THE WRONGLY ACCUSED: WEEDING OUT MERITLESS SECURITIES ACTIONS AT THE CLASS CERTIFICATION STAGE
Darlene DeMelo, Testa, Hurwitz & Thibeault, LLP
Paul A. Ferrillo, Weil, Gotshal & Manges LLP
Brian E. Pastuszenski, Testa, Hurwitz & Thibeault, LLP
Alexis Shapiro, Testa, Hurwitz & Thibeault, LLP

SECURITIES FRAUD LITIGATION SETTLEMENTS: OBSERVATIONS REGARDING RECENT TRENDS AND IMPLICATIONS FOR DEFENSE STRATEGY
Andrew T. Karron, Arnold & Porter
Scott B. Schreiber, Arnold & Porter

LOSS CAUSATION ISN'T SIMPLE: APPLYING PALSGRAF TO SECURITIES FRAUD
Todd S. Collins, Berger & Montague, P.C.

RECENT TRENDS IN SECURITIES CLASS ACTION LITIGATION: WILL ENRON AND SARBANES-OXLEY CHANGE THE TIDES?
Dr. Frederick C. Dunbar, National Economic Research Associates
Elaine Buckberg, National Economic Research Associates
Ronald I. Miller, National Economic Research Associates

DAMAGES IN SECURITIES CLASS ACTIONS
Stephen P. Younger, Patterson, Belknap, Webb & Tyler LLP

SPECIAL CONSIDERATIONS FOR ACCOUNTING FRAUD CASES
Scott M. Univer, BDO Seidman, LLP

WHAT MAKES (OR DOESN'T MAKE) A FINANCIAL RESTATEMENT A STRONG SECURITIES LITIGATION CASE?
Kerry Francis, Deloitte & Touche LLP

TRYING AN ACCOUNTING FRAUD CASE IN THE POST-ENRON ERA
Robert P. Varian, Clifford Chance US LLP
James E. Burns, Clifford Chance US LLP
Sara B. Brody, Clifford Chance US LLP
Thomas M. Jeon, Clifford Chance US LLP


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