Law Seminars International Presents

A Comprehensive One-Day Workshop on

Estimating Damages in Securities Litigation

The Latest Challenges and Issues

May 7, 2007
The Yale Club of New York City in New York, NY
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Who Should Attend

Attorneys and business executives who are presently, or are at risk of becoming, involved in securities litigation

Why Attend

Liability analysis in the context of securities lawsuits and related regulatory investigations and proceedings is obviously important. Equally important, however, but often overlooked (or not focused upon early enough) are issues relating to damages, particularly in non-traditional contexts. Trial lawyers must be aware of and question the key assumptions underlying any economic model used by the testifying expert to calculate such damages. Many questions confront today's securities litigators, including: - What can a defendant do to seek to break the causal link between challenged conduct and losses incurred? - What novel damages theories are the courts permitting? - What are the best practices for implementing and defending against damage estimation methodology? - What impact can an SEC settlement have on the assessment of damages in related civil litigation? This seminar will provide you with some tools needed to answer these and other key questions." ~ Program Co-Chairs: Stewart D. Aaron, Esq. and Atreya "Chuck" Chakraborty, Ph.D.

What You Will Learn

~Case law developments in identifying affected securities and establishing causation ~Current issues in getting the data for a defensible damages study ~Damages in stock-option backdating ~Latest challenges in proving damages from the plaintiff and defendant perspectives ~Update on damages in the regulatory/enforcement setting

What Attendees Have Said About Similar Programs

~ Real life examples were most relevant ~ Solutions were helpful ~ The materials will be useful for review and implementation in my work ~ I speak a lot and your programs are consistently the best run ~ Good practical pointers for litigators and business people alike ~ Audience questions and discussions with speakers were insightful ~ Subjects covered were very good & thorough for a one day class

Agenda

Monday, May 07, 2007

8:00 am Registration & Continental Breakfast
8:30 am Introduction & Overview
  Atreya "Chuck" Chakraborty, Ph.D., Program Co-Chair
University of Massachusetts Boston / Cambridge, MA
  Stewart D. Aaron, Esq., Program Co-Chair
Arnold & Porter LLP / New York, NY
8:45 am Case Law Developments in Identifying Affected Securities and Establishing Causation: Who Was Damaged? Whom Do You Go After? What Was the Causal Link?
  Case law on acceptable economic techniques
  Arthur H. Aufses, III, Esq.
Kramer Levin Naftalis & Frankel LLP / New York, NY
  What the cases have to tell us about current standards for a well-constructed economic study
  Lynda S. Borucki, Ph.D., Principal
The Brattle Group / Cambridge, MA
10:15 am Break
10:30 am Current Issues in Getting the Data for a Defensible Damages Study
  Strategies for the attorney taking the deposition
  Jay Kelly Wright, Esq.
Arnold & Porter LLP / Washington, DC
  Strategies for the defending attorney
  Thomas M. Skelton, Esq.
Lowey Dannenberg / White Plains, NY
12:00 pm Lunch (provided)
1:15 pm Damages in Stock-Option Backdating
  What is being investigated? Other practices that may be challenged
  Leslie R. Caldwell, Esq.
Morgan, Lewis & Bockius LLP / New York, NY
  James Bohn, Ph.D., Principal
UHY Advisors FLVS, Inc. / Boston, MA
2:15 pm The Latest Big Challenges in Proving Damages
  The defendant's perspective
  Michael Moscato, Esq.
Curtis, Mallet-Prevost, Colt & Mosle LLP / New York, NY
  The plaintiff's perspective
  Jeffrey W. Golan, Esq.
Barrack, Rodos & Bacine / Philadelphia, PA
3:15 pm Break
3:30 pm Update on Damages in the Regulatory/Enforcement Setting
  Types of remedies the regulators are pursuing (e.g. penalties, restitution, disgorgement); differences between remedies under the Martin Act and federal securities laws; identifying who receives the benefit of any regulatory settlement
  Robert J. Keyes, Assistant Regional Director, NE Regional Office
U.S. Securities and Exchange Commission / New York, NY
  Jurisprudence vs. "settlement prudence" in developing strategies for responding to a regulatory complaint
  Zachary W. Carter, Esq.
Dorsey & Whitney LLP / New York, NY
5:00 pm Evaluations and Adjourn

Tuition

Regular tuition for this program is $795 with a group rate of $720 each for two or more registrants from the same firm. For government employees, we offer a special rate of $645. For students and people in their job for less than a year, our rate is $397.50. All rates include admission to all seminar sessions, lunch, food and beverages at breaks, and all course materials. Make checks payable to Law Seminars International.

Cancellation & Substitution

You may substitute another person at any time. We will refund tuition, less a $50 cancellation fee, if we receive your cancellation by 5:00 p.m. on Tuesday, May 1, 2007. After that time, we will credit your tuition toward attendance at another program or the purchase of a homestudy. There is a $25 cancellation fee for Course Materials orders and $50 for Homestudy orders.

Continuing Education Credits

New York CLE credits are pending. Upon request, we will apply for CLE credits in other states and other types of credits.

Location

The workshop will be held at the The Yale Club of New York City at 50 Vanderbilt Avenue in New York, NY 10017 US. Call the hotel directly at (212) 716-2100 for reservations at the special negotiated rate of $249 and mention that you are attending a Law Seminars International workshop. The negotiated rate is good through April 6th only; please make your reservations before that time. Rooms are on a first come, first served basis.
More about the Location
Map & Directions

If You Cannot Attend

Our complete Homestudy Course, consisting of a VHS or DVD recording and the written course materials, is available for $805. The written course materials alone are available for $100. We will ship your homestudy order via UPS ground within two weeks after the seminar or the date we receive payment (whichever is later).
Order Homestudy

Faculty Bios

Stewart D. Aaron, Program Co-Chair, is a partner with Arnold & Porter LLP where he practices commercial litigation with an emphasis on securities law matters. His practice involves the representation of clients in litigated matters in state and federal courts and before regulatory bodies and self regulatory organizations. He was named a New York "Super Lawyer" for Business Litigation in 2006.

Atreya "Chuck" Chakraborty, Program Co-Chair, is an Assistant Professor of Finance at the University of Massachusetts Boston. He has expertise in economics and finance, and specializes in the economics of antitrust and intellectual property. Dr. Chakraborty has advised clients on antitrust issues regarding price fixing, collusion, and exclusionary practices. His intellectual property assignments include damage estimates from patent infringement in the telecommunications, offshore oil drilling and the pharmaceuticals industries.

Arthur H. Aufses, partner, Kramer Levin Naftalis & Frankel LLP, is a commercial litigator who defends securities and class action lawsuits, conducts internal corporate investigations into accounting and related issues, and counsels corporate officers on securities and other potential liabilities.

James Bohn is a Principal with UHY Advisors' Forensic, Litigation & Valuation Services practice. He focuses on securities and financial institutions, valuation, and commercial damages. His experience includes developing models for estimating damages in securities class actions, the analysis of accounting and financial statement fraud, and the formulation of legal strategy concerning of damage claims.

Lynda S. Borucki, Principal, The Brattle Group, is a financial economist specializing in the application of corporate finance, economics and accounting in securities and commercial litigation matters. Her work includes analysis of damages, valuation and regulation in a wide variety of industries.

Leslie R. Caldwell is a partner in the Litigation Practice of Morgan, Lewis & Bockius LLP and co-chair of its Corporate Investigations and White Collar Practice. She concentrates on internal investigations and defense of companies and individuals accused by the government of involvement in white collar crime, SEC or other civil regulatory violations, and other crises. She leads a national Morgan Lewis team that includes many former prosecutors with extensive experience in major white collar matters.

Zachary W. Carter, Dorsey & Whitney LLP, is a partner in the Trial, Regulatory and Technology Group and co-chair of the White Collar Crime and Civil Fraud Practice Group. Mr. Carter practices in white collar criminal defense, complex civil litigation, representation of government regulated industries, representation of government contractors and securities class action litigation.
Full bio and contact info for Zachary W. Carter at Dorsey & Whitney LLP

Jeffrey W. Golan, a partner with Barrack, Rodos & Bacine, has been BR&B's primary attorney in many major securities fraud cases throughout the country. Among others, he served as BR&B's lead trial attorney in the WorldCom and Cendant securities fraud class actions, and is currently the lead attorney on several derivative actions involving stock option backdating claims.

Robert J. Keyes is Assistant Regional Director, Northeast Regional Office, for the U.S. Securities and Exchange Commission. He has been on the staff of the SEC since 1996, first in the Commissionís headquarters in Washington, DC, and since 2002 in the NE Regional Office in New York City, where he became an assistant director in April 2005. Prior to his time with the Commission, he was a partner with the Washington, DC law firm Comey Boyd & Luskin.

Michael Moscato is a partner with Curtis, Mallet-Prevost, Colt & Mosle LLP, in the Litigation Department. He was co-lead counsel for Arthur Andersen LLP in the recently concluded WorldCom class action trial and has represented Arthur Andersen LLP and its audit personnel in numerous significant matters, including the WorldCom litigation.

Thomas M. Skelton is a shareholder with Lowey Dannenberg and specializes in complex litigation with emphasis on securities fraud, corporate governance and statutory appraisal cases. His practice involves the representation of clients in litigation and arbitration, in state and federal courts, and before self-regulatory organizations.

Jay Kelly Wright is a partner with Arnold & Porter LLP and a member of the Securities Enforcement & Litigation, Business Torts & Professional Liability, and Litigation Practice Groups. His practice focuses on civil litigation in federal and state courts and proceedings and investigations by government agencies, with a concentration on administrative, constitutional, commercial, products liability, professional liability and securities law.

Firm Links

Dorsey & Whitney LLP