This course, taught by securities litigators from BakerHostetler and the Vice President of NERA Economic Consulting, provides an overview of how securities class action law has evolved over the past year. The attorneys discuss the new arguments plaintiffs and defendants will be making regarding the substance of claims and class certification, as well as how parallel proceedings and fee-shifting provisions can impact these lawsuits.
I. Become current on the state of the law regarding “price impact” evidence in securities fraud class actions, including the increasing importance of expert witnesses, after Amgen and Halliburton II
II. Learn to what extent statements of opinion can lead to liability under section 11 of the Securities Act of 1933 following Omnicare
III. Understand how courts are analyzing ERISA stock-drop class actions and the “presumption of prudence” under the Supreme Court’s decision in Dudenhoeffer
IV. Consider the potential impact of federal versus state jurisdiction and pleading and proving class-wide damages in securities class action
V. Recognize the concerns and issues raised by parallel governmental investigations and proceedings, including those by the SEC, DOL and DOJ, and their impact on defending the class action
VI. Further understand how corporations may try to utilize fee-shifting provisions that place the cost burden on challenging shareholders
Having practiced in securities regulation, litigation, and enforcement for more than 30 years, Marc Powers has developed a deep understanding of the legal, business and regulatory environments surrounding his clients. He is regularly engaged in high profile matters including complex securities litigation and arbitration, with his practice expanding to cover bankruptcy litigations as well. His combination of experience and knowledge has provided Marc with the well-earned confidence to aggressively, yet deliberately, act on behalf of his diverse client base. In the hedge fund industry, Marc possesses the flexibility to address each client concern and circumstance individually, providing proactive support throughout all aspects of fund operation, from inception to regulatory compliance to unavoidable litigations.
Marc has led the national Securities Litigation and Regulatory Enforcement practice team since 2004 and leads the national Hedge Fund Industry group. He is regularly invited to speak at premier conferences for the securities industry and appears regularly in the media commenting on the SEC, insider trading cases, and the JOBS Act.
Deborah Renner focuses her practice on complex commercial litigation, consumer fraud, false advertising, data breach, ERISA, and securities class actions. Deborah has successfully represented numerous companies in nationwide, multidistrict and state class actions. Deborah frequently advises companies on class action issues and regulatory inquiries. Among her areas of knowledge and experience, Deborah is certified in information privacy.
Jessie Gabriel is a sharp and experienced litigator in the fields of securities litigation and class actions. She also counsels high-tech and energy companies faced with unfair competition and securities claims. Jessie takes a holistic approach to her practice by providing her clients with top-notch litigation skills, and by working closely with her colleagues in BakerHostetler’s Securities, Corporate Governance, and Data Privacy groups to help anticipate and prevent issues that can lead to securities litigation. She speaks regularly on the changing landscape of securities litigation and how it is increasingly intersecting with other fields of law. Jessie is co-chair of the M&A/Proxy Litigation Subcommittee of the ABA's Securities Litigation Committee and was appointed to the Administrative Law Committee of the New York City Bar Association.
Jessie believes that management skills are just as important as substantive legal knowledge. Drawing from her previous career in economics, she demands strong project management and efficient, cost-effective utilization of resources in all of her cases. Jessie has a natural ability to execute a legal strategy while coordinating large teams of attorneys and outside vendors, most notably in her representation of Irving H. Picard, the Trustee for the global liquidation of Bernard L. Madoff Investment Securities LLC. She has managed the Trustee’s claims against Madoff’s largest hedge fund investor and his primary banker. Jessie co-chairs the Women’s Steering Committee for the New York office.
Experience Securities Litigation
Class Action Litigation
American Bar Association
New York City Bar Association
New York State Bar Association
California State Bar Association
David McMillan is an Associate in the firm’s litigation group whose practice centers on class action defense, securities litigation, bankruptcy and other types of general commercial litigation. David has worked extensively on a number of high profile fraud cases involving the financial industry, including representation of the SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC. As part of the SIPA Trustee’s team advancing the global effort to trace and recover assets for Madoff’s defrauded customers with allowed claims, David has deconstructed BLMIS’s books and records, initiated multimillion-dollar lawsuits against financial institutions, funds and other sophisticated investors in the United States and abroad, and litigated a range of issues in securities and bankruptcy law. David also defends clients in significant securities-related government investigations and securities fraud class actions, including a high-profile matter arising from derivatives trading losses at a major international bank. David has spoken on a number of panels discussing cutting edge issues in class action law, and writes frequently on current trends in class action and securities litigation. David considers himself a strategy-driven, creative litigator who aims to deliver cost-effective and meaningful solutions for his clients.
Dr. Jordan Milev is a Vice President in NERA’s Securities and Finance Practice and the White Collar, Investigations and Enforcement Practice. He has submitted testimony as an expert witness in numerous matters, having been retained by plaintiffs and defendants in both civil and criminal actions. He has assisted clients at all stages of litigation, including mediation and trial.
Dr. Milev’s extensive international experience includes directing and supervising analyses in numerous cross-border disputes involving companies domiciled in Austria, Canada, Germany, India, Russia, Switzerland, and The Netherlands. His expertise includes economic analyses relevant to securities class actions, corporate internal investigations and regulatory actions, criminal securities fraud actions, shareholder activism disputes, private commercial litigation, and arbitrations.
Areas of specialty include:
Dr. Milev is a frequent speaker and subject matter expert at industry and academic conferences and at events providing CLE credits for attorneys. He publishes and presents in the areas of covered bonds and fixed income securities, securities litigation trends, the quantitative analysis of settlements, litigation insurance coverage, and assessing economic exposure in cybersecurity and data breach cases.
Dr. Milev holds a PhD in economics from Yale University. His doctoral dissertation developed an automated computer learning system used to analyze big data sets of stock price reactions following company earnings announcements. He has also taught sections of microeconomics and econometrics courses at Yale University. He holds a BA in economics and mathematics, summa cum laude with Distinction in economics, from Amherst College.
Dense with relevant information. Very helpful.
All of the speakers/presenters were very well prepared. It is a special area of the law and the presentation helped me understand the law better.
Thanks for info on how Scalia’s death affects cases
One of the best I've seen yet!
Nice balance of expertise.
Definitely one of the better lawline courses I've seen.
good topic to break up with a panel
Excellent panel and programs
Great coverage of securities class actions and investigations
A comfortable crew with a great grasp of the subject matter.
very good. could be expanded to go more in depth.