Collateralized Debt Obligation Litigation on the Rise
Strategies for Investors, Issuers and Trustees to Pursue and Defend CDO Claims
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, March 18, 2010
Recorded event now available
This CLE webinar will offer guidance to counsel for issuers, investors and trustees, who are defending, bringing or entangled in lawsuits alleging issuer fraud in concealing the risks of investing in collateralized debt obligations. The panel will review recent CDO litigation and discuss strategies for resolving claims.
Description
Investors in collateralized debt obligations (CDOs) are increasingly filing lawsuits against issuers, structuring agents, brokers, collateral managers, trustees and credit default swap partners alleging the defendants fraudulently concealed the risks of investing in CDO transactions.
CDOs, once a multi-billion dollar market, collapsed amid the credit market crisis. As of early 2009, half of all CDOs issued since 2002 were in default. Recent statistics show that one third of all defaulting CDOs are currently in liquidation.
CDO lawsuits raise issues of fraud, negligent misrepresentation, breach of fiduciary duty, breach of contract and consumer protection law violations, among other theories. Counsel for investors, issuers and trustees must prepare a solid litigation strategy for prevailing in lawsuits.
Listen as our panel of corporate finance attorneys provides an overview of recent litigation involving CDOs and provides strategies for investors, issuers and trustees for prevailing in claims.
Outline
- Recent litigation trends
- Overview of credit crisis-related litigation
- Typical participants in CDO litigation
- Common claims and allegations
- Damages sought
- Strategies for resolving lawsuits
- Investor plaintiff perspective
- Issuer/agent/broker defendant perspective
- Trustee perspective
Benefits
The panel will review these and other key questions:
- What are the bases for legal claims regarding collateralized debt obligations?
- What challenges do investors' counsel face in pursuing CDO claims?
- What strategies can issuers' and trustees' counsel employ to prevail in CDO claims?
Faculty
Amelia M. Charamba,
Partner
Nixon Peabody, Boston
Her finance and securities practice is focused on the representation of financial institutions engaged in trustee, agency, and custody services to the capital markets. She has extensive experience representing and advising corporate trustees in the closing of various corporate trust product lines, such as structured finance transactions, as well as traditional corporate debt transactions.
Zachary D. Rosenbaum,
Partner
Lowenstein Sandler, New York
He co-chairs the firm's Capital Markets Litigation group. He has developed a specialty in litigating actions on behalf of institutional investors, both foreign and domestic, involving collateralized debt obligations (CDOs) and credit default swaps, among other derivative and structured transactions.
Glenn S. Arden,
Partner
Jones Day, New York
He is experienced in the representation of issuers, sponsors, sellers, underwriters, liquidity and credit providers, servicers, derivative providers, investors, and rating agencies in connection with the issuance of asset-backed and mortgage-backed securities and cash, hybrid, and synthetic CDOs. He has been a frequent speaker on securitization and derivatives.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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Customer Reviews
Very timely. I also liked the references to current and recent suits.
John Devlin
Lane Powell
Very well-organized.
Kerin Coughlin
Constantine Cannon
The webinar provided good practical advice.
Peter Bado
Thrivent Financial
Very good. Gave me exactly what I wanted. The questions I emailed in were handled thoroughly.
James J. Long
Briggs & Morgan
Very concise - provided what was needed, yet also included many examples, thoughts and ideas.
Ron Keith
Skilled Care
Finance Law Advisory Board
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers
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