Strategies for Pursuing and Defending Claims Against Broker–Dealers
***Dozens of Lawsuits and Arbitrations Filed Since March; SEC, FINRA and State AGs Launch Investigations***
CD of Teleconference with Q&A
Click here for program outline
Conducted on Wednesday, July 9, 2008
Now available on CD
Sponsored by the Legal Publishing Group of Strafford Publications
Investors in auction-rate securities are increasingly filing lawsuits and pursuing arbitration against broker–dealer companies that sold them the products, alleging the companies deceived them into believing that auction-rate securities were liquid investments that could be quickly sold.
Additionally, the government is aggressively investigating the auction-rate securities business of many broker–dealer companies. Auction-rate securities were a $330 billion market that collapsed in February amid the credit market crisis.
The lawsuits raise issues of fraud, failure to disclose and conflict of interest. Obtaining class certification and proving damages will be difficult for investors. It is critical that counsel for investors and broker–dealers prepare a solid litigation strategy for prevailing in the lawsuits.
Listen as our panel of attorneys — representing both investors and broker–dealers — reviews the status of government enforcement efforts and the pending lawsuits and offers counsel best practices for prevailing in claims.
The panel included:
Robert Stern, Partner, O'Melveny & Myers, Washington, D.C. He is a litigator with extensive experience litigating major state and federal actions. He has particular experience in securities class action cases.
Daniel C. Girard, Managing Partner, Girard Gibbs, San Francisco. He has successfully prosecuted over 75 class action matters. He coordinates the securities, antitrust and consumer legal matters handled by the firm.
The panel reviewed these and other key questions:
- What is the basis for legal claims regarding auction-rate securities?
- What challenges will investors' counsel face in obtaining class certification for auction-rate securities cases?
- What strategies can investors' and broker–dealers' counsel employ to prevail in auction-rate securities claims?
- How are government agencies addressing the allegations against broker–dealer companies?
TELECONFERENCE CD
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