Once again, here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.

For the full list, please go here.

As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of this blog.

Year End Securities Litigation Review

January 22, 2010
Webinar

Highlights:

* Analysis of newly filed cases and settlements in 2009
* Assessing the larger implications for underwriters, brokers and risk managers.

No brochure is available, but for more details, visit the webinar registration page.

Contests for Corporate Control 2010: Current Offensive & Defensive Strategies in M & A Transactions

February 4, 2010
PLI New York Center - New York, New York

Highlights:

* Director Fiduciary Duties in M&A Transactions
* Director's personal liability in M&A transactions
* Communicating with shareholders in M&A transactions
* Corporate Governance and Its Effect on the Board of Directors in M&A Transactions

No brochure is available, but for more details, visit the conference registration page.

International Jurisdiction Issues Arising from the Madoff Scandal

February 24, 2010
Teleconference

Highlights:

* Status of the cases filed to date against the feeder funds
* Enforcement issues involving investors and feeder funds abroad
* Clawback related issues and new standards for filing claims

No brochure is available, but for more details, visit the teleconference registration page.

Professional Liability Insurance

March 24-25, 2010
The Carlton Hotel - New York, New York

Highlights:

* Evaluating the Impact of the Credit Crisis on the E&O Market
* The State of the Professional Liability Marketplace
* Madoff scandal impact on the E&O landscape now and in the future

The conference brochure is available here, or for more details, visit the conference webpage.

Investment & Pensions Europe's Nina Röhrbein has presented some highlights from last week's TBLI conference in Amsterdam. She quotes RiskMetrics Group's Ran Fuchs, who asked why, historically, environmental, social and governance (ESG) research has primarily focused on equities, rather than fixed-income assets.

Mr. Fuchs' question is about investment horizon, as ESG investment is long-term investment. In considering extra-financial metrics of corporate value, ESG investors act on their skepticism about short-term indicators, like share prices or quarterly returns. As ESG research can uncover longer-term risks and opportunities, Mr. Fuchs believes, its practitioners should apply its lessons to assets with longer time horizons.

"Debt is Vital to the Survival of a Company"

His comments, from the IPE report:

"Fixed income investments last for 10 to 15 years or even longer, so any type of long-term ESG investments should be going straight to debt." … "The short-term performance of such investments should easily convince investors that there is value in this. But the impact on the industry can also be much stronger through fixed income because, while the price of the equities is relevant, the cost of debt and financing is absolutely vital to the survival of the company."

In citing a desire for "impact on the industry," Mr. Fuchs affirms that engagement – or "lobbying the corporation" – remains a priority for the ESG sector. As bondholders, he suggests, investors could help reorient corporate thinking in a more sustainable direction.

Moving Minds with Markets

"Sustainability" is a buzzword that can obscure as much as it explains. A company that sustains a healthy balance sheet may use resources – natural and human – in an unsustainable way.

The ambiguity of "sustainability" hints at why the ESG sector – of which KLD was an early member, and to which RiskMetrics has made a strong commitment – describes its work as "integration."

Within the financial services community, we seek to integrate extra-financial factors into mainstream analysis. For the economy as a whole, we work towards the integration of environmental, social and governance concerns into mainstream corporate management.

From this perspective, financial instruments are only means to an end. We argue that business can only create as much value as the community and environment can sustain. This perspective demands a philosophical shift – a change in managers, not just markets.

Thinking 'Round the Bend

This change has already begun. Tom Konrad at Seeking Alpha recently posted a revealing exchange with Ray Anderson, head of carpet maker Interface:

"Q: In your experience, how does the financial community view corporate sustainability? Does anyone outside of the Socially Responsible Investment community care? Have you encountered much skepticism? Ray Anderson: In the early days of our journey, we definitely experienced skepticism from the financial community. In fact, our former CFO Dan Hendrix (who is now the Interface CEO) was asked on more than one occasion if I had "gone 'round the bend." I explained that as a leader, that was my job, because 'round the bend is where our future lies. … Q: How does sustainability help returns for investors and over what time horizon? Ray Anderson: As with any new thinking there's a time lag between early adoption and mainstream acceptance, and that naturally influences the return horizon for investment in new products, processes and technologies. I believe there are new fortunes to be made as we define this, the next industrial revolution. I also believe that part of what needs to change is our focus on short time horizons, i.e., the focus on the next quarter, for both companies and for their investors. Sustainability by its very nature requires a long view on the future as we consider the impact of our decisions today on future generations."

Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.

For the full list, please go here.

As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of this blog.

15th Annual Advanced Forum on D&O Liability

November 30 - December 1, 2009
The Carlton - New York, New York

Highlights:

* Newest trends and developments arising from the wave of securities litigation and how they are impacting D&O coverage and claims
* Harmonizing your company's D&O policies with SEC regulations to avoid conflict
* Assessing how the recent credit crisis is affecting the D&O landscape, and preparing for the rising tide of litigation and class actions

The conference brochure is available here, or for more details, visit the conference webpage.

Madoff Class, Derivative & Insurance Litigation Conference

December 2, 2009
Conference Center - New York, New York

Highlights:

* Ponzi Schemes – Causes of Action and Claims Alleged
* Financial Institutions and Crime Policies - Who is being sued? Who might be sued?
* Financial Institutions & Fidelity bonds

The conference brochure is available here, or for more details, visit the conference webpage.

New Developments in Securitization 2009

December 3 - 4, 2009
PLI New York Center-New York, NY

Highlights:

* Developments in CDO and other RMBS-related litigation and forecasts of future CDO litigation trends
* Issues affecting trustees in RMBS loan repurchase obligations
* Resolving disputes between CDO tranches

No brochure is available, but for more details, visit the conference registration page.

Sad as it is for us to admit at SLW World Headquarters, the fleeting days of summer are quite numbered at this point, which means that conference and webcast season is upon us!

Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.

For the full list, please go here.

As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of this blog.

The Madoff Ponzi Scheme: Bankruptcy, Class Action & Derivative Litigation

September 22, 2009
Teleconference

Highlights:

* SLUSA and Martin Act issues
* The future of 10b-5 class actions after South Cherry (In re Bayou)
* Special problems posed by feeder fund liquidations

No brochure is available, but for more details, visit the teleconference registration page.

Securities Litigation & Enforcement Institute 2009
Sept. 29, 2009
PLI New York Center - New York, New York

Highlights:

* How the courts are applying Stoneridge's rejection of "scheme liability"
* Criminal investigation and prosecution of securities violations
* Developments in auditor liability

No brochure is available, but for more details, visit the conference registration page.

Class Actions & Mass Actions: Class Action Fairness Act (CAFA), Class Arbitration, and Securities Update
Oct., 8, 2009
Teleconference

Highlights:

* The impact of recent Supreme Court pleading cases (Twombly and Iqbal) on class actions
* Recent developments in securities and antitrust class actions
* Propriety of review on the merits by courts asked to certify a class under Rule 23 Class Action in the arbitration context

No brochure is available, but for more details, visit the teleconference registration page.

Securities Litigation & Enforcement Institute 2009
Oct. 15-16, 2009
Ritz Carlton - Washington, DC

Highlights:

* Reserve Accounting Cases – They're Back
* The Impact of Bloggers and E-Media on Securities Fraud Investigations and Prosecutions
* Extraterritorial Jurisdiction/Venue over Companies and Individuals

The conference brochure is available here, or for more details, visit the conference webpage.

Securities Litigation & Enforcement Institute 2009
Oct. 15, 2009
PLI California Center - San Francisco, California

Highlights:

* Strategies for prosecuting and defending the securities fraud class action
* The latest on Corporate Governance Litigation
* Case Management and Settlement Issues in Securities Litigation

No brochure is available, but for more details, visit the conference registration page.

The 13th Annual National Institute on Class Actions
Oct. 30, 2009
InterContinental Hotel - San Francisco, California

Highlights:

* A Survival Guide for Today's Class Action Settlements
* New Developments in Class Actions with Professor John C. Coffee
* Developments in the Law of Class Certification

The conference brochure is available here, or for more details, visit the conference webpage.

Adam Cohen, writing in the New York Times, recently called attention to a Supreme Court case that "could open the floodgates to corporate money in politics." He notes that since 1907, federal law has banned corporate contributions to political candidates. In September, the Court will hear arguments in Citizens United v. Federal Election Commission. Mr. Cohen writes:

"The court has gone to extraordinary lengths to hear the case. And there are worrying signs that there may well be five votes to rule that the ban on corporate contributions violates the First Amendment."

This case could have profound effects on sustainable/socially responsible investing (SRI) and the corporate social responsibility (CSR) movement.

If the Supreme Court holds that a corporation has a First Amendment right to contribute to candidates, does it have the duty to do so to protect the interests of the corporate person? How might shareholders affect the corporate decision to contribute to political candidates?

First National Bank v. Bellotti (1977) found companies had a First Amendment right to put money into referenda and other efforts to alter public opinion. So in the context of Burger-Rehnquist-Roberts (the Nixon-Bush II Courts) precedents on corporate powers, the result Mr. Cohen fears is a relatively small step. It is only radical when one takes a longer perspective, maybe even an originalist constitutional perspective....

Mr. Cohen on the irony of the Court's position:

"If the conservative justices strike down the ban, they would be doing many things they disavow. They would be substituting their own views for the will of the people, expressed through Congress. They would be reading rights into the Constitution that are not expressly there, since the Constitution never mentions corporations or their right to speak. And they would be overturning the Court's own precedents."

In any event, this is a case to watch. It is not too early to think about suitable responses.

On July 21, 2009, I will be participating in a webcast entitled "Securities Litigation Issues Facing Institutional Investors." The webcast will examine the fiduciary duties of institutional investors and discuss significant topics, including:

* Monitoring the portfolio: When and why you would want to be a lead plaintiff;

* Don't leave money on the table: Filing claim forms in settled cases to recover losses;

* Opting in: Navigating the waters of non-US securities litigation; and

* Opting out: When does it make sense to leave the safety of the class action and pursue an individual case.

I will be joined by Wayne Schneider, General Counsel of the New York State Teachers' Retirement System and Sal Graziano, a partner with Bernstein Litowitz Berger & Grossmann LLP. The webcast will be moderated by Bruce Carton, the editor of Securities Docket.

To register for this free webcast (7/21/09 11:00 am EDT), please use this link.

Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.

For the full list, please go here.

As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of this blog.

Credit Crisis Coverage Claims: Most Likely Problems to Hit the Insurance Industry Due to Credit Market Losses

July 21, 2009
Teleconference

Highlights:

* Duty to defend vs. duty to reimburse and related issues
* Settlements and Issue of Consent to Settlements
* Exclusions: Fraud and Dishonesty; Prior Acts; Personal Profit; Insured v. Insured; and "Related" Claims

No brochure is available, but for more details, visit the teleconference registration page.

Securities Arbitration in the Market Meltdown Era: Achieving Fairness in Perception and Reality

Aug. 12, 2009
PLI New York Center - New York, New York

Highlights:

* The impact of the recession on the viability, presentation and defense of securities arbitration cases
* Establishing legal claims for "holders" of securities that fall in value after purchase
* What Do Arbitrators and Mediators Want?

No brochure is available, but for more details, visit the conference registration page.

Madoff International Feeder Fund Litigation

August 27, 2009
Teleconference

Highlights:

* Dealing with Extraterritorial Jurisdictional Issues When Filing Against International Feeder Funds and Related Clawback Issues
* Do U.S. Courts have jurisdiction? If so, when and what is the standard for deciding?
* Status of the cases filed to date against the feeder funds, including any cases involving international players such as Optimal and Banco Santander SA

No brochure is available, but for more details, visit the teleconference registration page.

Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.

For the full list, please go here.

As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of this blog.

Mortgage Servicing Litigation and Legislation

May 21, 2009
Teleconference

Highlights:

* The Bondholder Class Action against Countrywide
* Mortgage Cramdowns in Bankruptcy
* The Role of the Master Servicer in a Securitization

No brochure is available, but for more details, visit the teleconference registration page.

The Recent Debt Crisis and How It's Affecting FINRA Arbitration

June 2, 2009
Teleconference

Highlights:

* The kinds of cases, claims and clients that benefit from FINRA, and those that don't
* The new suits and new litigants arising out of the debt crisis
* How FINRA rules work and panel structure variations under FINRA arbitration
* The pros and cons of using FINRA arbitration
* The perceptions of fairness in FINRA arbitration

No brochure is available, but for more details, visit the teleconference registration page.

Class Action Litigation 2009: Prosecution and Defense Strategies

July 9 - 10, 2009
PLI New York Center, New York, NY

Highlights:

* How to strategically litigate the class certification motion
* The important role of mediation in class actions
* Considerations and strategies on settlement

No brochure is available, but for more details, visit the conference registration page.

Apple said yesterday it would hold an annual advisory vote on executive pay in 2010 after a shareholder proposal on that topic won majority support for the second year in a row.

Apple is the fifth U.S. company this year where a "say on pay" shareholder proposal has earned a majority of the votes cast "for" and "against," according to RiskMetrics Group data. Similar resolutions have obtained majority backing at Pfizer, Edison International, Hain Celestial, and Lexmark International.

Apple announced the policy change in a press release, in which the company reported that a proposal filed by the American Federation of State, County, and Municipal Employees received 51.6 percent support at the technology company's Feb. 25 annual meeting. Apple originally reported that the resolution was defeated because it counted abstentions as "no" votes. The company said the mistake was "due to human error." In 2008, an AFL-CIO "say on pay" proposal received 50.7 percent support.

"The Compensation Committee of Apple's Board of Directors has been closely following the Say on Pay issue, and anticipates that new laws or regulations will require some form of Say on Pay vote at all public companies in the near future. Even if that does not occur, Apple is committed to implementing an advisory Say on Pay vote next year," the Cupertino, Calif.-based company said in the press release.

In 2007, six directors received opposition ranging from 23 percent to 36.8 percent after Apple announced a $105 million restatement to account for misdated stock options. The Securities and Exchange Commission also investigated Apple and sued two former company officials.

Apple is the 22nd U.S. issuer to voluntarily agree to hold an advisory vote, according to RiskMetrics data. In addition, several hundred financial firms that receive support from the Treasury Department's Troubled Asset Relief Program are required to hold pay votes this year. Governance observers and activist investors expect that Congress will approve legislation this year to require all listed companies to hold pay votes.

An annual vote on compensation is one of the requirements in the wide-ranging "Shareholder Bill of Rights of 2009" legislation that U.S. Senator Charles Schumer of New York plans to introduce soon.

Schumer is circulating a "dear colleague" letter to his fellow senators in which he asks them to consider co-sponsoring the bill. According to Schumer's letter, the legislation would confirm the authority of the SEC to issue a proxy access rule to enable investors to nominate board candidates. The bill would also require issuers to: obtain shareholder approval for "golden parachute" packages; declassify their boards and hold annual elections where directors would have to earn a majority of votes cast; separate the positions of CEO and board chair; and appoint a separate risk committee.

Carl Icahn is practicing what he preaches.

American Railcar Industries, which is controlled by Icahn, will ask its investors on June 10 to approve moving the company's corporate home from Delaware to North Dakota.

Shareholder approval is not in question since Icahn, who serves as chairman, and other directors own 56.7 percent of the Missouri-based company. American Railcar would become the first public company to reincorporate in North Dakota and agree to be subject to the state's novel corporate governance law, which was passed in 2007 after a lobbying campaign that Icahn supported. The billionaire investor has said he pushed for the law to provide an alternative to Delaware, where more than 60 percent of large-cap U.S. companies are incorporated. Icahn has complained that Delaware laws and courts unduly favor management interests in disputes with shareholders.

The North Dakota law requires firms to provide a wide range of shareholder-friendly governance provisions, such as proxy access, an independent board chair, a declassified board, limits on poison pills, and an annual advisory vote on compensation. In a preliminary proxy filing, American Railcar asserts that a move to North Dakota will give investors more rights while reducing the firm's franchise taxes.

Icahn also has filed a North Dakota reincorporation proposal at Amylin Pharmaceuticals, where he has a 9.2 percent stake and is waging a proxy fight at the company's May 27 meeting. In addition, individual investors have filed similar proposals at 17 other firms this year. These resolutions will be on the ballot at Sempra Energy on April 30, Amgen on May 6, and at PG&E and Qwest Communications on May 13. So far, those proposals have averaged 6 percent support at three companies, according to RiskMetrics Group data.