merle kovtun, et al. v. vivus, inc., et al. 10-cv-04957-declaration...

Case4:10-cv-04957-PJH Documentl 1 Fileddl /03/11 Pagel of 4

1 MILBERG LLPJEFF S. WESTERMAN (SBN 94559)

2 [email protected] M. DUCKETT (SBN 198168)

3 [email protected] California Plaza

4 300 South Grand Avenue, Suite 3900Los Angeles, California 90071

5 Telephone: (213) 617-12006 Facsimile: (213) 617-1975

Counsel for John Ingram and7[Proposed] Liaison Counsel for the Class

8BROWER PIVEN

9 A Professional CorporationDAVID A.P. BROWER

10 [email protected] Madison Avenue

11 Eighth FloorNew York, New York 10022

12 Telephone: (212) 501-9000Facsimile: (212) 501-0300

13Counsel for John Ingram and

14 [Proposed] Lead Counsel for the Class

15 UNITED STATES DISTRICT COURT

16 NORTHERN DISTRICT OF CALIFORNIA

17 MERLE KOVTUN, individually and on behalf) No. 4:10-cv-04957-PJHof all others similarly situated,

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) CLASS ACTION Plaintiff,

19 ) DECLARATION OF JEFF S. WESTERMANvs. ) IN SUPPORT OF JOHN INGRAM'S

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) MOTION FOR APPOINTMENT OF LEADVIVUS, INC., LELAND F. WILSON, and ) PLAINTIFF AND APPROVAL OF

21 WESLEY W. DAY PH.D., ) SELECTION OF COUNSEL

22 Defendants. ) DATE: February 9, 2011) TIME: 9:00 a.m.

23 ) CTRM: 3 ) JUDGE: Hon. Phyllis J. Hamilton

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Declaration of Jeff S. Westerman In Support of John Ingram's Motion for Appointment of Lead Plaintiffand Approval of Selection of Counsel — Case No. 4:10-cv-04957-PJH

Case4:10-cv-04957-PJH Document11 Filed01 /03/11 Page2 of 4

1 I, JEFF S. WESTERMAN, declare as follows:

2 I am over 18 years of age and am competent to testify to the matters and facts hereinafter

3 set forth. I am a partner with the law firm Milberg LLP, counsel for John Ingram and proposed

4 liaison counsel for the Class in the Action. I make this declaration in support of John Ingam's

5 Motion for Appointment of Lead Plaintiff and Approval of Selection of Counsel. I have personal

6 knowledge of the matters stated herein and, if called upon, I could and would competently testify

7 thereto.

8 Attached are true and correct copies of the following exhibits:

9 Exhibit A: Sworn Plaintiff's Certification of John Ingram;

10 Exhibit B: Schedule of Transactions and Losses based on information provided byJohn Ingram reflecting Class Period losses incurred by John Ingram as a

11 result of his investment in Vivus, Inc. securities;

12 Exhibit C: Notice of pendency of class action published on Market Wire, a nationalbusiness-oriented wire service, on November 3, 2010;

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14Exhibit D: Brower Piven, A Professional Corporation, firm résumé; and

Exhibit E: Milberg LLP firm résumé.15

16 I declare under penalty of perjury under the laws of the United States of America that the

17 foregoing is true and correct. Executed this 3rd day of January 2011, at Los Angeles, California.

18/s/ Jeff S. Westerman

19 JEFF S. WESTERMAN

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28Declaration of Jeff S. Westerman In Support of John Ingram's Motion for Appointment of Lead

laintiff and Approval of Selection of Counsel — Case No. 4:10-cv-04957-PJH - 1 -

Case4:10-cv-04957-PJH Document11 Filed01/03/11 Page3 of 4

1 DECLARATION OF SERVICE BY CM/ECF AND/OR MAIL

2I, the undersigned, declare:

31. That declarant is and was, at all times herein mentioned, employed in the County

4of Los Angeles, over the age of 18 years, and not a party to or interest in the within action; that

5declarant's business address is One California Plaza, 300 South Grand Avenue, Suite 3900, Los

6Angeles, California 90071-3149.

72. Declarant hereby certifies that on January 3, 2011, declarant served the

8DECLARATION OF JEFF S. WESTERMAN IN SUPPORT OF JOHN INGRAM'S MOTION

9FOR APPOINTMENT OF LEAD PLAINTIFF AND APPROVAL OF SELECTION OF

10COUNSEL by electronically filing the foregoing document listed above by using the Case

11Management/ Electronic Case filing system.

123. Declarant further certifies:

13n All participants in the case are registered CM/ECF users and that service will be

14accomplished by the court's CM/ECF system

15Z Participants in the case who are registered CM/ECF users will be served by the

16court's CM/ECF system. Participants in the case that are not registered CM/ECF users will be

17served by First-Class Mail, postage pre-paid or have dispatched to a third-party commercial

18carrier for delivery to the non-CM/ECF participants as addressed and listed below:

19Michael L. Charlson Howard S. Caro

20 Norman J. Blears HOGAN LOVELLS US LLP

21 HOGAN LOVELLS US LLP 4 Embarcadero Center 22nd Floor525 University Avenue 4th Floor San Francisco, California 94111

22 Palo Alto, California 94301 P: 415.374.2300P: 650.463.4000 F: 415.374.2499

23 F: 650.463.4199 [email protected]

[email protected]@hoganlovells.com

25 4. That there is a regular communication by mail between the place of mailing and

26 the places so addressed.

27 5. That on the above date, declarant served via e-mail to: [email protected] .


laintiff and Approval of Selection of Counsel— No. 4:10-cv-04957-PJH

Case4:10-cv-04957-PJH Document11 Filed01/03/11 Page4 of 4

1 I declare under penalty of perjury that the foregoing is true and correct. Executed this 3rd

2 day of January, 2011, at Los Angeles, California.

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5CECILLE CHA INS

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laintiff and Approval of Selection of Counsel— No. 4:10-cv-04957-PJH

Case4:10-cv-04957-PJH Documentl 1-1 Filed01/03/11 Pagel of 3

EXHIBIT A

Case4:10-cv-04957-PJH Document11-1 Filed01/03/11 Page2 of 3

PLAINTIFF'S CERTIFICATION

o /IA/ L.,,,,,477 ("Plaintiff') declares that:

1. I have reviewed the first filed complaint in the VIVUS Inc, Securities Litigation and

adopt, and would authorize the filing of, that complaint,

2. Plaintiff did not purchase the security that is the subject of this action at the direction of

plaintiff's counsel or in order to participate in this private action.

3. Plaintiff is willing to serve as a representative party on behalf of the class, including

providing testimony at deposition and trial, if necessary, arid Plaintiff is willing to serve as a lead plaintiff

either individually or as part of a group, a lead plaintiff being a representative party who acts on behalf of

other class members in directing the action.

4. Plaintiff's transactions in VIVUS Inc. securities during the Class Period are attached

hereto.

5. During the three years prior to the date of this Certification, Plaintiff has not sought to

serve or served as a representative party for a class under the federal securities laws.

6. Plaintiff will not accept any payment for serving as a representative party on behalf of

the class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses

(including lost wages) directly relating to the representation of the class as ordered or approved by the

court. Plaintiff understands that this is not a claim form, and that Plaintiff's ability to share in any

recovery as a member of the class is unaffected by Plaintiff's decision to serve as a representative party.

I declare under penalty of perjury under the laws of the United States of America that the

foregoing is true and correct. Executed this '30 day • 0 ye ta EC 2010.

S': ature

Brower Vivi , A Professional Corporation1925 Old Valley Road

Stevenson, Maryland 21153Telephone: 410-332-0030Facsimile: 410-685-1300

www.browerpivericorn

Case4:10-cv-04957-PJH Documentl 1-1 Filed01/03/11 Page3 of 3

John Ingram

Vivus Inc. Securities Litigation

SCHEDULE OF TRANSACTIONS

Date Security Transaction Type Shares/Contract Price pershare/contract

5/7/2010 Common Stock BUY 6,970 $10.605/7/2010 Common Stock BUY 43,030 $10.705/21/2010 Common Stock BUY 50,000 $11.055/24/2010 Common Stock SELL 10,000 $12.055/24/2010 Common Stock SELL 4,275 $11.955/27/2010 Common Stock SELL 2,000 $11.95

June $11 Call5/28/2010 Option SELL 55 $2156/11/2010 Common Stock SELL 8,300 $12.106/11/2010 Common Stock SELL 1,085 $12.056/16/2010 Common Stock SELL 17,000 $10.95


EXHIBIT B


Vivus Inc. Securities Litigation

SCHEDULE OF TRANSACTIONS AND LOSSES

John IngramDate Security Transaction Shares/Contracts Price per (Cost)/Proceeds

Type share/contract5/7/2010 Common Stock BUY 6,970 $10.60 ($73,882.00)5/7/2010 Common Stock BUY 43,030 $10.70 ($460,421.00)5/21/2010 Common Stock BUY 50,000 $11.05 ($552,500.00)5/24/2010 Common Stock SELL 10,000 $12.05 $120,500.005/24/2010 Common Stock SELL 4,275 $11.95 $51,086.255/27/2010 Common Stock SELL 2,000 $11.95 $23,900.00

June $11 Call5/28/2010 Options SELL 55 $215 $11,825.006/11/2010 Common Stock SELL 8,300 $12.10 $100,430.006/11/2010 Common Stock SELL 1,085 $12.05 $13,074.256/16/2010 Common Stock SELL 17,000 $10.95 $186,150.007/16/2010 Common Stock SELL 200 $5.18* $1,036.007/16/2010 Common Stock SELL 57,140 $5.17* $295,413.80

*Actual sales prices used for post-Class Period sales Total Loss: ($283,387.70)


EXHIBIT C


Page 1

e. . N *1 of 1 DOCUMENT

Copyright 2010 Marketwire, Inc.All Rights Reserved

Marketwire

November 3, 2010 Wednesday 10:48 AM GMT

LENGTH: 860 words

HEADLINE: Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Vivus, Inc. --(NasdaqGM: VVUS)

DATELINE. NEW YORK, NY; Nov 03, 2010

BODY:

The law firm of Milberg LLP filed a class action lawsuit in the United States District Court for the NorthernDistrict of California on behalf of all persons who purchased Vivus, Inc. ("Vivus" or the "Company") (NASDAQ:VVUS) securities during the period from September 9, 2009, to July 15, 2010, inclusive (the "Class Period"). The actionis captioned Kovtun v. Vivus, Inc. et al., and is numbered 10-CV-4957. The complaint is available from the Court orcan be viewed at Milberg LLP's website at www.milberg.com .

The Company's lead product in clinical development is Qnexa(R) ("Qnexa" or the "drug"), an experimental drugthat has completed Phase III clinical trials for the treatment of obesity. In December 2009, Vivus submitted a New DrugApplication ("NDA") to the Food and Drug Administration ("FDA") to have Qnexa approved as an obesity drug.

The complaint charges Vivus and certain of its officers and directors with violations of the Securities Exchange Actof 1934. The complaint alleges that during the Class Period, defendants made false and misleading statements about theCompany's weight loss drug Qnexa. More specifically, the Company failed to disclose that: (a) the studies conducted byVivus and submitted to the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA (the "FDA Panel")could not support FDA Panel approval for Qnexa's use to treat obesity as a chronic condition, and, at the very least,longer-term clinical studies would be needed to determine whether Qnexa was safe for its intended use to treat chronicobesity; (b) the trial results showed worrisome adverse effects of the type that scuttled approval for other obesity drugs,including: increased risk of suicide, cardiovascular events, and birth defects; (c) four to seven times as many patientstaking the highest dose of Qnexa, compared to patients taking lower doses or placebos, dropped out of the studybecause of adverse side effects such as anxiety, sleep disorders, or depression; and (d) Qnexa would likely receive a"Pregnancy Category X" label from the FDA due to risks of birth defects (teratogenicity), instead of the proposed"Pregnancy Category C" label, thereby potentially eliminating a huge swath of potential Qnexa customers.

On July 15, 2010, the FDA Panel held a hearing to review Qnexa. Following the lengthy review and discussion, theFDA Panel voted against recommending Qnexa based on concerns regarding adverse effects and the unknown impact oflong-term use beyond the 56-week clinical study period. The FDA Panel voted 10-to-6 in the negative on the questionof whether the "overall risk-benefit assessment of Qnexa is favorable to support approval." When news of the vote was


Page 2Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Vivus, Inc. -- (NasdaqGM:

VVUS) Marketwire November 3, 2010 Wednesday 10:48 AM GMT

publicly announced on July 15, 2010, the market price of Vivus common stock plummeted, falling $6.70 per share, or55%, in one day on unusually high trading volume of over 42.3 million shares. On October 28, 2010, the FDA followedthe recommendation of the FDA Panel and rejected Vivus's NDA for Qnexa.

If you purchased any class of shares of Vivus from September 9, 2009, to July 15, 2010, you may move the courtno later than 60 days from November 3, 2010, and request that the Court appoint you as lead plaintiff A lead plaintiff isa representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff,the Court must decide that you have the largest financial interest of any competing movant and that your claims aretypical of the claims of other class members, and that you will adequately represent the class. Your share in anyrecovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff If there is arecovery in this action and you are part of the class, you can recover as an absent class member without moving for leadplaintiff or otherwise taking an active role in the litigation. You may retain Milberg LLP, or other attorneys, to serve asyour counsel in this action, but do not need to retain counsel to participate in any recovery as an absent class member.

About Milberg Milberg LLP is widely recognized as the premier class action and complex litigation firm,representing individual and institutional investors, pension funds, hedge funds, unions, and consumers. Founded in1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has taken the lead in landmarkcases that have set groundbreaking legal precedents and prompted changes in corporate governance benefitingshareholders in North America and abroad. Please visit the Milberg website (www.milberg.com ) for more informationabout the Firm.

If you wish to discuss this matter with us, please contact the following attorneys:

Andrei V. Rado, Esq.

Milberg LLP (New York Office)

One Pennsylvania Plaza, 49th Fl.

New York, NY 10119-0165

Phone number: (800) 320-5081

Email : [email protected]

Jeff S. Westerman, Esq.

Milberg LLP (California Office)

300 South Grand Avenue, Suite 3900

Los Angeles, CA 90071

Phone number: (800) 320-5081

Email : [email protected]

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

SOURCE: Milberg LLP

LOAD-DATE: November 4, 2010


EXHIBIT D

Case4:10-cv-04957-PJH Document11-4 Filed01 /03/11 Page2 of 11

BROWER Pt YENA PROFESSIONAL CORPORATION

1925 OLD VALLEY ROAD 488 MADISON AVENUE, 8T11 FLOORSTEVENSON, MARYLAND 21153 NEW YORK, NEW YORK 10022

TELEPHONE: (410) 332-0030 TELEPHONE: (212) 501-9000FACSIMILE: (410) 685-1300 FACSIMILE: (212) 501-0300

With offices in New York City and Baltimore County, Maryland, Brower Piven focuses itspractice in the areas of complex class action and other representative litigation. The firm'spractice areas, while diverse, enable Brower Piven clients to call upon experience and resourcesavailable at few firms of its size. Brower Piven clients range from institutional and large privateinvestors, to small and large businesses, to small individual investors and retail consumers.Regardless of the size of the matter, Brower Piven provides every client with the professionalservice, care, and quality that Brower Piven believes every client deserves.

Attorneys at Brower Piven, some with over 25 years of experience, are nationally recognized inthe class action arena. The firm's attorneys have vast experience advising and representingplaintiffs in class actions under the federal securities laws; federal and state consumer protectionlaws; federal and state antitrust laws; state shareholder and corporate governance laws; federaland state environmental laws; and federal RICO laws. Brower Piven attorneys have served theirclients in literally hundreds of federal and state actions in almost every state in the nation.

Some current matters in which Brower Piven has a leadership role demonstrate the scope of thefirm's expertise. Brower Piven is co-lead counsel in the In re Merck Securities, Derivative, &"ERISA" Litigation pending in the United States District Court for the District of New Jersey,considered by many the largest federal securities fraud action in terms of damages in history, andlead counsel in pending shareholder litigation challenging the proposed $38 billion take-over ofEquity Office Properties Trust, one of the largest going private transactions in business history.

Brower Piven is also currently plaintiffs' court-appointed lead or co-lead counsel in thefollowing federal securities class actions:

• In re Arotech Corp. Securities Litigation (E.D. N.Y.).• Klugmann v. American Capital Ltd., et al., (D. Md.);• Gomez v. Bidz.com, Inc., et al. (C.D. Calif.);• Landmen Partners, Inc. v. The Blackstone Group L.P., et al. (S.D. N.Y.);• In re Crocs, Inc. Securities Litigation (D. Colo.);• Freudenberg v. E*Trade Financial Corporation, et al. (S.D. N.Y.);• Gosselin v. First Trust Advisors L.P., et al. (N.D. Ill.);• Kaplan v. Gaming Partners International, Inc. (D. Nev.);• In re HomeBanc Corp. Sec. Litig. (N.D. Ga.);• The Pennsylvania Avenue Funds v. INYX, Inc., et al. (S.D. N.Y.)


• Minneapolis Firefighters' Relief Association v. MEMC Electronic Materials,Inc., et al. (E.D. Mo.);

• In Re: Municipal Mortgage & Equity, LLC Securities and Derivative Litigation(D. Md.);

• In re Opteum, Inc. Sec. Litig. (S.D. Ha.);• Gooden v. Smart OnLine, Inc., et al. (M.D. N.C.); and• In re: Spectranetics Corporation Securities Litigation, (D. Colo.);• Wagner v. Barrick Gold Corporation, et al. (S.D. N.Y);• In re Interlink Electronics, Inc. Securities Litigation (C.D. Calif.).

Brower Piven is or has been co-lead and/or liaison counsel representing shareholders in merger-related class actions, including the following: Blaz v. Pan Pacific Retail Properties, Inc., et al.(Cir. Ct., Balto. Co.); In re Reckson Associates Realty Corp. Shareholders Litigation (N.Y. Sup.Ct., Nassau Co.); In re Fairchild Corp. Shareholders Litigation (Del. Ch.); In re LaureateEducation Shareholder Litigation (Cir. Ct., Balto. City); and In re PHH CorporationTransaction Litigation (Cir. Ct., Balto. Co.). Brower Piven is also plaintiffs' court-appointed co-lead or liaison counsel in shareholder derivative actions on behalf of shareholders of BearStearns & Co., Inc., Citigroup, Inc., and Merrill Lynch & Co., Inc. Brower Piven also is or hasbeen plaintiffs' counsel in the consumer class actions including the following: H&R Block, Inc."Express IRA" Marketing Litigation (W.D. Mo.), Huff v. Liberty League, International, LLC, etal (C.D. Calif.) (Lead Counsel); Freedman v. Comcast Corp. (Cir. Ct., Balto. City) (LeadCounsel); and Segal v. Fifth Third Bancorp (S.D. Ohio) (Lead Counsel).

Brower Piven's experience is extremely broad and includes counseling and representing bothpublic and non-public corporations and their executives, real estate developers, and large privateinvestors in complex commercial litigation and on corporate governance matters, as well asrepresenting both plaintiffs and defendants in class and non-class action litigation. The firm'sexperience on both sides of the bar makes it uniquely qualified to provide its clients with aperspective not available from firms that solely represent plaintiffs or defendants. The success ofthe strategies pursued by Brower Piven's attorneys in representing their clients over the years hasbeen demonstrated by clients and classes represented by attorneys at Brower Piven recoveringover $1 billion in past and pending recoveries. The following is a sampling of the cases andresults achieved by attorneys at Brower Piven where they have served as lead or co-leadattorneys for plaintiffs:

Steiner v. Southmark Corporation, No. 3-89-1387-D (N.D. Tex.), federal securities fraud classaction against defunct real estate partnership marketer and its outside accountants resulting in arecovery of over $75 million in cash for investors.

In re Petro-Lewis Securities Litigation, No. 84-C-326 (D. Colo.), a federal securities fraud classaction on behalf of limited partners and shareholders where plaintiffs recovered over $100million in cash and benefits including the restructuring of dozens of oil and gas limitedpartnerships.

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In re StarLink Products Liability Litigation, MDL No. 1403, No. 01 C 4928 (N.D. HO,representing an American corn farmers in nationwide litigation against manufacturer ofunapproved pesticide which allegedly infected the U.S. corn supply and recovering over $125million in cash for the dass members.

Romig v. Jefferson-Pilot Life Insurance Company, 95 CVS 9703 (Supr. Ct. N.C.), deceptiveinsurance sales practices action brought on behalf of a class of Jefferson Pilot life insurancepurchasers, resulting in a recovery for policyholders valued at over $55 million.

In re MicroStrategy Securities Litigation, No. 00-473-A (E.D. Va.), a federal securities fraudclass action, where over $125 million was recovered for investors, the Court commented that:"Clearly, the conduct of an counsel in this case and the result they have achieved for an of theparties confirms that they deserve the national recognition that they enjoy.

In re Arakis Energy Corporation Securities Litigation, No. 95-CV-3431 (ARR) (E.D. N.Y.),federal securities class action against Canadian company resulting in a recovery of over $24million for investors.

In re Spectrum Information Technologies Securities Litigation, CV-93-2295 (FB) (E.D. N.Y.),securities fraud action against bankrupt issuer where over $10 million in cash was recovered(including an insurance coverage available) for investors following successful trial and appealagainst directors' and officers' insurance carrier who attempted to disclaim coverage.

In re Bristol-Myers Squibb Securities Litigation, 92-CIV-4007 (JES) (S.D. N.Y.), federalsecurities class action resulting in recovery of over $19 million in cash for investors.

Steiner v. Ideal Basic Industries, Inc., No. 86-M-456 (D. Colo.), federal securities class actionagainst the former Fortune 500 cement manufacturer resulting in an over $17 5 million recoveryin cash for investors.

In re Broadwing Securities Litigation, No. C-1-02-795 (S.D. Ohio), federal securities dassaction against major public utility/broadband company resulting in a recovery of over $35million in cash for investors.

Berger v. Compaq Computer Corporation, No. 00-20875 (S.D. Tex.), a federal securities classaction where, after a successful appeal of a question of first impression in the federal appellatecourts relating to the selection of lead plaintiffs and dass certification in the Fifth Circuit underthe Private Securities Litigation Reform Act of 1995, over $29 million was recovered forinvestors.

In re Bausch & Lomb Securities Litigation, No. 01-CV-6190 (CJS) (W.D. N.Y.), federalsecurities class action resulting in a recovery of over $12.5 million for investors.

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Slone v. Fifth Third Bancorp, et al., No.1:03-CV-211 (S.D. Ohio), securities fraud action againstone of the largest mid-west bank holding companies, resulting in a recovery of $17 million forinvestors.

Poziak v. Imperial Chemical Industries, PLC, et al., No. 1:03 cv 2457 (NRB) (S.D. N.Y.),securities fraud action against one of the United Kingdom's largest public corporations, resultingin a recovery of approximately 90% of recoverable damages in cash for investors.

J.E. Pierce Apothecary, Inc. v. Harvard-Pilgrim Health Care, Inc., et al, No. 98-12635-WGY(D. Mass.), unfair and deceptive trade practices action on behalf of independent Massachusettspharmacies against Harvard Pilgrim HMO and CVS Pharmacies, Inc. resulting, after bench trial,in excess of 100% of estimated recoverable damages for the class, including trebling.

The foregoing sampling of results is the product of the depth and breadth of the professionalexperience of attorneys at Brower Piven. The firm's attorneys include:

DAVID A.P. B ROWER

Mr. Brower has over 25 years of complex litigation experience. Mr. Brower has successfullyrepresented plaintiffs in class action securities, consumer protection, environmental, antitrust andRICO actions, and representative shareholder derivative and take-over litigation. Mr. Brower, amember of the Bar of the State of New York, is also admitted to practice before the United StatesSupreme Court, the United States Courts of Appeals for the First, Second, Third, Fourth, Fifth,Sixth, Seventh, Ninth, Tenth and Eleventh Circuits, and innumerable federal and state trialcourts. Mr. Brower has participated in the prosecution as lead or co-lead counsel in successfulfederal securities law class actions against, among others: Imperial Chemical Industries, FifthThird Bancorp, Southmark Corp., Ideal Basic Industries, Bristol-Myers Squibb, TowerSemiconductor, Gibson Greetings, Arabs Energy Corp., Scoreboard, Coastal Healthcare,Everest & Jennings International, B.T. Office Products, Profit Recovery, Enstar Corp., JeniferConvertibles, Warner Communications, Sambo's Restaurants, Sunrise Savings & Loan, PhillipMorris Companies, Bausch & Lomb, Nanophase Technologies, Ramada Inns, Michael Stores,Inc., Consumers Power Co., Broadwing/Cincinnati Bell, Compaq Computer Corp., andComputer Associates. Mr. Brower has also participated in the prosecution as lead or co-leadcounsel in merger litigation on behalf of, among others, public shareholders of Sheller GlobeCorp., Petro-Lewis Corp., Floating Point Systems, Holnam Corp., Wometco Enterprises, Inc.,Great Bay Casinos Corp., Home Shopping Networks, MCA, Holly Sugar Co., and ARMFinancial Group; and shareholder derivative actions on behalf of shareholders of BannerIndustries, Marsh & McLennan Companies, and Merrill Lynch, Pierce, Fenner & Smith.

Since 2004, Mr. Brower has been one of the lead attorneys with day-to-day responsibility for theprosecution of the securities fraud claims in In re Merck & Co, Securities, Derivative & ERISALitigation, MDL No. 1658, No. 2:05-CV-02367 (D. N.J.), an action where the damages to classmember are estimated to be among the largest in the history of federal securities class litigation.Additionally, while at his former firm, Mr. Brower was one of the attorneys with primaryresponsibility for class certification issues, including successfully arguing the class certification

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motion before the trial court, in In re Initial Public Offering Securities Litigation, 21 MC 92(S.D. N.Y.), among the largest securities litigations ever prosecuted, encompassingapproximately 309 consolidated class action cases alleging market manipulation claims inconnection with the initial public offering of securities by over 55 defendant underwriters. Mr.Brower also served as liaison counsel in In re Sotheby's Holding, Inc. Securities Litigation, No.00 Civ. 1041 (S.D. N.Y.), which resulted in a recovery of over $75 million for Sotheby'sinvestors.

Mr. Brower has also served as lead or co-lead counsel in consumer fraud actions against AventisCropScience, Compaq Computer Corporation, Jefferson-Pilot Life Insurance Company, SprintPCS Wireless, Metropolitan Life Insurance, Harvard Pilgrim Healthcare, and CVS Corporation.In the antitrust field, Mr. Brower acted as lead counsel in litigation against Monsanto Company,E. I. du Pont de Nemours & Co. and Pioneer Hybrid International, Inc. (No. 4:05-CV-01108-ERW (E.D. Mo.), on behalf of genetically modified seed purchasers, and participated in the In reInitial Public Offering Antitrust Litigation, No. 01 CIV 2014 (WHP) (S.D. N.Y.).

In the area of environmental law, Mr. Brower has served as one of the lead attorneys in pollutionactions on behalf of Oklahoma landowners against chicken producers, including Tyson Foods,Inc.; and as counsel for Missouri landowners in pork producer nuisance actions againstContigroup Companies, Inc. (formerly Continental Grain) and Premium Standard Farms, whichrecently resulted in verdicts in favor of neighboring farmers.

Before joining Brower Piven, Mr. Brower also represented a nationwide class of hospitals inRICO litigation against Tenet Healthcare Corporation based on claims that its conduct causedclass member hospitals to receive reduced "Outlier" reimbursements from Medicare.

Mr. Brower has also represented: directors and officers of public companies in securities classactions, including the directors of Heritage Hospitals; represented a former multi-state hospitaldeveloper; advised boards of directors of public companies regarding their fiduciaryresponsibilities; provided opinions as special counsel under Delaware law to public companies,including MGM/UA; represented insurance and reinsurance companies in coverage litigation,including matters involving Johns Manville, PepsiCo and Hilton Hotels; representedcommodities dealers and brokers in connection with Commodities Futures Trading Commissionreparations actions; represented foreign corporations in United States litigation, including one ofJapan's largest electronics, international hotel and resort companies in litigation against itsAmerican counsel and financial advisors; represented a Brazilian trust holding claims for one ofBrazil's largest telecommunications companies; and defended a large, Florida-based, nationalmortgage brokerage company, Foundation Funding, in class action litigation brought under theTruth In Lending Act.

Mr. Brower, is a graduate of Columbia College of Columbia University (A.B. 1979), and theGeorgetown University Law Center (J.D. 1982), and he attended King's College, University ofLondon (1980), where he studied comparative, international, and EC transactional law. Mr.Brower regularly lectures before professional organizations and at CLE-accredited conferenceson the class action procedures and securities laws and shareholder and investor rights, including

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the American Law Institute/American Bar Association Advanced Course of Study Program, thePracticing Law Institute, and the New York State Bar Association. Mr. Brower regularly writeson class action procedures and new issues in class action jurisprudence. Mr. Brower is a long-time member of the New York State Bar Association Subcommittee on Class Actions, hasparticipated as a member of the Executive Committee of the National Association of Securitiesand Consumer Law Attorneys, and actively participated in legislative initiatives relating to thePrivate Securities Litigation Reform Act of 1995 and the Class Action Fairness Act of 2005.

CHARLES J. PIVEN

Mr. Piven is a seasoned litigator who has led his own practice since 1990. During his more than30 years in practice, Mr. Piven has represented individuals, partnerships, trusts, pension plansand corporations in many types of cases. Mr. Piven's experience includes litigation in the areasof complex securities, shareholder, consumer protection, personal injury and property damageclass actions, merger and acquisition class actions, bankruptcy, first amendment, copyright,employment, wrongful death, and legal, medical, accounting and broker malpractice.

Class and representative actions in which Mr. Piven has served as lead, co-lead, liaison or localcounsel include, among others, Baltimore Bancorp securities litigation, USFG securitieslitigation, Yorkridge Calvert Savings & Loan securities litigation, Maryland National Banksecurities litigation, Reckson Associates Realty Company derivative litigation, Read-RiteCorporation securities litigation, Mid-Atlantic Realty shareholder merger litigation, Pan PacificRealty shareholder merger litigation, Allied Irish Banks derivative litigation, Sprint SpectrumCellular Telecommunications Company consumer litigation, IWIF Wiretap consumer litigation,Land Rover Group Ltd. consumer litigation, Cellular One consumer litigation, H&R BlockRefund Anticipation Loan consumer litigation, Prison Telephone consumer litigation, andBlueCross/Blue Shield consumer litigation.

Mr. Piven has taken an active role in the prosecution of litigation relating to allegations thatmutual fund investors have been victimized by directed brokerage arrangements, excessive fees,excessive commissions and deceptive sales practices or other actionable conduct. Some of themutual fund families and brokerage firms involved in these cases that Mr. Piven has beenresponsible for originating include: Lord Abbott, AIM/Invesco, BlackRock, Davis, Eaton Vance,Dreyfus, Evergreen, Federated, Alliance, Franklin, Hartford, MFS, PIMCO, Scudder, Columbia,Goldman Sachs, Merrill Lynch, Morgan Stanley, Salomon Smith Barney, Edward Jones, UBS,Wells Fargo and American Express. Investors in mutual fund cases initiated or led by Mr.Piven's clients have achieved a settlement with brokerage firm Edward Jones for approximately$125,000,000, with American Express for approximately $100,000,000, and with Merrill Lynchfor approximately $26,000,000.

Mr. Piven also directly represents the lead plaintiff(s) and/or proposed class representative(s) inapproximately 25% of the 309 cases encompassed by the Initial Public Offering SecuritiesLitigation pending in the Southern District of New York, and Mr. Piven and the firm have takenan active role in the discovery in this litigation.

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Mr. Piven also has experience in the field of ERISA class actions on behalf of former and currentcompany employees. ERISA cases in which Mr. Piven is or has been counsel for namedplaintiffs include: Aquila ERISA litigation (VV.D. Mo.); General Motors ERISA litigation (E.D.Mich.); ConAgra Foods ERISA litigation (D. Nebr.); the Coca-Cola Enterprises ERISA litigation(N.D. Ga.); Fannie Mae ERISA litigation (D. D.C.); Delphi ERISA litigation (E.D. Mich.); FordMotor Company ERISA litigation (E.D. Mich.) and the Pfizer ERISA litigation (S.D. N.Y.).

Mr. Piven is a 1975 graduate of Washington University and a 1978 graduate of the University ofMiami School Of Law. During law school, Mr. Piven was a student law clerk for the lateHonorable United States District Judge C. Clyde Adkins of the Southern District of Florida. Mr.Piven was admitted to the bars of the States of Florida (currently inactive) and Maryland in 1978.Mr. Piven is a member in good standing of the Court of Appeals of Maryland, the United StatesCourt of Federal Claims, the United States Tax Court, the United States District Court for theDistricts of Maryland and Colorado, the United States Courts of Appeals for the First and FourthCircuits, and the United States Supreme Court.

BRIAN C. KERR

Mr. Kerr maintains a wide-ranging complex commercial litigation practice representingindividuals and institutions in securities fraud, consumer fraud, antitrust, commercial disputes,and other complex litigation. Mr. Kerr brings the skills of a courtroom advocate to each of hismatters having tried cases before judges and juries.

Mr. Kerr was one of the principal trial counsel for plaintiffs in the securities fraud class actionagainst Vivendi Universal (In re Vivendi Universal, S.A. Sec. Litig., No. 02 Civ. 5571(S.D.N.Y.)), where in January 2010 the jury returned a verdict that at the time had an estimatedvalue of up to $9 billion. Mr. Kerr has also represented: institutional investors in a securitiesfraud class action against Tyco International, Dennis Kozlowski, PricewaterhouseCoopers, andothers (In re Tyco Intl. Ltd. Sec. Litig., MDL Docket No. 02-1335-PB (D.N.H.)), which resultedin combined settlements of $3.2 billion; lead plaintiffs in a securities class action against RiteAid, former CEO Martin Grass, and KPMG (In re Rite Aid Corp. Sec. Litig., MDL Docket No.1360 (E.D. Pa.)), where total settlements were $323 million, including the then-second largestsecurities fraud settlement ever against a Big Four auditing firm; class plaintiffs in a securitiesclass action against General Instrument (In re General Instrument Sec. Litig., 92 C 1129 (N.D.Ill.)), which resulted in $48 million settlement; a book publisher in a multi-million dollardefamation/breach of contract case against News Corporation (settled on confidential terms), aUK film producer in an antitrust case involving the alleged manipulation of the market forWarhol art; a US hedge fund in a shareholder derivative action arising from the collapse of BearStearns; and the Australis Media Group in a multi-million dollar complex commercial dispute inNY State Supreme Court against News Corp., Sony, Universal, and Paramount arising from analleged international conspiracy to put Australis out of business (also settled on confidentialterms).

Mr. Kerr has also been actively involved in pro bono efforts, including the representation ofindigent prisoners in civil rights cases before the US Court of Appeals for the Second Circuit,

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and working extensively with Trial Lawyers Care to provide free legal assistance to the familiesof victims of the September 11 attacks.

In 1993, Mr. Kerr graduated summa cum laude with a BA in Economics from the University ofAlbany, where he received the Gordon Karp Prize for Excellence in Economics, was founder ofthe Presidential Honors Society, a member of Phi Beta Kappa, and valedictorian. In 1996, Mr.Kerr graduated from Hofstra Law School, where he was a member of the Hofstra Law Reviewand a Dean's Scholar. Mr. Kerr, admitted to the Connecticut Bar in 1996 and the New York Barin 1997. is a member in good standing of the United States District Court for the Southern andEastern Districts of New York, as well as the United States Court of Appeals for the ThirdCircuit.

CAITLIN M. MOYNA

Ms. Moyna graduated from Northwestern University School of Law in 2002, cum laude, whereshe was elected to the Order of the Coif. At Northwestern, Ms. Moyna was awarded the ArlynMiner Award in recognition for excellence in legal writing. She also served on the ArticlesBoard of the Journal of Criminal Law and Criminology and interned with the Honorable GeorgeC. Lindberg of the Northern District of Illinois Ms. Moyna received her undergraduate degreein 1995 from Dartmouth College.

Prior to joining Brower Piven, Ms. Moyna was a litigator for five years at Cravath, Swaine &Moore LLP and for two years at Ropes & Gray LLP Her experience in securities law includes:defending a Fortune 100 global media conglomerate against allegations of securities fraud andaccounting improprieties in the United States District Court for the Southern District of NewYork, various state courts and in connection with an SEC investigation; defending a majornational commercial bank against allegations of securities fraud in connection with investmentsin mortgage-backed securities prompting investigations by the SEC, the Department of Laborand state enforcement agencies; representing a broker-dealer in SEC enforcement proceedings;and representing two private equity companies in connection with investigations conducted bythe New York Attorney General's Office concerning alleged kickbacks paid to the former NewYork State Comptroller.

Ms. Moyna has also successfully represented clients in intellectual property matters, including anarbitration between two leading developers and suppliers of wireless technologies relating to aworldwide patent dispute; a copyright infringement action in the United States District Court forthe District of Utah, in which she defended a Fortune 500 provider and developer of informationand computing technologies concerning its use of the "open source" operating system, Linux;and a trademark infringement action in the United States District Court for the District ofMinnesota, which resulted in a voluntary dismissal of claims against her client, a water andpower supply company.

Ms. Moyna also has broad commercial litigation experience, including: representing a healthcare company in the United States District Court for the Southern District of New Yorkconcerning a dispute arising out of an asset purchase agreement; representing a high net worth

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individual in a breach of contract action in the United States District Court for the CentralDistrict of California concerning the auctioning of rare and expensive watches by a Swisscorporation; representing a youth soccer league in the United States District Court for theWestern District of Washington against an online third-party credit card payment processor andits founder for failing to remit funds owed to the soccer league; representing a major provider ofcable television programming in a New York State Supreme Court action involving analtercation between boxers held at an event to promote an upcoming boxing match. Ms. Moynahas also represented an official committee of unsecured creditors in an adversary proceedingchallenging the restructuring proposal of one of the nation's largest cable television providers inthe United States Bankruptcy Court in the Southern District of New York.

Ms. Moyna authored a Supreme Court amicus brief on behalf of former federal judges inHamdan v. Rumsfeld, arguing that the petitioner had the right to assert a separation of powersviolation. Her efforts were recognized by the National Legal Aid & Defender Association whenthey presented the "Beacon of Justice" award to Cravath. Ms. Moyna has also authored anamicus brief in a Section 1983 case concerning the fatal shooting of an African American off-duty police officer against the City of Providence, Rhode Island which persuaded the UnitedStates Court of Appeals for the First Circuit to remand the case for a determination of whetherofficers were adequately trained in safe, off-duty procedures.

Prior to attending law school, Ms. Moyna was an associate at the Law and EconomicsConsulting Group and a research assistant in a vascular biology laboratory at the HarvardMedical School.

Ms. Moyna is admitted to practice in the State of New York and the Southern District of NewYork.

YELENA TREPETIN

Ms. Trepetin is a graduate of Tulane University Law School. While at Tulane, Ms. Trepetin wasthe Senior Managing Editor of the Tulane Journal of International and Comparative Law. Shealso served as a student attorney for the Domestic Violence Clinic. In the fall of 2005, Ms.Trepetin attended Duke University School of Law where she was a visiting Staff Editor of theDuke Journal of Comparative and International Law. Ms. Trepetin graduated magna cum laudefrom Brandeis University. Ms. Trepetin also studied for a year at the London School ofEconomics and Political Science. Ms. Trepetin's legal work experience includes clerking at theMaryland Office of the Public Defender for Baltimore County and interning for the Honorable J.Norris Byrnes and the Honorable Lawrence R. Daniels in the Circuit Courts of BaltimoreCounty. Ms. Trepetin is admitted to practice in the State of Maryland, and she is a member ofthe Baltimore County Bar Association and the Bar Association of the District of Columbia.

JOHN D.S. GRANT

Mr. Grant is a graduate of New York University School of Law (J.D. 2008), where he was aresearch assistant to Prof. Oscar Chase, analyzing empirical studies of the public's opinion of

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legal institutions and the Rule of Law, and a research assistant at the Center on Law andSecurity, where he compiled and analyzed data on Federal-level criminal indictments stemmingfrom terrorism-related investigations. Mr. Grant received his undergraduate degree from TheWharton School at the University of Pennsylvania (B.S.E. 1998), where he was both a JosephWharton Scholar and a Benjamin Franklin Scholar. Mr. Grant also received a master's degree inChinese language at the University of Pennsylvania (M.A. 2000), where he was a ForeignLanguage and Area Studies Fellow in the Asian and Middle Eastern Studies Department.

Prior to joining Brower Piven, Mr. Grant was an associate at Bickel & Brewer, representingclients in complex commercial litigation, including representing shareholders of a national healthmanagement organization in litigation against the majority shareholder for breach of fiduciaryduty; owners of a luxury resort hotel in an arbitration proceeding against the hotel operator forbreach of fiduciary duty and fraud; a Tier One defense contractor against a competitor's claimsof patent infringement and misappropriation of trade secrets; and a family of high net worthindividuals in an investigation by the Internal Revenue Service in connection with offshore trustaccounts.

Prior to attending law school, Mr. Grant worked as an associate at Early Stage Research, wherehe evaluated the strengths and weaknesses of various early-stage investment opportunities onbehalf of "angel investors," and as the financial manager of Pangea Vegan Products, where hewas responsible for the accounting and strategic planning of a niche consumer productscompany.

Mr. Grant is admitted to practice in the State of New York.

DANIEL WOLF

Mr. Wolf is a graduate of Columbia Law School, where he was twice designated a Harlan FiskeStone Scholar. While at Columbia, Mr. Wolf served on the staff of the Columbia Business LawReview and as a Teaching Assistant for contracts. In 2008 and 2009, respectively, Mr. Wolf co-authored two articles with the Adolf A. Berle Professor of Law at Columbia Law School, JohnC. Coffee, entitled "Class Certification: Developments Over the Last Five Years," which werepublished by the American Bar Association and the Bureau of National Affairs. Mr. Wolf'sexperience includes serving as a legal intern for the Honorable Joseph F. Bianco of the UnitedStates District Court for the Eastern District of New York, the Honorable John G. Koeltl of theUnited States District Court for the Southern District of New York, and the United StatesAttorney's Office in the Eastern District of New York. Mr. Wolf received his A.B. in 2005 fromColumbia College of Columbia University in New York.

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EXHIBIT E


tvill_BERG LLP

NEW YORKLOS ANGELES •

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THE FIRM'S PRACTICE AND ACHIEVEMENTS

Milberg LLP, founded in 1965, was one of the first law firms to prosecute class actions in federal courtson behalf of investors and consumers. The Firm pioneered this type of litigation and is widely recognized as aleader in defending the rights of victims of corporate and other large-scale wrongdoing. The Firm's practicefocuses on the prosecution of class and complex actions in many fields of commercial litigation, includingsecurities, corporate fiduciary, ERISA, consumer, insurance, antitrust, bankruptcy, mass tort, and human rightslitigation. The Firm has offices in New York City, Los Angeles, Tampa, and Detroit.

In its early years, the Firm built a new area of legal practice in representing shareholder interests underthe then recently amended Rule 23 of the Federal Rules of Civil Procedure, which allowed securities fraud cases,among others, to proceed as class actions. In the following decades, the Firm obtained decisions establishingimportant legal precedents in many of its areas of practice and prosecuted cases that set benchmarks in terms ofcase theories, organization, discovery, trial results, methods of settlement, and amounts recovered and distributedto clients and class members.

Important milestones in the Firm's early years include the Firm's involvement in the U.S. Financiallitigation in the early 1970s, one of the earliest large class actions, which resulted in a $50 million recovery forpurchasers of the securities of a failed real estate development company, the Ninth Circuit decision in Blackie v.Barrack in 1975, which established the fraud-on-the-market doctrine for securities fraud actions; the Firm's co-lead counsel position in the In re Washington Public Power Supply System ("WPPSS") Securities Litigation, aseminal securities fraud action in the 1980s in terms of complexity and amounts recovered; the representation ofthe Federal Deposit Insurance Corporation in a year-long trial to recover banking losses from a major accountingfirm, leading to a precedent-setting global settlement; attacking the Drexel-Milken "daisy chain" of illicit junk-bond financing arrangements with numerous cases that resulted in substantial recoveries for investors;representing life insurance policyholders defrauded by "vanishing premium" and other improper sales tactics andobtaining large recoveries from industry participants; and ground-breaking roles in the multi-front attack ondeception and other improper activities in the tobacco industry.

Milberg remains at the forefront in its areas of practice. Significant litigation results include: In reVivendi Universal, S.A. Securities Litigation (estimated $9 billion judgment, claims procedure pending); TycoInternational Ltd. Securities Litigation ($3.2 billion settlement); Nortel Networks Litigation (settlement for cashand stock valued at $1.142 billion); Lucent Technologies Securities Litigation ($600 million recovery); RaytheonCo. Securities Litigation ($460 million recovery); Managed Care Litigation (recoveries over $1 billion and majorchanges in HMO practices); the WPPSS Securities Litigation (settlements totaling $775 million), and theNASDAQ Market-Makers Antitrust Litigation ($1 billion in recoveries). Milberg has been responsible forrecoveries valued at approximately $55 billion during the life of the Firm.

Milberg is consistently active in pro bono litigation, highlighted by its leadership role in the Swiss BankLitigation, which led to the recovery of $1.25 billion from Swiss banks to benefit victims of the Holocaust, andthe Firm's efforts representing claimants of the September 11 Victim Compensation Fund.

The Firm's lawyers come from many different professional backgrounds. They include former judges,professors, prosecutors, private defense attorneys, and government lawyers. The Firm's ability to pursue claimsagainst defendants is augmented by its team of investigators, headed by a 27-year veteran of the Federal Bureauof Investigation, a full-time staff of forensic accountants and financial analysts, and an in-house litigation supportdepartment with data hosting capabilities, staffed by electronic discovery specialists.

For more information, please visit www.milbem.com .

One Pennsylvania Plaza • New York, New York 10119 • T 212.594.5300 • F 212.868.1229 • milberg.com 1


•4.74IWI I LBGER*4 LLP

NEW YORKfl 105 ANDELE5TAMPA

DETROIT

JUDICIAL COMMENDATIONS

Milberg has been commended by countless judges throughout the country for the quality of itsrepresentation.

Milberg partners played leading roles in representing class plaintiffs in the three-month jury trial in In reViventa Universal, S.A. Securities Litigation, No. 02-5571 (S.D.N.Y.), which in January 2010 resulted in thelargest verdict on record in that type of case (totaling as much as $9 billion; claims procedure pending). At theclose of the trial, Judge Richard Holwell commented:

I can only say that this is by far the best tried case that I have had in my time on the bench. Idon't think either side could have tried the case better than these counsel have.

In approving a $3.2 billion securities fraud settlement, one of the largest in history, in In re TycoInternational, Ltd Securities Litigation, No. 02-1335 (D.N.H. Dec. 19, 2007), Judge Barbadoro laudedMilberg's efforts as co-lead counsel:

This was an extraordinarily complex and hard-fought case. Co-Lead Counsel put massiveresources and effort into the case for five long years, accumulating [millions of dollars inexpenses] and expending [hundreds of thousands of hours] on a wholly contingent basis. But forCo-Lead Counsel's enormous expenditure of time, money, and effort, they would not have beenable to negotiate an end result so favorable for the class. . . . Lead Counsel's continued, doggedeffort over the past five years is a major reason for the magnitude of the recovery.. ..

In Simon v. KRUG LLP, No. 05-3189, 2006 U.S. Dist. LEXIS 35943, at *18, 30-31 (D.N.J. June 2,2006), a case in which Milberg served as class counsel, Judge Cavanaugh, in approving the $153 millionsettlement, found that "Plaintiffs . . . retained highly competent and qualified attorneys" and that "[t]he InitialComplaint. . . demonstrates that [Milberg] expended considerable time and effort with the underlying factual andlegal issues in this case before even filing this lawsuit. . . . Settlement discussions were conducted over a periodof some fourteen months with the supervision and guidance of Judges Politan and Weinstein, and are evidence of[Milberg's] appreciation of the merits and complexity of this litigation."

In In re Lucent Technologies, Inc. Securities Litigation, No. 00-621, slip op. at 14-15, 26 (D.N.J. Feb.24, 2004), Judge Pisano issued an opinion approving the $600 million settlement and complimenting Milberg'swork as co-lead counsel for the class as follows:

[T]he attorneys representing the Plaintiffs are highly experienced in securities class actionlitigation and have successfully prosecuted numerous class actions throughout the United States.They are more than competent to conduct this action. Co-Lead Counsel diligently andaggressively represented the Plaintiffs before this Court and in the negotiations that resulted in theSettlement. . . . [T]he efforts and ingenuity of Lead Plaintiffs and Lead Counsel resulted in anextremely valuable Settlement for the Benefit of the Class.

In In re Rite Aid Corp. Securities Litigation, 269 F. Supp. 2d 603, 611 (E.D. Pa. 2003), Judge Dalzellcommented on the skill and efficiency of the Milberg attorneys litigating this complex case:

At the risk of belaboring the obvious, we pause to say a specific word about . . . the skill andefficiency of the attorneys involved. [Milberg was] extraordinarily deft and efficient in handlingthis most complex matter. [T]hey were at least eighteen months ahead of the United StatesDepartment of Justice in ferreting out the conduct that ultimately resulted in the write-down ofover $1.6 billion in previously reported Rite Aid earnings. . . . In short, it would be hard to equalthe skill class counsel demonstrated here.

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•4.74 IWI I LBGER*4 LLP


DETROIT

In In re IKON Office Solutions, Inc. Securities Litigation, 194 F.R.D. 166, 195 (E.D. Pa. 2000), JudgeKatz commented on Milberg's skill and professionalism as one of plaintiffs' co-lead counsel:

First, class counsel is of high caliber and has extensive experience in similar class actionlitigation. . . . Each of the co-lead counsel firms has a national reputation for advocacy insecurities class actions, and there is no doubt that this standing enhanced their ability both toprosecute the case effectively and to negotiate credibly. ...

Of particular note in assessing the quality of representation is the professionalism with which allparties comported themselves. The submissions were of consistently high quality, and classcounsel has been notably diligent in preparing filings in a timely manner even when under tightdeadlines. This professionalism was also displayed in class counsel's willingness to cooperatewith other counsel when appropriate. . . . This cooperation enabled the parties to focus theirdisputes on the issues that mattered most and to avoid pointless bickering over more minormatters.

In In re NASDAQ Market-Makers Antitrust Litigation, 187 F.R.D. 465, 474 (S.D.N.Y. 1998), in anopinion approving settlements totaling over $1.027 billion, Judge Sweet commented:

Counsel for the Plaintiffs are preeminent in the field of class action litigation, and the roster ofcounsel for Defendants includes some of the largest, most successful and well regarded law firmsin the country. It is difficult to conceive of better representation than the parties to this actionachieved.

Judicial recognition of Milberg's excellence is not limited to courts within the United States. In In reFlag Telecom Holdings, Ltd. Securities Litigation, No. 02-3400 (S.D.N.Y. 2009), Milberg litigated a discoverydispute before the English Royal High Court of Justice, Queens Bench Division, which recognized the Milbergattorney handling the matter as a "Grade A" lawyer and a "vital cog in the machine." Likewise, in Sharma v.Timminco Ltd., 09-378701 (Can. Ont. Sup. Ct. 2009), Canada's Ontario Superior Court of Justice recognizedMilberg's "fine reputation and excellent credentials" in connection with Milberg's representation in a securitiescase pending in Canada.

Milberg has also been recognized for its commitment to public service. In lauding Milberg's workrepresenting victims of the September 11th attack on the World Trade Center in connection with the September11 Victims Compensation Fund, Special Master Kenneth R. Feinberg stated the following:

Once again, as I have learned over the years here in New York, the [Milberg] firm steps up to theplate in the public interest time and time again. The social conscience of the [Milberg] firm,acting through its excellent associates and partners, help deal with crises that confront theAmerican people and others, and I am personally in the debt of Milberg. .. for the work that it isdoing . . . . [T]hey are second among none in terms of the public interest, and I'm very, verygrateful, not only to you guys for doing this, but . . . for the firm's willingness to help out. Iwanted to let everybody know that.

In re September 11 Victim Compensation Fund, Preliminary Hearing, Claim No. 212-003658 (Dec. 9, 2003).



•4.74IWI I LBGER*4 LLP


DETROIT

NOTEWORTHY RESULTS

The quality of Milberg's representation is further evidenced by the Firm's numerous significantrecoveries, some of which are described below.

• In In re Viventfi Universal, S.A. Securities Plaintiffs alleged that Xerox and several of itsLitigation, No. 02-5571 (S.D.N.Y.), Milberg top officers reported false financial resultslawyers were instrumental in obtaining a jury during the class period and failed to adhere toverdict for an international class of defrauded the standard accounting practices the companyinvestors after a trial lasting nearly four months. claimed to have followed. In the course ofThe jury found Vivendi liable for 57 false or litigating plaintiffs' claims, Milberg engaged inmisleading class period statements. The claims arduous and exhaustive factual discovery,procedure is pending and could potentially including review and analysis of more than fourresult in a judgment of up to $9 billion. The million pages of complex accounting anddistrict court had previously certified a class of auditing documents and thousands of pages ofpurchasers from the U.S., France, England, and SEC deposition transcripts. Plaintiffs' claimsthe Netherlands. See In re Vzvendz Universal, survived three motions to dismiss and a motionS.A. Sec. Lztzg., 242 F.R.D. 76 (S.D.N.Y. 2007). for summary judgment, ultimately resulting in a

In re Initial Public Offering Securities $750 million settlement, which received final• Litigation, No. 21-92 (S.D.N.Y.). Milberg approval on January 14, 2009.

represented investors in 310 consolidated • In re Tyco International Ltd, Securitiessecurities actions arising from an alleged market Litigation, MDL 1335 (D.N.H.). Milbergmanipulation scheme. Plaintiffs alleged, among served as co-lead counsel in this litigation,other things, that approximately 55 defendant which involved claims under the Securities Actinvestment banks, in dealing with certain of of 1933 and the Securities Exchange Act oftheir clients, conditioned certain allocations of 1934 against Tyco and its former CEO, CFO,shares in initial public offerings on the general counsel, and certain former directorssubsequent purchase of more shares in the arising out of allegations of Tyco's $5.8 billionaftermarket, thus artificially boosting the prices overstatement of income and $900 million inof the subject securities. This fraudulent insider trading, plus hundreds of millions ofscheme, plaintiffs alleged, was a major dollars looted by insiders motivated to commitcontributing factor in the now infamous the fraud. Plaintiffs also asserted claims undertechnology "bubble" of the late 1990s and early the 1933 and 1934 Acts against2000s. As a member of the court-appointed PricewaterhouseCoopers LLP for allegedlyPlaintiffs' Executive Committee, and with publishing false audit opinions on Tyco'scertain partners appointed by the court as liaison financial statements during the class period andcounsel, Milberg oversaw the efforts of failing to audit Tyco properly, despiteapproximately 60 plaintiffs' firms in combating knowledge of the fraud. On December 19,some of the most well-respected defense firms 2007, the court approved a $3.2 billionin the nation. In granting final approval to a settlement of the plaintiffs' claims and praised$586 million settlement on October 5, 2009, the the work of co-lead counsel.court described the law firms comprising the • In re Sears, Roebuck & Co. SecuritiesPlaintiffs' Executive Committee as the "cream Litigation, No. 02-7527 (N.D. Ill.). This caseof the crop." involved allegations that Sears concealed

• Carlson v. Xerox, No. 00-1621 (D. Conn). material adverse information concerning theMilberg served as co-lead counsel in this financial condition, performance, and prospectslawsuit, which consolidated 21 related cases of Sears' credit card operations, resulting in analleging violations of the federal securities laws. artificially inflated stock price. The approved



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settlement provided $215 million to compensate • In re American Express Financial Advisorsclass members. Securities Litigation, No. 04-1773 (S.D.N.Y.).

This case involved allegations that American• In re General Electric Co. ERISA Litigation,No. 04-1398 (N.D.N.Y.). This ERISA class Express Financial Advisors violated securities

action was brought on behalf of current and laws by representing to class members that the

former participants and beneficiaries of the company would provide tailored financial

General Electric ("G.E.") 401(k) Plan. Milberg, advice, when the company actually provided"canned" financial plans and advice designed toserving as co-lead counsel, achieved a $40steer clients into American Express and certainmillion settlement on behalf of current andnonproprietary mutual funds. The case settledformer G.E. employees who claimed that thefor $100 million, with the settlement agreementcompany's 401(k) Plan fiduciaries imprudently

invested more than two-thirds of the Plan's requiring that the company institute remedial

assets in company stock. The settlement measures.

included important structural changes to G.E.'s • In re Lucent Technologies, Inc. Securities401(k) plan valued at more than $100 million. Litigation, No. 00-621 (D.N.J.). In this federal

securities fraud action in which Milberg served• In re Biovail Corp. Securities Litigation, No.as co-lead counsel, plaintiffs alleged, inter alza,03-8917 (S.D.N.Y.). Milberg, representingthat Lucent and its senior officersLocal 282 Welfare Trust Fund and serving as

co-lead counsel, litigated this complex securities misrepresented the demand for Lucent's optical

class action brought on behalf of a class of networking products and improperly recognized

defrauded investors, alleging that defendants hundreds of millions of dollars in revenues.The settlement provided compensation of $600made a series of materially false and misleadingmillion to aggrieved shareholders whostatements concerning Canadian company

Biovail's publicly reported financial results and purchased Lucent stock between October 1999and December 2000.the company's then new hypertension/blood

pressure drug, Cardizem LA. This was a highly • In re Raytheon Securities Litigation, No. 99-complex case in which counsel took numerous 12142 (D. Mass.). This case, in which Milbergdepositions across the U.S. and Canada and served as lead counsel, concerned claims that aobtained documents from defendants and major defense contractor failed to write downseveral third-parties, including, among others, assets adequately on long term constructionUBS, McKinsey & Co., and Merrill Lynch. contracts. In May 2004, Raytheon and itsMilberg obtained a $138 million settlement for auditor, PricewaterhouseCoopers LLP, sealedthe class, and Biovail agreed to institute for a total of $460 million.significant corporate governance changes. • In In re Rite Aid Securities Litigation, No. 99-

• In re Nortel Networks Corp. Securities 1349 (ED. Pa.), in which Milberg served as co-Litigation, No. 01-1855 (S.D.N.Y.). In this lead counsel, the plaintiffs asserted federalfederal securities fraud class action, Milberg securities fraud claims arising out of allegationsserved as lead counsel for the class and the that Rite Aid failed to disclose materialcourt-appointed lead plaintiff, the Trustees of problems with its store expansion andthe Ontario Public Service Employees' Union modernization program, resulting in artificiallyPension Plan Trust Fund. In certifying the inflated earnings. Judge Dalzell approved classclass, the court specifically rejected the action settlements totaling $334 million againstdefendants' argument that those who traded in Rite Aid ($207 million), KPMG ($125 million),Nortel securities on the Toronto Stock and certain former executives of Rite Aid ($1.6Exchange (and not the New York Stock million).Exchange) should be excluded from the class. • In In re CMS Energy Corp. SecuritiesThe Second Circuit denied the defendants' Litigation, No. 02-72004 (E.D. Mich.), a federalattempted appeal. On January 29, 2007, the securities fraud case arising out of allegedcourt approved a settlement valued at $1.142 round-trip trading practices by CMS Energybillion.

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Corporation, Judge Steeh approved a cash (S.D.N.Y.), in which a $75 million cashsettlement of more than $200 million. Milberg settlement was approved by the court in Julyserved as co-lead counsel in this litigation. 2005. Plaintiffs alleged that ImClone issued a

In re Deutsche Tel ekom AG Securities number of misrepresentations and fraudulent• Litigation, No. 00-9475 (S.D.N.Y.). Milberg statements to the market regarding the

served as co-lead counsel in this securities class likelihood of approval of the drug Erbitux,

action alleging that Deutsche Telekom issued a thereby artificially inflating the price of

false and misleading registration statement, ImClone stock.

which improperly failed to disclose its plans to • In In re W.R. Grace & Co. (Official Committeeacquire VoiceStream Wireless Corporation and of Asbestos Personal Injury Claimants v.materially overstated the value of the Sealed Air Corp. and Official Committee ofcompany's real estate assets. On June 14, 2005, Asbestos Personal Injury Claimants v.Judge Buchwald approved a $120 million cash Fresenius Medical Care Holdings, Inc.), Nos.settlement. 02-2210 and 02-2211 (D. Del.), Milberg acted

In re CVS Corp. Securities Litigation, No. 01- as lead counsel for the asbestos personal injury• 11464 (D. Mass). Milberg served as co-lead and property damage committees in two

counsel in this class action alleging that

separate fraudulent conveyance actions withinthe W.R. Grace bankruptcy. The actions soughtdefendants engaged in a series of accountingto return the assets of Sealed Air Corporationimproprieties and issued false and misleadingand Fresenius Medical Care Holdings (each ofstatements which artificially inflated the price of

CVS stock. On September 7, 2005, Judge which had been Grace subsidiaries pre-

Tauro approved a $110 million cash settlement bankruptcy) to the W.R. Grace bankruptcy

for shareholders who acquired CVS stock

estate. Complaints in both cases were filed inmid-March 2002, and agreements in principle inbetween February 6, 2001, and October 30,

2001. both cases were reached on November 27, 2002,the last business day before trial was set to

• ScheMer v. i2 Technologies, Inc., No. 01-418 begin in the Sealed Air matter. The two(N.D. Tex.). Milberg served as lead counsel in settlements, which consisted of both cash andthis securities fraud case, filed on behalf of stock, were valued at approximately $1 billion.certain purchasers of i2 common stock. The

• Nelson v. Pacific Life Insurance Co., No. 03-plaintiffs alleged that certain of the company'ssenior executives made materially false and

131 (S.D. Ga.). Milberg served as lead counselin this securities fraud class action arising frommisleading statements and omissions in i2's

public statements and other public documents allegations of deceptive sales of deferred

regarding i2's software, thereby artificially

annuity tax shelters to investors for placementin retirement plans that are already tax-

May 2004, Milberg recovered a settlement ofinflating the price of i2's common stock. In

qualified. The court approved a $60 million

$84.85 million, settlement of claims arising from suchdeception.

• In re Royal Dutch/Shell Transport ERISA• The Firm was lead counsel in In re PrudentialLitigation, No. 04-1398 (D.N.J.). This was an

ERISA breach of fiduciary duty class action

Insurance Co. Sales Practice Litigation, No.95-4704 (D.N.J.), a landmark securities caseagainst the Royal Dutch/Shell Oil Group of

Companies on behalf of certain of the that resulted in a recovery exceeding $4 billionfor certain Prudential policyholders. Thecompanies' U.S. employee investment plan

participants. Notably, the $90 million settlement settlement was approved in a comprehensive

included important provisions regarding the Third Circuit decision.

monitoring and training of individuals • In In re NASDAQ Market-Makers Antitrustappointed to be ERISA fiduciaries. Litigation, No. 94-3996 (S.D.N.Y.), Milberg

• Milberg served as co-lead counsel in Irvine v. served as co-lead counsel for a class of

ImClone Systems, Inc., No. 02-0109 investors. The class alleged that the NASDAQ



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market-makers set and maintained wide spreads • In re Sunbeam Securities Litigation, No. 98-pursuant to an industry-wide conspiracy in one 8258 (S.D. Fla). Milberg acted as co-leadof the largest and most important antitrust cases counsel for the class. Plaintiffs alleged thatin recent history. After more than three years of Sunbeam, its auditor, and its managementintense litigation, the case sealed for a total of engaged in a massive accounting fraud which$1.027 billion, one of the largest antitrust led to a restatement of over three years ofsettlements at that time.

previously reported financial results. The courtapproved a combined settlement of more than• In re Washington Public Power Supply System

Securities Litigation, MDL 551 (D. Ariz.) was

$140 million, including a $110 millionsettlement with Arthur Andersen LLP,a massive securities fraud litigation in whichSunbeam's auditor. At that time, the AndersenMilberg served as co-lead counsel for a classsettlement was one of the largest amounts everthat obtained settlements totaling $775 million,

the largest-ever securities fraud settlement at paid by a public accounting firm to settle federalsecurities claims. The settlement with thethat time, after several months of trial.individuals was achieved on the eve of trial, and

• In re Exxon Valdez, No. 89-095 (D. Alaska) ended almost four years of litigation againstand In re Exxon Valdez Oil Spill Litigation, 3 Andersen and Sunbeam's insiders, includingAN-89-2533 (Alaska Sup. Ct. 3d Jud. Dist.). Albert Dunlap, Sunbeam's former ChairmanMilberg was a member of the Plaintiffs' and CEO. The settlement included a personalCoordinating Committee and co-chair of the contribution from Dunlap of $15 million.Plaintiffs' Law Committee in the massive

•litigation resulting from the Exxon Valdez oil In re Triton Energy Limited Securities

spill in Alaska in March 1989. Plaintiffs Litigation, No. 98-256 (E.D. Tex.). Plaintiffs

obtained a jury verdict of $5 billion, which,

alleged that defendants misrepresented, amongother things, the nature, quality, classification,after years of appeals by Exxon, was reduced toand quantity of Triton's Southeast Asia oil andapproximately $500 million by the Unitedgas reserves during the period March 30, 1998States Supreme Court. Recently the Unitedthrough July 17, 1998. The case settled for $42States Court of Appeals for the Ninth Circuitmillion.held that plaintiffs are entitled to post judgment

interest on the award in the amount of • In In re Thomas & Betts Securities Litigation,approximately $470 million. No. 00-2127 (W.D. Tenn.), the plaintiffs,

• In In re Managed Care Litigation, MDL 1334 represented by Milberg as co-lead counsel,

(S.D. Fla.). Final approval of a settlement

alleged that Thomas & Betts engaged in a seriesof accounting improprieties while publiclybetween a nationwide class of physicians and

defendant CIGNA Healthcare, valued in excess representing that its financial statements were in

of $500 million, was granted on April 22, 2004.

compliance with GAAP, and failed to discloseknown trends and uncertainties regarding itsA similar settlement valued in excess of $400

million involving a nationwide class of

internal control system and computer andinformation systems. The case settled for $46.5physicians and Aetna was approved by the courtmillion dollars in cash from the company andon November 6, 2003. The settlements stem$4.65 in cash from its outside auditor, KPMG.from a series of lawsuits filed in both state and

federal courts by physicians and medical • In re MTC Electronic Technologiesassociations against many of the nation's largest Shareholder Litigation, No. 93-0876health insurers arising from allegations that the (E.D.N.Y.). Plaintiffs alleged that defendantsinsurers engaged in a fraudulent scheme to issued false and misleading statementssystematically obstruct, reduce, delay, and deny concerning, among other things, purported jointpayments and reimbursements to health care venture agreements to establishproviders. These settlements brought sweeping telecommunications systems and manufacturechanges to the health care industry and telecommunications equipment in China. Thesignificant improvements to physician-related court approved a settlement of $70 million,business practices.



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including $65 million in cash and $5 million amendment of the company's bylaws to permit

worth of MTC Class A shares with "put" rights, certain long-term substantial shareholders to

• In In re PaineWebber Limited Partnerships propose, in the Company's own proxy

Litigation, No. 94-8547 (S.D.N.Y.). Milberg materials, nominees for election as directors

represented investors alleging that PaineWebber (proxy access); and the requirement that all

developed, marketed, and operated numerous equity grants be approved by both theCompensation Committee and a majority of theinvestment partnerships as part of an ongoing

conspiracy to defraud investors and enrich itself non-employee members of the Board.

through excessive fees and commissions over a • In re Topps Co., Inc. Shareholder Litig., No.

twelve-year period. On March 20, 1997, Judge 600715/2007 (N.Y. Sup. Ct. N.Y. Cty. Apr. 17,

Sidney Stein approved a $200 million 2007). Milberg served as co-lead counsel in

settlement, consisting of $125 million in cash this transactional case, which led to a 2007

and $75 million worth of guarantees and fee decision vindicating the rights of shareholderswaivers, under the rules of comity and the doctrine of

• In Andrews v. AT&T, No. 91-175 (S.D. Ga.) the forum non convenzens to pursue claims in themost relevant forum, notwithstanding the factFirm represented a class of persons who paid forthat jurisdiction might also exist in the state ofpremium-billed "900-number" calls that

involved allegedly deceptive games of chance, incorporation. This case was settled in late

starting in 1993. Defendants included major 2007 in exchange for a number of valuabledisclosures for the class.long-distance companies, which approved the

call programs and billed for the calls. • In re Marketspan Corporate ShareholderDefendant MCI settled for $60 million in Litigation, No. 15884/98 (N.Y. Sup. Ct. Nassau

benefits. The class against AT&T was Cty.). The settlement agreement in this

decertified on appeal and the Firm prosecuted derivative case required modifications of

the individual plaintiffs' claims, obtaining a jury corporate governance structure, changes to the

verdict in 2003 for compensatory and punitive audit committee, and changes in compensationdamages. awards and to the nominating committee.

In the context of shareholder derivative • In re Trump Hotels Shareholder Derivativeactions, Milberg has protected shareholder Litigation, No. 96-7820 (S.D.N.Y.). In this

investments by effectuating important changes in case, the plaintiff shareholders asserted various

corporate governance as part of the global settlement derivative claims on behalf of the company

of such cases. Cases in which such changes were against certain Trump entities and senior Trumpmade include: executives in connection with the self-serving

• In re Comverse Technology, Inc. Derivative sale of a failing casino to the company in whichthe plaintiffs held stock. Milberg negotiated aLitigation, No. 601272/2006 (N.Y. Sup. Ct.settlement on behalf of the plaintiffs thatN.Y. Cty.). On December 28, 2009, Milberg

announced a $62 million settlement for the required Donald Trump to contribute asubstantial portion of his personal interest in aderivative plaintiffs, which was approved by thepageant he co-owned. In addition, theCourt on June 23, 2010. The settlement alsosettlement required the company to increase theresulted in significant corporate governance

reforms, including the replacement of the number of directors on its board, and certainfuture transactions had to be reviewed by aoffending directors and officers with new

independent directors and officers; the special committee.


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PRECEDENT-SETTING DECISIONS

Milberg has consistently been a leader in • Ahdullahi v. Pfizer, Inc., 562 F.3d 163, 170 (2d

developing the federal securities, antitrust, and Cir. 2009). In this matter, the plaintiffs,

consumer protection laws for the benefit of investors Nigerian children and their families,

and consumers. The Firm has represented individual asserted claims under the Alien Tort Statute

and institutional plaintiffs in hundreds of class action ("ATS") in connection with Pfizer's clinical

litigations in federal and state courts throughout the trial of the drug, Trovan, without their

country. In most of those cases, Milberg has served knowledge. In January 2009, the Second

as lead or co-lead counsel. The Firm has also been Circuit reversed the District Court's dismissal

responsible for establishing many important for lack of jurisdiction. The court held that theprecedents, including the following: plaintiffs pled facts sufficient to state a cause of

action under the ATS for a violation of• In Merck & Co., Inc. v. Reynolds (U.S. 2010), international law prohibiting medical

Milberg, along with other co-lead counsel, won experimentation on human subjects withouta significant victory before the U.S. Supreme their consent. Pfizer's petition for review of theCourt, which issued a decision addressing when Second Circuit's ruling by the United States

an investor is placed on "inquiry notice" of a Supreme Court is currently pending.securities fraud violation sufficient to trigger the

statute of limitations under 28 U.S.C. § 1658(b). • In re Comverse Technology, Inc. Derivative

The Court unanimously ruled that the two-year Litigation, 866 N.Y.S.2d 10 (App. Div. 1st

statute of limitations was not triggered because Dep't 2008). In this derivative case in which

plaintiffs did not have actual or constructive Milberg serves as co-lead counsel, plaintiff

knowledge of "the facts constituting the shareholders sued certain of the company's

violation," and as such, the case was not time- officers and directors based on allegations of

barred. Importantly, the Court held that the illegal options backdating. The lower court

plaintiff must be on actual or constructive notice dismissed the plaintiffs' claims, holding that the

of facts concerning the defendants' scienter in plaintiffs failed to make a pre-suit demand on

order to trigger the statute of limitations. This the company's board, and that in any event, the

decision is significant in that it potentially board had already formed a special committee

enables plaintiffs to bring claims based on to investigate the misconduct. In this significantmisstatements that are more than two years old. opinion reversing the lower court's dismissal,

the Appellate Division clarified the standards of• In re Lord Abbett Mutual Funds Fee demand futility and held that a board of

Litigation, 553 F.3d 248 (3d Cir. 2009). This directors loses the protection of the businessimportant decision set significant precedent judgment rule where there is evidence of theregarding the scope of preemption under the directors' self-dealing and poor judgment. TheSecurities Litigation Uniform Standards Act of court noted that the mere creation of a special1998 ("SLUSA"). In reversing the District committee did not justify a stay of the action

Court's dismissal of the plaintiffs' claims, the and did not demonstrate that the board tookThird Circuit held that "SLUSA does not appropriate steps. Rather, "the picturemandate dismissal of an action in its entirety presented in the complaint is that of a specialwhere the action includes only some pre-empted committee taking a tepid rather than a vigorousclaims." In so holding, the court explained that approach to the misconduct and the resultant"nothing in the language, legislative history, or harm. Under such circumstances, the boardrelevant case law mandates the dismissal of an should not be provided with any specialentire action that includes both claims that do protection."not offend SLUSA's prohibition on state lawsecurities class actions and claims that do ... ." • South Ferry LP #2 v. Killinger, 542 F.3d 776

(9th Cir. 2008). The important opinion issuedby the Ninth Circuit in this securities fraud class


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action clarified, in the post-Tellabs having been adequately alleged to be false andenvironment, whether a theory of scienter based material, in pleading scienter in conformity withon the "core operations" inference satisfies the the requirements of the PSLRA. We thereforePSLRA's heightened pleading standard. In adhere to our decision to reverse the judgmentsiding with the plaintiffs, represented by of the district court dismissing the suit." TheMilberg, the Ninth Circuit held that unanimous decision was written by Judge"Ialllegations that rely on the core operations Richard A. Posner.inference are among the allegations that may be • Asher v. Baxter International, Inc., 377 F.3dconsidered in the complete PSLRA analysis." 727 (7th Cir. 2004). In reversing andThe court explained that under the "holistic" remanding the District Court's dismissal, theapproach required by Tellabs, all allegations Seventh Circuit resolved in plaintiffs' favor anmust be "read as a whole" in considering important issue involving the PSLRA's "safewhether plaintiffs adequately plead scienter. harbor" for forward-looking statements. TheAfter remand, the District Court found that the court held that whether a cautionary statement isplaintiffs sufficiently alleged scienter under the meaningful is an issue of fact, because whetherNinth Circuit's analysis. a statement is meaningful or not depends in part

• In re Gilead Sciences Securities Litigation, 536 on what the defendant knew when the statementF.3d 1049 (9th Cir. 2008). In this securities was made as well as other issues of fact. Thus,fraud class action in which Milberg represents this issue is not appropriately resolved on athe plaintiffs, the Ninth Circuit reversed the motion to dismiss.District Court's dismissal of the complaint in • Gehhardt v. ConAgra Foods, Inc., 335 F.3dthis opinion clarifying loss causation pleading 824 (8th Cir. 2003). This important decisionrequirements. In ruling that the plaintiffs strongly reaffirmed the principle that whether anadequately pled loss causation, the Ninth Circuit undisclosed fact would have been material toheld that the plaintiffs' complaint identified a investors cannot ordinarily be decided on a"specific economic loss" following the issuance motion to dismiss. The Eighth Circuit, stressingof a specific press release, along with that "[t]he question of materiality hinges on theallegations of misrepresentations that were particular circumstances of the company indescribed in "abundant detail." The opinion question," observed that even relatively smallestablished that plaintiffs in a securities fraud errors in financial statements might be materialaction adequately plead loss causation where if they concern areas of particular importance tothey provide sufficient detail of their loss investors and raise questions about managementcausation theory and some assurance that the integrity.theory has a basis in fact. Based on thisanalysis, the dismissal was reversed, and the • In re Cahletron Systems, Inc., 311 F.3d 11 (1stcase was remanded to the District Court for Cir. 2002). In this opinion, the First Circuitfurther proceedings. joined the Second Circuit in allowing a

complaint to be based on confidential sources.• In Tellahs, Inc. v. Makor Issues & Rights, Ltd, The court also accepted the argument made by

551 U.S. 308 (2007), in which Milberg is lead plaintiffs, represented by Milberg, that courtscounsel for the class, the United States Supreme should consider the amount of discovery takenCourt announced a uniform standard for place prior to deciding a motion to dismiss, withevaluating the sufficiency of a complaint under a lack of discovery resulting in athe PSLRA. The court held that on a motion to correspondingly less stringent standard fordismiss, a court "must consider the complaint in pleading securities fraud claims withits entirety," accepting "all factual allegations in particularity.the complaint as true," as well as "tatt[ing] intoaccount plausible opposing inferences." On • In Puckett v. Sony Music Entertainment, No.remand, the Seventh Circuit concluded that "the 108802/98 (N.Y. Sup. Ct. N.Y. Cty. 2002), aplaintiffs have succeeded, with regard to the class action was certified against Sony Musicstatements identified in our previous opinion as Entertainment on behalf of a class of recording

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artists who were parties to standard Sony "hedging" techniques to insure against risk ofrecording or production agreements entered into loss. In the court's view, taken together and induring the class period. The complaint alleged context, the Trust's representations would havethat Sony had a policy of treating the value misled a reasonable investor.added tax on foreign sales of recordings • In Shaw v. Digital Equipment Corp., 82 F.3dimproperly thereby impermissibly reducing the 1194 (1st Cir. 1996), the First Circuit remandedroyalties paid or credited to the class members. plaintiffs' action after affirming, in part,Justice DeGrasse of the New York State Milbergs' position that in association with theSupreme Court determined that class filing of a prospectus related to the issuance ofcertification was appropriate and that Gary securities, a corporate-issuer must disclosePuckett (of Gary Puckett & the Union Gap) and intra-quarter, materially adverse changes in itsjazz musician and composer Robert Watson business, if such adverse changes constitutewere appropriate class representatives to "material changes" the disclosure of which isrepresent the class of artists and producers to required pursuant to the Securities Act of 1933.whom Sony accounts for foreign recordroyalties.

• In re Salomon, Inc. Shareholders DerivativeLitigation, 68 F.3d 554 (2d Cir. 1995). The

• Novak v. Kasaks, 216 F.3d 300 (2d Cir. 2000). Second Circuit affirmed the District Court'sThe Firm was lead counsel in this seminal holding that derivative federal securities claimssecurities fraud case in which the Second against defendants would not be referred toCircuit undertook an extensive analysis of the arbitration pursuant to the arbitration provisionsstatutory text and the legislative history of the of the Rules of the New York Stock Exchange,PSLRA and pre-existing Second Circuit case but would be tried in District Court. Shortlylaw. Among other things, the Second Circuit thereafter, the case sealed for $40 million.held that the PSLRA's pleading standard forscienter was largely equivalent to the pre- • Kamen v. Kemper Financial Services, 500 U.S.existing Second Circuit standard and vacated 90 (1991). The Supreme Court upheld the rightthe District Court's dismissal which sought to of a stockholder of a mutual fund to bring aimpose a higher standard for pleading scienter derivative suit without first making a pre-suitunder the PSLRA. The Second Circuit also demand. Specifically, the Court held thatrejected any general requirement that plaintiffs' "where a gap in the federal securities laws mustconfidential sources must be disclosed to satisfy be bridged by a rule that bears on the allocationthe PSLRA ' s newly-enacted particularity of governing powers within the corporation,requirements.

federal courts should incorporate state law intofederal common law unless the particular state

• In re Advanta Corp. Securities Litigation, 180 law in question is inconsistent with the policiesF.3d 525 (3d Cir. 1999). Here, the plaintiffs, underlying the federal statute. . . . Because arepresented by Milberg, successfully argued that futility exception to demand does not impedeunder the PSLRA, scienter is sufficiently pled the regulatory objectives of the [Investmentby making an adequate showing that the Company Act], a court that is entertaining adefendants acted knowingly or with reckless derivative action under that statute must applydisregard for the consequences of their actions. the demand futility exception as it is defined byThe Third Circuit specifically adopted the the law of the State of incorporation."Second Circuit's scienter pleading standard forpleading fraud under the PSLRA.

• Mosesian v. Peat, Marwick, Mitchell & Co.,727 F.2d 873 (9th Cir. 1984), cert. denied, 469

• In Hunt v. Alliance North American U.S. 932 (1984). The Ninth Circuit upheld anGovernment Income Trust, Inc., 159 F.3d 723 investor's right to pursue a class action against(2d Cir. 1998), the Second Circuit reversed the an accounting firm, adopting statute ofDistrict Court's ruling, which denied plaintiffs limitation rules for Section 10(b) suits that areleave to amend to assert a cause of action favorable to investors.against defendants for failing to disclose that thedefendant Trust was unable to utilize proper

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• Masan v. Cleve Trust Realty Investors, 729 F.2d artificially inflated prices to recover even if they372 (6th Cir. 1984). The Sixth Circuit very were personally unaware of the false andstrictly construed, and thus narrowed, the ability misleading statements reflected in the stock'sof a "special litigation committee" of the board price. In so holding, the court noted that classof a public company to terminate a derivative actions are necessary to protect the rights ofaction brought by a shareholder. defrauded purchasers of securities.

• Fox v. Reich & Tang, Inc., 692 F.2d 250 (2d • Bershad v. McDonough, 300 F. Supp. 1051Cir. 1982), aff'd sub nom, Daily Income Fund, (ND. Ill. 1969), aff'd, 428 F.2d 693 (7th Cir.Inc. v. Fox, 464 U.S. 523 (1984). The court 1970). In this case, the plaintiff, represented byheld that a Rule 23.1 demand is not required in Milberg, obtained summary judgment on aa shareholder suit brought pursuant to Section claim for violation of Section 16(b) of the36(b) of the Investment Company Act. Securities Exchange Act, where the transaction

• Rifkin v. Crow, 574 F.2d 256 (5th Cir. 1978). at issue was structured by the defendants to looklike a lawful option. The decision has beenThe Fifth Circuit reversed an order grantingcited frequently in discussions as to the scopesummary judgment for defendants in a Section

10(b) case, paving the way for future acceptance and purpose of Section 16(b).

of the "fraud-on-the-market" rationale in the • Heit v. Weitzen, 402 F.2d 909 (2d Cir. 1968).Fifth Circuit. The court held that liability under Section 10(b)

of the Securities Exchange Act extends to• Blackie v. Barrack, 524 F.2d 891 (9th Cir.defendants, such as auditors, who were not in1975), cert. denied, 429 U.S. 816 (1976). Thisprivity with the named plaintiffs or the classis the seminal appellate decision on the use of

the "fraud-on-the-market" theory of reliance, represented by the named plaintiffs.

allowing investors who purchase stock at


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Partners

JEROME M. CONGRESS received an A.B. related claims against Ernst & Whinney just beforedegree with honors from Cornell University. From closing arguments to the jury in late 1992. He has1960 to 1962, he was a Fulbright Scholar at Oxford since worked on many of the Firm's securities fraudUniversity, England, where he studied philosophy, cases, and cases in other areas, includingpolitics and economics. He received an LL.B. representation of a broad coalition of union healthdegree cum laude from Harvard Law School, where care funds seeking to recover costs for treatinghe was an editor of Harvard Law Review during smoking-related illnesses from the tobacco1963-1964. industry; Year 2000 litigation; cases involving

Since graduating from law school, Mr. alleged kickbacks in the mortgage insuranceindustry; and consumer and securities fraud casesCongress has spent the bulk of his practice in

commercial and securities litigation,

against insurance companies selling deferredannuities into qualified retirement plans.

Mr. Congress is admitted to practice in theHe was one of the principal trial counsel forcourts of the State of New York, as well as the

United States District Courts for the Southern andplaintiffs in In re Vivendi, S.A. Securities Litigation(S.D.N.Y.), a securities fraud class action in whichEastern Districts of New York and the United Statesthe jury returned a multi-billion-dollar verdict inCourt of Appeals for the Second Circuit.January 2010. He is presently handling post-trial

MICHAEL C. SPENCER graduated from Yale motions and defendant's anticipated appeal. TheUniversity in 1973 with a B.A. degree, magna cum case is notable for the size of the verdict and forlaude, with distinction, in philosophy. While at inclusion of investors from France, England, andYale, he was elected to Phi Beta Kappa. Mr. the Netherlands, as well as the United States, in theSpencer received a J.D. degree from Harvard Law certified class. The results of this case are expectedSchool, cum laude, in 1976. to have a broad impact on future securities fraud

class action litigation in the U. S. andMr. Spencer focuses his practice primarily oninternationally.class actions on behalf of defrauded investors and

consumers, as well as complex commercial Mr. Spencer is admitted to practice in thelitigation, courts of the States of New York and California, as

well as the United States District Courts for theMr. Spencer began his legal career as a lawSouthern and Eastern Districts of New York, theclerk to the Honorable Wm. Matthew Byrne Jr.,Central District of California, and the United StatesUnited States District Court, Central District ofCourts of Appeals for the Second, Third, Fourth,California, in 1976-77. He then returned to NewSeventh, Ninth, Eleventh, and D.C. Circuits.York and joined Cravath, Swaine & Moore as an

associate, where he worked until 1986 on antitrust, ROBERT A. WALLNER received his B.A.banking, real estate, commercial, and securities degree from the University of Pennsylvania in 1976litigation matters. In his later years at Cravath, he graduating magna cum laude. He attended Newrepresented the bond fund trustee in connection York University School of Law, earning his J.D.with bond defaults of Washington Public Power degree in 1979. He was elected to the law school'sSupply System nuclear plants. Order of the Coif and served as an editor of New

York University Law Review.In 1986, he joined Milberg as an associate andbecame a partner later that year. He worked on the Prior to joining Milberg, Mr. Wallner wasWPPSS securities fraud litigation and many of the associated with Cravath, Swaine & Moore.Firm's other cases, including representation of the

While at Milberg, Mr. Wallner has litigatedFDIC in its failed bank audit litigation involving the

complex securities, consumer, and antitrust classButcher Brothers banks in Tennessee, which led toactions throughout the country. He currentlya year-long trial and a global settlement of all bank-represents investors in In re Initial Public Offering

Milberg LLP Attorney Biographies


Securities Litigation (S.D.N.Y) and in lawsuits Mr. Dumain has lectured for ALT-ABA

arising out of the Madoff Ponzi scheme. He has concerning accountants' liability and has

also represented investors in In re CMS Energy prosecuted several actions against accounting firms.Corporation Securities Litigation (E.D. Mich.) and Judge Janet C. Hall of the District ofIn re Deutsche Telekom Securities Litigaton Connecticut made the following comment in In re(S.D.N.Y.), and consumers in In re Synthroid Fine Host Securities Litigation (No. 97-2619): "TheMarketing Litigation (N.D. Ill.) and the Mercedes- court also finds that the plaintiff class receivedBenz Tire Litigation (D.N.J.). excellent counseling, particularly from the Chair of

Mr. Wallner is a frequent lecturer on securities the Plaintiffs' Executive Committee, Attorney

and complex litigation issues, and serves on the Dumain."editorial board of Securities Litigation Report, Mr. Dumain is admitted to practice in the Statepublished by West Legalworks. He served as a

of New York, United States District Court for themember of the Federal Courts Committee of the

Southern and Eastern Districts of New York,Association of the Bar of the City of New York, District of Colorado, and District of Connecticut,and as a faculty member of the American Bar and United States Courts of Appeals for the First,Association's First Annual National Institute on Second, Third, Sixth, Seventh, and Eighth Circuits.Securities Litigation and Arbitration. Mr. Wallner

is a member of the New York bar. He was recently Mr. Dumain is the Chair of the Firm's

recognized in Lawdragon's "100 Lawyers You Executive Committee.Need to Know in Securities Litigation."

GEORGE A. BAUER III earned his B.B.A.degree magna cum laude in 1976 from Bernard M.

SANFORD P. DUMA1N attended Columbia Baruch College of the City University of New

University where he received his B.A. degree in York, where he majored in accounting. He was

1978. He graduated cum laude from Benjamin N. awarded the Andrew J. Coppola prize in Law from

Cardozo School of Law of Yeshiva University in Baruch College. Mr. Bauer attended New York1981. University School of Law and graduated with a J.D.

degree in 1979.Mr. Dumain represents plaintiffs in cases

involving securities fraud, consumer fraud, Mr. Bauer's practice concentrates on class

insurance fraud, and violations of the antitrust laws. action settlements and settlement administration.He has played a lead role in documenting and

Mr. Dumain was co-lead counsel in the Tycoeffectuating many of the largest and most complex

Securities Litigation in which $3.2 billion wassecurities litigations settlements ever obtained,

recovered for investors. Mr. Dumain also served asnotably including: the $3.2 billion cash settlementlead counsel in the securities class actions againstin In re Tyco International Ltd., SecuritiesNortel and Biovail, which are the highest and thirdLitigation, MDL 02-1335-PB (U.S.D.C., N.H.); the

highest recoveries ever in cases involving Canadian$1.14 billion settlement for cash and stock of the Incompanies. The Nortel settlement was valued atre Nortel Networks Corp. Securities Litigation No.

over $1 billion and Biovail sealed for over $138

million in cash. Mr. Dumain successfully01-1855 (S.D.N.Y.); the $1.027 billion settlementof the In re NASDAQ Market-Makers Antitrust

represented the City of San Jose, California againstLitigation, MDL No. 1023, (S.D.N.Y.); settlements13 of the City's broker-dealers and its outside

accountants in connection with major losses in relating to the $2 billion estate of Drexel BurnhamLambert, including In re Drexel Burnham Lambertunauthorized bond trading.Group, No. 90-6954 (S.D.N.Y.) and the $1.3 billion

Mr. Dumain began his career as a law clerk to settlement of the In re Michael Milken & AssociatesJudge Warren W. Eginton, United States District Securities Litigation, MBE 924 (S.D.N.Y.);

Court for the District of Connecticut 1981-1982. settlements worth over $775 million in In reDuring the early years of his practice, he also Washington Public Power Supply Systemsserved as an Adjunct Instructor in Legal Writing Securities Litigation, MDL 551 (D. Ariz.);

and Moot Court at Benjamin N. Cardozo School of settlements including cash and securities worth overLaw. $615 million in In re Lucent Technologies Inc.

Milberg LLP Attorney Biographies 2


Securities Litigation, No. 00-621 (D. N.J.); the Since joining Milberg in 1989, Mr. Weprin hassettlement for cash and securities worth over $460 specialized in securities and insurance litigation.million in In re Raytheon Securities Litigation, No. He has served as co-lead counsel in a number of99-12142 (D. Mass.); the $334 million settlement in complex securities class action litigations, includingIn re Rite Aid, Securities Litigation, Master File No. In re AremisSoft Securities Litigation (D.N.J.), In re99-1349 (E.D.PA); the $300 million settlement in All Star Inns Securities Litigation (S.D.N.Y.), In reIn re Oxford Health Plans Inc., Securities York Research Securities Litigation (S.D.N.Y.), andLitigation, MDL No. 1222 (CLB) (S.D.N.Y.; the Bharucha v. Reuters, PLC (E.D.N.Y.). He was one$215 million settlement of In re Sears Roebuck & of the principal attorneys in the sales practiceCo., Securities Litigation, No. 02-7527 (N.D. Ill.); litigations against The New York Life Insurancethe $200 million settlement in In re PaineWebber Company, The New England Life InsuranceLimited Partnerships Litigation, No. 94-8547 Service Company, The John Hancock Mutual Life(S.D.N.Y.); the settlement for cash and securities Insurance Company, and The Prudential Lifeworth over $137.5 million in In re Microstrategy Insurance Company.Inc. Securities Litigation, No. 00-473 (ED. Va,

Previously, Mr. Weprin served as law clerk toAlexandria Division); the settlements for securities

the Honorable Charles P. Sifton of the United Statesworth over $133.5 million in In re Computer

District Court for the Eastern District of New York.Associates Class Action Securities Litigation, No.

Prior to joining Milberg, he was associated with the98-4839, and In re Computer Associates 2002 Class law firm of Wachtell Lipton Rosen & Katz, whereAction Securities Litigation, No. 02-1226 he specialized in commercial and securities(E.D.N.Y.); and the $110 million settlement in In re litigation. From 1985 to 1989 he served as generalPrudential Securities Inc. Limited Partnerships counsel to the New York State Housing FinanceSecurities Litigation, MDL 1005 (S.D.N.Y.).

Agency and the New York State Medical Care

Mr. Bauer was admitted as a member of the Facilities Finance Agency, two agencies that issueNew York bar in January 1980 and is also admitted tax exempt bonds for financing nonprofit medicalto the United States District Court for the Southern facilities and qualified housing projects.and Eastern Districts of New York. Mr. Bauer is In approving the settlement in the Allstar Innsadmitted to practice before the United States case, Judge Peter Leisure stated:Supreme Court and the United States Courts ofAppeals for the Second and Fourth Circuits. We have a situation here which is a classic

example of the benefits to be derived through theMr. Bauer is a member of the Firm's Library

class action vehicle, to have the high qualityCommittee He is also a member of the American representation of the class. The reputation ofBar Association, the New York State Bar counsel . . . Barry Weprin of Milberg Weiss,Association, the American Association for Justice,

precedes them to this court and I'm familiar in otherand the New York County Lawyers Association.

matters with the case in which these lawyers work.Mr. Bauer is a member of the Board of the The class was indeed fortunate to have lawyers

Association for the Help of Retarded Citizens, Inc., of this caliber on this matter and the court isa non-profit IRS 501(c)(3) qualified charitable satisfied that the class was well-represented and hadorganization, dedicated to the optimization of the the benefits of the quality of representation thatprospectus for persons with developmental would not have otherwise been available if the classchallenges. action vehicle had not been used.

BARRY A. WEPRIN graduated from HarvardMr. Weprin is a frequent lecturer on complex

College in 1974. He received a J.D. degree from litigation issues.the New York University School of Law in 1978,and a master of public affairs from the Woodrow Mr. Weprin is a member of the American BarWilson School of Princeton University in 1978. Association, the Association of the Bar of the CityWhile in law school, Mr. Weprin was notes and of New York, the New York County Lawyerscomments editor of New York University Law Association, and the New York State BarReview. Association. Mr. Weprin is admitted to practice in

New York, the United States District Court for the



Southern and Eastern Districts of New York, the Mr. Friedman is a member of the Firm'sUnited States Court of Appeals for the Second Executive Committee. He is also a member of theCircuit, and the United States Supreme Court. Federal Bar Council, the American Bar Association,

the American Trial Lawyer Association, the NewRICHARD H. WEISS received an A.B. degree

York State Bar Association and the New York Citysumma cum laude from Princeton University inBar Association.1979. In 1980, he received an M.Phil. degree in

international relations from Cambridge University, JOSHUA H. VINIK graduated with honors fromEngland. He graduated from Yale Law School in the State University of New York at Oneonta in1983. 1983, where he majored in economics. After

graduating cum laude from Brooklyn Law School,Richard Weiss has been at Milberg since 1990,

Mr Vinik clerked for Magistrate (now Judge) Caroland has been a partner of the Firm since 1993. His

B. Amon of the United States District Court for thepractice focuses primarily on class actions on behalf

Eastern District of New York.of defrauded investors, as well as other complexcivil litigation. Mr. Weiss currently is one of Mr Vinik's practice focuses primarily on classplaintiffs' lead counsel in Makor Issues & Rights, actions on behalf of defrauded investors, as well asLtd. v. Tellabs, Inc. (N.D. Ill.), in which the United complex commercial litigation, includingStates Supreme Court set the pleading standard for accountants' liability actions and derivative actions.all federal securities fraud cases. Mr. Weiss is also Mr Vinik's extensive litigation efforts on behalf ofone of the attorneys leading the prosecution of the aggrieved investors include many actions whichMerckNioxx securities litigation, have led to significant recoveries for investors,

including In re Baan Securities Litigation (D.D.C.);Mr. Weiss is admitted to practice in the UnitedStates District Courts for the Southern and Eastern Lasky v. Brown (United Companies Financial

Securities Litigation) (M.D. La.), Kaufman v.Districts of New York, the United States Court ofMotorola, Inc. (N.D. Ill.), and In re Salomon Inc.Appeals for the Second Circuit and various otherShareholders Derivative Litigation (S.D.N.Y.).federal appellate courts, and the United States

Supreme Court. Mr. Weiss is a member of the Mr Vinik is a member of the American BarFirm's Diversity Committee.

Association, The New York State Bar Associationand the Association of the Bar of the City of NewYork. Mr Vinik is admitted to practice in theBRAD N. FRIEDMAN specializes in variouscourts of the State of New York, as well as thecomplex commercial matters, including securities,United States District Courts for the Southern andbankruptcy, consumer, and life insurance classEastern Districts of New York and the United Statesactions. Mr. Friedman began his legal career as aCourts of Appeals for the Second, Third, and Fifthclerk to the Honorable Max Rosenn, United StatesCircuits.Court of Appeals for the Third Circuit. Mr.

Friedman has recovered billions of dollars on behalf JEFF S. WESTERMAN received his B.A. degreeof injured plaintiffs, including as lead counsel in from Northwestern University in 1977, where henumerous "vanishing premium" and "churning" life was selected to be a member of two senior honoraryinsurance sales practice class actions (including societies. He received his J.D. degree from thecases against Prudential and Metropolitan Life). In University of Pittsburgh in 1980, where he was a2002, Mr. Friedman acted as lead counsel on behalf member of the Law Review.of various asbestos committees in the W.R. Grace

Mr. Westerman's practice is primarily in thebankruptcy and successfully recoveredareas of securities fraud, consumer, and antitrustapproximately $1 billion through a fraudulentclass actions, shareholder derivative actions, andconveyance litigation that settled on the eve of trial.

In Xerox he recovered $750 million for corporate mergers and acquisitions litigation. Hehas served as lead or co-lead counsel in casesshareholders. Mr. Friedman is currently

representing numerous individuals and resulting in significant corporate governancechanges, and resulting in recoveries and recognizedorganizations victimized by the Bernard Madoffincreased value to plaintiffs totaling more than $800ponzi scheme.million. In 2005, The Daily Journal recognized



him as one of the top 30 securities litigators in JANINE L. POLLACK graduated from RutgersCalifornia. University in 1986, with high honors, with a B.A.

Mr. Westerman regularly serves as a moderator She majored in English and French and was amember of Phi Beta Kappa. In 1989, Ms. Pollackor speaker for programs on complex litigation,earned her J.D. from the University of Pennsylvaniadevelopments in class action practice, settlements,School of Law, where she was a member of thethe Sarbanes-Oxley Corporate Responsibility Act,International Journal of Business Law.shareholder derivative actions, and trends in

business litigation. Janine L. Pollack has successfully prosecuted

Mr. Westerman was a member (2001-2003)many securities and consumer cases, and recentlywas one of the lead counsel in a trial in federal

and Co-Chair (2002-2003) of the Central District ofcourt against a major mutual fund advisor. Ms.

California Attorney Delegation to the United StatesPollack is a member of the Firm's Hiring and

Ninth Circuit Judicial Conference. He serves on theCentral District of California, U.S. Magistrate

Assignment Committees. She also runs the Firm's

Judge Merit Selection Panel (2003-present) and the mentor program for all associates. In addition, she

standing committee on Attorney Discipline (2004- is in charge of the Firm's quarterly newsletter, In

present). He is also a member of the Central Brief and the Firm's CLE program. She is also thefounder and co-chair of the Firm's Women'sDistrict of California Attorney Settlement OfficerCommittee, which focuses on fosteringPanel (1998-present).relationships within and outside of the Firm

Mr. Westerman was the president of the between and among women.Association of Business Trial Lawyers (2004-

Ms. Pollack is co-chair of the Women's2005); a member of the Board of Governors (1997-Initiative of the National Association of2005), Treasurer (2001-2002), Secretary (2002-Shareholder & Consumer Attorneys (NASCAT),2003), and Vice President (2003-2004). He is alsofor which she organizes meetings and charityon the Board of Governors of the Consumerevents. She is also co-chair of the New York CityAttorneys Association of Los Angeles (2003-

present). Bar Cy Pres Committee, which seeks to ensure thecharitable distribution of class action funds

Mr. Westerman is the Secretary of the Los remaining after the completion of the claimsAngeles County Bar Executive Committee for the process. A frequent public speaker, Ms. PollackLitigation Section, a member of the Bench-Bar has given lectures on such topics as Cy Pres, timeCivil Courts Committee, and a member of the and stress management, securities regulation, andBoard of the Los Angeles Chapter of the Federal other related topics.Bar Association. He is also past Chair of the LA

Ms. Pollack is admitted to bars of the States ofCounty Bar Complex Courts Bench-BarNew York and New Jersey. She is admitted toCommittee, and he served as Judge Pro Tem in thepractice before the United States District Courts forLos Angeles Small Claims Court in 1987-1988,the District of New Jersey and the Southern and1990, 1992-1993, and 1996-1997. He is a memberEastern Districts of New York.of the Los Angeles County and Federal Bar

Associations. He was on the California State Bar KIRK E. CHAPMAN graduated cum laude fromTask Force on Complex Litigation, and Chair of the Harvard University in 1985 with a B.A. degree inJudicial Education Subcommittee (1997). He is one biochemistry. He received his J.D. in 1989 fromof Lawdragon's 3000 Leading Plaintiffs' Lawyers the University of Chicago where he was a memberIn America (2007- 2010).

of the Legal Forum publication. Mr. Chapman'smajor practice areas are securities fraud classactions and employment discrimination matters.Mr. Westerman is admitted to practice in the

courts of the State of California, as well as the Mr. Chapman is admitted to practice in theUnited States District Courts in California, the Courts of the State of New York as well as theUnited States Court of Appeals for the Ninth United States District Courts for the Southern andCircuit, and the United States Supreme Court. Eastern Districts of New York.



ARIANA J. TADLER has been a partner at University Law Center - Federal Judges E-

Milberg LLP since January 2001 and is an elected Discovery Training Program (September 2009);

member of the Firm's Executive Committee. She Federal Bar Council - 2009 Winter Bar & Bench

has extensive experience litigating complex Conference (February 2009).securities class actions, including high profile, fast- Ms. Tadler chairs the Firm's E-Discoverypaced cases. She is also widely recognized as a Committee, co-chairs the Firm's Outreachspecialist in electronic discovery. Committee and is a member of the Hiring,

Ms. Tadler' s accomplishments include Diversity, Technology, and Women's Committees.

litigation of three cases in the Eastern District of She is a member of the American Bar Association,

Virginia (a/k/a the "Rocket Docket") in less than the American Association for Justice, the New York

four years, including In re MicroStrategy Securities State Bar Association, the New York County

Litigation, in which plaintiffs' counsel negotiated Lawyers Association, the Federal Bar Council, the

settlements valued at more than $150 million. Ms. New York Women's Bar Association, and The New

Tadler is one of the court appointed plaintiffs' York Inn of Court.liaison counsel in the Initial Public Offering Ms. Tadler is also involved in various charitySecurities Litigation, in which the court approved a and community organizations. She currently serves$586 million cash settlement in October 2009

on the Executive Committee of MFY Legal(appeal pending). Among the thousands of Services, Inc., a non-profit organization that seeksdefendants in this coordinated action are 55 to provide disadvantaged New Yorkers equal accessprominent investment banks and more than 300 to the judicial system through community-basedcorporate issuers. representation.

Ms. Tadler is co-chair of the Steering Ms. Tadler graduated from Hamilton CollegeCommittee for The Sedona Conference') Working in 1989. In 1992, she received her J.D. fromGroup I on Electronic Document Retention and Fordham University School of Law, where she wasProduction, the leading "think tank" on e-discovery. the Articles and Commentary Editor of theShe also serves on the Advisory Board of Fordham Urban Law Journal, a member of theGeorgetown University Law Center's Advanced E-

Moot Court Board, and the 1990 recipient of theDiscovery Institute.

American Jurisprudence Award in Criminal Law.Ms. Tadler maintains an "AV" for her legal

LORI G. FELDMAN is a daughter of retiredability, the highest rating available in Martindale- public employees and understands the importanceHubbell's peer review rating system. Recognized of protecting the investments of employees, as wellin the past by Lawdragon, Ms. Tadler has been as the general public, against corporate fraud andselected as one of the 2010 Lawdragon 500 Leading breaches of fiduciary duty.Lawyers in America.

In addition to lecturing on class action practice,Ms. Tadler regularly chairs or lectures at Ms. Feldman has served as co-chair of the

national and international conferences. Ms. Continuing Legal Education Committee of theTadler's notable speaking engagements include: Federal Bar Association for the Western District ofDuke University School of Law: 2010 Advisory Washington. She was also named a "Rising Star ofCommittee Conference on Civil Rules (May 2010);

Washington Law" by practitioners in Seattle.State Bar of Texas E-Discovery and Digital

Recently, Ms. Feldman has participated as panelEvidence Institute (May 2010); The Sedona

faculty in national continuing legal educationConference - 12th Annual Conference on Complex

programs on ERISA and securities fraud classLitigation (April 2010); Georgetown University

actions arising from the subprime and liquidityLaw Center - 2010 E-Discovery Training Academy crisis.(March 2010); Italy: IV Seminario Ul Diritto Dei

Consumi (Seminar on Consumer Law - "Class Ms. Feldman' s representative recoveries

Actions in the United States") (March 2010); The exceed well over $100 million. Recently,

Sedona Conference - Training Program on she recovered millions of dollars for class members

eDiscovery Dispute Resolution for Special Masters in litigation against General Electric Co.

& Mediators (January 2010); Georgetown (N.D.N.Y.) and Rhythms Net Connections (D.


Case4:10-cv-04957-PJH Document11-5learn/03/11 Page20 of 39

Cob.), among others. She is currently representing, respectively, in Freeland v. Iridium Worldshareholders in litigation involving Washington Comma 'ns, Ltd.Mutual, Inc. (W.D. Wash.), and Gilead Sciences, Mr. Kaufman's outstanding representativeInc. (N.D. Cal.) (settlement pending court results in derivative and transactional litigationsapproval), cases where plaintiffs received favorable include: In re Trump Hotels Shareholderappellate court opinions on the issues of scienter Derivative Litigation (Trump personally contributed(South Ferry LP, #2 v. Killinger, 542 F.3d 776 (9th some of his holdings; the company increased theCir. 2008)) and loss causation (In re Gilead Sci. number of directors on its board, and certain futureSec. Litig., 536 F.3d 1049 (9th Cir. 2008)). She is transactions had to be reviewed by a specialalso currently representing participants of defined committee )contribution retirement plans in ERISA litigationinvolving, among others, British Petroleum (BP) He recently argued the appeal in In re(MDL), Morgan Stanley & Co., Inc. (S.D.N.Y.), Comverse Technology, Inc. Derivative Litig., 56Macy's, Inc. (S.D. Ohio), Boston Scientific Corp. AD3d 49 (2008) which led to the seminal New(D. Mass.), Fremont General Corp. (C.D. Cal.), York Appellate Division opinion which clarified theWeIlpoint, Inc. (S.D. Ind.), The Colonial Banc standards of demand futility, and held that a boardGroup, Inc. (D. Al.), Textron, Inc. (D.R.I.), AIG of directors loses the protection of the business(S.D.N.Y.), Lehman Brothers (S.D.N.Y.), and The judgment rule where there is evidence of self-Hartford Financial Services Group (D. Conn.). dealing and poor judgment by the directors; and In

re Topps Company, Inc. Shareholder Litig. whichMs. Feldman graduated from Albany Law resulted in a 2007 decision which vindicated the

School in 1990, where she served as an Executive rights of shareholders under the rules of comity andEditor of the Albany Law Review. She has interned doctrine of forum non conveniens and to pursueat the Civil Division of the United States Attorney's claims in the most relevant forum notwithstandingOffice in Brooklyn, New York. She is admitted to the fact that jurisdiction might exist as well in thethe bars of the States of Washington and New York state of incorporation. Mr. Kaufman has alsoand federal district and appellate courts throughout lectured and taught in the subjects of corporatethe country. governance and derivative litigation.

BENJAMIN Y. KAUFMAN earned his B.A.Mr. Kaufman is also at the forefront of

degree from Yeshiva University in 1988 and hisconsumer litigations with a recently-filed litigation

J.D. degree from Benjamin N. Cardozo School of brought on behalf of paid e-mail subscribers againstLaw in 1988, where he was a Belkin Fellow, Belkin

web hosting and e-mail service providers in GolfScholar, and a member of the Cardozo Arts and Clubs Away LLC v. Hostway Corporation, et al.,Entertainment Law Journal. Mr. Kaufman also Case No. 09-29596 (Fl. Cir. Ct., Broward County).received an M.B.A. degree in finance from NewYork University, Leonard N. Stern School of In addition, Mr. Kaufman represents many ofBusiness, in 1999. the firm's corporate clients in complex commercial

litigation matters and arbitrations, including PuckettMr. Kaufman focuses on class actions on

v. Sony Music Entertainment, No. 108802/98 (Newbehalf of defrauded investors and consumers. Mr. York Cty. 2002) (a complex copyright royalty classKaufman's successful securities litigations include action) and an arbitrations on behalf of oppressedIn re Deutsche Telekom AG Securities Litig., No. minority shareholders in both public and privately00-9475 (S.D.N.Y.), a complex international held corporations. Prior to joining Milberg insecurities litigation requiring evidentiary discovery August of 1998, Mr. Kaufman was a Courtin both the United States and Europe, which settled Attorney for the New York State Supreme Court,for $120 million. Mr. Kaufman was also part of the New York County (1988-1990) and Principal Lawteam that recovered $46 million for investors in In Clerk to Justice Herman Calm of the Commercialre Asia Pulp & Paper Securities Litigation, No. 01- Division of the New York State Supreme Court,CV-7351 (S.D.N.Y.) and $43.1 million, with New York County (1990-1998).contributions of $20 million, $14.85 million and$8.25 million from Motorola, the individualdefendants, and defendant underwriters



CLIFFORD S. GOODSTEIN earned his A.B. and subsequently worked as a journalist for a

degree from Harvard University in 1988 and his variety of publications. In 1994, he earned a J.D.

J.D. degree from New York University School of degree, cum laude, from the University of Michigan

Law in 1993. After graduation, he served as a law Law School.clerk to the Honorable Alex T. Howard, Jr., Chief Mr. Seidman joined Milberg in 2000. HisJudge of the United States District Court for the practice involves the investigation and prosecutionSouthern District of Alabama, and then as an of securities litigation on behalf of defraudedassociate at Reboul, MacMurray, Hewitt, Maynard investors. Before joining Milberg, he was an& Kristol, and Baker & Botts, prior to joining associate with the New York law firm of Orans,Milberg in January of 1998. Eisen & Lupert LLP, where he was active in both

Mr. Goodstein practices in the areas of civil and white collar criminal litigation in federal

consumer fraud, securities, antitrust, and health care and state courts.litigation. Mr. Goodstein is a member of the bars of Mr. Seidman is admitted to practice in theNew York and New Jersey. courts of the State of New York, as well as the

PETER SAFIRSTEIN graduated from George United States District Courts for the Northern,

Washington University in 1978 with a B.A. degree. Southern, and Eastern Districts of New York.He received an M.A. degree in government

ANITA KARTALOPOULOS graduated with a(concentration in international relations) from B.A. degree from the University of Toledo, withGeorgetown University in 1980. In 1985, he earned honors in 1974, majoring in classics, and graduatedhis J.D. degree from Brooklyn Law School, where from Seton Hall Law School in 1982, with anhe was a member of the Brooklyn Law Review and emphasis on health care law. Ms. Kartalopoulosthe Moot Court Honors Society. Prior to joining works primarily in the areas of insurance, consumerMilberg, Mr. Safirstein was in private practice. In fraud, securities, and managed care. Before joiningaddition, Mr. Safirstein served as a staff attorney in Milberg in 1998, she was in government service inthe Enforcement Division for the U.S. Securities the State of New Jersey, holding several positions,and Exchange Commission from 1985-1990. In including deputy commissioner of insurance for life1988-89, Mr. Safirstein was designated as a special

and health, director of legal regulatory affairs forassistant United States attorney in the Southern

the Department of Health and Senior Services, andDistrict of New York, where he was part of the trial

executive director of the New Jersey Real Estateteam which prosecuted United States v. Regan, (the

Commission."Princeton/Newport" case) and United States v.

Lisa Jones. Mr. Safirstein later served as an As deputy commissioner of insurance she

assistant United States attorney in the Southern managed the New Jersey Insurance Department'sDistrict of Florida. Multi-State Task Force investigating the sales

practices of the Prudential Insurance Company.Mr. Safirstein is a member of the American She also served on the Board of Directors of MBL

Bar Association and the Association of the Bar of Insurance Company as a rehabilitator and managedthe City of New York. Mr. Safirstein is a member litigation pursuant to the company's rehabilitation.of the bars of the States of New York and New

Jersey and is also admitted to practice before the Thereafter as director of legal and regulatory

Supreme Court of the United States, the United affairs for the Department of Health and Senior

States Courts of Appeals for the Second and Third Services, Ms. Kartalopoulos was responsible for

Circuits, the District Court of the Southern and litigation management, the development of all

Eastern Districts of New York and the District regulations implementing the New JerseyCourt of New Jersey. Healthcare statutes, the development and

implementation of a streamlined Certificate of NeedPETER E. SEIDMAN earned his B.A., cum (CN) law, and the development of stringent prompt

laude, from Hobart College in 1979, followingpayment regulations to ensure that HMO's meet

which he served as a Peace Corps volunteer livingcontractual obligations to physicians and ensure the

and working among the Guarani, an indigenousstability of the health care network for the benefit of

tribe in Paraguay. He earned an M.A. degree inconsumers.

journalism in 1982 from the University of Michigan



As executive director of the New Jersey State New Jersey and the U.S. Courts of Appeals for theReal Estate Commission, Ms. Kartalopoulos was Federal Circuit and the Third Circuit.responsible for implementing consumer

CHRISTOPHER S. POLASZEK earned his B.S.disclosure/protection regulations which had been degree from Florida State University in 1992, cumlong opposed by the New Jersey real estate laude, his M.B.A. degree from Florida Stateindustry. She was also responsible for all University in 1997, his J.D. degree from Floridadisciplinary investigations and hearings against State University in 1997, cum laude, and his LL.M.realtors, the inspection and registration of out of degree in Securities Regulation from Georgetownstate land sales marketed in the State of New Jersey, University in 2000.continuing licensing of 84,000 realtors and brokersand the on-going development of real estate Mr. Polaszek currently specializes in securitiesregulations. Ms. Kartalopoulos also worked with fraud class actions on behalf of defrauded investors,New Jersey Attorney General Deborah Poritz in the as well as complex commercial litigation. Workingdevelopment of Megan's Law. together with his colleagues, he has achieved

significant success on behalf of shareholders ofPrior to government service, Ms. Kartalopoulos publicly traded corporations, which has resulted in

specialized in local government law and land use, the recovery of millions of dollars for injuredrepresenting a number of municipal governments, plaintiffs. Mr. Polaszek also regularly meets withplanning boards, and boards of adjustment. She institutional investors, including trustees of publicwas responsible for litigation before both state and and private pension funds, regarding their legalfederal courts, and negotiated significant rights.settlements with the New Jersey Council onAffordable Housing (COAH) for the benefit of low Prior to joining Milberg, Mr. Polaszek spentincome residents of the State. several years practicing commercial litigation with

an emphasis on securities litigation and arbitration.Ms. Kartalopoulos has co-authored the In this regard, in addition to litigating matters in

following publications on the subject of securities state and federal courts, he has representedand shareholder litigation: Deterring Executive numerous clients in securities arbitrationCompensation Excesses: Regulatoty Weaknesses,

proceedings conducted by the National AssociationLitigation Strengths (03/05) and Vintage Wine In

of Securities Dealers, Inc., the New York StockNew Bottles: The Curious Evolution of the Concept

Exchange, and the American Arbitrationof Loss Causation (11/05).

Association.Ms. Kartalopoulos has been a speaker at Mr. Polaszek's undergraduate educational

numerous conferences including The Institutional background is in finance and accounting. WhileInvestor European Pensions Symposium, The pursuing his JD/MBA degrees, Mr. Polaszek wasCanadian Hedge Funds Investment Roundtable, The awarded a coveted scholarship and internship withNew York Hedge Funds Roundtable, and the the Florida Senate. Then, while completing hisAEDBF (Association Europeene de Droit Bancaire LL.M. in Securities Regulation at Georgetown, Mr.et Financier) and speaks regarding the complex Polaszek interned with United States Senator Boblegal environment that international and domestic Graham.institutional investors face when addressing lossesdue to securities fraud as well as their proactive and Mr. Polaszek is frequently invited to teachreactive alternatives, continuing legal education courses on a number of

topics in the context of complex commercialMs. Kartalopoulos co-chairs the Firm's

litigation. In this regard, he has given CLEOutreach and Client Development Committees, and

presentations and lectures on securities fraud classis a member of Milberg's Diversity Committee and actions; drafting amended complaints in securitiesCase Development Department. fraud class actions; the Sarbanes-Oxley Act;

Ms. Kartalopoulos is admitted to the bar of the exposures and litigation issues facing participants inState of New Jersey. She is also admitted to appear the subprime lending market; institutional investorin the United States District Court for the District of

responsibility and advocacy; fraud detection andprevention; and fiduciary responsibilities and



obligations of public pension fund trustees. injuries they sustained by their ingestion of the diet

Additionally, Mr. Polaszek has devoted a drug combination known as Fen-P hen in In re Dietsignificant amount of time to local charitable, civic, Drug Litigation Venued in Bergen County. In

and community organizations and programs such as securities, he worked on the successfully resolved

Tampa Connection, Junior Achievement, A Gift for In re Racing Champions Securities Litigation (N.D.Teaching, Bayshore Little League, Children's Ill.) and is currently a member of the team handling

Dream Fund, SJE Dads' Club, and the FBI the landmark In re IPO Securities Litigation,Citizens' Academy. alleging various forms of market manipulation.

Mr. Polaszek is or has been a member of the Mr. Fraser is admitted to practice in New York,

Federal Bar Association, Tampa Bay Inn of Court, New Jersey, and the United States District Courts

American Bar Association, Association of Trial for the Southern District of New York, the Eastern

Lawyers of America, and the Public Investors District of New York, and the District of NewArbitration Bar Association. Jersey.

MATTHEW GLUCK was a litigation partner for SABRINA KIM graduated from the University

over 30 years at Fried, Frank, Harris, Shriver & of California, Los Angeles, in 1992, Phi Beta

Jacobson LLP prior to joining Milberg. He Kappa, magna cum laude, with a B.A. degree in

frequently represented U.S. and foreign businesses Sociology. She received her J.D. degree from the

and individuals in major litigation and other University of California, Hastings College of Law

complex matters. He has also assisted clients in in 1996.both formal bankruptcies and out-of-court Ms. Kim has extensive public and privaterestructurings of financially troubled companies. sector experience in various areas of complex

Mr. Gluck twice served as adviser to the court commercial litigation, including securities,

in the restructuring of the Manville Trust in In re corporate fiduciary, and consumer cases.Johns-Manville Corp., No. 85-8922 (S.D.N.Y.) and

Ms. Kim came to Milberg from the Californiawas the legal representative for future claimants in Department of Justice, where she was a deputythe Chapter 11 filing of Keene Corporation in In re attorney general in the Consumer Law Section forKeene Corp., No. 93-46090 (Bankr. S.D.N.Y.). He several years. During that time, Ms. Kim served asalso serves as a local judge in Muttontown, New lead prosecutor in complex state and federal fraudYork. He was one of the lead attorneys for the cases, including those against predatory lenders,plaintiffs in the trial against Vivendi which resulted insurance companies, annuity mills, and otherin what may be the largest jury verdict for plaintiffs

in a securities class action. He conducted thecorporate defendants who engaged in large financialfraud schemes.

examination of Vivendi's former CEO, CFO, andtheir accounting expert. At Milberg, Ms. Kim has litigated numerous

securities fraud and other class actions resulting inNEIL R. FRASER graduated from the substantial recoveries for investors and consumers.

University of Massachusetts, Amherst in 1989 with Ms. Kim is also one of the principal attorneysa B.A. degree in political science. In 1992, he

received his J.D. degree from Whittier Law School. responsible for two major California Supreme Courtcases involving consumer rights and class action

While in law school, Mr. Fraser externed for theprocedure: Pioneer Electronics (USA) v. Superior

Hon. Vincent P. Zurzolo, United States BankruptcyCourt (Olmstead), 40 Ca1.4th 360 (Cal. 2007);

Judge for the Central District of California.Branick v. Downey Savings & Loan Assn, 39

Mr. Fraser focuses his practice in the areas of Ca1.4th 235 (Cal. 2006).securities, mass torts, and employment Ms. Kim has served as a speaker for programsdiscrimination. He represented the plaintiffs in the on class action procedure, tactics and strategies inrecently settled class action alleging employment consumer class actions, substantive changes indiscrimination at the Jacob K. Javits Convention unfair and deceptive practices statutes, and trends inCenter, Cokely v. NYCCOC (S.D.N.Y.). In complex business litigation. Her speakingaddition, Mr. Fraser is a key part of the team engagements include: Consumer Attorneysrepresenting more than 330 individuals relating to Association of Los Angeles (CAALA) Convention,



Unfair Business Practices Act, What Is Left? ROSS B. BROOKS earned his B.A. degree from(September 2007); American Bar Association Cornell University in 1992, cum laude, and his J.D.(ABA) Litigation Section Annual Conference, degree from the University of Chicago Law SchoolTactics and Strategies for Consumer Cases After in 1997.Proposition 64 and Class Action Fairness Act Mr. Brooks focuses his practice on(April 2006); LexisNexis Mealey's Section 17200 representation of whistleblowers, public and privateConference, What is the Future of 1 7200 Claims in payors, and injured consumers in litigationLight of Proposition 64? (November 2005); Los involving healthcare fraud and abuse, includingAngeles County Bar Association (LACBA) 25th False Claims Act, mass torts, class action, and otherAnnual Labor and Employment Law Symposium, complex litigation.Minding Your Own Business (And Professions Code§17200) After Proposition 64 (February 2005). Mr. Brooks has led the investigation, litigation,

and/or settlement of several of the Firm's MedicareAs an adjunct professor at Loyola Law School, and Medicaid fraud False Claims Act cases. Mr.

Ms. Kim developed and taught a consumer law Brooks served as the Firm's lead attorney in itscourse which explored federal and state laws thatattempt to strike a balance between businesses'

representation of a union welfare and benefit fundnamed as part of a class of third-party payors of

need to effectively market goods and services and healthcare costs against Merck & Co. and Schering-consumers' right to accurate information and full Plough Corp. in In Re Vytorin/Zetia Marketing,disclosure. The course emphasized California's

Sales Practices and Products Liability Litig., MDLunfair competition and false advertising laws and No. 1938, No. 08-0285 (D.N.J.). The litigationthe Consumer Legal Remedies Act. resulted in a settlement of $41.5 million to resolve

Ms. Kim is a board member of the Association all claims involving the defendants' co-marketedof Business Trial Lawyers (ABTL) and a member drugs Vytorin and Zetia. Mr. Brooks is counsel toof the Consumer Attorneys of California (CAOC). Nassau County in New York State in In reMs. Kim was named a Southern California Super Pharmaceutical Industry Average Wholesale PriceLawyer Rising Star in securities litigation by Los Litigation, MDL No. 1456, No. 01-12257 (D.Angeles Magazine from 2006 through 2009. Mass.)

Ms. Kim is admitted to practice in the courts of Mr. Brooks is a member of the New York Statethe State of California, as well as the United States Bar Association, the New York City BarDistrict Court for the Central, Eastern, and Northern Association, Taxpayers Against Fraud, theDistricts of California, the United States Court of American Health Lawyers Association, theAppeals for the Ninth Circuit, and the United States American Association for Justice, and the HealthSupreme Court.

Law Committee of the New York City BarAssociation. Mr. Brooks is also a member of theFirm's Diversity Committee.

MATTHEW A. KUPILLAS graduated from theState University of New York at Albany in 1990 Mr. Brooks is admitted to practice in the courtswith a B.A. degree in philosophy. In 1994, Mr. of the State of New York, as well as the UnitedKupillas received his J.D. degree from New York States District Courts for the Southern and EasternUniversity School of Law. Mr. Kupillas focuses his Districts of New York.practice primarily on class actions on behalf of

PAUL J. ANDREJKOVICS graduated fromdefrauded investors and consumers, as well asUnion College in 1992, Phi Beta Kappa, magnacomplex commercial litigation. He is a member ofcum laude, with a B.A. degree in political science.the bar of the State of New York and is admitted toIn 1995, Mr. Andrejkovics received his J.D. degreepractice before the United States District Court forfrom Albany Law School.the Southern and Eastern Districts of New York, the

District of Colorado, the Eastern District of Mr. Andrejkovics' practice concentrates onWisconsin, and the United States Court of Appeals class action settlements and settlementfor the Tenth Circuit. administration. He was admitted as a member of

the New York bar in 1996 and is admitted topractice before the United States District Court for



the Northern, Southern, and Eastern Districts of Prior to joining Milberg, Ms. Smith worked atNew York. large law firms in New York and New Jersey. She

is admitted to practice in the United States DistrictKENT A. BRONSON received a B.A. from State

Courts for the Southern District of New York, theUniversity of New York at Binghamton in 1994.Eastern District of New York, the District of NewHe graduated cum laude from University ofJersey, the District of Massachusetts, and thePittsburgh School of Law in 1998. During lawUnited States Courts of Appeals for the First,school, Mr. Bronson was a research editor on theSecond, Third, and Ninth Circuits.Law Review and a recipient of the Dean's

Scholarship. ARVIND B. KHURANA received his B.A. fromState University of New York at Albany in 1993,Mr. Bronson is currently involved in litigatingand a J.D. from St. John's University School ofnumerous complex class action cases in variousLaw in 1999, Dean's List Graduate. While in lawstate and federal courts, including, among others, Inschool, Mr. Khurana was on the Dean's List fromRe Biovail Corp. Securities Litigation On which

Milberg LLP served as co-lead counsel on behalf of 1995-1999 and a member of the American

the Local 282 Welfare Trust Fund, and which was Bankruptcy Institute Law Review.

settled for $138 million and certain corporate Mr. Khurana focuses his practice primarily ongovernance modifications), In Re Citigroup Pension class actions on behalf of defrauded investors andPlan ERISA Litigation, In Re American Express consumers, as well as complex commercialSecurities Litigation, and In Re Topps Company, litigation. Prior to joining Milberg in August 2005,Inc. Shareholder Litigation. Mr. Khurana worked as an associate with a major

Mr. Bronson is admitted to practice in New international law firm in New York, concentratingin the area of complex commercial litigation.York State courts, the United States District Courts

for the Southern, Eastern and Northern Districts of Mr. Khurana is a member of the Federal BarNew York, and the United States Courts of Appeals Council and admitted to practice in the state andfor the Second and Tenth Circuits. federal courts of New York. He is also a member of

LEIGH SMITH received a B.A. degree, with the Firm's Diversity Committee

high honors, and an M.A. degree from Rutgers JONATHAN M. LANDERS, a nationallyUniversity. Ms. Smith received a J.D. degree from recognized authority in bankruptcy and insolvencyCornell Law School in 1999. law, heads the Firm's bankruptcy practice.

Ms. Smith focuses her practice primarily on Mr. Landers has extensive experience inclass actions on behalf of defrauded investors. She bankruptcy, insolvency, restructuring, financingalso has significant experience with complex transactions, purchase/sale of assets and bankruptcycommercial litigation and consumer class actions. and insolvency litigation matters, representingHer involvement in In re Tyco Intl Ltd. Securities debtors, lenders and lending syndicates, largeLitigation, No. 02-1335, helped recover an creditors, litigation defendants and asset sellers andaggregate settlement of $3.2 billion. purchasers. He is one of only sixty-five members of

While at Rutgers University, Ms. Smith the prestigious National Bankruptcy Conference, a

majored in French and was elected to Phi Beta member of the American College of Bankruptcy

Kappa and Phi Sigma Iota. As a graduate student, (founding class), and has been recognized

she studied French literature and film and spent a repeatedly in The Guide to the World's Leading

year in France working as an assistant English Insolvency Lawyers and The Best Lawyers in

teacher. Ms. Smith taught French at Rutgers and at America most recently in the 2010 edition, and

the University of Iowa before going to law school. in New York Super Lawyers (2006 to 2010). Mr.

During law school, Ms. Smith served as the Landers was listed in The Legal 500 US, 2008

Acquisitions Editor for the Cornell Journal of Law edition as a leading corporate restructuring attorney.

and Public Policy and was a member of the Cornell At Milberg, Mr. Landers is lead counsel inMoot Court Board. She also was active in a number litigation matters in In re Autobacs Strauss andof student organizations. Champion Home Builders (representing the

Committee), and lead counsel in Boston Generating



(representing a Committee). Before joining institutes. He is a Contributing Editor of Norton on

Milberg, Mr. Landers served as lead counsel for Bankruptcy, and a member of the Board of Editors

numerous clients, including: debtors The Finova of the Norton Bankruptcy Law Advisor.Group, Inc., Hoop (Disney Stores), Odyssey Group

KRISTI STAHNKE MCGREGOR received her(North Face and Head Sportswear), Divi Hotels and B.A. degree in political science, Phi Beta Kappa,S.S. Retail Stores; secured lenders in the cases of from the University of Florida in 1995. She spentInsilco and Concap I, II, IV, and V (involving real two years, 1993-94 and 1995-96, studying politicalestate loans aggregating $500+MM); and science and economics at the Rheinische Friedrich-represented Merrill Lynch in the Enron and Wilhelms-Universitaet Bonn in Bonn, Germany. InAdelphia bankruptcies; Wells Fargo Bank in the 1999, Ms. McGregor received her ID. degree fromPlacid and Penrod bankruptcies; and Dial Emory University School of Law, where she wasCorporation in the Greyhound and Bergner the Research Editor of the Emory International Lawbankruptcies; asset purchasers in the U.S. Review and student law clerk to Justice NormanAggregates, Greate Bay Casinos, Liquor Barn,

Fletcher of the Georgia Supreme Court.Sonic Telecommunications, Grand Palais Riverboat

and Rivermeadows (Crescent H Ranch) After graduating from law school, Ms.

bankruptcies; and was lead counsel for lending McGregor was a recipient of the German

groups (including Wells Fargo Bank, Bracton Chancellor Fellowship through the Alexander Von

Corporation, successor to Crocker National Bank, Humboldt Foundation, which allowed her to attend

and Bank of Montreal) in numerous workout and the Westfaelische Wilhelms-Universitaet Muenster

restructuring transactions; and represented Citibank in Muenster, Germany and receive her LL.M.

in connection with the liquidation and bankruptcy degree magna cum laude in German civil law in

of a number of major U.S. law firms, most recently, 2001.Heller Ehrman, Thelen, Thacher, and Brobeck. Prior to joining Milberg in 2002, Ms.

Mr. Landers graduated from Colgate McGregor practiced in the international section of a

University (where he was elected to Phi Beta large Atlanta law firm. She focuses her practice

Kappa), and magna cum laude from the Harvard primarily on class actions on behalf of defrauded

Law School (where he was an Editor of the investors, as well as complex commercial litigation.

Harvard Law Review). Mr. Landers previously was She has particular experience in international

a partner in Gibson, Dunn and Crutcher and has litigation, primarily involving European companies.

been a Professor of Law at the Universities of She is fluent in German. Ms. McGregor was

Kansas and Illinois, a Visiting Professor of Law at admitted to the Georgia bar in 1999, the New York

the University of Chicago, a Visiting Scholar at the bar in 2003, and the Florida bar in 2004.American Bar Foundation, a Visiting Professor at

ANDREI RADO focuses his practice onthe University of California Law School (Boalt securities, shareholder, and consumer class actions.Hall), and the Distinguished Visiting Professor at Mr. Rado's practice places particular emphasis onthe University of San Francisco Law School. investigating, together with the Firm's team of

He is admitted to practice in the courts of the investigators and forensic accountants, potential

States of New York and California, the United actions for institutional and individual investors

States District Court for the Southern District of injured by corporate wrongdoing.New York and all the District Courts of California, Mr. Rado's securities practice has includedas well as the United States Courts of Appeals for numerous complex litigations nationwide, includingthe Second and Ninth Circuits. Initial Public Offering Securities Litigation, which

Mr. Landers is the co-author of three books on alleges, in hundreds of consolidated cases pending

bankruptcy/creditors' rights and civil procedure, in the Southern District of New York, that

and the author of more than 25 published articles on investment banks manipulated the initial public

bankruptcy, creditors' rights and other areas, has offerings of hundreds of companies, and mutual

testified a number of times before congressional fund timing cases alleging that mutual fund

committees, and is a frequent speaker before bar managers allowed select investors to profit by

associations and continuing legal education improperly timing their trading in fund shares.



Mr. Rado has also litigated consumer class CARLA FREDERICKS graduated magna cumactions, including a case against jewelry company laude from the University of Colorado in 1997 and

Zales for improperly denying credit-insurance from Columbia Law School in 2001.claims made by unemployed and retired consumers, Ms. Fredericks focuses her practice onand a class action against computer maker Gateway complex litigation. Ms. Fredericks joined Milbergfor improperly understating in advertising the costs in 2005. She was an integral part of the case team inof internet access to consumers, some of whom the In re Tyco International Ltd. Securitiesincurred internet-access fees of hundreds of dollars.

Litigation, which settled in 2007 for a record $3.2

Prior to joining Milberg, Mr. Rado worked as billion. Ms. Fredericks also represents Indian tribes

an attorney at a New York City-based investment and organizations in matters to recover losses from

bank focusing on compliance, with rules and fraud and financial misconduct.regulations relating to resales of control and

Ms. Fredericks serves as an advisor to therestricted securities under the Securities Act of

American Indian College Fund and is a trustee for1933. Mr. Rado also worked at another prominent the Mashantucket (Western) Pequot TribeNew York City law firm specializing in plaintiffs' Endowment Trust. She regularly serves as asecurities class action litigation, moderator or speaker at lectures and seminars on

Mr. Rado received his Juris Doctor degree issues pertaining to finance and Indian law. She has

from St. John's University School of Law, cum performed extensive pro bono and fundraising work

laude, in 1999, and is admitted to practice in the in the social justice arena. Ms. Fredericks

courts of the State of New York, as well as the coordinates the Firm's "In the Community"

United States District Court for the Southern program and is a member of the Firm's electronic

District of New York. Mr. Rado was born in discovery committee and the Firm's DiversityBucharest Romania. Committee

ANNA DOVER received a B.A. degree from Ms. Fredericks graduated from Columbia Law

Wesleyan University, with honors in Psychology, in School in 2001. While at Columbia, she was a

1995, and a J.D. degree from the University of Public Interest Fellow, a Charles Evans Hughes

California at Davis School of Law in 2001. While Scholarship recipient, and treasurer of the Columbia

in law school, Ms. Dover was a member of the UC Native American Law Students Association. She isDavis Law Review, a member of the New York State Bar Association,

the Federal Bar Association, the National NativeMs. Dover focuses her practice on class actionsAmerican Bar Association, the National Congresson behalf of defrauded investors and consumers.of American Indians, the Indigenous Peoples' TaskShe currently represents shareholders in actionsForce of the Social Investment Forum, the Nativeagainst various mutual fund families, including InAmerican Finance Officers' Association, and is an

re Federated Mutual Funds Excessive Feeenrolled member of the Three Affiliated Tribes ofLitigation (W.D. Pa.).North Dakota.

As an active member of the New York Inn ofJEFFREY MESSINGER received his B.A. fromCourt, she has spoken at several CLE seminars.

the State University of New York at Stony Brook inPrior to joining Milberg, Ms. Dover was an1980, and his J.D., from Boston University School

associate at Robie & Matthai, P.C. in Los Angelesof Law in 1985. Mr. Messinger has over 15 years

where her practice was focused on insurance andlegal malpractice claims.

experience litigating class and complex matters.Recently he was part of the Milberg team that

Ms. Dover is admitted to practice before the successfully prosecuted and settled the In Re TycoUnited States District Courts for the Southern Int 'l Ltd. Securities Litigation for $3.2 billion in

District of New York and the Central and Southern 2007.Districts of California, the United States Court of

Mr. Messinger currently focuses his practice onAppeals for the Ninth Circuit, and the United StatesSupreme Court. plaintiffs' mass torts in pharmaceutical and medical

device cases, and he has worked with Plaintiffs'Steering Committees in several litigations,



including Kugel Mesh, Avandia, Yaz/Yasmin, and JAMES M. SHAUGHNESSY graduated cumBextra. laude from Adelphi University in 1967 with a B.A.

Mr. Messinger has also obtained significant degree in political science and cum laude from NewYork University School of Law in 1969. While atsettlements on behalf of victims of employment

discrimination. N.Y.C., Mr. Shaughnessy was elected to the Orderof the Coif, was the administrative director of the

PAUL F. NOVAK received his B.A. and M.A. moot court program, and, upon graduation, receiveddegrees from Michigan State University in 1983, the Benjamin F. Butler Award for scholarship andand J.D. from Emory University School of Law in outstanding service to the law school.1986. Mr. Novak is the head of Milberg's antitrust

Mr. Shaughnessy joined the firm of Casey,practice group and the managing partner of the

Lane & Mittendorf in New York City as a litigationFirm's Detroit office. He is active in a host of

associate in 1969 and became a litigation partner atantitrust, securities, and consumer protection class

that firm in 1976. In 1982, Mr. Shaughnessy joinedaction matters, and currently serves as interim co-the firm of Haythe & Curley as a litigation partner,lead counsel in multiple antitrust cases.and he was the managing partner of the firm for two

Prior to joining Milberg, Mr. Novak practiced years. In 1987, Mr. Shaughnessy joined the firm oflaw in both the public sector, as an Assistant Windels, Marx, Davies & Ives (now known asAttorney General for the State of Michigan and as Windels, Marx, Lane & Mittendorf, LLP) as athe City Attorney of Lansing, and in the private litigation partner. He was the chairman of thesector consulting with clients on antitrust, Windels, Marx Litigation Department from 1988environmental, and regulatory matters. As an through 1998, and was a member of the firm'sassistant attorney general, Mr. Novak served as the Executive Committee from 1990 to 1992. Mr.Division Head of the Special Litigation Division Shaughnessy joined Milberg in 2001.with responsibility for antitrust enforcement, public

Over the course of his career, Mr. Shaughnessyutility matters, and securities litigation. He emergedas a national leader in multistate litigation involving has specialized in commercial, securities, insurance,

aviation and bankruptcy litigation. Mr.pricing practices in the pharmaceuticals industry,Shaughnessy was lead defense counsel for Pan

and served as lead counsel on behalf of all fiftyAmerican World Airways, Inc. in In re Air Disaster

state attorneys general in the In Re Cardzzem CDat Lockerbze, Scotland on December 21, 1988,

Antitrust Litigation. He also served as lead counselM.D.L. 799 (E.D.N.Y.), and tried that case on

on behalf of the State of Michigan in several pricebehalf of Pan Am to a jury for three months.

fixing, monopolization, and merger cases in a broadspectrum of industries including health care, Mr. Shaughnessy is a member of the Americanpharmaceuticals, and in cases involving Microsoft Bar Association, the New York State Barand Oracle Corporation. Association, the Association of the Bar of the City

of New York, and Federal Bar Council. Mr.Mr. Novak is the former Chair of the MichiganShaughnessy is admitted to practice in New York,Bar Association's Antitrust, Franchising, and TradeCalifornia and New Jersey as well as before theRegulation Section and is a contributing editor ofUnited States Supreme Court, the United Statesthe American Bar Association's Antitrust andCourts of Appeals for the Second, Fifth and NinthHealth Care Newsletter. He is also a member of theCircuits, the United States District Courts for theState Bar of Michigan United States CourtSouthern, Eastern, Northern and Western DistrictsCommittee He was awarded the Frank J. Kelleyof New York, the Southern District of CaliforniaExcellence in Trial Advocacy Award for his workand the District of New Jersey, and the Unitedin antitrust enforcement. He has lectured onStates Tax Court.antitrust issues in the pharmaceuticals and insurance

industries for the Practicing Law Institute. He JENNIFER L. YOUNG received a B.A. degreeserved as chair of the National Association of from University of South Carolina in 1996. SheAttorneys General ("NAAG") Midwest Antitrust graduated cum laude from the University of SouthEnforcement Task Force and as a member of the Carolina School of Law in 2002. While in lawNAAG Airlines Industry Working Group and school, Ms. Young was associate editor in chief ofPrescription Drug Pricing Task Force. the South Carolina Law Review.



Ms. Young specializes in securities fraud and Ms. Mehdi was part of a team of lawyers in the

consumer class action litigation. Most recently, she WorldCom actions (In re WorldCom Sec. Litig.,worked on cases arising from misrepresentations in No. 03-8269 (S.D.N.Y.)), brought on behalf of

the sales of annuities and violations of the Real institutional investors who opted out of the class

Estate Settlement Procedures Act. She is currently action case and sued WorldCom's bankers, officers,

a member of the team of attorneys representing directors, and auditors for losses related tovictims of the Madoff fraud. WorldCom bond offerings. Ms. Mehdi was

responsible for motion practice, discovery, andMs. Young is a member of The Sedonasettlement processes for a number of California-Conference Working Group on Electronicbased City and County pensions plans, and certainDocument Retention and Production, and she is aunions and entertainment funds. These actionssenior editor of The Sedona Conferenceresulted in a recovery of over $650 million for the

Commentary on Proportionality in Electronicinstitutions.Discovery. She is also an active member of the

New York Inn of Court. Ms. Mehdi's antitrust experience includes the

She is admitted to practice in the courts of the following cases: In re NASDAQ Market-makersAntitrust litigation, MDL No. 1023 (S.D.N.Y.)

States of South Carolina and New York.(recovery of over $1 billion); In re VisaCheck/MasterMoney Antitrust Litigation, No. 96-

AZRA Z MEHDI is a partner in Milberg's Los 5238 (E..D.N.Y.) (recovery of over $ 3 billion); InAngeles office. Ms. Mehdi's practice focuses on re Motorsports Merchandise Antitrust Litigation,securities, consumer, and antitrust litigation. She No. 97-2314 (N.D. Ga.), Ocean View Capital v.represents both institutional and individual Sumitomo Corp. No. 98-4067 (S.D.N.Y.) (private

investors — in the United States and internationally action against Sumitomo Copper in connection with

— in recovering losses resulting from corporate price fixing).fraud in the U.S. securities markets.

Ms. Mehdi was born and raised in Mumbai,

Prior to joining Milberg, Ms. Mehdi was a India where she completed her secondary certificate

partner with Coughlin Stoia Geller Rudman before moving to the United States. Ms. Mehdi

Robbins, LLP, where she was the lead litigator on a received her law degree from DePaul University

number of noteworthy recent cases including Jaffe College of Law in Chicago in 1995. Upon

v. Household International, Inc., No. 02-05893 graduation, Ms. Mehdi clerked at the Austrian law

(N.D. Ill.). Ms. Mehdi led the pre-trial phase of the firm of Griner, Poch & Foramitti, which

Jaffe case, designing the litigation and discovery represented a private shareholder group bidding to

strategy, and overseeing all motion practice, fact acquire the contract to privatize Austria's

discovery, and expert discovery. In May 2009, a telecommunication sector. She obtained an

Chicago jury returned a verdict for the plaintiff undergraduate degree in 1992 from the University

class against the corporation and the individual of Illinois at Chicago, with high honors in English

executives. Although post-trial proceedings are and German Literature. She was a member of the

pending, the investor class could recover between Honors College and spent a year at the University$1 and $3 billion in damages. of Vienna in Austria.

Ms. Mehdi also led the consumer action against Ms. Mehdi is admitted to practice in New York

Bank of America and MBNA Corporation (Nobles (1996), California (2002), before the United States

v. MBNA Corp., No. 06-03723 (ND. Cal)) arising District Court for the Southern and the Eastern

from allegations of false representations in Districts of New York (1997), and the United States

defendants' "live check" loan solicitations (i.e., District Court for the Northern, Central and

access checks, convenience checks or balance Southern Districts of California (2002); United

transfer checks). The case resulted a recovery of States District Court for the Northern District of

over 80% of the compensatory damages and Illinois (2004).required a change in Bank of America's business

Ms. Mehdi served on the Lawyer's Committeepractices to provide additional disclosures relatingfor Civil Rights from 2006-2009. Ms. Mehdi isto such solicitations.fluent in German and Hindi.



Of Counsel

SOL SCHREIBER received a B.A. degree, cum federal and state court civil procedure, federal and

laude, in 1952 from the City College of New York, state court trial evidence and federal criminal practice

and his LL.B. degree from Yale Law School in 1955. and procedure. Mr. Schreiber was Reporter, ABAAdvocacy Task Force (1970-1971), which led to theFrom 1971 through 1978, Mr. Schreiber was aformation of the National Institute for TrialUnited States Magistrate Judge in the United StatesAdvocacy. He also served as President of the

District Court for the Southern District of New York,Academy of Court Appointed Special Masters from

where he conducted more than 1,500 criminal and2007-2008, and he is presently a member of the

3,500 civil pretrial hearings and sealedBoard of Editors of Moore 's Federal Practice, Thirdapproximately 1,000 civil cases. In addition to tryingEdition. In August 2005, he was elected to the Board

numerous civil and criminal cases, Mr. Schreiberof Trustees of the Center for American &

supervised pretrial practice in derivative, class andInternational Law, formerly the Southwestern Legalcomplex actions in the admiralty, antitrust, aviation,Foundation.securities, directors' and officers' and product

liability fields, including Berkey v. Kodak, Litton v. From 1972 to 1987, he served as an adjunct

ATT, the Penn Central Commercial Paper Litigation, professor at Fordham Law School, teaching courses

the New York Times and Readers' Digest gender in trial advocacy, product liability, mass torts and

discrimination, the Argo Merchant-Nantucket insurance disputes. He has been an editor for morestranding, and the Tenerife 747 collision cases. than 40 CLE course handbooks and major

publications on civil practice and litigation, includingFrom November 1978 to January 1982, when heALT-ABA's three-volume Civil Practice Guide,joined Milberg, Mr. Schreiber served as the PresidentLitigation in Federal and State Courts (8th ed. 1998).and Chief Executive Officer of a unit of the

Federation of Jewish Philanthropies of New York Mr. Schreiber served as a Court-Appointed

which provided centralized legal, risk management Special Master in the Marcos Human Rightsand insurance services for the Federation's hospitals; Litigation. He was Special Master in the Pan

homes for the aged; and health, education and American Lockerbie cases, the Agent Orangecommunity service agencies. He was Trial Counsel Litigation (March 1982-January 1984), and a series

from 1955 through 1971 and Resident Counsel from of other complex federal civil cases.1966 through 1971 of the Brooklyn office of Liberty

Mr. Schreiber was Judicial Member, AngloMutual Insurance Co. American Exchange on Civil Procedure (March

Mr. Schreiber has been a participant in numerous 1974), and Hearing Officer, N.Y. State Master

special project committees for the American Bar Energy Plan (fall 1979). He is the recipient of the

Association and the Second Circuit. From 1960 to Francis Rawle Award for outstanding achievements

present, Mr. Schreiber has been the Planning and in post-admission legal education (ALI-ABA, July

Program Chairman of more than 125 national 1985) and the Presidential Award, Legal Aid Society

programs, including the ALT-ABA and PL's (November 1984). Mr. Schreiber is also the founder

Continuing Professional Education national courses and co-chair of the Ovarian Cancer Research Fund,

of study on evidence, civil practice and employment Inc.discrimination litigation in federal and state courts.

Mr. Schreiber is a member of the American BarMr. Schreiber developed and chaired the ALT-ABA

Association, the New York State Bar Association, theand Jiao Tong Law School's three-day course of

Association of the Bar of the City of New York andstudy entitled "Current Civil Litigation in the U.S."

the American Law Institute. He is admitted to the barin Shanghai, China from June 3-5, 2005. In June of the State of New York, to the United States2006, he developed and chaired a three-day course of District Courts for the Southern and Eastern Districtsstudy on American law in Beijing and Shanghai,

of New York, and to the Second Circuit Court ofChina; and in May 2007, coordinated a three-day

Appeals.program in New Delhi, India. He has been a frequentlecturer at professional programs and workshops on



JUSTICE HERMAN CAHN was first elected as York); and the consolidated state cases regarding theJudge of the Civil Court of the City of New York in rebuilding of the World Trade Center site (World1976. He subsequently served as an Acting Justice of Trade Center Properties v Alliance Insurance; Portthe Supreme Court from 1980 until 1992, when he Authority v. Alliance Insurance).was elected to the Supreme Court. Throughout his Justice Calm is a member of the Council ondecades on the bench, he principally handled civil Judicial Administration of the Association of the Barcases, with the exception of 1981 until 1987, when he of the City of New York. He has also recently beenpresided over criminal matters. Justice Calm was appointed to the Character and Fitness Committee ofinstrumental in the creation of, and a founding Justice the Appellate Division, First Department. He is onin, the Commercial Division within the New York the Register of Mediators for the U.S. BankruptcyState Supreme Court. He served as a Justice of the Court, Southern and Eastern Districts of New York.Commercial Division from its inception in 1993 untiljoining Milberg. Before ascending to the bench, Justice Cahn

practiced law in Manhattan. He was first admitted toAmong his most notable recent cases are the the New York bar in 1956. He is admitted to practice

consolidated cases stemming from the Bear Stearns in numerous courts, including the New York Statemerger with JP Morgan (In re Bear Stearns courts, the Southern District of New York and theLitigation); litigation regarding the upcoming United States Supreme Court.America's Cup Yacht Race (Golden Gate Yacht Clubv. Societe Nautique De Geneve); litigation stemming Justice Calm received his law degree fromfrom the attempt to enjoin the construction of the new Harvard Law School and a B.A. from City College ofYankee Stadium (Save Our Parks v. City of New the City University of New York.

Senior Counsel

DAVID AZAR received his B.S. in Finance from New York Mellon for their alleged roles, as trustees,Indiana University School of Business in 1991. He in causing more than $1 billion in losses by investorsgraduated from Duke University School of Law, in Medical Capital Holdings, Inc.; serving as co-leadmagna cum laude, in 1999, and elected to the Order counsel in a shareholder class action against theof the Coif (top 10% of the class). While in law board of directors of International Rectifierschool, he served as a senior editor of Law and Corporation for allegedly breaching their fiduciaryContemporary Problems, and was a member of the duties by, among other things, blocking shareholdersMoot Court Board. After law school, he clerked for from accepting a premium tender offer for theirChief Justice Veasey of the Delaware Supreme shares; and representing a financial institutionCourt. seeking to recover for breaches of contract and

Mr. Azar focuses his practice on antitrust,

mortgage fraud against various individuals andentities.

corporate governance, securities fraud class actions,and selected general business litigation matters. Mr. Mr. Azar serves as a volunteer prosecutorAzar has significant litigation experience, including through the Los Angeles Bar Association's Trialfirst-chair trial and appellate work. He is also a Advocacy Project, and has been named by Loscontributing author of the forthcoming Antitrust Angeles Magazine as a Southern California SuperLaw Developments (7th Edition), scheduled for Lawyers Rising Star. He serves on the pro bonopublication by the ABA Section of Antitrust Law in panel of the Harriett Buhai Center for Family Law,April 2011.

and he was awarded a Distinguished Service Awardin 2009 for his continuing representation of aMr. Azar' s current representative mattersdisabled father in a complex family law matter. Mr.include: serving as co-lead counsel in multi-districtAlitigation against Korean Air and Asiana Airlines for zar's pro bono work has also included: prevailing attrial in a case on behalf of a learning disabled studentallegedly conspiring for more than six years to set

prices for passenger airfares between the United asserting claims under the American with Disabilities

States and Korea; serving as co-lead counsel in a Act; successfully persuading the Ninth Circuit Court

class action against Wells Fargo Bank and Bank of of Appeals to allow a disabled prisoner's federal civilrights case to proceed, resulting in a published



decision on a matter of first impression; and assisting Ms. Dix is co-author of "Bankruptcy -- Newtenants in disputes with their landlords. Value Exception," The National Law Journal, June

21, 1999.Mr. Azar has extensive knowledge of disputeresolution, having served as a mediator in more than Ms. Dix was admitted to the bar of the State of160 cases, and he has trained and reviewed other New York and the United States District Courts formediators. He served for five years as the editor of the Southern and Eastern Districts of New York inthe quarterly publication of the Society of 1995. She is a member of the American BarProfessionals in Dispute Resolution, and was honored Association, and the American Bankruptcy Institute.with the association's Presidential Recognition

NICOLE M. DUCKETT received her B.A. fromaward.

Georgetown University in 1995, and her J.D., fromLois F. Dix graduated from St. John's UCLA School of Law in 1998. Ms. Duckett focuses

University summa cum laude in 1992, and in 1994, her practice on securities fraud class actions,from St. John's University School of Law where she consumer class actions, shareholder derivativewas executive articles editor of the American actions, antitrust litigation, and employmentBankruptcy Institute Law Review. litigation. She joined the firm from Mayer Brown

LLP where she practiced complex business litigation,Ms. Dix 's practice focuses on bankruptcy andwhite collar criminal defense and corporate internalrestructuring litigation matters. Prior to joininginvestigations. Ms. Duckett has vast trial experience,Milberg LLP, Ms. Dix was the senior career lawserving as lead counsel and second-chair counsel inclerk to the Hon. Elizabeth S. Stong, United Statesmultiple trials as well as a wide-ranging appellateBankruptcy Court, Eastern District of New York.practice including drafting victorious, publishedPrior to her clerkship, Ms. Dix was with Gibson,appellant briefs and arguing orally before theDunn & Crutcher, and she was a senior associateCalifornia Court of Appeal.with Kaye Scholer LLP. Ms. Dix was one of the

senior team members in several high profile Ms. Duckett's representative matters include:bankruptcy matters including The Finova Group, Avon Products, Inc. in civil and criminal FCPAInc., American Pad & Paper Company, and investigation by Department of Justice and SecuritiesMedicalogic/Medscape, Inc., and represented and Exchange Commission; Broadcom CorporationJamesway Corporation, Caldor, Inc, The Power in civil and criminal options backdating investigationCompany of America, Inc. and Integrated Health by U.S. Attorneys' Office and Securities andServices, Inc. in their bankruptcies. Ms. Dix has Exchange Commission; Hertz Corporation in multi-significant experience in all aspects of bankruptcy plaintiff employment discrimination action seekingpractice including confirmation of plans of several millions of dollars, winning summaryreorganization, preparation of bankruptcy cases and judgment and prevailing in the court of appeal;post-filing administration, bankruptcy sales, and out Represented Kaiser Foundation Healthplan in multi-of court workouts and restructuring transactions. plaintiff ADA action, negotiating very favorablePrior to private practice, Ms. Dix served as law clerk settlement for client; and DaimlerCluyslerto the Hon. Conrad B. Duberstein, Chief Judge, Corporation in multi-plaintiff employmentUnited States Bankruptcy Court, Eastern District of discrimination action seeking several millions ofNew York. dollars, negotiating very favorable settlement for the

Ms. Dix served on the local rules revision client.

committees for the United States Bankruptcy Courts Ms. Duckett is active in the Los Angeles Countyfor the Southern and Eastern Districts of New York. Bar Association, Beverly Hills Bar Association,She served as a member of the Federal Judicial UCLA School of Law and California MinorityCenter's committee for continuing legal education Counsel Program. Los Angeles Magazine named Ms.training of attorneys in the judiciary, and participated Duckett a Southern California Super Lawyers Risingin the creation of a nationally shown training film for Star for 2006, 2007, 2008, 2009, and 2010. Ms.judicial law clerks.

Duckett is a member of the Firm's DiversityCommittee



HENRY KELSTON received a B.S. degree, cum favorable partial settlements); In re Soybean Futures

laude, from Tufts University in 1975, and a J.D. Litigation, No. 89-7009 (N.D. Ill.) ($21,500,000 class

degree from New York University School of Law in settlement providing claiming class

1978, where he was a member of the Annual Survey members/soybean futures traders a full recoveryof American Law. under plaintiffs' expert's formula); In re Sumitomo

Mr. Kelston's practice is concentrated in the Copper Litigation, 74 F. Supp. 2d 393, 395(S.D.N.Y. 1999) ("The recovery is the largest classareas of complex litigation and electronic discovery.action recovery in the 75 plus year history of theMr. Kelston has extensive experience in state andCommodity Exchange Act."); Kohen v. Pacificfederal court litigation, administrative proceedings,Investment Management Company, LLC, No. 05-and arbitrations. Prior to joining Milberg, he

practiced at Proskauer Rose in New York and Siegel, 4681 (N.D. II.) (certified class of treasury bond

O'Connor & Kainen in Connecticut. futures purchasers alleging manipulation of thefutures market); Leider v. Ralfe, No. 01-3137

Mr. Kelston is admitted in the courts of the (D.N.J.) (alleging price-fixing and monopolization in

States of New York and Connecticut, as well as the the diamond market by DeBeers resulting in a

United States District Courts for the Southern District settlement of $250,000,000 and extensive injunctive

of New York, the Eastern District of New York and relief), and In re Natural Gas Commoditiesthe District of Connecticut. Litigation, 03-6186 (S.D.N.Y.) ($101 million

PEGGY J. WEDGWORTH received a B.A. settlement). While a partner at her previous firm, shewas involved in numerous antitrust cases including,degree, in 1982 from Auburn University, and her J.D.

degree from University of Alabama Law School in Air Cargo Shipping Services Antitrust Litigation, In

1986. Ms. Wedgworth was an Assistant District re Digital Music Antitrust Litigation, In Re Chocolate

Attorney in Brooklyn, New York from 1986 to 1989. Confectionary Antitrust Litigation, In re AftermarketFilters Antitrust Litigation, In Re Rambus AntitrustSince leaving the public sector in 1989, she hasLitigation, and In re Flash Memory Antitrusthandled various securities, commodities, and antitrustLitigation. Ms. Wedgworth speaks on topics relatingmatters. She has litigated antitrust and commodities

class actions on behalf of plaintiffs including to antitrust litigation, most recently speaking to theNew York State Bar, Antitrust Division in Januaryextensive experience in all aspects of pre-trial and2008. She also has extensive experience in securitiesdiscovery in, among other cases, In re Brand Namelitigation including most recently In re Initial PublicPrescription Drugs Antitrust Litigation, No. 94-987,

1996 WL 351180 (N.D. Ill. June 24, 1996) Offering Securities Litigation, which recently

(approving $351 million settlement); In re NASDAQ settled for $586 million.Market-Makers Antitrust Litigation, No. 00-1332

While in law school, Ms. Wedgworth was a(S.D.N.Y.) ($1,027,000,000 settlement); In remember of the Moot Court Board and served as

Microsoft Litigation, No. 00-1332 (D. Md.)Manager of the National Moot Court Team.

(consolidated class actions alleging long termunlawful maintenance of a monopoly and otheranticompetitive conduct by Microsoft resulting

Special Counsel

ARTHUR R. MILLER heads the Firm's appellate Professor Miller is currently a University

practice. He is the nation's leading scholar in the Professor at New York University School of Law.

field of civil procedure, a subject about which he has This professorship is conferred on outstanding

authored or co-authored numerous articles and more scholars in recognition of the interdisciplinary

than 40 books. These include his treatise, Federal dimension and breadth of their work. Previously,

Practice and Procedure, which is relied upon by Professor Miller was the Bruce Bromley Professor of

federal judges throughout the country as the principal Law at Harvard, where he earned his law degree and

authority on federal practice. He also wrote Civil taught for 36 years.Procedure, the casebook used by most U.S. lawschools.



In recent years, Professor Miller has actively show Miller's Court for eight years and hasparticipated in numerous cases, particularly in federal commented regularly on legal matters for Court TV.appellate courts. He has argued in all of the U•S• Professor Miller was appointed by two ChiefCourts of Appeal and in the U.S. Supreme Court, Justices of the U.S. Supreme Court to serve as amost recently in Tellabs Inc. v. Makor Issues & member and reporter on the Advisory Committee onRights Ltd. Civil Rules of the Judicial Conference of the United

Professor Miller is the recipient of numerous States. He has additionally served as reporter andawards, including five honorary doctorates, three advisor to the American Law Institute, and as aAmerican Bar Association Gavel Awards and a member of various American Bar AssociationSpecial Recognition Gavel Award for promoting committees, among others. In addition, Professorpublic understanding of the law. A renowned Miller was appointed by President Ford to serve oncommentator on law and society, he won an Emmy the United States Commission on New Technologicalaward for his work on "The Constitution: That Uses of Copyrighted Work.Delicate Balance," an acclaimed PBS series hemoderated. Professor Miller also served for twodecades as the legal editor for ABC's Good MorningAmerica. In addition, he hosted the weekly television

Associates

LAUREN BLOCK received a B.A. degree, cum ALASTAIR FINDEIS received his B.S. degreelaude, from University of Pennsylvania in 1982, from the Virginia Military Institute in 1996 and hisand a J.D. degree from George Washington MS. from the University of Virginia in 2000. InUniversity Law School in 1985. 2003, he earned his J.D. from Georgetown

University.Ms. Block focuses her practice on securitiesclass action litigation on behalf of defrauded Mr. Findeis focuses his practice on theinvestors, antitrust litigation, derivative litigation, representation of whistleblowers, public and privateand complex commercial litigation. She was payors, and injured consumers in litigationadmitted to the bars of New York and Pennsylvania involving healthcare fraud and abuse, includingin 1986. False Claims Act, mass tort, class action, and other

complex litigation. Prior to joining Milberg, heJENNIFER S. CZEISLER graduated from

gained extensive experience in pharmaceuticalHofstra University in 1994 with a B.A. degree inpsychology. After completing graduate degree litigation. Prior to attending graduate school, Mr.

Findeis was a Sub-Lieutenant in Britain's Royalwork at Hunter School of Social Work (1994-95),Navy, graduating from the Britannia Royal Naval

she pursued a J.D. degree, which she earned in 1999College and serving on HMS London. Mr. Findeis

from the University of Miami School of Law,was admitted to the New York State bar in 2004

where she graduated cum laude. Ms. Czeisler wasand is a member of Taxpayers Against Fraud

on the editorial board of the Law Review ofPsychology, Public Policy & Law and earned ANNE K. FORNECKER received her B.A.numerous awards, including the CALI excellence degree magna cum laude from James Madisonfor the Future Award, Dean's Certificate of University. In 2002, she received her J.D. cumAchievement Award, and membership in the Phi laude from Brooklyn Law School. While in lawDelta Phi National Honor Society. school, Ms. Fornecker was a member of the

Brooklyn Law Review.Ms. Czeisler is admitted to practice in the Stateof New York and is a member of the American Bar Ms. Fornecker focuses her practice on antitrustAssociation, where she is committed to her pro class action litigation. Prior to joining Milberg, shebono work with the American Bar Association gained extensive experience in pharmaceuticalCommission on Legal Problems of the Elderly. antitrust class action litigation. She is admitted to



the bar of New York and is admitted to practice in United States Court of Appeals for the Second

the United States District Courts for the Southern Circuit.and Eastern Districts of New York. Mr. Haker is admitted to practice in the State of

MICHELLE FURUKAWA focuses her practice New York and in the United States District Court

on securities, consumer, and antitrust litigation, for the Southern District of New York.While in law school, Ms. Furukawa served as co-

TODD KAMMERMAN received his B.A. degreeeditor-in-chief of the UCLA Asian Pacific cum laude with honors in Politics from BrandeisAmerican Law Journal, clerked for the U.S.

University in 1999. In 2002, he received his ID.Securities & Exchange Commission, Division of

degree from the Benjamin N. Cardozo School ofEnforcement, and was a judicial extern for the

Law. While at Cardozo, he was named anHonorable Sheri Bluebond, U.S. Bankruptcy Court,

Alexander Fellow, through which he worked as aCentral District of California. Ms. Furukawa is on

judicial intern in the chambers of the Honorablethe Board of Governors of the Japanese American

Joseph A. Greenaway, Jr., U.S.D.J. in Newark, NewBar Association of Greater Los Angeles, and is a Jersey. Mr. Kammerman is a member of the bars ofmember of the Association of Business Trial the States of New York and New Jersey and isLawyers and Consumer Attorneys Association of admitted to practice before the United StatesLos Angeles. She sits on the Firm's Diversity District Courts for the District of New Jersey,Committee Southern District of New York, Eastern District of

OREN HAKER received his B.A. degree from Michigan and the Eastern District of New York and

Rice University in 1996. In 2003, he received his the United States Courts of Appeals for the ThirdJ.D. from Columbia University School of Law. and Eleventh Circuits.

Mr. Haker has extensive experience in Mr. Kammerman focuses his practice on

bankruptcy and restructuring litigation matters, litigation involving defrauded investors and

representing debtors, creditors, and investors in consumers. Mr. Kammerman' s successful

distressed situations, as well as purchasers of litigations include In re CMS Energy Securitiesdistressed assets in bankruptcy. Mr. Haker has Litigation, No. 02-72004 (E.D. Mich.) ($200

represented Chapter 11 debtors such as million recovery); In re Royal Dutch/ShellLyondellBasell Industries, St. Vincent Catholic Transport ERISA Litigation, No. 04-1398 (D.N.J.)

Medical Centers, Northwest Airlines, Adelphia ($90 million recovery); Schemer v. i2 Technologies,Business Solutions, and Bethlehem Steel. He also et al., No. 01-418 (N.D. Tex.) ($87.8 million

served as counsel to Bear Stearns in preparation for recovery); and In re Collins & Aikman Corporationa Chapter 11 filing and Lehman Brothers Europe Securities Litigation, No. 03-71173 (E.D. Mich.)

Inc. in its administration proceedings in the United ($10.8 million recovery).Kingdom. Mr. Haker has represented creditors, Mr. Kammerman played a pivotal role in the Insuch as bank steering and bondholder committees,

re Comverse Technology, Inc. Derivative Litigationin financial restructuring and Chapter 11 cases ($62 million recovery), particularly in drafting theincluding Truvo, Owens Corning, and Trump appellate briefs which led to the seminal New YorkAtlantic City Casinos. He has also represented the Appellate Division opinion, reported at 56 A.D.3dPresidential Task Force on the Auto Industry in the 49 (2008), clarifying the standards of demandDelphi Chapter 11 case. futility, and holding that a board of directors loses

Prior to joining Milberg, Mr. Haker served as the protection of the business judgment rule where

an associate in the restructuring departments at there is evidence of self-dealing and poor judgment

Cadwalader, Wickersham and Taft LLP and Weil, by the directors. He was also a member of the teamGotshal & Manges LLP. that litigated the appeal in Tellabs, Inc. v. Makor

Issues & Rights, Ltd. before the United StatesWhile in law school, he was a member of theSupreme Court, in which the Supreme Court issued

Columbia Law Review and a Harlan Fiske Stone

Scholar, and he worked as a judicial intern in thean opinion defining the pleading standard forscienter in all federal securities fraud cases, and is

chambers of the Honorable Robert A. Katzmann,reported at 551 U.S. 308 (2007).



JOSHUA KELLER graduated from the litigations, including Avandia, Baycol, Accutane,

University of North Carolina in 1998 and from Ortho Evra, ReNu, and Yaz/Yasmin. She has

Albany Law School of Union University in 2004. participated as a moderator and presenter at

Prior to entering law school, Mr. Keller was a Trial pharmaceutical meetings and conferences on a

Preparation Assistant in the New York County variety of subjects. Ms. Maniatis is a participant in

District Attorney's Office. While in law school, the American Association for Justice ("AAP)

Mr. Keller was associate editor of Albany Law Avandia Litigation Group, having served as the

Review and participated in the Senior Prize Trials moderator for the Group's continuing legalcompetition. education section at AAls 2009 and 2010

conferences. While in law school, Ms. ManiatisMr. Keller focuses his practice on securitiesearned a scholarship from the Hofstra Universityclass action litigation on behalf of defraudedSchool of Law Trial Advocacy Program, whichindividual and institutional investors. He currentlyshe continues to participate in as an adjunct faculty

represents classes in several securities fraud andmember teaching trial advocacy. She is currently

consumer fraud class actions.an active member of the New York State Trial

Mr. Keller is admitted to practice in the courts Lawyers Association and AAJ. Ms. Maniatis also

of the States of New York and Colorado. He is also serves as the co-chair of Milberg's women's

admitted to practice in the United States District committeeCourt for the Southern District of New York and

ROLANDO MARQUEZ received a B.S. degreeNorthern District of Illinoisfrom Brown University in 1994 and his M.S. degree

JEAN LEE graduated from New York from New York University in 1998. In 2003 he

University with a B.A. degree in Politics and received his J.D. degree from Fordham Law School.Psychology and a M.S.W. in Social Work. Ms. Lee

Mr. Marquez is part of the False Claims Actreceived her J.D. degree from Rutgers School of

Law. Ms. Lee focuses her practice in the area of practice group, representing whistleblowers inactions primarily involving Medicare and Medicaid

securities class action and false claims litigation.fraud. He was also part of the Milberg team thatPrior to joining Milberg, Ms. Lee worked as anserved as co-lead plaintiffs' counsel in a securities

associate at a New York law firm concentrating infraud and accountant liability class action suit that

the area of securities fraud and antitrust litigation.settled for over $3 billion.

Prior to private practice, Ms. Lee was the law clerk

to the Honorable John J. Hughes, United States Prior to joining Milberg, Mr. Marquez was anMagistrate Judge, in the District of New Jersey. associate at a patent boutique firm, where he

concentrated on patent litigation matters involvingDuring law school, Ms. Lee was a Senior Editormedical device, computer software, and consumerof the Rutgers Law Record. She is currently the Co-electronic device technologies.Chair of the Diversity Subcommittee of the

Litigation Section of the American Bar Association, Mr. Marquez is also admitted to practice in the

the Co-Chair of the Women's Committee of the United States District Courts for the Southern and

Asian American Bar Association of New York, and Eastern Districts of New York and the United States

a member of the Asian American Bar Association's Patent and Trademark Office.Board of Directors. She is also a member of the

JOHN R. S. MCFARLANE received a B.Comm.New York State Bar Association, the Internationaldegree from Dalhousie University School ofAssociation of Korean Lawyers, and the Firm'sBusiness Administration in 1996, and an LL.B fromDiversity Committee.Dalhousie Law School in 2002. Mr. McFarlane

VICTORIA J. MANIATIS received her B.A. focuses his practice on class actions on behalf of

degree from Pennsylvania State University in 1990 defrauded investors, as well as actions against

and J.D. degree from Hofstra University School of various mutual fund families in which Milberg has

Law in 1993. Ms. Maniatis focuses her practice on been appointed lead counsel, including In replaintiffs' mass torts in pharmaceutical and medical American Express Financial Advisors Securitiesdevice cases and has worked with Plaintiffs' Litigation (S.D.N.Y.). Prior to joining Milberg , he

Steering Committees across the country in several



practiced securities law at Cassels, Brock & school, he was awarded the Moot Court Eve AwardBlackwell LLP in Toronto, Ontario. for Best Advocate.

Mr. McFarlane was admitted to the Law Mr. Muzingo is admitted to practice law inSociety of Upper Canada in 2003 and the New New York and Michigan.York State bar in 2006.

CHRISTOPHER ORRICO received a B.A. inELIZABETH MCKENNA focuses her practice Economics from Yale University in 2005, a J.D.

primarily on antitrust litigation as well as on from Villanova School of Law in 2009, and asecurities class action litigation on behalf of M.B.A. from the Villanova School of Business indefrauded individuals and institutional investors. 2009.Prior to joining Milberg, Ms. McKenna was an Mr. Orrico focuses his practice primarily onassociate in the New York office of Healy & securities class action litigation on behalf ofBaillie, LLP (now part of Blank Rome LLP), where defrauded investors.she practiced general commercial litigation. Ms.McKenna graduated from Fordham Law School in Prior to law school, Mr. Orrico worked as an1998. While at Fordham, she was a Stein Scholar account coordinator at a national advertising firm.in Public Interest Law & Ethics, a member of the As an undergraduate, he was captain of the 2005Fordham Environmental Law Journal, and a Co- Yale baseball team.Director of the Fordham Student Sponsored He is a member of the Connecticut BarFellowship. Ms. McKenna is admitted to practice Association, the New York County Lawyersin the state courts of New York and in the United Association, and the American Bar Association.States District Courts for the Southern and EasternDistricts of New York. He is admitted to practice in the courts of the

States of Connecticut and New York.ELIZABETH METCALF attended Colorado

College where she received her B.A. in 1992. She ROLAND RIGGS received a B.A. from Trinityreceived her J.D. degree from Fordham University College in Hartford, Connecticut in 1999, and a J.D.School of Law in 2008. Ms. Metcalf focuses her cum laude from Case Western Reserve in 2004. Mr.practice primarily on securities fraud litigation. Riggs's practice focuses on securities litigation andPrior to law school, she worked as a financial consumer fraud. Among other cases, he currentlyresearch analyst at a class action securities fraud represents defrauded investors in In re Merck & Co.law firm. During law school, she was a member of Securities Litigation, and In re Oppenheimerthe Fordham International Law Journal, and she Rochester Funds Group Securities Litigation, asserved as a legal intern at the Securities Arbitration well as defrauded consumers in The NVIDIA GPUClinic of Fordham University School of Law, Litigation. Prior to joining Milberg LLP, Mr. Riggsobtaining a punitive damages award before an worked at a boutique firm in New York practicingarbitration panel under the Financial Industry and securities litigation. During law school, Mr. RiggsRegulatory Authority. served as a clerk for one summer for the Hon.

Alfred V. Covello of the United States DistrictJOSEPH MUZINGO focuses his practice on Court for the District of Connecticut. He later

securities and antitrust class actions on behalf of worked at McLaughlin & McCaffrey, LLP indefrauded investors and consumers. He currently Cleveland, OH in the areas of commercial litigationrepresents shareholders in actions against various and white collar criminal defense, and did pro bonomutual fund families including In re American corporate work representing charities at the MiltonMutual Funds Fee Litigation (C.D.Cal.). In A. Kramer Law Clinic. Prior to law school, Mr.addition, he represents plaintiffs in the Sirus/XM Riggs worked in IT and computer programming.Satellite Radio Antitrust Litigation (S.D.N.Y.).

Mr. Muzingo received an academic scholarship WILLIAM B. SCOVILLE, JR. received a B.A.to attend Michigan State Law School, where he degree from Yale University in 1985 and a J.D.served as a member of the Moot Court board for degree with Specialization in International Legalthree semesters. During his second year of law Affairs from Cornell Law School in 1992. As a law



student, he participated in Cornell's Legal Aid in a variety of matters involving Australia'sClinic, Criminal Justice Clinic, and Prison Project. antitrust (trade practices) laws, corporations law,

and general business and property law.Mr. Scoville's practice consists primarily ofcomplex securities and antitrust litigation. He is Mr. Slidders has been influential in shaping thefluent in French, Spanish, and Russian. Mr. Scoville law in Australia. He precipitated the retrospectivewas a key member of the trial team that obtained a amendment of Victoria's domestic building lawsfavorable verdict in In re Vivench Universal after finding a loophole in the legislation that heSecurities Litigation following a four-month jury successfully litigated before the Supreme Court oftrial in the Southern District of New York. Victoria. He also initiated one of Australia's largest

JESSICA SLEATER received a B.A. from multiparty claims alleging breach of fiduciary

Truman State University in 2002, and a J.D. from duties by property developers.

Saint Louis University School of Law in 2007. Ms. Mr. Slidders' firm was preferred counsel forSleater's practice focuses on class action litigation Victoria's farming community through theinvolving defrauded investors and consumers in Victorian Farmers Federation - the bodyfederal and state courts. Ms. Sleater also has representing more than 20,000 Victorian farmers.experience in shareholder litigation and has He has acted in agribusiness matters involving traderepresented the rights of public shareholders of practices issues against multinational grain tradecompanies, whose management had agreed to a companies (disputes involving hundreds of millionscorporate buyout, merger, or other corporate of dollars of derivative contracts on the CBOT). Hetransaction. has also advised shareholders in a derivative dispute

Prior to joining the Firm, Ms. Sleater most with the management of one of Australia's leadingrecently practiced at a boutique firm in New York egg wholesalers.specializing in securities litigation. She also Mr. Slidders is admitted to the bar of Newpreviously worked for the Metropolitan York and is admitted to practice law in Victoria,Transportation Authority-New York City Transit Australia.and was an Assistant Attorney General for the Stateof Missouri. During law school, Ms. Sleater served ANDREW SOKOLOWSKI focuses his practiceas a law clerk for the Equal Employment on consumer class actions, securities class actions,Opportunity Commission, the U.S. Department of and shareholder derivative lawsuits. Among otherAgriculture, and the Missouri Attorney General's cases, Mr. Sokolowski represents consumersOffice. Also while in law school, Ms. Sleater was prosecuting claims against banks accused of unfairselected as the Editor-in-Chief of the Saint Louis lending and credit practices. Before joiningUniversity Public Law Review. Milberg, Mr. Sokolowski worked for law firms

litigating various complex business disputes andMs. Sleater is admitted to practice in the courtsreal estate matters.of the States of New York and Missouri, as well as

the United States District Courts for the Southern Mr. Sokolowski received his B.A. in Historyand Eastern Districts of New York. from the University of California, Los Angeles, and

CHARLES SLIDDERS received his L.L.B., from his J.D. from Loyola Law School, where hefinished in the top 5% of his class and served as anMelbourne University in 1994, with honors, and his

L.L.M, from Monash University in 2002. Mr. Articles Editor for the Loyola of Los Angeles Law

Slidders is an experienced commercial litigator with Review. Between college and law school, Mr.

almost fifteen years of litigation experience. Prior Sokolowski served in the United States Army as an

to joining Milberg in 2008, Mr. Slidders was the infantryman, and was stationed at Fort Lewis,

principal and founding partner of one of Melbourne, Washington.

Australia's premier boutique commercial litigation Mr. Sokolowski is a member of the Board offirms. He has frequently appeared in Australia's Governors (2009 — present) for the Association ofmainstream media in relation to his legal work. Business Trial Lawyers' Los Angeles chapter, and

Mr. Slidders has significant experience in he serves as co-editor of the chapter's ABTL Report.

plaintiffs' and class action litigation. He has acted

Mr. Sokolowski is also a member of the Consumer



Attorneys Association of Los Angeles and the Los Appeals. Mr. Snitow was then assigned to theAngeles County Bar Association. Special Prosecutions Bureau where he investigated

and prosecuted a variety of white collar crimes.Mr. Sokolowski is admitted to practice in thecourts of the State of California, as well as all Mr. Snitow is a member of the bars of theUnited States District Courts in California and the States of New York and New Jersey and is admittedUnited States Court of Appeals for the Ninth to practice before the United States District CourtsCircuit. for the Southern and Eastern Districts of New York.

JENNIFER J. SOSA graduated from ANNE MARIE Vu received her B.A. degree inNortheastern University with a B.S. degree in Political Science and French from the University ofChemical Engineering, cum laude, in 2002. In Portland in 2000. She spent an academic year2005, she earned her J.D. degree from Temple studying at the Universite de Paris-IV (LaUniversity Beasley School of Law. During law Sorbonne) in Paris, France. Ms. Vu earned her J.D.school, she was a member of the Environmental degree from the Benjamin N. Cardozo School ofMoot Court Team and was awarded the David Sive Law in 2003.Award for Best Brief overall in the 2004 Pace

Ms. Vu's practice is focused on securities,National Environmental Law Moot Court

consumer and class action litigation in federal andCompetition.

state courts. She assisted in prosecuting the claimsMs. Sosa focuses her practice on ERISA of an international class of plaintiffs in In re

litigation and is actively involved in a number of Vivendi Universal, S.A. Securities Litigation. Ms.matters including In re Boston ScientificCorp. Vu also has experience in shareholder litigation andERISA Litigation (D. Mass.), In re Morgan Stanley has represented the rights of public shareholders ofERISA Litigation (S.D.N.Y.), and In re First companies whose management had agreed to aAmerican Corp. ERISA Litigation (CD. Cal.). Ms. corporate buyout, merger or other corporateSosa has also concentrated part of her practice on transaction. Among the cases in which Ms. Vu andclass actions against defrauded stockholders in her colleagues have successfully representedcases such as South Ferry LP ft 2 v. Killinger, et al. shareholders in corporate takeover litigation are: In(W.D. Wash.), as well as the investigation and re Topps Company, Inc. Shareholder Litigation, Inprosecution of antitrust and consumer protection re Applebee's Shareholder Litigation, and In reactions. Republic Services Shareholder Litigation.

Ms. Sosa is admitted to practice law in the During law school, Ms. Vu clerked for a judgeEastern and Southern Districts of New York and the at the New York State Supreme Court, served as aDistrict of New Jersey, as well as New York and legal intern at the Federal Trade Commission, andNew Jersey state courts. Prior to law school, Ms. was a member of the Willem C. Vis InternationalSosa worked as a Chemical Engineer. Moot Competition, which competes annually in

GARY SNITOW received his B.S. degreeVienna, Austria.

magna cum laude in Accounting from Yeshiva Ms. Vu is admitted to practice in the courts ofUniversity's Sy Syms School of Business in 2002. the States of New York and California, as well asIn 2005, he received his J.D. degree from the the United States District Courts for the SouthernFordham University School of Law. Prior to and Eastern Districts of New York, the Centraljoining Milberg, Mr. Snitow served as an Assistant District of California, the District of Colorado, theDistrict Attorney in the New York County District United States District Court for the District ofAttorney's Office. While at the District Attorney's Colorado and the United States Court of AppealsOffice, Mr. Snitow was initially assigned to the for the Tenth Circuit. She is fluent in VietnameseAppeals Bureau where he prepared appellate briefs and French and is a member of the Firm's Diversityand represented the District Attorney at oral Committeearguments before the Appellate Division, FirstDepartment and the New York State Court of


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Notice of Electronic Filing or Other Case Activity

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The following transaction was received from by Westerman, Jeff entered on 1/3/2011 10:09 PM PSTand filed on 1/3/2011Case Name: Kovtun v. Vivus, Inc. et alCase Number: 4:10-cv-O4957-PJHFiler: John IngramDocument Number: 11

Docket Text:Declaration of Jeff S. Westerman in Support of [10] MOTION to Appoint Lead Plaintiffand Lead Counsel filed byJohn Ingram. (Attachments: # (1) Exhibit A, # (2) Exhibit B, #(3) Exhibit C, # (4) Exhibit D, # (5) Exhibit E)(Related document(s)[10]) (Westerman, Jeff)(Filed on 1/3/2011)

4:10-cv-04957-PJH Notice has been electronically mailed to:

Jeff S. Westerman [email protected] , [email protected]

Michael M. Goldberg [email protected]

Nicole Marie Duckett [email protected] , [email protected]

4:10-cv-04957-PJH Please see General Order 45 Section IX (2.2 and D; Notice has NOT beenelectronically mailed to:

https://ecfcand.uscourts.gov/cgi-bin/Dispatch.pl?401

The following document(s) are associated with this transaction:

Document description:Main DocumentOriginal ffiename:C: \ fakepath\ Declaration.pdfElectronic document Stamp:[STAMP CANDStamp ID=977336130 [Date= 1/3/20111 [FileNumber=7036778-01 [42a4ca55be87b3a057c7c641aeec63922907091aeefed413dde7cfleef588c0edd0 1d5c4832b5ecb56ea21333bee097318db54c61c94bd2e59f760f90973f4 1e]]Document description:Exhibit AOriginal ffiename:C: \ fakepath\ Declaration Ex A.pdfElectronic document Stamp:[STAMP CANDStamp ID=977336130 [Date= 1/3/20111 [FileNumber=7036778-1] [4338700025753 ef8916a822b7b32af4d7falaad6728515f97795d0cd037d7a0fb75c236836b3f69e6f47643a73eb5ee74159115718a841c12307e5fbacfaab6311Document description:Exhibit BOriginal ffiename:C: \ fakepath\ Declaration Ex B.pdfElectronic document Stamp:[STAMP CANDStamp ID=977336130 [Date= 1/3/20111 [FileNumber=7036778-21 [1423ceceb1b43f64ec47a6 1bf079341330efce3ca84f5506afc6512458518c924e0cb3e 1f228fcbal 6b4acbecb8cb9f9 3aad ld 1 eebb4Odbafbe88970f15e87e111Document description:Exhibit COriginal ffiename:C: \ fakepath\ Declaration Ex C.pdfElectronic document Stamp:[STAMP CANDStamp ID=977336130 [Date= 1/3/20111 [FileNumber=7036778-31 [44c4e9daf68cbda083184827f9e545880c7880bcaf0b1c9a7b5ced02a5f267120c4783e3817318833df7a984a8f84d8720c66e5b343cb73be42a2eebef6987M1Document description:Exhibit DOriginal ffiename:C: \ fakepath\ Declaration Ex D.pdfElectronic document Stamp:[STAMP CANDStamp ID=977336130 [Date= 1/3/20111 [FileNumber=7036778-41 [ad9946bfb2d26e48673ba06c3e30e0a00ab9530f82582f22576efbc05db82dfOec19d9dObf5c0c8654c0e69b14c428f83a5f60476270d050171248adeb8dfd1911Document description:Exhibit EOriginal ffiename:C: \ fakepath\ Declaration Ex E.pdfElectronic document Stamp:[STAMP CANDStamp ID=977336130 [Date= 1/3/20111 [FileNumber=7036778-51 [6667604bed86 1 dac7893175d0f3fb lcdd69lee5ccdObbObe59704b3de8edd454287963e8b2eblfe2fc2a27687687fbaa3ce6d8bcabbb89212db2bdafb09bf40811

https://ecfcand.uscourts.gov/cgi-bin/Dispatch.pl?401