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					                         Panel: Challenges And Opportunities With Parallel
                         Proceedings In Court And Arbitration
                         Moderator: Joel Hoxie
                         Snell & Wilmer (Chicago, IL)

                         jhoxie@swlaw.com | 602.382.6264




                     David King                                                Scott Garley
        Bass Berry & Sims (Nashville, TN)                                Gibbons (New York, NY)

      dking@bassberry.com | 615.742.7890                       sgarley@gibbonslaw.com | 212.613.2003


Case Planning and Strategy                                    i) SLUSA requirements for covered class
(a) Jurisdiction and venue considerations                     actions

   i) State law requirements                                  ii) Other potential preemption or removal issues

   ii) FINRA Rule 12213 requirements                       (b) Asserting alternative liability theories in parallel
                                                           proceedings (see Exs. A, B and C)
(b) Availability of proposed claims under applicable law
                                                              i) Inconsistent factual allegations
   i) Applicability of federal and state securities
   statutes                                                   ii) Potential admissions or waivers

   ii) Applicability of state consumer protection             iii) Judicial estoppel
   laws

(c) Preemption and other limitations on proposed           Case Development and Discovery
claims                                                     (a) Effective use of motions directed to the pleadings

(d) Availability of nonparty discovery (see 3(b) below)    (b) Sequencing of parallel proceedings and discovery
                                                           (see Ex. D)
(e) Proper parties
                                                           (c) Availability of nonparty discovery (see Exs. E and F)
Case Presentation and Pleading Issues
(a) Applicability of federal law requirements                 i) Limitations on the enforceability of state court
                                                              and FINRA subpoenas
                                                                 or agreements (see Ex. G)
    ii) Protective    orders    and     confidentiality
    agreements                                                   ii) Central document repository

Case Resolution                                               (b) Agreement to exchange releases as a condition to
(a) Effective disclosure or sharing of relevant information   global mediation or other settlement discussions
and positions

    i) Global discovery and/or confidentiality orders
About Joel Hoxie
Partner | Snell & Wilmer | Phoenix, AZ
602.382.6264 | jhoxie@swlaw.com

Joel P. Hoxie is a senior partner in Snell & Wilmer’s Phoenix office and co-chair of the firm’s Commercial Litigation
Practice Group. He maintains a broad commercial litigation and arbitration practice, with a particular emphasis
on securities and financial services institution litigation in both federal and state courts and arbitration before
SRO, AAA, and other tribunals.

Joel has represented many financial services institutions, including retail and investment banks, commercial
lenders, insurance companies, underwriters, broker-dealers, and venture capital firms in disputes, including class
actions, involving federal and state securities, civil racketeering and consumer protection statutes, and various
common law contract and tort, including lender liability, claims. He has defended numerous broker-dealers,
registered representatives, and investment advisers against claims involving alleged breach of fiduciary duty,
negligence, unauthorized trading, churning, unsuitability, selling away, and failure to supervise. Joel also has
represented other corporate and individual clients on a wide variety of litigation and arbitration matters, including
breach of contract claims, SEC and stock exchange inquiries and investigations, merger and acquisition and
director and officer claims, internal corporate investigations, privately held corporation and partnership disputes,
and predatory raiding and hiring, trade secret, and non-competition issues

In addition to his membership in national, state, and local bar associations, Joel is a member of the Securities
Industry and Financial Markets Association Compliance and Legal Division, The International Association of
Defense Counsel, and the Arizona Association of Defense Counsel. He has served as a faculty member and
author on numerous national, state, and local continuing legal education programs.


Professional Memberships and Awards
   • The Best Lawyers in America®, Commercial Litigation (2006-2012); Banking & Finance Litigation,
      Mergers & Acquisitions Litigation, Securities Litigation (2012); Banking Law (2006-2011)
   • Phoenix Litigation (Securities) Lawyer of the Year (2012)
   • Arizona’s Finest Lawyers (2011)
   • Southwest Super Lawyers®, Business Litigation (2007-2012)
   • Super Lawyers®, Business Litigation - Business Edition (2011)
   • Super Lawyers®, Business Litigation - Corporate Counsel Edition (2008-2010)
   • Ranking Arizona: The Best of Arizona Attorneys, Commercial Litigation (2010-2011)
   • Arizona’s Top Lawyers, AzBusiness Magazine (2010)


Military Service
    • United States Navy, Commissioned, Surface Warfare Officer (1971-1975)


Education
   • University of Iowa College of Law (J.D., with high distinction, 1978) - Order of the Coif
   • Princeton University (A.B., Politics, cum laude, 1971)
About David King
Member | Bass Berry & Sims | Nashville, TN
615.742.7890 | dking@bassberry.com

David King is leader of the Products, Torts and Insurance Litigation Group and co-leader of the Managed Care
Litigation team. He has served as a litigation representative on the firm’s Executive Committee and is a firm
representative in The Network of Trial Law Firms.

David has significant experience and success as a trial lawyer in federal and state court, and in arbitration and
mediation proceedings. Over the course of his career, his practice has focused on healthcare, products liability
and insurance litigation. In the wake of the financial crisis in recent years, David has expanded his practice to
include broker-dealer and financial products litigation.

Broker-Dealer and Financial Products: David has served as lead counsel in a number of broker-dealer arbitrations
stemming from the financial crisis, several of which involve multiple claimants in matters involving financial
products.

Representative matters include:
• David led a team of attorneys in the Nashville and Knoxville offices handling a significant number of arbitrations
   involving the RMK bond funds, while serving as lead counsel in dozens of arbitrations in several states.
• Lead counsel in several claims arising out of losses from a variable annuity product.


Honors and Distinctions
  • Firm leadership: Member, Executive Committee, 2006-2008; Leader, Products, Torts and Insurance
      Group, 2012-present; Firm representative, The Network of Trial Law Firms, Inc., 2009-present
  • Community leadership: President, Hillwood Country Club, 2010 (Board of Directors, 2001-2003;
      2008-2011)
  • Listed in: Best Lawyers®, 2003-present (Commercial Litigation, Health Care Law, Insurance Law,
      Litigation - Securities, Medical Malpractice Law – Defendants, Personal Injury Litigation – Defendants);
      Mid-South Super Lawyers, 2009-present; “The Best Lawyers in Nashville” (Nashville Post magazine,
      2011)


Publications
   • “Providing a Safe Harbor for Those Who Play by the Rules: The Case for a Strong Regulatory
      Compliance Defense,” Utah Law Review (Vol. 2008, No. 1, 2008)


Education
   • University of Tennessee - J.D., 1985
   • University of Tennessee - B.S., 1982
About Scott Garley
Director | Gibbons | New York, NY
212.613.2003 | sgarley@gibbonslaw.com

R. Scott Garley is the Co-Administrative Director in charge of Gibbons’ New York Office. He is a member of the
firm’s Business and Commercial Litigation Department, Chair of its Securities Litigation Team and Co-Chair
of its Private Equity and Hedge Fund Group. Mr. Garley also is a member of the firm’s Sarbanes-Oxley Act
Compliance Committee.

Mr. Garley focuses his practice on litigation, arbitration, investigations and counseling in connection with securities
transactions and regulatory matters, directors and officers liability and corporate governance matters, executive
compensation and employment matters, business tort claims and complex commercial disputes.


Awards and Honors
  • AV® Peer Review Rated by Martindale-Hubbell
  • Listed in Super Lawyers, Securities Litigation, 2006-2011 (New York Metro and Corporate Counsel
     Editions)
  • 2006 Light of Hope Award, Catholic Charities (Diocese of Trenton)


Representative Recent Matters
   • We represented a prominent pharmaceutical securities analyst in connection with SEC, NYAG, NASD
      and AIMR investigations and enforcement proceedings relating to his alleged trading of securities of
      the companies he covered. Gibbons also represented the analyst in a defamation action in New
      York federal court against a public pharmaceutical company and its CEO arising from their public
      statements concerning the analyst’s alleged trading activities. Our motion practice relating to various
      ediscovery issues in the case led to two of the most oft-cited and significant ediscovery decisions to
      date -- Treppel v. Biovail Corp., 233 F.R.D. 363 (S.D.N.Y 2006) (“Treppel IV”) and Treppel v. Biovail
      Corp., 249 F.R.D. 111 (S.D.N.Y. Apr. 2, 2008) (“Treppel VII”). The Treppel opinions have been cited
      in numerous court decisions, treatises, law reviews, articles and blogs as among the most significant
      ediscovery decisions since the seminal Zubulake v. UBS Warburg decisions.
   • We represented a major international pharmaceutical manufacturer in connection with a FINRA
      arbitration and related federal court action against a U.S. brokerage firm and its foreign parent
      to recover losses of almost $300 million arising from the sale of auction rate securities that were
      fraudulently represented and sold to our client as guaranteed student loan securities. As a result of
      their fraudulent scheme and conduct against our client and other corporate investors, the responsible
      directors of the defendant brokerage firm were indicted and later convicted of securities, wire and mail
      fraud in New York federal court.
   • Gibbons represented one of the large offshore feeder funds in connection with the Madoff bankruptcy
      action, Securities Investment Protection Corporation v. Bernard L. Madoff Investment Securities,
      LLC, pending in the U.S. Bankruptcy Court for the Southern District of New York, arising from the $65
      billion Ponzi scheme orchestrated by Bernie Madoff through his investment firm, Bernard L. Madoff
      Investment Securities (“BLMIS”). Our client lost almost $500 million on its investments with BLMIS
      as a result of the massive Ponzi scheme. Gibbons represented and advised the client in connection
      with the prosecution of its claim against the BLMIS Estate, as well as its defense of avoidance claims
      brought by the SIPC Trustee.


Education
   • Fordham University School of Law (J.D., 1981) -- Editor, Fordham International Law Journal
   • Colgate University (A.B., cum laude, 1978
   • St. Catherine’s College, Oxford University (matriculated, 1991-1992)

				
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