Declaration Of Helen J. Hodges In Support Of Lead Counsel's ...

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Fifth Circuit occurred on February 5, 2007. The Fifth Circuit issued its Order reversing certification on March 19, 2007, virtually on the eve of trial. X. EXPERT DISCOVERY AND DISCLOSURES 211. Lead Plaintiff submitted seven expert reports in January 2006: by Dr. Blaine Nye on damages; CPA Saul Solomon on Enron’s accounting; CPA Charles Drott on Andersen’s role; Professor Claire Hill on credit-rating agencies; Joel Finard on investment-banking policies; Craig Shenkman on tax issues; and Professor Bernard Black on disclosure and valuation issues. 212. In response, in March 2006, defendants submitted 40 expert reports that attacked our experts’ opinions: Expert Entity Area of Opinion Comment, Robert Alliance Capital Mgmt. Damages, Enron Zero Coupon Note due 2021, challenges Nye Gilson, Ronald J. Alliance Capital Mgmt. Propriety of Frank Savage of Alliance sitting on Enron’s Board Lacey, John Alliance Capital Mgmt. Reliance on Andersen Foster, John M. Andersen GAAP for Andersen 1997-2Q01; effect of concealed information McEachern, Stephen M. Andersen GAAS for Andersen 1997-2Q01; effect of concealed information Gabaldon, Theresa A. Barclays Conduct and advice of V&E Gibbons, Michael R. Barclays Market efficiency, materiality, loss causation and damages, challenges Nye Greenspan, Ronald F. Barclays Solvency, challenges Black Isaac, William M. Barclays Banking, challenges Finard Lorsch, Jay W. Barclays Responsibilities of BOD, Enron Board’s conduct Miller, Geoffrey Barclays Barclays relationship with V&E Murovitz, Mark I. Barclays Auditing Ronen, Joshua Barclays Accounting Cornell, Bradford CSFB Damages, challenges Nye and Black Hamada, Robert S. CSFB Responsibilities of BOD, Enron Board’s conduct Johnson, Larry CSFB Financial reporting and the role of Andersen Leisner, Richard M. CSFB Practices and procedures of outside counsel; role of V&E Rock, Robert J. CSFB Accounting and financial reporting Schwert, G. William CSFB Damages, challenges Nye’s methods and models Thakor, Anjan V. CSFB Banking Barclay, Mike Deutsche Bank Damages, challenges Nye Erickson, Merle Deutsche Bank Accounting for structured tax transactions Graves, Frank Deutsche Bank Fraud on the market, market efficiency, challenges Nye Haft, Robert Deutsche Bank Due diligence Kearns, Chris Deutsche Bank Solvency, challenges Black Myers, Stewart Deutsche Bank Banking, Marlin and Osprey Share-Trusts Sundaresan, Suresh Deutsche Bank Market efficiency, challenges Nye Burchett, Shannon Lou Pai EES, retail energy market, retail energy products and services and risk management services, business purpose of moving EES into wholesale trading Dewey, Lee M. Lou Pai Accounting regarding EES and disclosures of EES and New Power Tabak, David Lou Pai Loss causation, market efficiency and damages, challenges Nye - 118 -
Expert Entity Area of Opinion Dorris, Gary Merrill Lynch ML’s participation in Energy Trades Dunbar, Fred Merrill Lynch Damages, challenges Nye, ML’s research coverage of Enron, ML’s role as investor in LJM2 Coates, IV, John C. V&E Disclosure documents, role of V&E, challenges Black Fischel, Daniel R. V&E Solvency, challenges Black Glazer, Donald W. V&E Opinion Letters prepared by V&E Hazard, Jr., Geoffrey C. V&E Legal Ethics, conduct of V&E lawyers who worked on matters for Enron Ide III, R. William V&E Professional conduct of V&E lawyers McFadden, Frank H. V&E Reliance on outside counsel, V&E’s role in drafting disclosures Schwarcz, Steven L. V&E Structured finance transactions Wolfram, Charles W. V&E Legal Ethics, activities of V&E and certain of its lawyers who worked on matters for Enron For each of these, our team of lawyers prepared a summary of the expert’s opinions for use in our deposition preparation. 213. In April 2006, we submitted 11 expert rebuttal reports: Expert Bernard Black Saul Solomon Blaine Nye, Ph.D. Joel Finard Scott Hakala Israel Shaked Mark Sargent Susan Koniak George Cohen Claire Hill Craig Shenkman Area of Opinion Disclosures, Insolvency Accounting Damages and Market Efficiency Investment Banks Damages Valuations, Insolvency Lawyer Ethics and Conduct Lawyer Ethics and Conduct Lawyer Ethics and Conduct Credit Rating Agencies Tax Transactions 214. All experts were deposed as set forth below after the Court denied defendants’ motion to postpone the depositions. DEPONENT NAME DATE OF DEPOSITION DESIGNATING PARTY LOCATION ATTORNEYS PRESENT Barclay, Michael 05/17/06-05/18/06 Deutsche Bank NYC Anne Box Black, Bernard 04/20/06-04/21/06 Lead Plaintiff Houston Jaime Baskin, Paul Howes Burchett, Shannon 05/22/06 Lou Pai Houston Xan Bernay Coates, John 05/18/06-05/19/06 Vinson & Elkins New York Jaime Baskin Cohen, George 05/22/06-05/23/06 Lead Plaintiff Washington, D.C. John Pierce Comment, Robert 05/02/06 Alliance Capital Houston Anne Box, Kate Splan Cornell, Bradford 05/10/06 CSFB Houston Jaime Baskin Dewey, Lee 05/08/06-05/09/06 Lou Pai Houston Anne Box, Kate Splan Dorris, Gary 05/10/06 Merrill Lynch Houston Bobby Henssler Drott, Charles 04/25/06-04/26/06, Lead Plaintiff Houston James Jaconette 04/28/06 Dunbar, Frederick 05/22/06 Merrill Lynch NYC Paul Howes Erickson, Merle 05/18/06-05/19/06 Deutsche Bank NYC Matt Siben Finard, Joel 04/27/06-04/28/06 Lead Plaintiff Houston Shawn Hays, John Lowther Fischel, Daniel 05/24/06 Vinson & Elkins Houston Patrick Coughlin Foster, John 05/15/06-05/17/06 Andersen New York James Jaconette Gabaldon, Theresa 05/04/06 Barclays Houston Xan Bernay - 119 -
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UNITED STATES DISTRICT COURT SOUTHE
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2. The Parties Establish a Document
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I, HELEN J. HODGES, declare as foll
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• Reviewed over 70 million pages
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6. The above recoveries were based
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gathered and which the banks and En
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14. In this endeavor, Coughlin Stoi
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17. Lead Counsel prosecuted the lit
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[T]his representation has been unde
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and the necessary involvement with
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case. The Court hereby awards attor
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published an article, “Enron Jolt
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statements. We compiled profiles on
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34. We had no way of knowing whethe
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which witnesses to pursue, but cont
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the market in October 2001. The ana
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said it was unable to determine whe
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depositions because discovery was p
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65. After the motion was filed, The
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institutional plaintiffs, their rep
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drawing on the expertise of our in-
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83. On May 3, 2002, the Preferred P
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finance certain of the partnerships
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and participated in a scheme to def
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(j) Arthur Andersen LLP (Docket No.
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Lead Plaintiff had adequately alleg
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(a) The Court ruled that Lead Plain
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director of New Power, and issuance
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94. On September 26, 2002, Lead Pla
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mandamus review, and that the Court
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106. On May 6, 2003, defendant Citi
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scheme, and certain specific allega
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pled with the requisite particulari
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Merrill Lynch and Deutsche Bank Ent
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4. Motions to Intervene Additional
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Page 75 and 76: 121. On May 7, 2003, the Outside Di
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Page 79 and 80: 131. As part of discovery, Lead Cou
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Page 85 and 86: 133. Document requests and subpoena
Page 87 and 88: 139. In responding to the document
Page 89 and 90: 146. In addition to JPMorgan’s in
Page 91 and 92: 10. Requests for Admission 152. In
Page 93 and 94: Protocol Order provided for the ord
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Page 97 and 98: Deponent Entity Date[s] Location No
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Page 111 and 112: 187. Lead Counsel made further supp
Page 113 and 114: April 16, 2004, Lead Counsel filed
Page 115 and 116: 195. On April 13, 2004, defendants
Page 117 and 118: Plaintiffs’ Investors Partner Lif
Page 119 and 120: • Outside Directors’ Memorandum
Page 121: 208. A two-day hearing was held reg
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Page 127 and 128: nature of Enron’s financial condi
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Page 131 and 132: primarily involving Deutsche Bank,
Page 133 and 134: We filed a notice of request for se
Page 135 and 136: 236. Bankruptcy Examiner Batson him
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Page 139 and 140: proceeds for our settlement. Thus,
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Page 143 and 144: team; for example, we reviewed info
Page 145 and 146: Court ruled that Lead Plaintiff fai
Page 147 and 148: Opposition to Deutsche Bank’s Mot
Page 149 and 150: Sec. Litig., 443 F.3d 987 (8th Cir.
Page 151 and 152: Plaintiff’s Opposition to Motion
Page 153 and 154: dated June 5, 2006 as It Pertains t
Page 155 and 156: the Pleadings (Docket No. 5019). On
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Page 161 and 162: y the court and cited in In re Cend
Page 163: 296. Attached hereto as Ex. 2 is a
Page 166 and 167: ADDITIONAL SERVICE LIST Stuart Yoes
Page 168 and 169: ENRON COUGHLIN STOIA GELLER RUDMAN
Page 170 and 171: Name Title Hours Rate Lodestar Meye
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ENRON - SUMMARY OF PLAINTIFFS' FIRM
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EXHIBIT 4
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TOP SECURITIES SETTLEMENTS Case Nam
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Exhibit Listings and Notes regardin
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