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

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First complaint filed October 22, 2001 [Newby filed] Lead Plaintiff motions filed December 21, 2001 The Regents of the University of California appointed Lead Plaintiff February 15, 2002 Consolidated complaint filed April 8, 2002 Defendants file 41 motions to dismiss May 8, 2002 Lead Plaintiff’s motions-to-dismiss oppositions filed June 10, 2002 Motion for Class Certification filed October 1, 2002 Motion to Dismiss Memorandum and Order re Secondary Actors December 20, 2002 First Amended Consolidated Complaint filed May 14, 2003 Amended Motion for Class Certification filed May 28, 2003 Class certification discovery 18-month fact discovery begins – over 370 depositions taken and 70 million pages of documents obtained August-September 2003 June 1, 2004 Fact discovery closes November 30, 2005 Lead Plaintiff’s expert reports served January 17, 2006 Class certification hearing March 7-8, 2006 Defendants’ expert reports served March 17, 2006 Rebuttal expert reports served April 13, 2006 V&E summary judgment motion filed April 13, 2006 Opposition to V&E summary judgment filed June 13, 2006 Summary judgment motions filed by Barclays, CSFB, Merrill Lynch, Frevert, Pai June 26, 2006 Order certifying class July 5, 2006 Stayed witnesses, 5th Amendment and Andersen depositions July-August 2006 Motion for reconsideration re Barclay’s dismissal filed August 3, 2006 Oppositions to CSFB’s, Merrill Lynch’s summary judgment motions filed Response to Merrill’s, CSFB’s and V&E’s appeals regarding class certification November 13, 2006 December 29, 2006 Fifth Circuit hearing on class certification appeals February 5, 2007 Opposition to Barclays’s summary judgment motion filed February 8, 2007 Filed Joint Pretrial Order March 16, 2007 Fifth Circuit reverses class certification March 19, 2007 - 10 -
17. Lead Counsel prosecuted the litigation on a wholly contingent basis, advancing and incurring all expenses and, by doing so, shouldered the risk of an unfavorable result over more than six years. Lead Counsel received no fee compensation – only intermittent, and partial, expense reimbursement – for its extraordinary efforts. The intense and massive document review, fact and expert discovery, and pre-trial preparation added significant expenditures to an otherwise costly prosecution, resulting in expenses of more than $40 million, which includes the significant fees and expenses of investigators, document-coding teams and analysts, consultants, and experts whose services Lead Counsel required for the successful prosecution and resolution of this portion of the litigation. Coughlin Stoia professionals have spent over 247,000 hours on this case. The total hours of attorney and other professional time expended by Coughlin Stoia and co-counsel working with us exceed 280,000 hours. Major expenses included the costs associated with a comprehensive investigation; preparation for and participation in depositions; the production, review and analysis of millions of images in document discovery for use in depositions, summary-judgment oppositions, and at trial; the work performed by Lead Counsel’s 12 experts in preparation for their depositions and trial testimony; and pre-trial consultants. 18. As of September 30, 2007, Coughlin Stoia’s lodestar [hours x hourly rates] for lawyers, paralegals and other professionals was over $112 million. When combined with the lodestar of our co-counsel, the lodestar of those dedicated to prosecuting the case for over six years is $127 million. Substantial additional work on, among other things, the Plan of Allocation, has been done since September 30, 2007. Paragraphs 295 and 296 below and Exhibits 1 and 2 hereto set - 11 -
Page 1 and 2: UNITED STATES DISTRICT COURT SOUTHE
Page 3 and 4: 2. The Parties Establish a Document
Page 5 and 6: I, HELEN J. HODGES, declare as foll
Page 7 and 8: • Reviewed over 70 million pages
Page 9 and 10: 6. The above recoveries were based
Page 11 and 12: gathered and which the banks and En
Page 13: 14. In this endeavor, Coughlin Stoi
Page 17 and 18: [T]his representation has been unde
Page 19 and 20: and the necessary involvement with
Page 21 and 22: case. The Court hereby awards attor
Page 23 and 24: published an article, “Enron Jolt
Page 25 and 26: statements. We compiled profiles on
Page 27 and 28: 34. We had no way of knowing whethe
Page 29 and 30: which witnesses to pursue, but cont
Page 31 and 32: the market in October 2001. The ana
Page 33 and 34: said it was unable to determine whe
Page 35 and 36: depositions because discovery was p
Page 37 and 38: 65. After the motion was filed, The
Page 39 and 40: institutional plaintiffs, their rep
Page 41 and 42: drawing on the expertise of our in-
Page 43 and 44: 83. On May 3, 2002, the Preferred P
Page 45 and 46: finance certain of the partnerships
Page 47 and 48: and participated in a scheme to def
Page 49 and 50: (j) Arthur Andersen LLP (Docket No.
Page 51 and 52: Lead Plaintiff had adequately alleg
Page 53 and 54: (a) The Court ruled that Lead Plain
Page 55 and 56: director of New Power, and issuance
Page 57 and 58: 94. On September 26, 2002, Lead Pla
Page 59 and 60: mandamus review, and that the Court
Page 61 and 62: 106. On May 6, 2003, defendant Citi
Page 63 and 64: scheme, and certain specific allega
Page 65 and 66:
pled with the requisite particulari
Page 67 and 68:
Merrill Lynch and Deutsche Bank Ent
Page 69 and 70:
4. Motions to Intervene Additional
Page 71 and 72:
Gramm, Jaedicke, LeMaistre, Meyer,
Page 73 and 74:
professionals and experts, and atte
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121. On May 7, 2003, the Outside Di
Page 77 and 78:
of Enron’s prominence and magnitu
Page 79 and 80:
131. As part of discovery, Lead Cou
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Third Parties and Defendants Date S
Page 83 and 84:
Third Parties and Defendants Date S
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
Page 95 and 96:
privilege. And the defendants agree
Page 97 and 98:
Deponent Entity Date[s] Location No
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
promptly responded to all discovery
Page 107 and 108:
Enron securities, and questions con
Page 109 and 110:
securities, understanding of a repr
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 and 122:
208. A two-day hearing was held reg
Page 123 and 124:
Expert Entity Area of Opinion Dorri
Page 125 and 126:
and is the basis for a presumption
Page 127 and 128:
nature of Enron’s financial condi
Page 129 and 130:
economically valid method and frame
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
Page 137 and 138:
egarding the §11 claims, which wer
Page 139 and 140:
proceeds for our settlement. Thus,
Page 141 and 142:
egarding the policies and he moved
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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
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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
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the Pleadings (Docket No. 5019). On
Page 157 and 158:
joint-and-several liability for kno
Page 159 and 160:
pricing or trade volume data, estim
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
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Name Title Hours Rate Lodestar Meye
Page 172 and 173:
ENRON - SUMMARY OF PLAINTIFFS' FIRM
Page 178:
EXHIBIT 4
Page 182 and 183:
TOP SECURITIES SETTLEMENTS Case Nam
Page 184 and 185:
Exhibit Listings and Notes regardin
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