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

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Crafting the stipulation of settlement was time-consuming because, once again, we were breaking new ground in the settlement of a PSLRA case. As with all the prior settlements, the funds quickly started earning interest for the benefit of the class. Andersen’s settlement funds began earning interest on December 13, 2005. XIII. MOTIONS AT THE CLOSE OF DISCOVERY AS THE LAW SHIFTS – DURA AND LOSS CAUSATION 256. On June 3, 2005, Citigroup filed a motion for partial judgment on the pleadings (Docket Nos. 3563, 3564), which argued that the FACC failed to adequately allege loss causation in conformity with Dura, 544 U.S. 336, and scienter in conformity with Southland Sec. Corp. v. INSpire Ins. Solutions, Inc., 365 F.3d 353 (5th Cir. 2004). On June 7, 2005, JPMorgan also filed a motion for partial judgment on the pleadings (Docket No. 3573), which made the same arguments regarding JPMorgan. The Court ruled the motions moot, because the parties had requested Court approval of a settlement. See 6/22/05 Order re Mooting Citigroup and JPMorgan Motions (Docket No. 3642) at 1-2. 257. On June 16, 2005, defendant Barclays filed a motion for partial judgment on the pleadings (Docket No. 3615), which sought judgment on Lead Plaintiff’s claims under §§10(b) and 20(a) for failure to plead loss causation in conformity with Dura, 544 U.S. 336. On July 6, 2005, Lead Counsel filed Lead Plaintiff’s Opposition to Defendant Barclays PLC, Barclays Bank PLC and Barclays Capital Inc.’s Motion for Partial Judgment on the Pleadings (Docket No. 3682), which argued that Lead Plaintiff had adequately pled loss causation concerning Barclays. On August 2, 2005, Lead Counsel filed Lead Plaintiff’s Motion to File Sur-Reply and Sur-Reply in Opposition to Barclays’ Motion for Partial Judgment on the Pleadings (Docket No. 3751), to address argument raised in Barclays’ reply. The Court, in ruling on the motion addressed not only loss causation, but the issue of whether the FACC stated a primary violation of the securities laws against Barclays. See 7/20/06 Opinion and Order re Barclays Judgment on the Pleadings (Docket No. 4874) at 42. The - 140 -
Court ruled that Lead Plaintiff failed to state a claim for a primary violation against Barclays, and accordingly granted the motion. Id. at 63, 66. 258. On July 27, 2005, Merrill Lynch filed a motion for judgment on the pleadings (Docket No. 3734), which argued for judgment because the FACC failed to plead loss causation and scienter. On August 16, 2005, Lead Plaintiff filed Lead Plaintiff’s Opposition to Merrill Lynch’s Motion for Judgment on the Pleadings (Docket No. 3820), which argued that Merrill Lynch was liable because it made false and misleading statements with scienter; Merrill Lynch faced joint and several liability; and Lead Plaintiff adequately alleged loss causation as to Merrill Lynch. In further support of its motion, on July 21, 2006, Merrill Lynch filed supplemental authority (Docket No. 4887), viz., the Court’s recent decision dismissing Barclays; on August 1, 2006, a supplemental memorandum concerning loss causation; and on August 3, 2006 a notice of supplemental authority (Docket No. 4911) concerning the decision filed on August 1, 2006 by the United States Court of Appeals for the Fifth Circuit in United States v. Brown, which reversed certain convictions of former Merrill Lynch employees based on Merrill Lynch’s participation in the barge transaction. In response, on August 23, 2006, Lead Counsel filed Lead Plaintiff’s Response to Merrill Lynch’s Supplemental Memoranda Filed in Support of Motion for Judgment on the Pleadings (Docket No. 4976), totaling 126 pages, which argued that Merrill Lynch committed acts of deception and manipulation; criminal and regulatory proceedings against Merrill Lynch and its executives provided evidence of deceptive and manipulative conduct; and Lead Plaintiff’s loss causation allegations continued to be sufficient as to Merrill Lynch. For the same reason the Court granted Lead Plaintiff’s Motion for Reconsideration, or in the Alternative, Clarification of Order Granting Barclays’ PLC Motion for Summary Judgment on the Pleadings, the Court mooted Merrill Lynch’s motion for judgment on the pleadings. See 12/4/06 Opinion and Order (Docket No. 5242) at 11-12. - 141 -
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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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Gramm, Jaedicke, LeMaistre, Meyer,
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professionals and experts, and atte
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121. On May 7, 2003, the Outside Di
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of Enron’s prominence and magnitu
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131. As part of discovery, Lead Cou
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Third Parties and Defendants Date S
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Third Parties and Defendants Date S
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133. Document requests and subpoena
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139. In responding to the document
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146. In addition to JPMorgan’s in
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10. Requests for Admission 152. In
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Page 115 and 116: 195. On April 13, 2004, defendants
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Page 121 and 122: 208. A two-day hearing was held reg
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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 143: team; for example, we reviewed info
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
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Page 161 and 162: y the court and cited in In re Cend
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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
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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Declaration Of Helen J. Hodges In Support Of Lead Counsel's ...

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