Top-flight lawyers conducted a three-week trial entirely online, in the midst of a pandemic and recession, to resolve issues that dated back over a decade to the last recession. Derivatives, CDOs, credit default swaps, and financial guaranties: the facts in Putnam vs. FGIC were incredibly complex. In this episode, Milbank Global Project Energy & Infrastructure Finance partner Allan Marks sorted it out with Putnam’s lead lawyers – Thomas Arena, Sean Murphy and Robert Hora of Milbank’s Litigation & Arbitration group – to learn how they managed one of the country’s first virtual trials in complex commercial litigation in federal court, what it means for future virtual trials, and how they won the case on all counts.
About the speakers:
Thomas Arena represents financial institutions and corporations in federal and state courts in class actions, securities and bankruptcy litigation cases, and has conducted jury and non-jury trials in courts throughout the country. He also has substantial experience representing companies and individuals before the Department of Justice and other regulators, including the Securities and Exchange Commission and the New York Attorney General’s Office.
Sean Murphy’s practice focuses on complex securities matters. He has defended dozens of companies and financial institutions in multi-jurisdictional class action and derivative litigation under state and federal securities laws, including claims under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940. He has extensive experience representing investment advisers and mutual fund boards in litigation and regulatory investigations involving management fees, revenue sharing, conflicts of interest, prospectus disclosure, distribution and trading, ERISA prohibited transactions, portfolio mismanagement, Rule 12b-1, board oversight and fiduciary duty litigation. He represents clients in regulatory and enforcement proceedings before the SEC, CFTC, FINRA and state regulators.
Robert Hora focuses on litigation of complex commercial matters involving mutual funds, securities, commodities, and corporate governance. In recent years, Robert has successfully tried and defended some of the most significant cases in the mutual fund industry, involving close to $1 billion in alleged damages and resulting in precedent-setting deci
For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.
Disclaimer