New York, NY, August 20, 2011 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Pamela S. Palmer, Partner, Latham & Watkins LLP, will speak at the Knowledge Congress’ webcast entitled: “Loss Contingency Disclosure Demystified - Best Practices for Managing Litigation Disclosure, SEC Review and FASB Topic 450”. This event is scheduled for August 29, 2011 from 12:00 - 2:00 PM ET.
For further details, please visit: http://knowledgecongress.org/event_2011_FASB_Topic450.html
Reporting litigation loss contingencies continues to be an evolving, controversial and challenging area for many public companies and their financial executives, auditors, and legal advisors. Starting in 2008, the Financial Accounting Standards Board (FASB) made a series of proposals to amend rules in Topic 450 Statement on Loss Contingency Disclosures, formerly Statement of Financial Accounting Standards No. 5 (FAS 5), in ways that would require publicly traded companies to make more extensive disclosure than historically required. In the wake of hundreds of comment letters on FASB’s latest 2010 iteration of the proposed amendments, FASB deferred further action until December 2011. Meanwhile, however, the SEC has ramped up review and comment on public company reporting of litigation loss contingencies.
The FASB’s proposed changes to Topic 450, coupled with increased SEC scrutiny, has led many companies to re-examine their processes, procedures, and disclosure of litigation loss contingencies in their annual and quarterly filings. Finance executives as well as auditing and legal professionals need to understand this important and evolving landscape. Key issues include changes in how corporate auditors and legal counsel interact, protection of privileged communications, potential impacts on the ABA Treaty, and managing an array of corporate risks and challenges of more detailed litigation loss contingency reporting and disclosure.
The Knowledge Group has assembled a panel of key thought leaders and regulators to help financial and tax executives, auditors, and lawyers understand all the important issues with respect to this evolving topic. This live webcast is a must attend for all corporate financial and tax executives, as well as other accounting, auditing and legal professionals who need to be in the know and prepared to manage the challenges of more extensive loss contingency reporting.
About Pamela S. Palmer
Pamela Palmer is a litigation partner in the Los Angeles and Orange County offices of Latham & Watkins. Ms. Palmer’s practice is devoted to defending companies, officers and directors and audit firms in securities disputes, class actions, derivative suits, business judgment and fiduciary claims, M&A litigation, SEC matters and corporate investigations, and counseling clients regarding privilege, corporate governance, and ethics. Her client representations include many Fortune ranked companies as well as audit firms, and span a wide range of industries, including wireless communications, internet, manufacturing, life sciences, pharmaceutical, technology, information services, real estate, lending and banking.
Ms. Palmer was named as a leading securities litigation attorney in the US Legal 500 Litigation Guide 2007 and as one of the Daily Journal’s top 100 women litigators in California in 2009. She was also named to the list of Southern California “Super Lawyers” by Los Angeles magazine every year since 2005. Ms. Palmer has lectured and published for a variety of organizations, including the American Bar Association, the Center for Professional Education, ALI-ABA, the Association of Corporate Counsel (ACC), Wall Street Lawyer and other conferences. She is the co-author of a treatise, Legal Opinions, “Lawyers Letters to Auditors,” an Aspen publication.
Ms. Palmer is Co-Chair of the Derivative Suits Committee of the American Bar Association’s Class Actions & Derivative Suits Committee and an active member of the Forum for Corporate Directors in Orange County. She serves on Latham & Watkins’ Ethics and Finance Committees. Prior to private practice, she clerked on the Ninth Circuit Court of Appeal.
About Latham & Watkins LLP
Latham & Watkins is one of the world's premier business law firms, with approximately 2,000 attorneys in 31 offices around the world. The firm has internationally recognized practices in a wide spectrum of transactional, litigation, corporate and regulatory areas, advising industry-leading clients on their most important legal issues. From corporate governance issues to intellectual property protection, Latham & Watkins attorneys take innovative and collaborative approaches to finding solutions. Visit www.lw.com for further information.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format.
To contact or register to an event, please visit: www.knowledgecongress.org.