New York, NY, August 12, 2015 --(PR.com
)-- Wilson Elser Partner Michael P. McCloskey, to Speak at KC’s Fraud-on-the-Market Theory: Presumption and Other Significant Issues and Updates in 2016 and Beyond LIVE Webcast.
The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Michael P. McCloskey, Partner, Wilson Elser will speak at the Knowledge Congress’ webcast entitled: “Fraud-on-the-Market Theory: Presumption and Other Significant Issues and Updates in 2016 and Beyond LIVE Webcast.” This event is scheduled for December 16, 2015 from 12:00pm – 2:00pm (ET).
More information and registration is here:
About Michael P. McCloskey
Michael McCloskey is a distinguished business trial lawyer recognized for his success in handling complex commercial matters involving federal securities fraud, state and federal derivative actions, and anticompetitive business practice claims. As a member of Wilson Elser's Securities and Commercial Litigation practices, he defends corporations as well as their officers and directors before the SEC and in shareholder litigation. He also defends clients in antitrust matters, trade secret and non-compete litigation, consumer class actions, and business dissolutions or other disputes among business partners.
In an effort to reduce litigation risk, McCloskey advises his clients on corporate governance measures and best business practices. Among his clients are the boards of directors and audit committees of consumer product companies, computer manufacturers, high tech communications companies, biotech and pharmaceutical companies, and household manufacturing companies.
McCloskey has taught Securities Regulation as an adjunct professor of law at the University of San Diego. He is also certified as an instructor by the National Institute of Trial Advocacy and frequently lectures on current securities litigation issues and corporate matters.
McCloskey retired as a Colonel in the Marine Corps Reserves after 30 years of service. Before his civilian practice, he spent six years prosecuting criminal cases and defending the Department of the Navy and the Secretary of the Navy in federal district courts and circuit courts of appeal.
In June 2014 the US Supreme Court in Halliburton Co. v. Erica P. John Fund, Inc., Halliburton called into question, but upheld, the foundation of a securities class action — the presumption of class-wide reliance — which makes it easier for plaintiffs in securities fraud class actions to prove reliance and obtain class certification. The Court’s decision may give defendants new opportunities to rebut the presumption in the earlier stages of a case; which benefits defendants.
The Court confirmed Basic’s premise that market prices will adjust to newly disclosed information, and that Halliburton challenges were not sufficiently compelling to overturn presumption. A decision overruling Basic and the 'fraud-on-the-market' presumption would have undermined pursuit of securities fraud cases on a class action basis.
This decision will heighten the importance of the class certification in potential securities fraud class actions. Defendants will be able to introduce expert testimony to show that alleged misstatements did not affect stock prices. Plaintiffs may choose to present contrary expert testimony which will result in increased focus on Daubert motions challenging the admissibility of expert testimony.
In a two-hour LIVE Webcast, a panel of thought leaders and practitioners assembled by The Knowledge Group will discuss the significant and latest issues relating to Fraud-on-the-Market Theory: Presumption and Other Significant Issues and Updates in 2016 and Beyond. The panel also will help the audience better understand the best practices to challenge and defend cases.
Key topics include:
• Fraud-on-the-Market Theory – An Overview
• Basic, Inc. v. Levinson Supreme Court Review
• Halliburton Co. v. Erica P. John Fund, Inc. - Presumption
• Challenges for Fraud-on-the-Market Theory
• Scope and Limitations of Fraud-on-the-Market Theory
• Reaffirming Presumed Reliance Doctrine
• Tool for Defendants to Contest Clarification
• Implications of Arising Litigation
• Mitigating Risks and Threats
About Wilson Elser Moskowitz Edelman & Dicker LLP
Wilson Elser, a full-service and leading defense litigation law firm (www.wilsonelser.com), serves its clients with nearly 800 attorneys in 27 offices in the United States and one in London and through a network of affiliates in key regions globally. Founded in 1978, it ranks among the top 200 law firms identified by The American Lawyer and is included in the top 50 of The National Law Journal's survey of the nation’s largest law firms. Wilson Elser serves a growing, loyal base of clients with innovative thinking and an in-depth understanding of their respective businesses.
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: http://theknowledgegroup.org/