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Expert Witness 2018


Speaker(s): Allison J. Cambria, Daniel L. Berger, Faten Sabry, Sarah Coyne, Shari A. Brandt, Stacey Anne Mahoney, Susan E. Brune, Winston M. Paes, Yesim C. Richardson
Recorded on: Jun. 12, 2018
PLI Program #: 220555

Allison J. Cambria is Vice President and Senior Counsel in Deutsche Bank’s Litigation and Regulatory Enforcement Group.  In this role, Allison handles a broad range of litigation disputes and regulatory matters. Allison has been at the Bank since June 2013.  Prior to joining Deutsche Bank, Allison was an associate with the law firm Sullivan & Cromwell LLP in New York, focusing her practice on securities litigations and complex commercial disputes. 


Daniel L. Berger is a director at Grant & Eisenhofer. Prior to joining the firm, Mr. Berger was a partner at two major plaintiffs’ class action firms in New York, including Bernstein Litowitz Berger & Grossmann (BLBG), where he had litigated complex securities and discrimination class actions for twenty two years.

Mr. Berger’s experience includes trying three 10b-5 securities class actions to jury verdicts, which are among very few such cases ever tried. He also served as principal lead counsel in many of the largest securities litigation cases in history, achieving successful recoveries for classes of investors in cases including In re JPMorgan Chase & Co. Securities Litigation ($150 million);  In re Merck Vytorin/Zetia Securities Litigation ($215 million); In re Cendant Corp. Securities Litigation ($3.3 billion); In re Lucent Technologies, Inc. Securities Litigation ($675 million); In re Bristol-Myers Squibb Securities Litigation ($300 million); In re Daimler Chrysler A.G. Securities Litigation ($300 million); In re Conseco, Inc. Securities Litigation ($120 million); In re Symbol Technologies Securities Litigation ($139 million); and In re OM Group Securities Litigation ($92 million).

Mr. Berger has successfully argued several appeals that made new law favorable to investors, including In re Suprema Specialties, Inc. Securities Litigation, 438 F.3d 256 (3d Cir. 2005); McCall v. Scott, 250 F.3d 997 (6th Cir. 2001) and Fine v. American Solar King Corp., 919 F.2d 290 (5th Cir. 1990.) In addition, Mr. Berger was lead class counsel in many important discrimination class actions, in particular Roberts v. Texaco, Inc., where he represented African-American employees of Texaco and achieved the then largest settlement ($175 million) of a race discrimination class action.

Mr. Berger currently is a member of the faculty of Columbia University School of Law, where he is a Lecturer in Law.  He also serves on the Board of visitors of the Law School. Previously, Mr. Berger was a member of the Board of Managers of Haverford College from 2000-2003.  He also now serves as the Co-Chair of the Board of GO Project, a not-for profit organization that provides academic support for New York City public school students, and also serves as a Member of the Board of Grace Church School in New York.  He also served on the Board of in Motion, Inc., a non-profit organization providing legal services to victims of domestic violence, for six years.

Mr. Berger is a 1976 graduate from Haverford College, and graduated in 1979 from Columbia University School of Law.

 

Education:

  • Columbia University Law School, J.D. (1979)
  • Haverford College, B.A., (1976)

 

Admissions:

New York, U.S. Court of Appeals for the 1st Circuit, U.S. Court of Appeals for the 2nd Circuit, U.S. Court of Appeals for the 3rd Circuit, U.S. Court of Appeals for the 6th Circuit, U.S. Court of Appeals for the 7th Circuit, U.S. Court of Appeals for the 9th Circuit, U.S. District Court for the Southern District of NY, U.S. District Court for the Eastern District of NY


Sarah Coyne is a partner in Weil’s Litigation Department and a member of the Firm’s global White Collar Defense, Regulatory and Investigations practice. She handles a wide range of civil and criminal white collar matters, as well as internal investigations, and has experience across industry sectors, with an emphasis on financial institutions.

Ms. Coyne is a former Assistant U.S. Attorney in the Eastern District of New York, where she was Chief of the Business and Securities Fraud Section. In 2018, she was featured by Global Investigations Review as one of the top 100 “Women in Investigations” worldwide. Since 2017, Ms. Coyne has been recognized nationally by Legal 500 for Corporate Investigations and White Collar Criminal Defense, including as a “Next Generation” lawyer, and she is currently recognized as a “Future Star” by Benchmark Litigation.

Prior to joining Weil, Ms. Coyne was a federal prosecutor for 14 years, first in the District of New Jersey, then moving to the U.S. Attorney’s Office in the Eastern District of New York, where she worked for 11 years. In these roles, Ms. Coyne prosecuted or supervised a number of high-profile matters, including those involving the Foreign Corrupt Practices Act, securities and investment fraud, and off-label promotion in the healthcare space. She also tried 14 jury trials and argued seven successful appeals before the Second Circuit, and one before the Third Circuit. As Chief of the Business and Securities Fraud Section, Ms. Coyne supervised 15 prosecutors working on white collar criminal matters.

Recent notable experience includes representing:

  • US Ski & Snowboard sports association in connection with various congressional inquiries.
  • a major financial institution in connection with investigations by the U.S. Attorney’s Office for the Southern District of New York and the SEC into a purported theft by a former employee of millions of dollars from client accounts.
  • a senior banker at a financial institution in connection with an SEC investigation into failed Puerto Rico municipal government bonds.
  • a New York police union in connection with an investigation by the U.S. Attorney’s Office for the Eastern District of New York into alleged corruption in a county police force.
  • a global payment provider with respect to a U.S. Attorney’s Office investigation into allegations of overbilling and a related class action filed in the Eastern District of New York, as well as an internal investigation regarding alleged fraud by an employee accused of embezzlement.
  • an executive at a life sciences laboratory in connection with an investigation by the Civil Division of the U.S. Attorney’s Office for the Southern District of New York into allegations of improper Medicare billing.
  • a former executive at a life sciences laboratory in connection with an investigation by the Civil Division of the U.S. Attorney’s Office for the Eastern District of New York into allegations of improper Medicare billing.
  • a global investment management firm with respect to an investigation brought by the U.S. Attorney’s Office for the District of New Jersey in connection with allegations of insider trading.
  • a former hedge fund founder with respect to an investigation by the U.S Attorney’s Office for the Eastern District of New York for securities fraud.
  • a foreign individual in connection with the investigation by the U.S. Attorney’s Office for the Eastern District of New York into the FIFA corruption scandal.
  • §numerous executives of financial institutions in securities fraud investigations.

Ms. Coyne is a frequent speaker on white collar and related topics such as the FCPA, and currently serves as a Lecturer of Law at the University of Pennsylvania School of Law, where she teaches a course on white collar crime.

Upon graduating from law school, Ms. Coyne clerked for two years for the Hon. Maryanne Trump Barry, both at the District Court level and at the United States Court of Appeals for the Third Circuit. She earned her J.D. in 1998 from New York University School of Law, and received her B.A. from Georgetown University, magna cum laude and Phi Beta Kappa, in 1993.


Stacey Anne Mahoney’s practice includes all aspects of antitrust law. In her antitrust litigation practice, she represents clients as plaintiffs and defendants in federal and state courts throughout the US, in cases involving restraints of trade, monopolization, tying, exclusive dealing, price discrimination, false advertising, unfair competition, and related business torts. In her merger practice, Stacey develops and implements domestic and international merger advocacy strategies, including trial as needed. Stacey’s counseling practice includes advising on distribution and pricing issues, as well as joint ventures and other competitor collaborations.

Stacey regularly represents clients before the DOJ, FTC and states’ attorneys general in civil and criminal antitrust matters, as well as regarding consumer protection and privacy issues. She develops and implements antitrust compliance programs for domestic and international clients. She has worked extensively in pharmaceuticals and healthcare, payment systems, financial services, advertising and marketing, retail, and publishing.

Stacey is consistently ranked among the top antitrust lawyers in New York by Chambers USA and Super Lawyers, The Legal 500, and Global Competition Review. Chambers USA recognizes her “excellent antitrust litigation practice” and describes her as “very smart and very responsive,” “very perceptive and very knowledgeable,” offering a “highly pragmatic approach to matters.” Super Lawyers, which included her as one of the Top 50 Women Lawyers in New York in 2017, reports that she is a “fearless and innovative litigator, able to adjust to any type of antitrust case,” “with an outstanding ability to think strategically” with “the knowledge and litigation skills to match the most senior antitrust litigators.”

Stacey regularly writes and speaks on antitrust issues in the US and abroad. She is a Fellow of the Litigation Counsel of America, and has been the Chair of the Antitrust and Trade Regulation Committee of the New York City Bar Association since 2015.

Stacey clerked for Judge K. Michael Moore, now Chief Judge, in the U.S. District Court for the Southern District of Florida from 1994 to 1996.


Susan E. Brune has been consistently recognized for excellence in the practice of law.  Susan focuses her practice on white collar matters, helping individuals and entities through investigations involving the U.S. Department of Justice, the SEC, FINRA and other criminal and regulatory bodies.

Susan has repeatedly warded off indictment and regulatory charges through sound strategic choices, meticulous preparation and forceful advocacy. When cases are brought, she is equally effective. A seasoned trial lawyer, she obtained the acquittal of a Bear Stearns hedge fund manager in a federal jury trial.

In 2010, the New York State Association of Criminal Defense Lawyers conferred upon her the Hon. Thurgood S. Marshall Award for Outstanding Criminal Practitioner, an award conferred annually on one practitioner in New York.

After leaving the U.S. Attorney’s Office and before founding Brune Law P.C., Susan founded and for 18 years led Brune & Richard LLP, a firm that The New York Times described as “a top-flight New York litigation boutique.”

Susan is a graduate of Harvard Law School.


Winston M. Paes is a member of the White Collar & Regulatory Defense Group. His practice focuses on white collar criminal defense, regulatory enforcement and internal investigations.  In this capacity, Mr. Paes has represented large financial institutions, corporate executives and traders in investigations by the Department of Justice and Securities and Exchange Commission.

Prior to joining Debevoise in 2017, Mr. Paes served for nine years as an Assistant U.S. Attorney in the Eastern District of New York, the final two years of which he spent as Chief of the Business and Securities Fraud Section.  As Section Chief, Mr. Paes supervised a team of 20 experienced federal prosecutors focused on white collar matters. Under his leadership, the EDNY significantly expanded its white collar practice and prosecuted a number of the Department of Justice’s most high-profile matters. Before his appointment as a Section Chief, Mr. Paes also served as the Deputy Chief of the Business and Securities Fraud Section and Supervisor of its Medicare Fraud Task Force.  During his tenure as a federal prosecutor, he successfully tried 10 jury trials, including six white collar trials, and argued 12 appeals before the U.S. Court of Appeals for the Second Circuit. He is also a recipient of the Department of Justice Director’s Award for Superior Performance and the Inspectors General Council’s Excellence in Litigation Award.

Mr. Paes earned his J.D. magna cum laude from Brooklyn Law School in 2003, and received his B.A. magna cum laude from the State University of New York, Stony Brook in 1998.


Yesim C. Richardson heads the firm’s financial institutions practice. She specializes in applying economic and financial analysis to complex litigation involving securities, financial institutions, valuation, and real estate. Dr. Richardson has worked with clients in a variety of financial sectors as well as other industries, such as energy, telecommunications, high technology, and pharmaceuticals.

Dr. Richardson has addressed numerous issues involving financial institutions:

  • Examined trading behavior and alleged market manipulation
  • Analyzed the relationship between economic developments, regulatory environment, and company performance, as well as the foreseeability of economic developments
  • Evaluated due diligence responsibilities and the security issuance process for public offerings and private placements
  • Determined the impact of “but-for” financial restatements on debt ratings, borrowing costs, and security issuance
  • Estimated damages to investors from the alleged nondisclosure of practices with respect to investments in mortgage-backed and other subprime-related securities, rebalancing of client portfolios, leveraged and inverse exchange-traded funds, rebalancing of client portfolios, mutual fund market timing, and bid rigging
  • Investigated fund investment strategies, portfolio performance and fees, as well as shareholder investment and redemption behavior

Dr. Richardson has addressed market efficiency, loss causation, liability, and damages in Section 10b-5, Section 11, and ERISA cases. Her analysis has involved equity, debt, and derivative instruments; allegations of accounting misstatements, fraudulent earnings guidance, fraudulent business practices, and options backdating; and companies with multiple business segments and/or international operations, including those with securities traded on multiple exchanges.

Dr. Richardson has conducted valuation analyses of hedge funds, high-technology companies (including start-up ventures), international companies, and real estate ventures in a range of contexts, including breach of contract, mergers and acquisitions, initial public offerings, technology licensing, and employee compensation.

Dr. Richardson has analyzed complex securitized real estate instruments, such as mortgage-backed securities and collateralized debt obligations; assessed the financial and economic effects of changes in real estate markets; evaluated the financing options available to a real estate partnership for developing a shopping center; and analyzed the duties and actions of general and limited partners under real estate partnership agreements.

Prior to joining Cornerstone Research, Dr. Richardson taught economics at Boston University and at Bilkent University in Turkey.


Shari A. Brandt is a partner with more than 20 years of experience representing institutions and individuals in high stakes commercial civil litigation, regulatory and white collar criminal proceedings, and internal investigations, often in matters involving financial services and complex financial products. Clients have described her as: having “deep knowledge of the subject matter, sound judgment, [and] great instincts,” “very client service oriented,” “extremely smart, experienced, hardworking and thorough,” and someone who “works incredibly hard to ensure that all bases are covered” (Legal 500 2010-2018).

Ms. Brandt regularly defends matters that proceed simultaneously in regulatory, white collar defense and civil litigation forums. She represents clients in civil litigations at the federal and state level, arbitrations and mediations, as well as defending against investigations by the CFTC, SEC, FINRA, United States Attorney’s Office, Department of Justice, State Attorney’s General offices and other governmental and self-regulatory bodies.

Recent Engagements:

  • Lead attorney for brokerage firm in connection with class action litigation concerning the setting of the U.S. Dollar Isdafix benchmark rate.
  • Defending a brokerage firm in connection with domestic and international regulatory inquiries into the setting of LIBOR and other benchmark rates, and related class action antitrust litigation.
  • Defending group of individuals in regulatory inquiries and civil litigation concerning residential mortgage-backed securities.
  • Defending an insurer in litigation across the country and regulatory inquiries concerning municipal bond offerings and auction rate securities.
  • Conducting an internal investigation for a bank into anonymous allegations of kickbacks and bribery.
  • Defending a brokerage firm in connection with regulatory inquiries into anti-competitive conduct concerning credit default swaps.

Honors & Awards

  • Ranked by Chambers USA as a Recognized Practitioner in Litigation: White Collar Crime & Government Investigations.
  • Selected by Benchmark Litigation as a Top Woman in Litigation and Local Litigation Star.
  • Named to the Global Investigations Review Top 100 Women in Investigations list.
  • Recommended by The Legal 500 United States in the areas of litigation, white collar criminal defense and regulatory law.


Dr. Sabry is a Managing Director in the Securities and Finance Practice at NERA and leads the Bankruptcy and Financial Distress Practice. She has performed analyses involving the valuation of fixed income securities, derivatives, illiquid assets, businesses and litigation settlements. She has also assessed risk management models and examined the prudence of investments including hedging strategies. Dr. Sabry has testified as an expert on causation, damages, valuation and class certification in State and Federal Courts as well as at arbitration proceedings.

Examples of her assignments include: Affidavit, In the United States Bankruptcy Court for the District of Delaware, In re: AgFeed USA, LLC, et al. (Debtors) on the structure of the proposed settlement allocation; Deposition Testimony and Report, In the United States Bankruptcy Court for the Middle District of Florida – Orlando Division, In re: Sherwood Investments Overseas Limited, Inc. (Debtor) v. The Royal Bank of Scotland N.V. on alleged causation and damages with regard to investments in certain equity derivative products; Trial Testimony, In the Supreme Court of the State of New York, County of New York in IDX Capital, LLC, et al. v. Phoenix Partners Group LLC, et al. on the fair market value of a CDS inter-dealer broker firm; and Declaration, In the United Stated Bankruptcy Court for the Southern District of New York in the Official Committee of Unsecured Creditors v. Citibank, et al., Re Lyondell Chemical Companies, et al. on analysis of the capital market reactions including credit default swaps to the LBO and the forseeability of bankruptcy during the credit crisis.

Dr. Sabry received her Ph.D. in Business from Stanford Business School and was awarded the J.M. Olin Graduate Fellowship, the Graduate School of Business Fellowship, and a Ford Foundation Fellowship. She received her BA, magna cum laude, and her MA in economics from the American University in Cairo.

She is the author of various articles on the economics of subprime lending, the credit crisis, the impact of securitization on the cost of credit and liquidity, econometric analysis of mutual funds’ advisory fees, claiming behavior, and determinants of anti-dumping protection. Dr. Sabry recently co-authored “Mortgage Defaults, Foreclosures and Modifications,” which was published in the Handbook of Mortgage-Backed Securities, 7th Edition, (Frank J. Fabozzi, ed., Oxford University Press, 2016).  Her research has also been published in the Journal of Structured Finance, Journal of Investment Compliance, Journal of Alternative Investments, Business Economics, International Trade Journal, and others. Dr. Sabry is the lead author of an econometric study on the impact of securitization before and after the credit crisis for the American Securitization Forum. She is a member of the American Finance Association, the American Statistics Association and the American Bankruptcy Institute. She has been accredited as a professional statistician by the American Statistics Association.