Debt Crisis Hits A Dynasty

Kobre & Kim LLP represents Essex Equity Investments USA LLC, a private investment firm, in a $1.14 billion FINRA arbitration against Lehman Brothers Holdings Inc. involving a dispute over auction rate securities investments. The arbitration was reportedly one of the largest ever filed against a securities broker-dealer.

"Debt Crisis Hits A Dynasty," Wall Street Journal (February 14, 2008)

Amaranth Advisors LLC Market Manipulation Litigation

In one of the most talked-about hedge fund collapses of recent times, Kobre & Kim LLP represents Brian Hunter, the former head of Energy Trading for $9 billion hedge fund Amaranth Advisors LLC, in civil litigation and Commodity Futures Trading Commission ("CFTC") and Federal Energy Regulatory Commission ("FERC") regulatory enforcement actions for alleged market manipulation of natural gas futures.  On behalf of Mr. Hunter, Kobre & Kim LLP also filed the first-ever suit challenging the FERC's ability to regulate futures markets or to file enforcement actions against natural persons.

"Former Amaranth Trader Seeks To Head Off Regulatory Action," The Wall Street Journal (July 24, 2007)

Genuity Credit Facility Litigation

Kobre & Kim LLP represents Deutsche Bank AG in a lawsuit against JPMorgan Chase in the U.S. District Court for the Southern District of New York relating to the collapse of a $2 billion credit facility extended to Genuity Inc., a provider of IP-networking services that declared bankruptcy.

"Verizon's Call Puts Genuity In Default Of Loans," The Boston Herald (July 26, 2002)

Axtel, S.A. de C.V. Litigation

Kobre & Kim LLP represents Telinor Telefonia, S. de R.L. de C.V., a Mexican investment company and the majority shareholder of Axtel, S.A. de C.V., in a contest for corporate control of Axtel, a telecommunications company in Mexico with $350 million in annual revenues. The other major shareholders involved in the contest include The Blackstone Group and LAIF X SPRL, a Belgian entity. The case, which involved two lawsuits in Monterrey, Mexico, an international arbitration in New York, and anti-suit injunction litigation in U.S. courts, is listed by The American Lawyer as among the most noteworthy international disputes in recent years.

"Arbitration Scorecard: Contract Disputes," The American Lawyer: FOCUS Europe (2005)

Parmalat Insolvency Litigation

Kobre & Kim LLP provided expert opinions on U.S. legal issues to the Italian courts in connection with the well-publicized insolvency proceedings of Parmalat SpA in Italy.

"Parmalat In Bankruptcy Protection," BBC News U.K. Edition (December 24, 2003)

Subprime Banking Investigations

Kobre & Kim LLP represents a Managing Director of a Wall Street investment bank in connection with investigations by the Securities & Exchange Commission and the U.S. Attorney's Office for the Eastern District of New York into mortgage-securities valuations and disclosures.

"Pricing Probes On Wall Street Gather Steam," The Wall Street Journal (December 21, 2007)

Airline Price-Fixing Investigation

Kobre & Kim LLP represents a large public company in an industry-wide investigation by U.S. and European regulators into illegal price fixing among the largest names in the air cargo industry.

"US Justice Department Confirms Airline Price-Fixing Investigation," Forbes Magazine (February 14, 2006)

Criminal investigation into Collapsed Hedge Funds at Bear Stearns

Kobre & Kim LLP represents a significant institutional investor in connection with ongoing civil and criminal investigations by the U.S. Attorney's Office for the Eastern District of New York and the Securities & Exchange Commission into the collapse of two hedge funds at Bear Stearns that were invested heavily in subprime mortgages. The Government is investigating whether the managers of the Bear Stearns funds misrepresented the quality of the funds' securities, contributed to improper bond ratings, and, in a possible episode of insider trading, secretly withdrew their own money from the funds ahead of their collapse.

"Prosecutors Begin A Probe Of Bear Funds," The Wall Street Journal (October 4, 2007)

AIG Class and Derivative Action Defense

Kobre & Kim LLP represents a former Senior Vice Chairman of the American International Group, Inc. ("AIG") in several securities class and derivative actions in U.S. District Court, Southern District of New York and Delaware Chancery Court alleging accounting improprieties and improper insurance product marketing practices.

"New AIG Report Raises More Issues With Accounting," The Wall Street Journal (April 26, 2005)

130 Liberty Street Fire Fatality Investigation

Kobre & Kim LLP represented a former executive of Safeway, a construction company, in connection with a criminal negligence investigation by the New York County District Attorney's Office into the fatal Deutsche Bank building fire at 130 Liberty Street, which killed two firemen.

"To Some, Hiring of Top Criminal Lawyer Suggests Worries In Deutsche Bank Case," The New York Times (September 19, 2007)

Monster.com Options Backdating Scandal

Kobre & Kim LLP represented a former top officer of Monster, the parent of job-search Web site Monster.com, in connection with a Securities & Exchange Commission investigation and derivative litigation arising from alleged backdating of employee stock option grants.

"A Monster Case Of Backdating," CFO (January 23, 2008)

United Nations "Oil for Food" Scandal

Kobre & Kim LLP represented Tongsun Park, a well-known international lobbyist, in connection with a federal criminal prosecution of the "Oil-for-Food" scandal in the U.S. District Court for the Southern District of New York.

"Iraq Bribes Alleged At US Oil-For-Food Trial," Reuters (June 27, 2006)

Kobre & Kim LLP Client Prevails in the Largest Tax Fraud Case in U.S. History

Kobre & Kim LLP represents a former partner at KPMG in connection with the highly-publicized U.S. Department of Justice prosecution of alleged fraudulent design and marketing of tax shelter products involving more than $2 billion of disputed tax liabilities. After considering motions filed by Kobre & Kim LLP, the U.S. District Court in Manhattan suppressed statements made by the former KPMG partner, and subsequently dismissed all charges against him.

"Charges Dropped Against 13 In KPMG Tax-Shelter Case," The New York Times (July 17, 2007)

Cablevision Shareholder Derivative Lawsuit

Kobre & Kim LLP represents the former Treasurer of Cablevision, a public high technology company in connection with a shareholder derivative lawsuit in New York relating to alleged option backdating.

"Shareholders Reject Cablevision Deal," DealBook, The New York Times (October 24, 2007)

Cardinal Health Restatement Investigation

Kobre & Kim LLP represented a senior accounting executive Cardinal Health, a large medical products and services company in an investigation by the Securities & Exchange Commission relating to accounting irregularities.

"Cardinal Health Settles Shareholders' Suit," The New York Times (June 1, 2007)

Amerindo Investment Advisors Prosecution

Kobre & Kim LLP represented a former partner of Amerindo Investment Advisors, a hedge fund firm that once had over $1 billion under management, in connection with allegations of embezzlement filed by the U.S. Department of Justice and the Securities & Exchange Commission.

"Founders of Amerindo Are Charged With Fraud," The Wall Street Journal (May 27, 2005)

Computer Associates Accounting Fraud Investigation

Kobre & Kim LLP represents a senior executive at Computer Associates in connection with an investigation by the U.S. Attorney's Office for the Eastern District of New York into alleged accounting fraud and obstruction of justice.

"Accounting Reports Hit Computer Associates," USA Today (February 21, 2002)

United Nations Bribery and Money Laundering Prosecution

Kobre & Kim LLP represents a former senior United Nations official in connection with a prosecution by the U.S. Attorney's Office for the Southern District of New York alleging a conspiracy to commit money laundering.

"US Arrests Russian UN Diplomat," BBC News Int'l Edition (September 3, 2005)

Mutual Fund Trial

Kobre & Kim LLP represented several Bank of America executives in connection with the New York State Attorney General's trial against Theodore Sihpol for alleged late trading and market timing offenses.

"After-Hours Trading Goes on Trial," The Wall Street Journal (May 3, 2005)

Alleged Off-Label Marketing and Kickbacks at Swiss Biotech Giant

Kobre & Kim LLP represents a former executive of Switzerland-based Serono, S.A. in federal investigations of off-label marketing and kickback schemes.

"Serono Sets Aside Big Sum As U.S. Inquiries Continue," The New York Times (April 23, 2005)

Krispy Kreme Accounting Investigations

Kobre & Kim LLP represents a former executive at Krispy Kreme Donuts in connection with the Securities & Exchange Commission's ongoing inquiry into accounting practices relating to franchising activities.

"Krispy Kreme Discloses Additional Federal Inquiry," Washington Post (February 25, 2005)

Tyco International / Dennis Kozlowski Trial

Steven G. Kobre has served as a CNBC commentator and been quoted in The Wall Street Journal and USA Today providing legal insights into trial strategy in the Tyco International/Dennis Kozlowski trial.

The American Lawyer Litigation Rising Stars

Michael S. Kim was featured in The American Lawyer magazine as one of the nation's top litigators on its "Fab 50" list that the magazine expects to be "leading the field for years to come."

Crain's New York Business "Rising Stars"

Michael S. Kim was selected in 2004 by Crain's New York Business newspaper as one of Manhattan's top 40 professionals "doing extraordinary work in their fields."

Mutual Fund "Market Timing" and "Late Trading" Investigation

Kobre & Kim LLP represents several banking executives, chartered financial analysts, and other investment professionals in connection with the well-publicized mutual fund "market timing" and "late trading" investigations.

"Fraud Charges Widen Scope Of Scandal Facing Mutual Funds," The Wall Street Journal (December 15, 2003)

Bosnian Foreign Minister Extradition Proceedings

Kobre & Kim LLP represented Muhammed Sacirbey, a former Bosnian foreign minister and ambassador to the United Nations, in extradition proceedings in the U.S. District Court for the Southern District of New York.

"Former Bosnian Envoy Detained," BBC News (March 25, 2003)

Morgan Crucible PLC International Criminal Antitrust Case

Kobre & Kim LLP represented a former employee of Morgan Crucible PLC, a large British manufacturing company, in an international criminal antitrust case and related MDL class action proceedings in the U.S. District Court for the Eastern District of Pennsylvania.

"Carbon Executives Face Jail In U.S.," Global Competition Review (October 3, 2003)

MCI/WorldCom Accounting Fraud Class Action

Kobre & Kim LLP represented an investment banker in a class action filed in connection with the WorldCom accounting fraud scandal.

"WorldCom's Financial Bomb — From the President On Down, Officials Worried About Investor Confidence Weigh In," CNN Money (June 26, 2003)

New York State Sales Tax Investigation

Kobre & Kim LLP represented multiple employees of art dealerships in connection with the New York County District Attorney's investigation into sales tax violations.

"Payback Time — The Fine Art Of Sales Tax Evasion," The Economist (June 15, 2002)

Lloyd's of London Insurance Litigation

Kobre & Kim LLP represented a former Name of The Society of Lloyd's in an action in federal court brought by the British market of insurance syndicates involving millions of dollars in potential liabilities.

"Trying Times for Risk Takers," The Guardian Unlimited (United Kingdom) (March 18, 2000)

Bristol–Myers Squibb Marketing Practices Investigation

Kobre & Kim LLP represented an executive at Bristol–Myers Squibb in connection with an internal investigation into certain sales and marketing practices of prescription drugs.

"Bristol-Myers Launches Review Into Sales, Marketing Practices," The Wall Street Journal (July 23, 2003)

Symbol Technologies Accounting Fraud Investigation

Kobre & Kim LLP represented a former executive at Symbol Technologies, Inc. in connection with employment and regulatory issues arising from the executive's termination in the wake of a $200 million accounting fraud scheme at the company.

"Accounting Issues Delay Symbol Technologies' Annual Report," Dow Jones Business News (August 29, 2003)

Sterling Foster & Co. Securities Litigation

Steven G. Kobre and Michael S. Kim served as co-lead counsel in the criminal prosecution of 23 brokers from Sterling Foster & Co., a securities broker-dealer. The case involved a two-month federal criminal jury trial, parallel Securities & Exchange Commission civil actions, NASD disciplinary actions, asset forfeiture proceedings, and related MDL class-action litigation. The case reportedly formed the basis for the movie The Boiler Room, released in 2000 by New Line Cinema, starring Ben Affleck and Vin Diesel. (Steven G. Kobre and Michael S. Kim served as lead counsel in criminal and regulatory actions involving more than 100 securities and commodities brokers.)

"Government Widens Sterling Foster Case, Adds 21 Defendants," The Wall Street Journal (February 10, 2000)

Monitor Investments Securities Litigation

Michael S. Kim served as co-lead counsel in a case involving criminal prosecution and parallel Securities & Exchange Commission civil proceedings against 26 brokers from Monitor Investments, a securities broker-dealer, as part of the largest securities fraud case in United States history.

"FBI Swoops Down On Wall Street Mob: Authorities Arrest 120 In Farthest–Reaching Securities Fraud Case Yet," USA Today (June 15, 2000)

$70 Million Asset Forfeiture Proceedings Involving The Castle at Tarrytown

Steven G. Kobre was the co-lead counsel in the criminal prosecution and the lead prosecutor in charge of forfeiture matters in a case involving more than $70 million embezzled by a private banker at a Swiss financial institution, and the use of stolen funds to purchase and improve The Castle at Tarrytown, a hotel located in Westchester County, New York.

"Federal Government Seizes A Castle In Tarrytown," Associated Press (November 6, 2001)

Investors Associates Securities Litigation

Michael S. Kim served as lead counsel in the Grand Jury investigation of 23 brokers from Investors Associates, Inc., a securities broker-dealer. The case also involved parallel Securities & Exchange Commission civil actions and NASD disciplinary actions.

"Feds: LI Brokers Scammed 18M," New York Daily News (March 13, 2001)

Antitrust Division Investigation of Westinghouse Corp. and Infinity Broadcasting Corp. Transaction

Michael S. Kim represented an investment banker who had worked on the Westinghouse-Infinity Broadcasting transaction, valued at $4.9 billion, in connection with an investigation by the Antitrust Division of the U.S. Department of Justice.

"Antitrust Probe Views Station Ties, Radio Mergers," The Wall Street Journal (September 26, 1996)

Asset Forfeiture Proceeding Involving Rare Coin Worth Over $7 Million

Steven G. Kobre was co-lead counsel in a civil asset forfeiture case filed by the United States Government to reacquire title to the famous rare "Double Eagle" coin issued by the United States Mint, eventually auctioned at Sotheby's for approximately $7 million.

"Unique Coin, And Unique Mystery," The New York Times (April 19, 2002)

Insider Trading by Investment Bankers at Wall Street Financial Institutions

Steven G. Kobre prosecuted a case arising from alleged insider trading by an investment banker at a major financial institution relating to an M&A transaction involving BetzDearborn, Inc. and Hercules, Inc.

"Prison Term In Insider Trading Case," The Philadelphia Inquirer (March 27, 2003)

Michael S. Kim was the lead counsel in a case arising out of an alleged insider trading scheme operated by investment bankers at major Wall Street financial institutions relating to several M&A transactions, including those involving the MMI Companies, Inc. and The St. Paul Companies; Associates First Capital Corp. and Citigroup, Inc.; and Travelers Property Casualty Corp. and Citigroup, Inc.

"SEC Files Insider Trading Charges Against Three Tippees Of A Former Salomon Smith Barney Investment Banking Analyst," SEC News Digest (September 27, 2001) (Issue 2001-187)

Steven G. Kobre was co-lead counsel in a criminal prosecution against the Director of Financial Analysis and Planning of Manugistics Group, Inc., a NASDAQ National Market company, for insider trading.

"Former Executive From Manugistics Faces SEC Charges," The Wall Street Journal (July 5, 2002)

$80 Million International Stock Manipulation Scheme

Michael S. Kim was co-lead counsel in a case arising out of an $80 million stock manipulation scheme which involved international civil and criminal asset tracing and forfeiture proceedings of more than $16 million in Canada, the British Virgin Islands, and the United States; state and federal criminal prosecutions in several jurisdictions; Securities & Exchange Commission civil actions; and Canadian regulatory proceedings. The case involved the prosecution of all the partners of Commonwealth Partners LLP, a Manhattan-based investment banking firm; a Chief Executive Officer of a public company; a prominent Canadian broker; and a Certified Public Accountant, among others.

"BCSC Eron Player Graye Amid Landmark Canadian Trial," Canada Stockwatch (February 4, 2002)

Chief Executive Officer Prosecuted for Sarbanes-Oxley Act Violations

Steven G. Kobre was the lead counsel in one of the first criminal prosecutions based upon an alleged violation of the Sarbanes-Oxley Act for inadequate disclosure in Securities & Exchange Commission filings certified by the Chief Executive Officer of a public company.

"House Of Con? — 800America.Com Head Charged With Fraud," Barron's (November 25, 2002)