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Three British bankers who were extradited to the United States will stand trial in 2007 on allegations that they stole from their former employer in connection with an Enron-related transaction.

Copyright, 2007 Nossaman Guthner Knox & Elliott, LLP. Agenda Directors & Officers Liability Insurance Introduction to D&O The D&O Marketplace Current Issues Renewal Processes The General Counsel s Checklist: The Words Matter!

Hardening Factors General health of the economy and (dare we say? exchanges, plus developing American-style litigation overseas (what is F-Cubed?

) the effects of Sarbanes-Oxley Softening Factors 6 Factors to Watch U. Supreme Court decision in Tellabs a uniform standard for pleading scienter (more later) Credit Suisse & Stoneridge: How will two other Supreme Court cases affect you? more later) Stock options backdating Subprime lender lawsuits already mounting 7 Current Issues: The Tellabs Case Question: What must a plaintiff plead under the PSLRA to establish a "strong inference" that the defendant acted with the requisite mental state of scienter?

Gerry Pecht is Global Head of Dispute Resolution and Litigation, the US Co-Head of Regulations, Investigations, Securities and Compliance and the US Head of Energy, Commodities and Derivatives.

Gerry concentrates his practice in the area of complex business and commercial litigation, including securities litigation and enforcement, energy litigation, internal corporate investigations and international litigation and arbitration.

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