1. Enron released the initial news of accounting irregularities on October 16, 2001. When did the government (Dept. of Justice/SEC) take its initial action against Enron personnel?

2. When did Milberg Weiss file its initial complaint relating to the Enron private action? Where was it filed? Was it the first complaint filed? See § 1:2.

3. Roughly how many complaints were filed in the Enron private action relating to securities fraud?

4. Who where the plaintiffs in the initial complaint filed by Milberg Weiss? Speculation, but where did the named plaintiffs in the initial complaint come from?

6. In addition to being retained by a member of the putative class, what must counsel obtain from a prospective plaintiff in order to file a complaint? What is its content, what form must it take, what must be done with it? Can the defendant attack its adequacy? See § 2.05[2], §2.05[3].

7. Walk us through the Milberg Weiss procedure for signing up prospective plaintiffs on the Internet..

8. What was the initial plaintiff to file a complaint required to do? What is its content? Where is it “posted”? Can defendant attack its adequacy? See § 2.05[1].

9. Does the fact a complaint has been filed by someone else, preclude other prospective plaintiffs from giving notice that they have filed an action? See Section 21D(a)(3)(A)(i)(II)

10. Within what time frame must motions to be named lead plaintiff be filed? Who can file such motion? Is it necessary that they also have filed a complaint? Applicable Law

11. Is it necessary to include a plaintiff’s certification with the motion to be named lead plaintiff, if the moving party did not file a complaint? See § 2.05[2].

12. On behalf of whom, did Milberg Weiss initially  file a motion to be named lead plaintiff and in what respect was the motion amended? See § 1:3.

13. Who is the presumptive most adequate plaintiff under the PSLRA? Does it literally preclude or permit a group to seek to be named lead plaintiff? What is the view in this respect in the Southern District of Texas? Applicable Law Is that consistent with the SEC view. See § 2.08. In what respects did it determine the strategy followed by the various contenders in Enron.

14. On what ground(s) may the presumption be rebutted? Who can attempt to rebut the presumption? See § 2.05[3]  Applicable Law

15. The Florida State Board of Administration (FSBA) has been named as lead plaintiff in at least 7 cases. FSBA was one of the at least 17 applicants for lead plaintiff in the pending Enron action, claiming a loss of over $300 million. See WSJ article. Other than embarassment over managing its portfolio so badly, what problems did this pose for  FSBA seeking to be named lead plaintiff in Enron? See § 2.05[2]. Court's Decision

16. As noted at the Factual Basis for the hypotheticals, Milberg Weiss in the Enron matter initially filed a complaint naming an individual as plaintiff, but subsequently filed a complaint in the same matter naming Amalgamated Bank as trustee for certain Funds as plaintiff. How did this improve its chances of being named as lead plaintiff? Note who joined Amalgamated Bank in seeking to be lead plaintiff and who is supporting their motion. See WSJ article. Has the PSLRA succeeded in diminishing the role of entrepreneurial lawyers by attracting institutional investors as lead plaintiffs, or has it made them allies? See sequel to Calpers Role How did Milberg Weiss change its strategy in the Enron litigation and why?

17. The PSLRA requires that if several plaintiffs file complaints in a related matter and one of them moves that the case be consolidated the court must rule on the motion to consolidate before ruling on the motion(s) to be named lead plaintiff. that the court must enter a consolidation order before ruling on the motion to name a lead plaintiff. See Section 21D(a)(3)(B)(ii). We are not going to pursue consolidation issues other than to note that granting the motion to consolidate somewhat disparate cases (purchasers of preferred stock etc.) ruled on the chance of several of the niche plaintiffs to be named as a lead plaintiff.

18. In the Enron litigation who was selected as lead plaintiff. On what basis was it selected over the other contenders? Remaining Applicants, Court's Decision

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