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Enron Mail |
Richard,
My wife Marilyn does research for our law firm on a part time basis, and I have had her do a couple of projects on the NSM cases: she worked a lot on the contribution/indemnity memo that I sent you a few weeks ago, and more recently she prepared a memorandum on the law concerning whether a non-lead underwriter can make a separate "reasonable care" showing under our state securities law even where the lead underwriter may not be able successfully to carry its own burden of reasonable care. Marilyn's memorandum on this subject is attached. This memorandum also surveys the cases on who is a "seller" under the state law. These issues, ECT Securities' own reasonable care and ECT's not having sold NSM securities to plaintiffs, will all be key points in our Memorandum of Contentions of Fact and Law now under preparation and, if we get a motion for summary judgment, will form the principal elements of our opposition to the motion. Steve ................................................ ALSCHULER GROSSMAN STEIN & KAHAN LLP ATTORNEYS AT LAW www.agsk.com 2049 Century Park East Thirty-Ninth Floor Los Angeles, CA 90067-3213 Tel 310-277-1226 Fax 310-552-6077 This transmission is intended only for the use of the addressee and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately via e-mail at postmaster@agsk.com or by telephone at 310-277-1226. Thank you. ............................................... - 567858_1.DOC
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