Laura Joy Edelstein's Legal Cases (4)

Energy and utilities

In re Electric Refund Cases

N/A

OUTCOME: Ongoing

We represent a major gas and electric utility in a breach of contract action that the utility filed in Los Angeles Superior Court against 18 municipal and governmental entities seeking to recover milli ... ons of dollars in overpayments for electricity during the 2000-2001 California energy crisis. The case centers on the operation of two centralized auction electricity markets that had been created as part of the restructuring of California’s electricity markets in the 1990s, the federal tariffs governing the markets’ operation, and long-running proceedings at the Federal Energy Regulatory Commission and in the federal appellate courts.

Securities and investment fraud

United States v. Ralph Cioffi and Matthew Tannin

N/A

OUTCOME: Acquittal for client

We successfully defended a hedge fund manager at a federal criminal trial in the U.S. District Court for the Eastern District of New York, the highest profile case to emerge from the financial crisis. ... The prosecution followed the collapse of two Bear Stearns hedge funds invested in mortgage-backed CDOs and included allegations of securities fraud, wire fraud, and conspiracy. After a month-long trial, the jury acquitted our client of all counts.

Securities and investment fraud

Securities and Exchange Commission v. Ralph Cioffi and Matthew Tannin

N/A

OUTCOME: Obtained favorable settlement for client.

We defended our client in a civil action brought by the SEC alleging securities fraud following the collapse of two Bear Stearns hedge funds invested in mortgage-backed CDOs. After we moved for summar ... y judgment and to exclude the SEC’s expert, we were able to negotiate an extremely favorable settlement for our client that was subsequently approved by the trial judg

Securities and investment fraud

Securities and Exchange Commission v. Kim Daifotis and Randall Merk

N/A

OUTCOME: Obtained favorable settlement for client.

We represented a high-level mutual fund executive in an SEC enforcement action in the U.S. District Court for the Northern District of California arising out of the recent financial crisis. The case in ... volved a bond fund and its investments in mortgage-backed securities. After a series of motions that succeeded in narrowing the SEC’s allegations and charges, we were able to secure a settlement of the matter.

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