Tuesday, December 7, 2010

Pre-Conference Master Class

9:00 am - 12:30 pm (Registration Opens at 8:30 am)

Negotiating and Managing Complex Settlements: Ethical and Practical Considerations

Richard W. Silbert
Vice President, Associate General Counsel
Purdue Pharma L.P. (Stamford, CT)

Mary Eaton
Partner,
Willkie, Farr & Gallagher LLP (New York, NY)

Mark S. Cheffo
Partner, Skadden, Arps, Slate, Meagher & Flom LLP
(New York, NY)

One of the biggest challenges faced by counsel for pharmaceutical and medical device manufacturers is weighing the potential settlement models that may be appropriate for a particular case and selecting the right one. The proliferation of large scale products liability claims, which often are further complicated by the presence of collateral proceedings, has made it vital to identify potentially problematic settlement terms and select the right model while complying with ethical standards. Attendees of this master class will earn important ethics credits while learning what has worked effectively in settling recent high-profile cases.

Topics will include:

  • Setting a preliminary resolution strategy for multiple claims or cases
  • Assessing what settlement model will work best and determining the precedential impact
  • Arriving at the settlement value and making sure it will stand up to all potential financial obligations
    • determining when to put funds in escrow (and the amount)
  • Complying with the new statutory reporting requirements for settlements
  • Assessing whether there are any conflicts of interest in negotiating the settlement
    • utilizing terms and language that will comply with ethics standards
  • Negotiating the details for payment, releases and opt-out clauses
  • Understanding how a collateral proceeding may complicate your settlement strategies
    • whether resolving one matter will eliminate your defense in another
    • coordinating settlement discussions with counsel in other cases and insurance carriers
  • Particular considerations when negotiating settlements in SEC and shareholder actions
  • Analyzing the inclusion of unique terms in recent high-profile settlements
    • provisions requiring increased corporate transparency
    • settlements mandating creation of new internal positions
    • setting forth payments to plaintiff attorneys
  • Anticipating potential judicial attitudes towards settlement terms
    • concerns of the court in the Guidant case