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referred to Mr. Casey the issues relating to their clients’ purchase of A R S from Lehman

in the hope that a criminal investigation might be launched against Lehman.

30.

On information and belief, in 2008 Mr. Casey’s Unit launched a criminal

investigation into ARS sales at Lehan, including the sale of such securities to

Respondents.

3 1.

On October 2,2008, the Wall Street Journal published “The Auction-Rate

Securities

After-Party:

Lehman

Gets

an

Invite”

(the

“Article”}.

A

copy

of

the

publication is annexed as Exhibit F. The Article asked “Did L e h a n defraud the Maher

brothers?” and reported that “Brooklyn Prosecutors are probing whether Lehrnan put the

securities in the brothers’ and other customers’ accounts despite knowing the market

could collapse.” The Article further reported that the Mahers were cooperating with the

Investigation.

I

32.

Mr. Casey supervised the Investigation. Among other things, thxee Grand

Jury subpoenas were issued under his name requiring Petitioners Gourd, Greenspan and

Haber to appear before a grand jury and give testimony.

Petitioners Learn Mr. Casey Joined K&K And Promptly Raise Concerns About Mr, Casey’s Involvement And K&K’s ContinuedRepresentationOf Respondents In The Arbitration

33.

In or about October 2009, counsel for Petitioners learned that Mr. Casey

had joined K&K. Petitioners’ counsel, of course, had no idea whether Mr. Casey was

worhng on the Arbitration, whether ‘he had shared confidential infomation, whether

K&K was screening him from the Arbitration and, if so, when the screen was

implemented,how it had been implemented and whether it was effective.

9

Supreme Court Records OnLine Library - page 12 of 22

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