The Great Debate on Short-Selling and Activism

Presenters:

Michele Johnson Latham & Watkins, Partner

Carson Block Muddy Waters Capital, Founder and Chief Investment Officer

Program Level: Intermediate

Duration: 30 Minutes

Recorded On: June 16, 2020

Program Description

A securities and M&A litigator at Latham & Watkins and the Founder and Chief Investment Officer of Muddy Waters Capital engage in a lively debate over the merits of, and risks associated with, short-selling a company’s stock for the purpose of uncovering fraud or fraud-like behavior, in light of existing legal and accounting systems and practices.

The panelists first debate the merit of a public company utilizing attorneys and the attorney-client privilege to preclude its shareholders or potential shareholders from gaining access to information concerning an internal investigation into alleged fraud. They next debate whether short-sellers are or should be held accountable when, as a result of their short-selling activities, a lawsuit or investigation ensues but no fraud is found to exist. Finally, the debate addresses the role of attorneys in advising companies and their auditors as to the use of an accounting standard that may be legal but, from the standpoint of a shareholder, arguably is detrimental to the value and health of the company at issue.

CLE Info

This program is currently available for 0.5 general credits in the following states:

Alabama
Alaska
Arizona
California
Connecticut
Hawaii*
Illinois
Minnesota
Mississippi
New York
Nevada
New York
North Carolina
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Washington
West Virginia
Wisconsin

In addition, we have applied for credit in the following states, and will promptly update the list above as the program is approved in each such state:

IndianaOhioOregon

Note that while our 1+ hour programs are typically approved in Arkansas, Colorado, Georgia, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico and Pennsylvania, such states do not permit 30 minute / 0.5 credit programs and as such have not been approved in those states.

*In Hawaii, we rely on their reciprocity policies pursuant to which our programs are deemed accredited once they are approved in the various reciprocity states where we apply such as California, Illinois, New York and Texas.

For information on attendance reporting, please refer to the CLE Info page.

Presenters:

Michele Johnson
Partner, Latham & Watkins

Carson Block
Founder and Chief Investment Officer, Muddy Waters Capital

Program Level: Intermediate

Duration: 30 Minutes

Recorded On: June 16, 2020