Defendants Stand Divided In Tie-In/Laddering Cases

 Although co-defendants in a lawsuit usuallytry to set aside their differences to create a united front againstplaintiffs, the recent onslaught of IPO tie-in/laddering cases isleading to finger pointing among defendantseven before the suits goto trial.

Attorneys representing issuers of initial public offerings andtheir directors and officers believe the tie-in/laddering casesshould not be directed at their clients, but rather should focus onthe allegedly more culpable securities underwriters.

Also, D&O insurers, who may be called upon to pay at least a$400-$600 million settlement bill are trying to find ways to avoidpaying claims or ways to get their money back if they have to paythe claims.

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