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Basics of Accounting for Lawyers 2014: What Every Practicing Lawyer Needs to Know


Speaker(s): Alexander M. Vasilescu, Colleen Vallen, Howard Fielstein, Joel Moss, John J. Carney, John J. Molenda, Ph.D., Karen Kincaid Balmer, Kenneth G. Yormark, Matthew B. Greenblatt, T.C. Fleming, Tracy Richelle High
Recorded on: May. 12, 2014
PLI Program #: 51569

John Molenda is co-chair of Steptoe's Healthcare & Life Sciences industry team and is based in Steptoe’s New York office. His practice focuses on patent litigation and counseling at the district court and appellate levels, as well as post-grant proceedings before the US Patent and Trademark Office. He represents clients across technologies, including biotherapeutics (biologics), pharmaceuticals (Hatch-Waxman), biochemical research tools, medical devices, computer software, genetically modified plants, polymers, and automotive parts.

Dr. Molenda's practice has recently focused  on the cutting-edge field of biologics litigation, including pre-litigation counseling and strategy concerning application of the Biologics Act to biotherapeutic development programs.  Dr. Molenda is currently coordinating the strategy for a global monoclonal antibody biosimilars program and previously co-led the legal aspects of an EPO biosimilars program. He speaks regularly on current issues impacting the Biologics Act, including appearances for Knowledge Congress, BIOTECanada, and Canaccord Genuity, and moderating webcasts for the Federal Circuit Bar Association.

Dr. Molenda’s appellate practice concentrates on patent appeals before the Federal Circuit, and his experience includes substantial involvement in numerous such appeals. He routinely advises clients on Federal Circuit practice and procedure, and has guest lectured on these topics at Fordham University School of Law. Dr. Molenda is an active member of the Federal Circuit community, and he currently serves as co-chair of the Federal Circuit Bar Association’s Rules Committee. Prior to private practice, he served as a Federal Circuit law clerk with the Honorable Alan D. Lourie.

Dr. Molenda’s district court practice includes all aspects of pre-trial and trial proceedings. He has played substantial roles in several trials, successfully led a court-ordered mediation, participated in numerous Markman-related proceedings, and managed all aspects of discovery. Dr. Molenda speaks regularly about current legal issues in patent litigation, including serving as a co-chair of PLI’s Fundamentals of Patent Litigation 2014 program and moderating webcasts for the FCBA. He has also authored several articles concerning the Federal Circuit’s evolving law of claim construction.

Professional Affiliations

Federal Circuit Bar Association

Co-Chair, Rules Committee (December 2011-October 2014) Co-Chair, Legislation Committee (October 2008-October 2011)

Co-Vice-Chair, Patent Litigation Committee (October 2005-October 2008)

New York Intellectual Property Law Association New York State Bar Association

Noteworthy

FCBA Legislation Committee Individual Leadership Award, 2011 FCBA Legislation Committee Leadership Award, 2011

Areas of Practice

Appellate & Supreme Court

Intellectual Property IP Litigation

Patent

Patent Litigation Patent Office Practice

Education

The University of Michigan Law School, JD, 1998

New York University, Postdoctoral Research, 1995; Biochemistry

Vanderbilt University, PhD, 1994; Chemistry

Vanderbilt University, MS, 1994; Chemistry

Vanderbilt University, 1991; Chemistry and History, cum laude, with Honors in the College of Arts & Science

Bar & Court Admissions

New York

US Supreme Court

US Court of Appeals for the Federal Circuit

US Court of Appeals for the Seventh Circuit

US District Court for the Southern District of New York

US District Court for the Eastern District of New York

US Patent and Trademark Office


Colleen is a partner in the firm’s Valuation and Forensic Services practice and is based in the Philadelphia office. As an expert in the field of forensic and investigative accounting, Colleen has focused her attention on forensic and fraud investigations, the preparation of financial damage analysis and litigation support.

Colleen is highly experienced in the analysis, investigation and review of financial documents. Other responsibilities have included case planning and management, financial and economic analysis, expert report preparation, oral presentation of findings as well as assistance with discovery, interrogatories and depositions.

Prior to joining the firm she worked for a litigation consulting and a forensic accounting firm and with a Big 4 accounting firm as an auditor.

Colleen is an adjunct professor at Villanova Law School. She has been engaged by law firms, legal, banking and utility associations, insurance companies, and other associations to speak on a variety of topics, including business interruption, financial document analysis and fraud. Colleen has also provided continuing education to attorneys and individuals through various seminars, including a full day class on fraud geared to the banking industry.

Colleen earned a Bachelor of Science degree in Accounting from Rutgers University. Her education has been supplemented by various continuing education courses with an emphasis on fraud investigation, forensic accounting, financial analysis and business interruption. She is a member of the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA).

PRACTICE AREAS

SERVICE AREA

Valuation and Forensic Services
Forensic Accounting
Economic Damage Analysis


Kenneth Yormark is a Managing Director in Grant Thornton’s Forensic and Valuation Services Practice. Mr. Yormark focuses his practice on accounting issues, forensic accounting, financial investigations, securities litigation, and anti-corruption risk assessments. He works with management at major corporations, noted law firms, and government agencies primarily in regard to internal investigations, accounting related litigation matters, and anti-corruption/Foreign Corrupt Practices Act (FCPA) issues in both reactive and proactive environments. He has testified in deposition and at trial in Federal and Bankruptcy courts.

Mr. Yormark is an Adjunct Professor at Georgetown University Law Center where he teaches “Accounting for Lawyers”. He is also a faculty member of the Practicing Law Institute and an adjunct faculty member of the Association of Certified Fraud Examiners.

Experience

Mr. Yormark has more than 30 years of experience in the areas of forensic and investigative services, having managed and conducted numerous complex, often high-profile securities fraud, anti-corruption/FCPA and Ponzi scheme investigations involving public and private companies in all industries around the globe. Prior to joining Grant Thornton, Mr. Yormark was a Managing Director and leader of a major consulting firm’s New York Forensic Accounting Practice.  As Managing Director of another firm’s Business Risk Practice, he served as national leader of financial investigations and anti-fraud initiatives. He was Director of Forensic and Investigative services at a Big 4 firm and a Director in the Forensic Accounting Practice of a global corporate investigations firm.

Professional memberships

  • American Institute of Certified Public Accountants
  • Association of Certified Fraud Examiners
  • New York State Society of Certified Public Accountants
  • Member, ABA Section of Business Law
  • Partner to the ABA Litigation Section – Business Torts and Unfair Competition Committee
  • Past partner to the ABA Litigation Section – Criminal Investigations and Access to Justice and Children’s Rights Committees
  • New York Lawyers for Public Interest, Committee Member
  • Make-A-Wish Foundation
  • Circle of Friends

Education

  • Bachelor of Science degree, from Queens College and Graduate Studies from New York University.


Matthew Greenblatt is a senior managing director in the FTI Consulting Forensic and Litigation Consulting practice and is based in New York and is the Vice President of Sports Analytics LLC, the sports and entertainment consulting subsidiary of FTI Consulting. Mr. Greenblatt has extensive experience in auditing and accounting matters; litigation consulting; forensic accounting and internal investigations; post-acquisition and shareholder disputes; anti-money laundering; and advising troubled companies.

Mr. Greenblatt has conducted multiple forensic investigations in connection with cases involving diversions of funds and fraudulent accounting activity by management and has been involved in several internal forensic investigations conducted on behalf of Audit Committees and/or Boards of Directors for both public and private companies.

Mr. Greenblatt is currently serving in the role of NFLPA Auditor on behalf of the NFL Players Association to assist the NFLPA with its rights to conduct audits of the League and its Clubs.  Additionally, Mr. Greenblatt is managing a team of professionals and forensic accountants in connection with the firm’s retention by the court-appointed trustee under SIPA in the liquidation of Bernard L. Madoff Investment Securities.

Mr. Greenblatt has advised on cases involving partnership disputes; lost profits; breach of contract claims; and accountants' malpractice. Mr. Greenblatt has additional expertise with matters involving acquisitions and divestitures; contract disputes; damages; due diligence; expert testimony; forensic investigations; fraud and fraudulent conveyance; intellectual property; patent infringement and trademark; liquidation; product liability; solvency and insolvency; trustee and examiner issues and valuation.

Mr. Greenblatt has spoken on multiple panels in the area of forensic accounting and investigations and is an adjunct professor; teaching the course Prevention and Detection of Fraudulent Financial Reporting; a required course within the Forensic Accounting Program of New York University’s Finance; Law and Taxation Program of NYU’s School of Continuing & Professional Studies. In addition, Mr. Greenblatt is a recurring panel member on the Practising Law Institute’s annual program, Basics of Accounting for Lawyers: What Every Practicing Lawyer Needs to Know.

Prior to FTI Consulting, Mr. Greenblatt was a Senior Auditor with Price Waterhouse’s Audit and Business Advisory Services Group.

Mr. Greenblatt holds a B.S. in Accounting from Lehigh University. Mr. Greenblatt is a Certified Public Accountant and a Certified Fraud Examiner, and is Certified in Financial Forensics. Mr. Greenblatt is a member of the American Institute of Certified Public Accountants; the New York State Society of Certified Public Accountants; the Association of Certified Fraud Examiners; and an associate member of the Association of Certified Anti-Money Laundering Specialists.

Education

B.S., Accounting, Lehigh University

Certifications

Certified Public Accountant

Certified Fraud Examiner

Certified in Financial Forensics

Professional Affiliations

American Institute of Certified Public Accountants

Association of Certified Anti-Money Laundering Specialists

Association of Certified Fraud Examiners

New York State Society of Certified Public Accountants


T.C. Fleming is the Chief Financial Officer at 1010data, Inc., a fast-growing New York-based software-as-a-service company specializing in big data analytics. He has over 20 years of industry and corporate finance experience.

T.C.’s current role involves the oversight of financial accounting and reporting, taxation, budgeting and expense control, human resources, procurement, recruiting, office management and participation on the company’s management committee.

His experience spans numerous industries including technology, broker/dealers, depository institutions, energy (specifically independent power producers), manufacturing & distribution, environmental services, transportation, specialty finance, publishing and consumer retail.

Prior to joining 1010data, Inc., T.C. served as a senior advisor to the U.S. Bankruptcy Court appointed Examiner on certain financial issues arising from the Lehman Brothers’ bankruptcy. T.C. managed multiple teams of forensic accountants, systems analysts and financial analysts.

Previously, T.C. was a Senior Equity Analyst with an alternative investment fund focused on small- to mid-cap investments. Prior to that, T.C. spent 9 years working at Deloitte in the Special Transaction Services group serving the Texas Pacific Group. He was also a manager in the firm’s audit practices in Chicago, San Francisco, and London, where his clients included SEC registrants as well as privately held corporations in the Financial Institutions industry group.

T.C. regularly lectures on accounting and financial due diligence topics. In addition, T.C. has authored/co-authored articles published in The Daily Deal and Seeking Alpha.

T.C. received his M.B.A. in finance from New York University’s Stern School of Business and his BBA in accounting and computer applications (double major) from the University of Notre Dame. He is a certified public accountant licensed in the state of Illinois.


Tracy Richelle High is Deputy Managing Partner of S&C’s Litigation Group, and a member of both the Firm’s Labor and Employment Law Group and Criminal Defense and Investigations practice. Ms. High’s practice focuses on representing financial institutions and other corporations in complex civil litigation, arbitration and mediation proceedings, corporate internal investigations, and labor and employment matters.

Internally, Ms. High serves as co-chair of the Diversity and Women’s Initiative Committees and one of S&C’s hiring partners. Ms. High also oversees S&C’s active networks for minority associates: the Asian Associates Network, the Network of Black & Latino Lawyers and the LGBT Network. Each of these groups is dedicated to enhancing the experience of S&C’s diverse attorneys and championing their retention and advancement by fostering professional development, networking and mentoring opportunities.

Externally, Ms. High is a member of the board of directors of the Legal Aid Society, Lawyers’ Committee for Civil Rights Under Law, New York City Bar Justice Center, Partnership for After School Education and YWCA-NYC. She also serves on the Steering Committee of the Kate Stoneman Project, is a Trustee of the Federal Bar Council and Harvard Law School Association, New York City, and is a member of the Association of Black Women Attorneys and Metropolitan Black Bar Association.


Alexander M. Vasilescu is the Regional Trial Counsel for the New York Regional Office of U.S. Securities and Exchange Commission, Division of Enforcement, located in New York City.  In that position, which he has held since 2005, Alex oversees New York's Trial Unit, which consists of Alex, 8 Senior Trial Counsel, trial unit paralegal and Regional Litigation Counsel. Since joining the SEC in 1995, Alex has led investigations and litigations involving violations of a wide range of securities law. Most recently, Alex brought the emergency action against Bernard Madoff on December 11, 2008, and he also led the expedited investigation and litigation, filed on August 11, 2008, that brought down the $255 million Ponzi scheme by Wextrust entities. He also recently let trial teams that won a jury trial in the Southern District of New York against a father and son that committed insider trading (SEC v. Mitchell Drucker et al) and that obtained favorable initial decision and settlements against 7 respondents in an administrative hearing involving mutual fund late-trading and deceptive market-timing (Trautman Wasserman AP.).  Alex also led the SEC's investigation and prosecutions relating to a $3.3 billion accounting fraud at Computer Associates International, Inc. Alex and his team at the SEC charged 7 executives, including the former Chairman and CEO, the former CFO, and the former General Counsel. In addition, Alex has overseen various other investigations and prosecutions, including enforcement actions against:  Dana Giacchetto, an investment advisor to Hollywood actors and artists for defrauding clients; John G. Bennett, Jr. and the Foundation for New Era Philanthropy, for committing a $500 million Ponzi scheme and a registered representative at Prudential Securities who aided and abetted that fraud; State Bank of India and Citibank, N.A. relating to a  multibillion dollar unregistered bond offering; and 17-year-old Cole Bartiromo, for conducting a multi-million dollar fraudulent securities offering on the internet.  Prior to joining the SEC, Alex was a litigation associate at the law firms of Paul, Weiss, Rifkind, Wharton & Garrison and Kramer, Levin, Naftalis & Frankel LLP. Alex received a B.A., cum laude, in Economics and International Relations from Tufts University, and J.D. from Cornell Law School.


A former Securities Fraud Chief, Assistant United States Attorney, U.S. Securities and Exchange Commission Senior Counsel, and practicing CPA, John Carney is a seasoned advocate who represents regulated entities and public corporations—their officers, directors and employees—in SEC and criminal law enforcement investigations, as well as in related civil litigation. Utilizing his depth of experience in domestic and international regulatory and criminal enforcement matters and complex litigation, as well as his financial background, John is repeatedly retained by audit committees, corporations, and senior officers of major public companies to conduct internal investigations, to provide counsel during investigations, and to design remedial compliance and corporate governance measures. He regularly conducts investigations of possible FCPA violations and other potentially improper foreign country-based financial transactions, and works proactively with companies to structure and implement FCPA compliance programs.

Based upon his extensive trial experience and sophisticated advocacy in complex financial matters, John was recently nominated and named to the Securities Docket "Enforcement 40," a list of the 40 top securities enforcement defense lawyers in the country. He is ranked in Chambers USA: America's Leading Lawyers for Business and is also "Certified in Financial Forensics" by the American Institute of Certified Public Accountants. He is co-leader of BakerHostetler's national White Collar Defense and Corporate Investigations practice. John has lectured extensively at conferences and training seminars on topics such as FCPA, insider trading, securities fraud, and litigating complex accounting cases.


As a Certified Public Accountant, holder of the AICPA's Certified in Financial Forensics accreditation, a Certified Fraud Examiner and a Certified Forensic Accountant, Karen's areas of expertise include litigation services, generally accepted accounting standards, auditing standards compliance, fraud investigations, evaluation and implementation of internal controls, generally accepted accounting standards and international accounting standards. Karen has performed investigative and FCPA compliance work for more than twenty five years in numerous countries around the world.