M. Perry Motion in Limine to Exclude Analyst Testimony


“In obtaining these declarations, the SEC asked the analysts to assume the truth of the SEC’s characterizations of the information purportedly omitted from Indymac’s SEC filings, and to speculate about how they might have reacted in May, 2008……years before the declarations were signed….had they known such purported facts. At the same time, the SEC…..which purports to demand full and accurate disclosure from others…..did NOT disclose to the analysts critical information about what actually transpired. For instance, the SEC did not disclose the crucial fact that the Bank’s principal federal regulator, the Office of Thrift Supervision (“OTS”) , approved Indymac Bank including the $18 million capital contribution in calculating the Bank’s capital ratio for the first quarter of 2008, and that Indymac’s outside auditor, Ernst & Young (“E&Y”), likewise had no objection to the Bank doing so……Indeed, analyst Jason Arnold has acknowledged that the SEC’s misinformation seriously skewed the views he expressed in his declaration.”

Click here to access Jason Arnold’s January 29, 2012 declaration (based on the SEC’s misinforming him).

Click here to access Jason Arnold’s May 3, 2012 declaration (based on the proper information).

Click here to access the full Motion in Limine to Exclude Analyst Testimony.

Posted on May 25, 2012, in Postings. Bookmark the permalink. 1 Comment.

  1. The SEC’s intentional omission of key information that should have been provided to these analysts is clear evidence that it was not seeking justice, it was seeking a scalp, and was willing to resort to these inappropriate and immoral practices to try to win their suit. Unfortunately, the fact that these people know that they can act in this manner without any risk of reprisal, encourages this sort of behavior. This display of the SEC’s “win at all costs, even if we have to distort the truth” mindset is disgraceful and exposes the true character of this very powerful, and sometimes dangerous, arm of our government.

    Mark Nelson 3256 Sitio Tortuga Carlsbad, CA 92009

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