To: Scrumpy who wrote (5822 ) 5/25/1999 12:40:00 PM From: C.K. Houston Respond to of 9818
Brokerage House Analysis, "Y2K Update - A Legal Perspective" To avoid creating my own "legal perspective", I will keep this short. Goldman Sachs is beginning a series that "touch upon some aspects of Y2K that have not yet received much attention". The first was on litigation. This somewhat report is interesting if you can get your hands on a copy because it places the whole problem industry by industry and issue by issue in the language of a lawyer (and legalities). If anyone can find it they would be interested. What jumped out at me was... (1) The legal boondoggle due to overseas problems looks huge , and (2) the statement, "I suspect that shareholder securities fraud lawsuits will be the most significant type of litigation that will occur after December 31, 1999." Clearly, GS's high paid legal consultant thinks precipitous dips in stock prices in conjunction with failures to "fess up" in the SEC disclosures will be prominent. Even if you can't get the report, the expert consultant, Jeff Jinnett, may have written up other reports that can be located on the web. --Dave Collum (aaa@aaa.com), May 25, 1999greenspun.com ---------------------------------------------------------------------------------------- <Trust me, your Y2K concerns were remediated years before the press woke up and and told you about them. > Hey Scrumpy - you gonna go to this conference??? SIA's YEAR 2000 UPDATE CONFERENCE - June 23, 1999 Securities Industry Association June 23, 1999 - Marriott Marquis - 1535 Broadway - New York City"THE FINAL STEPS" "Now that your firm's code remediation is complete and testing is underway , it is imperative to put all the pieces together by discussing the "final steps" necessary to complete your preparation for the millennium change. One of the most important final steps is to have sound contingency plans in place to address possible internal/external issues . Representatives from participating exchanges, financial utilities, and SIA subcommittees will focus on discussing contingency plans, industry-wide testing results and other hot topics. In addition, representatives from the US government, key municipalities, power, electric and gas utilities as well as the telecommunication industry will provide you with an update on their most recent Year 2000 efforts."sia.com ----------------------------------------------------------------------------------------LOL - First time I've run into this. Before you can get into SIA Y2K site, you have to "sign" an agreement. Here's the beginning ... lots of specific dislaimers follow. AGREEMENT THE INFORMATION CONTAINED IN THE SIA YEAR 2000 WEB SITE IS PROVIDED "AS IS." ALL WARRANTIES AND REPRESENTATIONS OF ANY KIND WITH REGARD TO SUCH INFORMATION ARE HEREBY DISCLAIMED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE OR WARRANTIES AS TO ANY RESULTS TO BE OBTAINED FROM THE USE OF SUCH INFORMATION OR DERIVED FROM SUCH INFORMATION ...sia.com Cheryl