TEMPLE UNIVERSITY JAMES E. BEASLEY SCHOOL OF LAW • LAW SCHOOLANDALUMNINEWS • SUMMER 2005Assistant Professor David A. Hoffman teaches contracts,business associations, and law and economics. Hoffmanreceived his law degree from Harvard Law School and beforejoining Temple’s faculty served as a law clerk for Senior DistrictJudge Norma L. Shapiro of the Eastern District of Pennsylvania.He later joined the firm of Cravath, Swaine & Moore LLP in New York City, where he specialized in complex commercial and securities litigation.It was at Cravath that he decided to teach law and to pursuethe research leading to his upcoming essay, “The ‘Duty’ To Be aRational Shareholder,” which will be published in the MinnesotaLaw Reviewin fall, 2005.“I always thought about teaching law. I liked the idea that I could control what I was working on and could advocate forwhat I’m interested in,” he says. Hoffman’s work focuses onbehavioral law and economics, and, specifically, on citizenreaction to cost-benefit decisionmaking. “I am interested inintegrating how people behave into economic models of how thelaw ought to be.”Particularly timely in light ofrecent recommendations regardingsocial security benefits and privateinvesting, “The ‘Duty’ To Be aRational Shareholder” addresses themateriality standard and how thatstandard affects shareholders’ abilityto recover from fraud. In his article,Hoffman demonstrates that nearlyhalf of the time, disclosures inshareholders’ securities cases arefound to be immaterial as a matterof law before they ever reach a jury.Hoffman explains that “to recoverunder securities laws, privateplaintiffs must prove by a substantiallikelihood that a suspect corporatedisclosure omitted (or mis-represented) material facts or factsthat a ‘reasonable investor’ wouldhave considered significant.” continued on page twoTemple law facultyare not only skilled and enthusiastic instructors on issues critical to the study andpractice of law, they are also renowned experts who routinely publish and contribute to books and articleson subjects that generate buzz from North Broad Street to the Supreme Court.Whether on civil rights or healthcare, child welfare or international trade, publications by Temple authorsnot only increase the law school’s visibility among practicing attorneys, legal scholars, and peer institutions,they also broaden the information base in our classrooms, and encourage fresh dialogue and investigationamong our students and teachers. David Hoffman is one of many Temple faculty members whose work canbe found in the pages of current law journals.David Hoffman Analyzes MaterialityIn judging cases under this standard, courts confronted the problem of identifying which disclosures might actuallyhave created market effects. Courts developed the doctrineof immateriality, as a matter of law, under which judgesdismissed plaintiffs’ allegations that corporations had made false or misleading disclosures, presuming that a“reasonable” shareholder would have ignored the fraud. To test materiality and analyze the evolution of thedoctrine over time, Hoffman read 471 cases, and thenconducted an analysis of the doctrine using bothdescriptive and inferential statistical techniques. Based on a regression analysis, and the high likelihoodthat a court will find at least one disclosure immaterial as a matter of law, Hoffman concludes that courts increasinglyare rejecting claims in which investors “irrationally”(according to the court) invested based on information that economically “rational”investors would have ignored.This decision, according toHoffman, is questionable.Hoffman contrasts courts’materiality decisions withfindings from behavioralpsychology, which suggest thatregardless of the quantity ofinformation presented in acorporate prospectus, peoplewill sometimes make decisionsbased on tips from “qualified”individuals—be they financialadvisors or hairdressers; peoplemake decisions because theybelieve “everyone else” hasmade the same decision; and,of course, people makedecisions based on advertising.He makes a case for courts toconsider such humandeviations from “rational”behavior when adjudicatingsuch cases. EXCHANGESTUDENTSlove classes, missIrish chocolateSPRING 2005Leonora Nyhan and DeniseRoche, law students from University CollegeCork in Ireland, say their yearlong exchangestudying at Temple Law has been “fantastic.”As undergraduates in Ireland, Nyhan andRoche already had two years of law study and are enthusiastic about what Temple Lawhad to offer them. “The practical experience we got here—trial advocacy classes and clinical—is notsomething we would have access to at home,”says Nyhan. “The friendliness and accessibilityof the faculty was refreshing. The interaction inclass, where professors engage the students,is totally different from our lecture format.”The only downside the two exchangestudents can agree on is the inferiority ofchocolate in the U.S. While Nyhan has hermother mail her Irish chocolate, Rochebrought so much back after the winter breakthat her luggage was over weight and had tobe repacked.While Nyhan and Roche spent theacademic year in Philadelphia, Temple student,Jim Quinlan, replaced them in Cork for the fall semester. Launched this year on anexperimental basis, the exchange has beendeemed such a success that it has beenformalized for the next three years. HOFFMANcontinued on page fourLEONORA NYHAN AND DENISE ROCHE2 • TEMPLE ESQ. SUMMER 2005DAVID HOFFMAN…continued from page oneWhen deciding to channel certain kinds of disclosures out of securities fraudlitigations, courts apply distinctive reasoning. Just as in, for example, the “fruit ofthe poisonous tree” doctrine in criminal law, or “res ipsa loquitor” in tort, courtsapply shorthand labels to findings of presumed immateriality. Scholars haveidentified four common techniques in recent works: Puffery; Bespeaks Caution;Zero Price Change; and Triviality. Four additional labels for courts’ decisions arepresent in the cases: Failure to Read; Fraud by Hindsight; Truth on the Market;and Failure to Understand Consequences…When disclosures or omissions are found to be immaterial based on the Pufferydoctrine, courts make an assumption about investor reaction to disclosure:reasonable investors do not invest capital based on optimism, but instead basedon facts. Is this true? No. Under many circumstances, behavioral law and economics (BLE) would predict the reverse. The Pufferydoctrine ignores the powerful effects of loss aversion; investors whose stock has lost value are risk seeking (and more likelyto act on positive disclosures with weak informational content). Similarly, Puffery ignores the perversion of rationality thataccompanies our powerful overoptimism bias: when a corporation states that market conditions are “likely to improve,” andwe already own some of its stock, we are likely to think to ourselves: “of course my stock will do better than average.”Arguing that puffing statements will not be relied on also ignores possible endowment effects, experiential thinking,information overload, source blindness, and herd behavior.Use of the Bespeaks Caution technique also contradicts BLE insights. Not surprisingly, only rarely did courts apply theBespeaks Caution doctrine based on an empirical analysis of whether shareholders actually reacted to disclosures whichwere subject to cautions. Thus, courts’ increased use of the doctrine represents a mere assumption that cautionarystatements obviate the reasonableness of reliance by reasonable investors on earlier forecasts (either positive or negative). Not only do individuals have the problems of risk processing (discussed above respecting Puffery), endowment,experiential thinking, and information overload, they are also unable to make (as courts applying the Bespeaks Cautiondoctrine require them) the subtle adjustment with respect to informational source. Courts assume that individuals can heara source saying two things: “I express the following beliefs about the future”; and “Don’t rely on anything I just said,” andmake a rational decision about which ofthose statements is worthy of credence. This is nonsense. Puffery and Bespeaks Caution are alikein another way: they attempt to createbright line rules to differentiate reasonablefrom unreasonable reliance. Both doctrinesare easy to apply (they require merely thepresence or absence of certain magicwords), and easy to create from theperspective of the disclosing entity. That is,disclosing entities can shelter informationfrom fraud by making it part of optimisticpredictions or pairing it with cautions.Notably, both doctrines create incentives forcorporations to use words that they hopewill induce reliance, but which are legallyirrelevant: they are bright line rules thatenable fraud… … And, there is a possibility thatpresumed immateriality will have increasedconsequences in the near future. Recentproposals would “privatize” social security by creating individual retirement accounts. Under proposals that truly createindividual accounts, presumed immateriality might, because it undermines securities insurance for irrational investors (thatis, most of us, most of the time), endanger the retirement funds of millions of Americans.What, then, to do? Some have argued that courts ought to equate materiality with market effects: when stock pricesreact to disclosures, we should presume that the disclosure was material to a reasonable investor. Such proposals wouldmake it substantially more difficult for courts to impose any given ideology. It might also create proper incentives forcorporations to present information in as clear a way as possible. However, the market-materiality proposal appears toassume that Congress intended the securities laws to be a form of insurance, as I have proposed, and not a mechanism toprotect the market itself, as many believe. Market-materiality, moreover, could result in politically controversial suitsproceeding further in litigation than current doctrine permits. In short, if this is the solution to the problems this article hasuncovered, it may be a utopian one…REINSTEIN CHAIRS LAW DEAN’S CONFERENCE IN CHINA“Fundamentally,” he contends, “the party who isbetter able to bear the risk of an irrational investmentdecision is the corporation. Why should shareholdersbe accountable for believing misleading marketingwhen corporations are not accountable for producing it?”In “The ‘Duty’ To Be a Rational Shareholder,”Hoffman details his research process, identifyingcourts’ most common applications of presumedimmateriality, measuring how and when such rulingsare applied, and examining what those decisions sayabout our court system, what they mean for privateinvestors, and, ultimately, how they might fueleconomic inequality in this country.Total CasesPercentagePrevalence in CasesFeaturingof TotalFinding PresumedTechniqueCasesImmateriality*Understand Consequences5617.4%34.1%Trivial5416.8%32.9%Other3510.9%21.3%Bespeaks Caution3410.6%20.7%Truth on the Market247.5%14.6%Puffery237.1%14.0%Failure to Read185.6%11.0%Fraud by Hindsight154.7%9.2%Obscure134.0%7.9%Zero Price Change61.9%3.7%PRESUMED IMMATERIALITY TECHNIQUESDESCRIBES THE TOTAL NUMBER OFCASES APPLYING THE TECHNIQUES, THE PERCENTAGE OF CASESAPPLYING THE TECHNIQUE, AND THE PERCENTAGE OF THESE CASESFINDING ANY CLAIM PRESUMPTIVELY IMMATERIAL.(*Because multiple techniques could be present in each case, somepercentages will exceed 100%)The ‘Duty’ To Be aRational ShareholderMINNESOTA LAW REVIEW,FALL 2005FIVECOMMONPRESUMEDIMMATERIALITYTECHNIQUESOVERTIME SHOW THE EFFECT OFTIME ON THE TECHNIQUES OF: UNDERSTANDCONSEQUENCES, TRIVIALITY, BESPEAKSCAUTION, TRUTH ON THE MARKET, ANDPUFFERY. IT SUGGESTS THAT PUFFERY ANDBESPEAKS CAUTION ARE GROWING OVER TIME,AND TRIVIALITY AND UNDERSTANDCONSEQUENCES ARE SHRINKING, WHILE ONETECHNIQUE (TRUTH ON THE MARKET) HASREMAINED RELATIVELY CONSTANT. THAT IS,WHILE BEFORE 1980, COURTS APPLIEDPUFFERY IN ONLY 2% OF ALL CASES, IN THELAST FIVE YEARS, THEY DID SO 12.5% OF THE TIME.Truth on the MarketPufferyBespeaks CautionTrivialityUnderstand ConsequencesUp to19801981-19861987-19911992-19951996-19992000-2004APRIL 2005Dean Robert J. Reinstein traveled toBeijing to attend the first-ever Chinese andAmerican Law School Deans’ Conference. DeanReinstein chaired the seven-member U.S.planning committee for the conference, whichwas held to establish a more comprehensivemutual relationship between law schools in thiscountry and the People’s Republic of China. Temple Law has had a formal associationwith China since 1999, when, at the invitationof the Chinese government, it created an LL.M.program to help the country institute a rule oflaw. The groundbreaking program for lawyers,judges, and government officials in China is thefirst and only foreign law degree-grantingprogram in the country’s history. At the April conference, participantsexchanged ideas and experiences about eachother’s education systems to facilitate facultyand student exchanges between the twocountries, distance learning, and post-graduateopportunities in both countries. The conferencewas hosted by the China University of PoliticalScience and Law and sponsored by theGuidance Commission on Higher LegalEducation under the State Education Ministry,the China Legal Education Research Association,and the Association of American Law Schools.TEMPLE ESQ. SUMMER 2005 • 3The Legal Advocacy for Patients Program hasbeen awarded a $105,000grant over three years bythe Pew Charitable Truststo expand its program onbehalf of some of thecity’s most vulnerableindividuals. The clinicalprogram, housed in theTemple Legal Aid Office,gives attorneys and lawstudents the opportunityto provide free legal assistance and education to adultsstruggling with legal issues as a result of acute or chronicmedical circumstances.The Legal Advocacy for Patients Program has its rootsin the Mothers with AIDS program, started in 1991. Theprogram has evolved to meet the needs of adults who havecancer and/or are infected with HIV from the denselypopulated, predominantly poor, and of color (Black, Latino,and Asian) North Philadelphia neighborhoods thatsurround Temple’s campus. Support from The PewCharitable Trusts enabled the program to expand to includeindividuals dealing with physical disabilities thatsignificantly impair daily living.“We are very gratified that The Pew Charitable Trustshas recognized the quality of our services and the passionand commitment of the Temple Legal Aid staff to servevulnerable adults,” says Associate Professor Cynthia Batt,Director of Clinical Programs and author of the successfulproposal.All legal services and counseling are offered under theclose supervision of Associate Counsel Spencer Rand, atwenty-year veteran of legal services programs for the poor.“Individuals suffering from serious medical problems ordisabilities often face an overwhelming array of legalproblems related to access to health care,” says Rand.“We try to connect them with available treatment options,public benefits, insurance, employment, civil and statutoryrights, as well as the provision of continuous care of theirdependents.” The Legal Advocacy for Patients Program works hard tomake its services accessible to the most vulnerable.Typically, an adult struggling with the dual challenges ofpoverty and disease hasnarrowed physical andeconomic resources thatlimit travel and access toinstitutions. The programhas designed anaggressive outreachprogram to reach thispopulation. Patientsconfined to their homewho need legal assistancereceive house visits, and those who arehospitalized and need legal advice or a document draftedreceive bedside assistance. While clients can be seen atthe office at the law school, most of the clients are met atone of several medical and social service providers wherelaw students do regular outreach and intake. Clients cancombine their legal visit with a trip to the clinic; forexample, many clients are seen just before or after theirchemotherapy or radiation treatments.LEGAL AID OFFICE SERVES THE COMMUNITY—AND ENHANCES THE LAW SCHOOL EXPERIENCEAll three legal services programs run by the TempleLegal Aid Office have the joint mission of providing legalcounseling and representation to the poor, as well asoffering for-credit clinical courses to law students thatenhance both their lawyering skills and their understandingof the impact that the legal system has on the lives of theirclients. Known as clinics, these opportunities combineexperiential learning with a classroom component, and arefor many an invaluable component of legal education.Founded over fifty years ago in 1953, the Temple Legal Aid Office has been the major, and often the onlyprovider of free legal services to vulnerable adults in theNorth Philadelphia neighborhoods around TempleUniversity. Headed by Counsel Mary K. Hanna, the officeemploys three full-time lawyers and serves as the base for three of the law school’s 22 clinical courses. In additionto the Legal Advocacy for Patients Program, the TempleLegal Aid Office also houses a family law litigation programand a custody mediation program.Pew Funds Temple Legal Aid’s Work with Vulnerable AdultsPROFESSOR KAIRYS AND JIMBEASLEY JR, LLM ’O3 JOINFORCES TO DEFEND VIETNAM VETWhen Kenneth Campbell, Associate Professor ofPolitical Science and International Relations at theUniversity of Delaware, discovered that he was falselydepicted in a film widely publicized in the media frenzy onthe issue of military service thatdominated the last phase of theBush/Kerry presidentialelection, he contacted TempleLaw Professor David Kairys.Titled Stolen Honor, the filmpurported to be a documentaryabout how Campbell and otherveterans, including John Kerry,protested the Vietnam War aftertheir return. Professor Campbell was adecorated combat veteran ofthe Vietnam War and was activein veterans’ anti-war activitiesand protests when he returned.In the early 1970s, he andKerry participated in an investigation of war atrocities,including the infamous My Lai massacre. The preparationand testimony of Vietnam veterans in the investigation wasthe subject of an anti-war film called Winter Soldier,whichshows the prominent roles played by Kerry and Campbell. With deceptively edited segments from Winter Soldierand a knowingly false voiceover, Stolen Honorcontendedthat Kerry and Campbell presented testimony of “frauds”who had “never set foot on the battlefield” and “made up”stories of atrocities. When Campbell came to him for advice just a coupleweeks before the election, Professor Kairys, whomCampbell knew from anti-war activities in the 1970s,thought a lawsuit should be filed immediately, since StolenHonorwas scheduled to be shown on TV across thecountry in about a week. He sought to bring in adefamation lawyer and firm that was tops in the field, so hecontacted James Beasley Jr. Within a few days, Beasleyand Professor Kairys (who is of counsel to the Philadelphialaw firm he co-founded, Kairys, Rudovsky, Epstein &Messing) filed suit on Campbell’s behalf in Common PleasCourt, leading to the cancellation of the scheduled nationalbroadcast of Stolen Honor.The suit also provided an educational opportunity forTemple Law students to work directly with a practicingattorney in a major case. “The case involves importantissues related to the media and electoral politics as well asa range of defamation issues,” Professor Kairys notes. “It isa good one for our students to work on, and they willbenefit from working with Jim Beasley Jr.”KAIRYSASSOCIATE COUNSEL SPENCER RAND WITH STUDENTS CATHERINE GOWAAND LEAH SNYDER BATCHIS.BRYAN A. STEVENSONSPEAKS ABOUT WORK ONBEHALF OF CONDEMNEDPRISONERSEqual Justice Initiative Director is 2005 Herbert F. Kolsby Distinguished Lecturer in Trial AdvocacyBryan A. Stevenson has devoted much of his legalcareer to obtaining equal justice for prisonerscondemned to death. In his current position asexecutive director of the Equal Justice Initiative ofAlabama, Stevenson and his staff have been largelyresponsible for reversals or reduced sentences in over65 death penalty cases.In 1985 Stevenson joined the Southern Center forHuman Rights in Atlanta, Georgia as a staff attorney.From 1989-1995, he represented capitaldefendants as the executive director ofthe Alabama Capital RepresentationResource Center. In his current position atthe Equal Justice Initiative, Stevensonrepresents indigent defendants, deathrow prisoners and juveniles who havebeen denied fair and just treatment inthe legal system. Stevenson, who was a 1995 recipientof the MacArthur Fellowship Award(often referred to as the “genius”award), is also a professor of law at theNew York University School of Law. Hevisited the law school to present theannual Herbert F. Kolsby DistinguishedLecture in Trial Advocacy, founded in 2001to honor the first director of Temple Law’sLL.M. in Trial Advocacy program.4 • TEMPLE ESQ. SUMMER 2005JUDGE DAMON J. KEITH GIVES ANNUAL LECTURE INHONOR OF JUDGE CLIFFORDSCOTT GREEN ‘51MARCH 31, 2005 TheHonorable Damon J. Keithwas the 2005 HonorableClifford Scott GreenLecturer. Judge Keith hassat on the U.S. Court ofAppeals as Judge for theSixth Circuit since 1977.The topic of Keith’sspeech was “The Anatomyof a Dissent.” Known formany landmark decisions,Keith is most cited for hisopinion in U.S. v. Sinclair,commonly referred to as“The Keith Decision.” In Sinclair, Judge Keith, sitting onthe district court, found that President Richard Nixon andAttorney General John Mitchell could not engage inwarrantless wiretap surveillance of three individualssuspected of conspiring to destroy government propertybecause the surveillance was in violation of the FourthAmendment. This decision was affirmed by the Court ofAppeals for the Sixth Circuit, and unanimously upheld bythe U.S. Supreme Court.APRIL 2005 Barbara Adams ’78 was named by GovernorEdward G. Rendell to serve as his general counsel. Adams,a partner at Duane Morris and chair of the firm’s financepractice group, will begin working for the governor on June 1, 2005.Adams joined Duane in 1977 and was made partner in1986. Her practice has focused on public finance,affordable housing, and state and local government law, abackground that makes heruniquely suited to oversee thebroad range of legal mattershandled by the generalcounsel’s office.“Barbara is a talentedattorney with the right skill setto not only overseeCommonwealth legalchallenges, but to manage ateam of several hundredlawyers throughout our stateagencies,” says GovernorRendell. “Her experience ingovernment work, as well asher lifelong commitment tocommunity service, made hera natural choice to be my top legal counselor.”Adams is looking forward to being part of the team thatimplements the governor’s vision. “Throughout my career, Ihave been drawn to government relations and legalmatters,” Adams says. “And I regretted not pursuingopportunities under then Mayor Rendell to use my skills inthe public sector.” In addition, she says, “one veryattractive aspect of the position is that I know a number ofthe chief counsels for various state agencies anddepartments and I respect those attorneys very much.”Adams says it gives her “great comfort” that she will havetheir collective expertise as a resource in her new position.Adams studied in every Temple Law School division atone time or other. She started out as a full-time daystudent in her first year, and then attended the summerprogram in Rome, where she studied international lawwith then-Professor Peter Liacouras and the Italian legalsystem with Professor Michael Libonati. After a leave ofabsence, Adams returned to the extended eveningdivision and later switched to the regular evening divisionwhile clerking at Duane Morris. “That kind of flexibility wasinvaluable” to finish her degree, says Adams.Adams also recalls the advice she received fromProfessor Joe Passon when she contemplated leaving lawschool after her first year. He urged her to take a leave ofabsence instead. In retrospect, says Adams, it was a“brilliant idea” and advice for which she remains extremelygrateful. During the leave of absence, Adams landed a jobin the Office of Technical Assistance for the reorganizationof six troubled railroads into Conrail. The position wasLIACOURAS PORTRAITUNVEILEDAPRIL 28, 2005The portrait of Peter J.Liacouras, University Chancellor andProfessor of Law Emeritus, which willhang permanently in the law school, wasformally unveiled during the annualmeeting of the Board of Visitors at theRittenhouse Hotel. Painted by Neil Kosh,the portrait was inspired by aphotograph taken in 1972 whenLiacouras was Law School Dean.“politically challenging” because of the jurisdictionaloverlaps of numerous government agencies. It also gaveher invaluable experience testifying and working withvarious constituencies on issues such as railroad line abandonment.Adams is an active leader in local and national law-related organizations: she is a charter member of theForum on Affordable Housing and CommunityDevelopment Law of the ABA and is a member of theNational Association of Bond Lawyers, the PennsylvaniaBar Association, and the tax exempt finance committee ofthe business law section of the Philadelphia BarAssociation. Since spring 1998, she has been a boardmember of the Philadelphia Association of CommunityDevelopment Corporations and, in 2003 she joined theboard of the People’s Emergency Center in Philadelphia. —Christina M. ValenteBARBARA ADAMS ’78 Named Governor’s General Counsel STUDENT HONOREDAT LAW DAYMARCH 23, 2005Third-year student Robert Merkin receives the Ethan A. Doty Award at Law Day from Dean Robert J. Reinstein.ADAMSKEITHThe law school’s connection with Cork dates back to theearly 80s, when Professor Charles Rogovin initiated asummer program that ran for several years. Irish-bornProfessor Barry McCarthy, a U.S. resident since the 70s,spearheaded the current exchange program. “[Professor]Lou Natali and I visited Cork in August 2003 to discusssetting up an exchange,” says McCarthy. FollowingMcCarthy and Natali’s exploratory trip, Special ProgramDirector for Graduate Legal Studies Karen McMichaelcompleted the massive administrative tasks involved inestablishing an exchange, and the program was launchedon a trial basis.CLINICAL EXPERIENCE WAS A HIGHLIGHT FOREXCHANGE STUDENTSAs Temple students know, a clinical can offer practicalexperience dealing with clients and legal procedure that isimpossible to gain in the classroom. Exchange studentNyhan enrolled in the Family Mediation clinical, whileRoche participated in the Civil Rights for GLBT Individualsclinical. This summer, Nyhan is working for the GoodShepherd Mediation Center in Philadelphia, and Rochemoves to San Diego to work in the Public Defender’sOffice.Temple alumni who supplemented the Irish students’experience included Assistant U.S. Attorney RichardBarrett ’85, who arranged for the students to spend a dayin the U.S. Attorney’s Office and spend time with U.S.Attorney Patrick Meehan ’86. Joseph Waters Jr. ’94shepherded the students through the Court of CommonPleas and hosted them for Thanksgiving.In fall 2005, four Temple students will study in Cork,and two Irish students will study in Philadelphia. McCarthythinks the four students traveling to Cork in the fall havechosen a good time to study in Ireland: “They see theexchange as a great opportunity to study the interplay oftwo very different systems—the common law system andthe continental civil law one—as the EU increasinglyfederalizes its law.”“They will observe a country in a time of great change.Ireland was formerly a really homogenous society—predominantly Catholic, poor by Western Europeanstandards, and exclusively white. Its young eitheremigrated in droves or remained to marry late and yetgenerate a very high birth rate that still could not overcomethe ravages of emigration. It has transformed itself into adynamic economy that has sustained a very high growthrate for over a decade now. . . . It struggles for the firsttime with many issues that this country has long grappledwith—racism, discrimination, divorce, abortion, to mentionbut a few of the more obvious.”EXCHANGE STUDENTS…continued from page oneTEMPLE ESQ. SUMMER 2005 • 5MICHAELO’NEILL ’89specializes in developing “brownfields” sitesEvening Division graduate started buying properties while still in law schoolESQ. SPOTLIGHTMichael O’Neill ’89 and his brotherbegan redeveloping vacant industrialproperties because “we didn’t have themoney to buy anything better.” In theprocess he learned it was a great niche.“These are neat spaces and thelocations provide a superior economicbasis for our tenants. We got in out ofnecessity, but we stayed because it’s the best end of the business.”Today, O’Neill is the founder and aprincipal of Preferred Real EstateInvestments, Inc., a commercial andindustrial real estate developer,specializing in redeveloping formermanufacturing facilities and“brownfields” sites into office andindustrial space.A native of the Philadelphia suburbs where he nowresides with his wife and five children, O’Neill received abachelor’s degree in finance from Villanova University in1984. Following graduation, he worked as a loan officer forFirst Pennsylvania Bank and made an unsuccessful run forPhiladelphia City Council in 1987. O’Neill matriculated in Temple Law’s evening divisionbecause he couldn’t afford to go during the day. “Nightschool was full of people who had to work and made realsacrifices to go back to school. The life experiences of myclassmates were amazing and admirable; it was a largepart of my law school experience.” O’Neill and his brotherbegan buying up old factories and redeveloping them asoffice or industrial space while O’Neill was attendingTemple Law in the evenings. O’Neill says his law degreehas been invaluable in dealing with the many legal issueswhich arise in his line of work, such as contractnegotiations and disputes, environmental, title, zoning, andconstitutional issues, and insurance, torts, and litigation. The conversion of the Lee Tire and Rubber Factory inConshohocken was O’Neill’s first experience redevelopingvacant industrial space. The property ultimately becamethe Spring Mill Corporate Center. “It was a real learningexperience,” says O’Neill. “We made every mistakepossible the first time round. The costs were more than weanticipated and we ran into environmental concerns.”Eventually, though, “time makes usbetter at what we do.” In 1992, O’Neillwent out on his own and foundedPreferred with two other principals, Eric Kolar and Nimish Sanghrajka.Over the years, O’Neill hasredeveloped dozens of sites mainly onthe East Coast and in Ohio. Many ofthese properties were “brownfields”sites—abandoned or vacant industrialproperties with significant potentialenvironmental liabilities, often ineconomically depressed areas.Developers limit their environmentalliabilities by entering into prospectivepurchaser agreements with the U.S.Environmental Protection Agency andstate environmental authorities. These arrangements,which incorporate environmental remediationrequirements, add complexity to a development project.Perhaps one of the most high-profile “brownfields”projects in which O’Neill has participated is theredevelopment of the landmark power plant built by thePhiladelphia Electric Company (now PECO) along theDelaware River in Chester. Ultimately, the project will create 400,000 square feet of office space, a river walk,marinas, a restaurant, and 800 residential units and willbring 2000 jobs to a community with staggeringunemployment rates. O’Neill says that he likes this end of the real estatedevelopment business because it promotes rejuvenation of economically devastated communities by bringing backsome of the jobs lost when large industrial companiesmoved away. His company is involved in raising money forcommunity centers and charter schools in the communitieswhere it is active. One such beneficiary is the MasteryCharter School at Fourth and Chestnut Streets in downtown Philadelphia. Preferred is currently redeveloping the former Budd car parts plant in the Hunting Park section of Philadelphia,an 82-acre $300 million project. The site will be the newheadquarters of Temple University Health System, and isexpected to be completed in three years.—Christina Valente1957E. HARRIS BAUM,chairman of the board of governors of theCivil War and Underground Railroad Museum ofPhiladelphia, spoke on Philadelphia’s role in the Civil Warand the Underground Railroad, and a report on themuseum’s status to the Society Hill Towers CondominiumAssociation. “Located at 1805 Pine Street, The Civil Warand Underground Railroad Museum of Philadelphia is oneof the city’s hidden treasures,” Baum told the audience.Baum is co-founder of Zarwin Baum DeVito Kaplan SchaerToddy, a Philadelphia-based law firm. 1960ALFRED DI BONA JR.is the first recipient of the JustinianSociety’s 2005 Ambassador Thomas M. Foglietta Service Award.1962LLOYD Z. REMICKhas co-authored, with Harmon Gallantand Bernard Resnick, a chapter entitled “Labor Relations in Professional Sports,” in the 4th edition of The Management of Sportpublished by McGraw Hill in2005. In addition, Remick co-published an article inVillanova Sports and Entertainment Law JournalwithChristopher Cobb entitled, “Keeping the Little Guy Out: An Older Contract Advisor’s Concern, a Younger ContractAdvisor’s Lament?” This article includes a compilation ofagent registration requirements in all 50 states. Remickwas also the keynote speaker at the International Festivaland Events Planning Association, and is president of Zane Management, a sports and entertainment consulting company.1965DAVID SYKES,of the Duane Morris business reorganizationand financial restructuring practice group, has beennamed president of the American College of Bankruptcy,an honorary professional and educational association ofNOTESClassLOVE AWARD GOES TO TEMPLESTUDENTS, ONCE AGAINBLSA TRIAL TEAMTRIUMPHSMARCH 21, 2005Pennsylvania TrialLawyers Association member DaleLarrimore (center), a partner in thePhiladelphia law firm of Larrimore & Farnish, presents the 2005 MurrayS. Love Award to Temple lawstudents Justin Oshana and EileenMonaghan. The award honors MurrayS. Love, PaTLA’s first president, and is given to the Pennsylvania teamthat has the highest score in regionalcompetition of the National TrialCompetition. A Temple team has won the award for the past 17 years.continued on next pageAPRIL 7, 2005Four Temple law students, from left to right, MiaRoberts, Monica Golphin, Joseph Vazquez, and Jessica Dumasdefeated 65 teams to bring home the top trophy from the 2005national Black Law Students Association trial competition. Dumas and Roberts tried the semi-final and final rounds, defeating LoyolaChicago in the finals. Coached by Mark Lee ‘04 and Royce Smith ‘04,Temple was the only team with an undefeated 10-0 record throughthe regional and national competitions.6 • TEMPLE ESQ. SUMMER 2005distinguished bankruptcy professionals, for a two-yearterm. Sykes has been a charter fellow of the College since1990, is listed in The Best Lawyers in America, and iscertified as a business bankruptcy specialist by theAmerica Board of Certification. 1974The International Association of Attorneys and Executivesin Corporate Real Estate recently elected MICHAEL POLLACKto the position of chairman of the organization. Pollack is apartner of Blank Rome in Philadelphia, and chairperson ofthe firm’s real estate department.1976ANN STANKIEWICZ SEGALwrites, “I was recently appointedto the board of the American Red Cross, BurlingtonCounty, New Jersey, Chapter. I was elected to town councilin Moorestown, New Jersey, making history since there hasnever been a Democratic majority in the town in 320 years!”1978SUSANNA LACHS,a member of the Temple Universityboard of trustees, writes, “I have recently been appointedby Senator Arlen Specter, chair of the Senate judiciarycommittee, to be a member of the federal judicialnominating commission, which will be screening andinterviewing candidates applying to become judges on theU.S. District Court for the Eastern District of Pennsylvania.”1979WILLIAM P. CARLUCCI,a shareholder in the Williamsport lawfirm of Elion, Wayne, Grieco, Carlucci, Shipman and Irwin,was sworn in as president of the Pennsylvania BarAssociation during the organization’s annual meeting inMay. Carlucci served on PBA’s board of governors for twoterms, from 1993 to 1996 and from 1999 to 2002, andcurrently sits on the board of directors of the PennsylvaniaBar Institute.1982ELLEN KANDELLwho has a practice devoted to alternativedispute resolution and training has been appointed anadjunct associate professor at the University of Marylandwhere she teaches negotiation and conflict management.1983SHOSHANA BRICKLINhas been appointed director of SocialPolicy and Community Development, an organization thatis working on public service issues, including the SEPTAfunding issue, tax reform legislation, the development of aneducation outreach and mentoring program, and thedevelopment of a public interest venue that will act as agathering hole for people committed to similarsocioeconomic and political goals. MARGARET DENTONhas been named president and chiefoperating officer of DM Partners, which began in January1996 as a DRTV database manager providing thefulfillment requirements for complex direct marketingprograms. Before joining DM Partners, Denton served asvice president and corporate legal counsel for NorthAmerican operations for Regus Business Centres. CLAIRE J. RAUSCHERhas been named executive director ofthe newly-created Federal Defenders’ Office in the WesternDistrict of North Carolina (Charlotte-Asheville).JEFFREY S. SHOSKIN,of Shoskin, Roetzel & Andress wasrecently elected vice president of the Cincinnati BarAssociation. 1984KENNETH M. DENTIrecently joined Fox Rothschild as apartner in the firm’s litigation department, working out of itsPrinceton, New Jersey office. Denti’s practice includescomplex commercial and environmental litigation mattersas well as family law litigation and mediation. He hashandled numerous environmental law issues includingISRA compliance, UST litigation, Superfund/Spill Actcompliance, mold contamination, and the wetlands. Dentiis a former deputy attorney general for New Jersey servingin the Division of Criminal Justice narcotics unit andappellate sections.1985 ROSEANN B. TERMINIhas published a second edition of herbook, Federal Regulation of Drugs, Biologics, MedicalDevices, Foods and Dietary Supplements.It is published byForti Publications.1986On April 25, TIMOTHY R. RICEwas sworn in as one of nineU.S. magistrate judges for the Eastern District ofPennsylvania. Hisprevious positionwas assistant U.S.attorney for theEastern District ofPennsylvania, wherehe served as chief ofthe criminal divisionfrom 2002 to 2005.Rice clerked for theHon. Anthony J.Scirica from 1986 to 1988.BARBARAFREEDMAN ’77APRIL 5, 2005Barbara Freedman ’77, a member of theLaw School Board of Visitors and a former adjunctprofessor of tax law, died in the crash of a small plane. Asa member of the board and a major donor, Barbara andher husband, Dr. Allan Freedman, traveled with a lawschool group to China in 2003. Freedman’s contributionsto the profession were many. She was a partner in the TaxDepartment of Duane Morris and a fellow of the AmericanCollege of Tax Counsel. This year, she was also serving aschair of the tax section of the Philadelphia Bar Association.Contributions from the Philadelphia Bar Tax Section,Duane Morris LLP and colleagues on the Board of Visitorshave established the Barbara Freedman Scholarship Fundfor a student in the LL.M. in Tax Program.DANIEL G. RONCAhas joined Cozen O’Connor’s WestConshohocken, Pennsylvania office as a member of thefirm, concentrating in family law matters. Before joiningCozen O’Connor, he was an associate at Rubin, Glickmanand Steinberg. 1987PAUL E. SMITHwrites that he “has joined ProgressiveInsurance Companies as the supervisor of the Scranton in-house counsel office with responsibility for all ofProgressive lawsuits in Northeastern Pennsylvania.”1988MICHAEL C. MCBRATNIE,a partner in Fox Rothschild’sChester County office, has been selected to serve as chairof the nominating committee of Brandywine Health &Wellness Foundation. McBratnie, who is the managingpartner of the firm’s Chester County office and a memberof the executive committee, focuses his practice on tax,estate, and trust matters.1989DAVID J. STEERMAN,a partner in Obermayer RebmannMaxwell & Hippel’s litigation department’s family lawpractice group, served on the faculty at the PennsylvaniaBar Institute’s Philadelphia County domestic relationsprogram in March 2005. Steerman was one of the featuredspeakers on custody issues. Steerman, whose practice isdedicated exclusively to family law, is a leader of the familylaw section of the Philadelphia Bar Association.TEMPLEESQ.Published by the Temple University BeasleySchool of Law for alumni and friends.ROBERT J. REINSTEIN, DEANJanet Goldwater, Publications DirectorGene Gilroy, Art DirectorSend letters and comments to: Janet Goldwater, Temple Esq. Temple University James E. Beasley School of Law1719 N. Broad Street, Room 510Philadelphia, PA 19122Email: janet.goldwater@temple.edu Fax: (215) 204-1185Change of address: (215) 204-1187Samuel Beckett Class of 1972Charles W. Paul Class of 1976IN MEMORIAMJUDGE TIM RICE ’86 AND JUDGEANTHONY SCIRICANEW MOOT COURT TEAM COMPETESON INTELLECTUAL PROPERTY ISSUESFRONT ROW:PROFESSOR DONHARRIS, GREG BOOKERAND NESHONG HSING;MIDDLE ROW:PROFESSOR DAVIDPOST, PAUL MATUCH;BACK ROW:ASSISTANT DEANSHYAM NAIR AND MATT BERKOWITZ. A team representing Temple Law competedfor the first time in the American IntellectualProperty Law Association Moot CourtCompetition. Students Neshong Hsing and PaulMatuch had the second highest brief score andcame in sixth overall, while Greg Booker andMatt Berkowitz came in third on briefs andtwelfth overall. Co-coaches Professors DavidPost and Donald Harris were helped by lawyersat Woodcock Washburn and adjunct instructorKevin Casey. Professors JoAnne Epps, DavidSonenshein, Susan DeJarnatt, Kathy Stanchi,and Craig Green provided writing and oralargument suggestions to the students. 1992DANIEL JECKhas been named a partner at Eisenberg,Rothweiler, Schleifer, Weinstein & Winkler, where heconcentrates on litigating medical malpractice andproducts liability.1993SAMANTHA DANIELS visited thelaw school on April 14 to discussher career in law and business,as well as her latest career—asan author. Daniels’ recently-released book, Matchbook, TheDiary of a Modern-DayMatchmaker,draws on hercareer as a successful founderand president of a high-enddating service. Her business,Samantha’s Table, connectsprofessional singles living in NewYork and Los Angeles. KEITH KESSELhas been appointed chief executive officer ofAFS Brokerage, Inc., a Denver-based financial servicesfirm. He continues to serve as the company’s chief legaland compliance officer, and serves as an industry arbitratorfor the NASD.1994JEFFREY T. MCGUIREwrites, “I am currently serving on theCentral Dauphin School District board of directors, and Ihave been recently certified as a civil trial advocate by theNational Board of Trial Advocacy, a Pennsylvania SupremeCourt accredited agency.”1995LUKAS REITER, a screenwriter for David E. KelleyProductions’ popular legal shows, visited the law school in April and told a packed audience of spending daysreading legal journals,“searching for the rarecase that translates togood television.” Reiter,who first left the QueensHomicide InvestigationBureau to collaboratewith ALEX WELLEN ’95in developing atelevision show aboutInternet crime, haswritten extensively forThe Practiceand nowconcentrates onwriting scripts forBoston Legal.Dear Temple Law Graduate, Please send us news of your recent professional accomplishments or contributions to your community.________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________NAME _______________________________________________________________ PHONE ____________________________________________________ADDRESS (CHANGE OF ADDRESS ONLY) ____________________________________________________________________________________________________________________________________________________________________________________________________________________________FIRM/AGENCY NAME AND ADDRESS (CHANGE OF ADDRESS ONLY) __________________________________________________________________________________________________________________________________________________________________________________________________DATE ___________________________CLASS OF ________ DEGREE _________SENDUSYOURNEWS!Send to:Janet GoldwaterTemple Esq.Temple University Beasley School of Law1719 North Broad Street,Philadelphia, PA 19122Email: lawalum@temple.edu To change your mailing address, call (215) 204-1187 or go to the website athttp://www.temple.edu/lawschool/. BEASLEY FIRM HONORS TOPSTUDENT IN MOCK TRIALCOMPETITIONMARCH 12, 2005Jim Beasley Jr., LL.M. ’03, a partner atThe Beasley Firm, awarded a unique scholarship to attendTemple University to the student named best advocate ofthe Temple-run 2005 Philadelphia Championship HighSchool Mock-Trial Competition. The Beasley Firm createdthe scholarship to increase access to higher education formock trial students. The winner this year was AsyaMonique Leslie, 16, a senior at Franklin Learning Center.The competition is sponsored by Temple’s Law,Education, and Participation Project (Temple-LEAP) andthe Young Lawyers Division (YLD) of the Philadelphia BarAssociation. “The Temple-LEAP program offers invaluableinsight into the judicial system but most importantlyprovides empowerment and encouragement to hardworking students,” says Jim Beasley, Jr., of The BeasleyFirm. “The scholarship program … reflects the firm’sparticular pride in helping young people achieve theadvantages of higher education.”1996ISABEL TAHAR MILLERgave a talk about anti-Semitism atTemple Beth Hillel-Beth El on May 15, 2005. Miller alsodelivered a talk on anti-Semitism in France last year for thePhiladelphia American Jewish Congress.JILL STERBAKOV,an associate at Morgan, Lewis &Bockius, completed marathons in Anchorage,Alaska, and Philadelphia. The Anchorage marathonraised funds for the Leukemia and LymphomaSociety.1997KELLY PHILLIPS ERB,a founding shareholder of theErb Law Firm, has been appointed vice president ofthe Roxborough Development Corporation, which isa non-profit organization established in 1992 torevitalize business and community relations inRoxborough.JOHN HOWELL.M. ’97 recently joined the faculty atthe University of Melbourne, Australia.1998JONATHAN M. KOPCSIKhas joined the Philadelphia office ofStradley Ronon Stevens & Young as a member of the firm’sinvestment management group. Kopcsik was formerly anassociate at Drinker Biddle & Reath.BRIAN M. MARRIOTThas joined Rawle & Henderson as anassociate in its commercial motor vehicle section andfocuses his practice on the defense of commercial motorvehicles and their insurers.MATTHEW SIEGELhas been named a member at CozenO’Connor. Siegel practices in the insurance litigationdepartment, concentrating in the areas of bad faithlitigation, product liability, insurance coverage, andconstruction litigation. Siegel is also a member of the firm’ssupport center for child advocates pro bono practice group.1999SAMUEL S. WOODHOUSE IIIhas been named the managingattorney for Cozen O’Connor’s Atlanta, Georgia office.Woodhouse, who concentrates his practice in the area ofpersonal injury, products liability, and general liabilityclaims, is a member of the firm’s subrogation and recoverydepartment. He also practices in the field of alternativedispute resolution, and regularly represents his clients incourt-ordered and private mediations.2002U.S. Marine Corps Captain ERIC MONTALVO,has beenrecognized for making his JAG office in Quantico, Virginia“one of the best in the Marine Corps” when he was chosenFROM LEFT:JAMES E. BEASLEY JR., LL.M. ’03, ASYA MONIQUELESLIE, RICHARD SPRAGUE (WHO SERVED AS JUDGE IN THE MOCKTRIAL) AND TEMPLE-LEAP DIRECTOR ROBERTA WEST.TEMPLE ESQ. SUMMER 2005 • 7to receive the 2004 ABA LAMP Award. The ABA LAMPAward is given for “exceptional achievements or forexceptional service to or in support of the military legalassistance effort.” Montalvo has also been honored withthe Marines Corps’ highest honor, a Commandant’s Award.2004PETER C. BUCKLEYis working as an associate in FoxRothschild’s Philadelphia office. STEPHANIE B. FINEMANand CARRIE B. NASEare associates in Fox Rothschild’sBucks County, Pennsylvania office.TEMPLE UNIVERSITY JAMES E. BEASLEY SCHOOL OF LAW • LAW SCHOOLANDALUMNINEWS • SUMMER 2005NON-PROFITORGANIZATIONU.S. POSTAGE PAIDPHILADELPHIA, PAPERMIT NO. 1044TEMPLE UNIVERSITYJAMES E. BEASLEY SCHOOL OF LAW1719 North Broad StreetPhiladelphia, PA 19122VISIT OUR WEBSITE:HTTP://WWW.TEMPLE.EDU/LAWSCHOOL/WRITE TO US: LAWALUM@TEMPLE.EDUCALENDAR OF EVENTSTuesday, Wednesday, July 26-27, 2005CHINA ROUNDTABLEShusterman HallMonday, August 22, 2005FALL 2005 SEMESTER BEGINSFriday, September 9, 2005NEW YORK ALUMNI DAYFriday, September 16, 2005D.C. ALUMNI DAYhttp://www.temple.edu/lawschool/alumni/annualfund.htmlCHECK IT OUT!APRIL 18, 2005The lawschool honoredPhiladelphia aviationattorney and Temple Lawalumnus Arthur AlanWolk ’68 at its annualFounder’s Day reception.Wolk received the honor,presented to a mostdistinguished graduate,for his achievements asa lawyer and for bringinghonor and recognition tothe law school. It is oneof the highestdistinctions the lawschool can confer on agraduate. Wolk, who alsoreceived hisundergraduate degreefrom Temple in 1965, isan adjunct professor atthe law school, where he teaches the school’s firstcourse in aviation law. Founding partner of The Wolk Firm, Wolk isrenowned for his work to advance aviation safety. Formore than 35 years, the firm has been involved in theARTHUR ALAN WOLK ’68honored at Founder’s Day Receptionlitigation of virtually everymajor airline andthousands of smallerairplane accidents, withWolk personally generatingverdicts and settlements ofnearly $1 billion during thelast decade alone. “For the skills,knowledge, and integrityhe has demonstratedduring his nearly life-longassociation with Templeand for his illustrious legalcareer, it was fitting that wehonor Arthur with ourhighest award," says DeanRobert J. Reinstein.A skilled pilot for morethan three decades, Wolkfrequently lectures onaviation law and hasappeared as an aviation expert for ABC’s Nightline, CBSEvening News,NBC, CNN, the BBC, and numerous othertelevision and radio stations around the world. A former legaleditor for aviation publications, he is regularly consulted andquoted by aviation writers. APRIL 8, 2005The Barristers’ Ball, held at the Reading Terminal Market,attracted over 300 law studentscelebrating the approaching end of the semester.LEFT TO RIGHT:TLAA PRESIDENT TERESA CAVENAGH ’85, ARTHURA. WOLK ‘68 AND ASSOCIATE DEAN JOANNE EPPSNext >