Receiver, Examiner and Investors’ Attorney Announce

August 30, 2010
FROM: Peter Morgenstern, Esq. (pmorgenstern@mfbnyc.com), (212) 750-6776
John Little, Esq. (stanfordexaminer@lpf-law.com), (214) 573-2307
Ralph Janvey, Esq. (SFREMails@stanfordeagle.com)

On August 10, 2010 United States District Judge David Godbey approved the appointment of a seven-member official investors committee to represent the interests of all Stanford investors (the "Committee"). Since that time, the court-appointed Receiver, Examiner, and counsel for the investors who sought establishment of the Committee have conferred and considered expressions of interest from investors and their representatives who inquired about serving on the Committee. After considerable deliberation, taking into account the candidates’ experience and background and the objectives of the Committee, the following individuals have been asked and have agreed to serve on the Committee:

• John J. Little, the court-appointed Examiner;

• Peter D. Morgenstern, the attorney for the investors who sought appointment of the Committee and represents a diverse group of investors from around the world;

• Ed Snyder, an attorney who represents several hundred Mexican investors with combined losses in excess of $220 million;

• Ed Valdespino, an attorney who represents over two thousand Latin American investors, primarily from Venezuela, with combined losses in excess of $500 million;

• Dr. John Wade, an investor from Louisiana;

• Angela Shaw, an investor and the founder and director of the Stanford Victims Coalition; and

•Jaime Pinto Tabini, a Peruvian attorney who represents a substantial group of clients.

The Committee members represent a cross-section of the Stanford victims' community and will work together to fairly and effectively represent the interests of ALL investors, regardless of their nationality or geographic location. The specific responsibilities of the Committee are set forth in the Court’s Order, but simply put, the mission of the Committee is to assist in maximizing recoveries for all investors in the shortest time reasonably possible, and to provide Stanford investors with a direct voice on important issues related to the receivership proceedings. Undoubtedly, there are many besides the persons listed above who could serve well as Committee members, but because the Committee consists of only seven members, it is not possible to accommodate all who are qualified and willing to serve. We encourage ALL investors to communicate any concerns, questions or ideas to the Receiver, the Examiner or to any member of the Committee at any time and on any topic relating to these cases. We sincerely welcome your participation and input. The Committee intends to communicate regularly with you, primarily by means of a website to be established by the Committee, and through other means, including organizing a public forum in the coming months to provide investors with an opportunity to ask questions or raise issues of concern to them. Additionally, both the Receiver and Examiner will continue to provide information to the public on the Stanford matter through their respective websites and through formal reports to the Receivership Court.