Free Motion to Stay - District Court of Federal Claims - federal

'"

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 1 of 38

~ Jimmy Haber c:jhabe~div9roup.com:; on 12/20/2000 11 :37:38 AM

To; R. J. Rublenn3VVLP~BVVLLP
cc:
Subject (Fwd: 008. County of Resdence, Spouse)

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200 15:21:16-0

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Dee 200 15:21 :16 -0500 Mese-Id: ':2B596BDE5D011978900805FE64F800BFAFBD5~USMNYEXC01:;

From: .Spelss, Timothy P" .:speissCDg.com::

To: .Spess, TImoty P" ctspeissmg.com:;, "'MoxTan'" c:oxn~heliosfinanciaLcom:;, "'Frank
Montgomer C:fmontgomer(gmontaw.com:, "'Enc Woldenbe'" c:ewldencmpryrchman.col1, "'(OGI) Phil Kampf" c:hilkampfCheliosfinancial.com::, M(DGI) Jimmy Habe .:ñabercdivroup.com:;
Date:

Subjec: RE: OOB, County of Residence. Spouse Tue, 19 Dee 200 15:21:09-000 MIME-Version: 1.0 X-MaDer: Interet MaD Seivce (5.5.2650.21)
Content-Type: multpaalternative; boundai - _ = _NextParl- 001_01 C069F9.39B7 ACEO"

X-MoZllla-Status2: 0000000

Jimmy, please forwrd these addresses to R.J. Ruble for purposes ofthe

engagement letter
We want two opinions, one

issued contemporaneously wih the trnsaction, and

one issued contemporaneously with the fiing of the ta retum. In addilon
we woulds like to see intended opinion representations by the client

Keit Tucker 2816 Vine Stret

Apaent 253

i '- ".
Redacted

DaDas, Texas 75204

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KTTC2768

.."n"i:..e-....

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 2 of 38

We would also like an opinion frm one of the other tw law firms you are workng with.

Thanks

TPS

-Original MesageFrom: Spiss, Timothy P

Sen Tuesday, December 19, 2000 12:37 PM To: 'Mox Tan'; Frank Montgomer; Eric Woldenber; Speiss. TImothy P; (DGI)

Phil Kapf (DI) Jimmy Habe
Subjec OOB, County of Residence. Spouse

Kei Tucker

008:_ Spou e: Laura

County of Residence: County Dallas. Texs

Î : ~ : = . - - - - - , - , - - - . - - - - - . - - ~ ~~ ~~ :

I _ Redacted
-Original MessageS Corporation - Projec Epsolon

'- - I - -

i ~-= -: ~ ~ ~. _ - - - - - - - - . - - - - - - - - --.--- -----~

Fro: Mox Tan (mailt:moxtan~heliosfinanciai.comi

Sent Tuesday, Decber 19.20009:30 AM
To: Frak Montgomer; Eric VVoldenberg; (KMG) Tim Speiss; (DG!) Phil Kampf;

(DG!) Jimmy Habe 50 - - - - . ~

Subject Contact Lit - Projec Epsolon an't~~~~t~REVSED DRA

Name: Sligo (200 Company Inc,
FEIN 51-005078 - th Mr. Keit Tucker Address: Departent 502

264 Capitl Trail, Suite 300
Newark. DE 19711 Keit Tucer (SS:.__ ~ 1 . Home addresslesidence: 2816 Vine Street, Apt 25, Dallas, Texas 75204 Phone: 913-2361915
Fax 913-2361939

Keit Tucker's SMLLC: Sligo (2000) LLC (ID number SSi-- fbo Mr. Keith Tucker Departent 502

264 Capitl Trail, Suite 300

KTTC2769

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.. =. r 1"~oj,. ,..J r.":1:05-cv-00999-MMS ~ i"1Document Case \.. :.-_ r~ ¡ . ;L. (."¡': i.

10-13

¡~_..1... t;(L .JJit:

tf-Ltl:

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Filed 01/13/2006

Page 3 of 38

8 ROW N & WOO D LL.P
ONE WORI.O TRADe: CEN-rER

NEW YORK, NY 10048-0557
n:cCPWO"'C. ~I ~.e39.S300 ~..C:;IHIL£.' i 1.?~a39.SSiiS

December 26, 2000

Mr. Keith Tucker 2b16 Vine Stïtct
Aparment 253

Danas, Texas 75204

Re: Special U.S. federal Income Tax Counsel

De.ar !\t1r. Tucktï:

You 1n.ve asked that we act as speciall;.S. federal income tax counsel to you in
COiliecti.Ni ').Ü'n certain invt:stmen1 transactions in which you have engaged involvig the

acquisition of ¡¡. interes! in a foreign corporation though an S coon and yom entering into varo'" digital tbreign ClIl.i'CY option tres, both in your indvidual caacity and thugh the

foreign ",,,~nr"tion ,"Tr,riactions"). In that capacity, you have asked that wethe Tnnactins (i) provide you with
the U.S. federl income tax conseuees of an opinioo rêg3Iding certain of

in connecnon with ,,'te dosing of the T ranaetion, and (ü) in cotion with yom fillng a U.s.
federal income tax. return reporting the transactions on Aprill 5, 2001- In the case of the latter
opinion, ,vo w;¡¡ only be obligated to provide such opinon in the event tha ther has be no
adye,," change in ~he statute, regu,tions, or adinistrtive or judicial interretation therf

the Transactions.
subscquem to the closing of

.y.itn í/Qur ~:?_ll1(ipation 1n the Transactions win not guarantee the U.S. federal income tax

conseq!IW'os L\ereof. but ,,'in provide only that ,uch tax consequences are "more likely than
noi" TO occur

, .: - EXHIBIT

Yon 8.C.¡'JìO'.~\;::d.;t: that any U.S. federal income tax opinion that we issue in connection

\J.e herehy agree to so represent you. We wish to point out that although we are not

rcp",senting Of ad\ ¡,i:i g ¡he Diverified Group Incorporate or any of it; affliates
("Diversified") in Co"c,,,tion with the Transactions, in tho past we have reeseted or advised
DivÇr~i1ied wi th res'Çt;c.ï. !() certain matters and may continue to do so in the furoe. By. your

acceptance of tho; ktt", JOU waive any legal confict that may are from ,uch cuent, past nr
f!.\ture: representations.

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KTTC2755
:';l,:NCISCO . Il/ASHlh.5TON D.C . 6EIJIÑG . TOk.YO R

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,...;)00... toUL.TlNATIU'IAL P....TNi:FlS..I~ WIT'" ofFICI

Case, 1:05-cv-00999-MMS A. I.Document 10-13li.;~l.£ oiL. ..,,10 Filed 01/13/2006 .... .C!_ __ 1111\. .... ~ ~ _. ,. .

Page 4rMu.i of 38

"''' '"

By ~"ùnr acct-ta!i(:e of

this letter you agrc:e that any contrversy or clai arsing out of or

relating LO thi:; lt~le:-, and tb-e matters addressed herein, shall be settled by arbitration
.administ~red bv tbe .:"JFèrican Arbitration Association in accordance with its Commercial Rules

and judnnt:nt òn tbe J.',;\..:~ni rendered by the aritraior may be èntered in any cowt having

junsdiction Th~reoí. The arbitration proceeding shall be conducted in New York City. New York. The :irbitrator shaH have the authority to award any remedy oneliefthat a court of compet~nt jurisdiction could order or grt. Except as necessar in court proceedgs to enforce
this arbi,nation ~ìro'.i.sion or an award rendered hereunder, neither a par nor an arbitrator may

disclose the existem:c, content or results of any arbitrtion hereunder without the prior written consent of boih p~:.ie:)- The paries acknowledge that this lett(.-r evidences a trsaction

mvohing interstate commerce. Tl;e parties agree that United States Federa Arbitrtion Act shall
govern the interpretatior~, a.'ld enforcement ofihis arbitration provision.
your acceptace of this letter as evidence of please return an t\dc.nowkdged copy of

the

tenllS here(i f.
Very trly yours.

(.

~ kUJJ) Ld

~gk-£
Acknow ledged

KTTC2756

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 5 of 38

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R. J. Ruble

12/71200012:43 PM

To: Susan L SodanoINYIBWLL~BWLLP

cc: j":':'--:':;

Subjeet:iRedacted~

~~~--_.:':~
Forwrded by R. J. Ruble/YIBLLP on 12/71200 12:44 PM ~ Jimmy Hai- ~ihabe.¡lv"'up.co' on 1211200 ",,,,.. Al

To: R. J. RubleIYIBWLLP~BWLlP

cc: "".-.---."
Subject: ~'edactéd

k~____:~

~:~---_. ------ -- - .--~:~
Redacted

I -- -- I - _. i -. i._ ' .
Denise

I am in receipt of the Keith Tucker an

you. I will need another one for Dale 8 address it as follow:

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KTTC2772

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 6 of 38

Unknown
From:
Jimmy Haber (jhaber(gdivgroup.coml
Friday, January 26, 2001 11 :46 AM

Sent:
To: Subject:

R. J. Ruble i- - - - - Re: -lndt.9_a_~t~iversified Opinions

~ Tucker Opinions
These opinions wil be two opinions. One is increase in outside basis by virte of
a 351 contrbution of two options into an S Corp. and the second, a loss generated

by the CFC strtegy. You do not have any informaton on these opinions as of yet. Orrn just finished a form opinion lor the CFC par wi the help of Bry Cave. I am reviewing the opinion and puttg together the closing documents to send to you
in the next day or two.

"R. J. Ruble" wrote:
"

~ I just got a cal from Tim Spiess of KPMG asking how these two opinions

:; were progressing. I don't remeber them. Are they done? They did not appear to
:; be in my files of not plain vaila deats. Could you let me know? Thanks.

~ ~
~ This information may contan confidential and/or pnvileged matenal :; and is only transmited for the intended recipient. Any review,
~ retrsmission, conversion to hard copy, copying, reproducton,

~ circulaton. publicaton, disseminaton or other use of. or tang of
:; any acton, or omission to tae acton, in reliance upon this

~ informaton by persons or enties other than the intended recipient is
~ prohibited. If

you have received this message in error, please contact

~ the sender and delete the matenal from any computer. disk drie,

~ diskette, or other storage device or media. A list of parters at each

~ offce can be provided on request.

i)
I atti.htm (1 KB)
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KTTC2773

M361

066

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 7 of 38

950 Third Avenue, 23rd Floor
New York. NY 10022

Phone: (212) 688-2700

Fax: (212) 688-7908

THE DIVERSIFIED GROUP INCORPORATED
MEMORANDUM

TO: RJ. Ruble
FROM: Orrn Tilevitz, Esq.

DATE: Januar 30,2001
SUBJECT: CFC Technique
Jimmy asked me to send you tls note. You wip lb~iLtQ .wrte_ Q?_in-?ns to Sligo (2000)

Company Inc.~. and. . .Redacted. . ¡Each is.an S corporation
that acquired a series of options though a cFC:-'flie L"FCYtiãdm£(activities resulted in gain
recogned at the CFC level (but not passed through to the S corporation) and loss recgned
at the S corpration leveL. Also, the shareholder of each corporaton separately acquired an

option spread through a single-member LLC and contrbuted the LLC interest to the S corpration in a section 35 i transaction with the tax goal of increasing outside basis
suffciently that the shareholder could deduct the S corporation's loss. Each shaeholder wil

also nee a opinion on this issue (separate from the one issued to the S corpration). Jimmy will be sending you, under separate cover, detailed descnptions of these transacions.
Atthed to assist you in preparing the S corporation opinion is a fonn legal opinion, prepared by a lawyer at Bryan Cave LLP and substantially edited and supplemented (e.g., the Bryan
Cave draf did not include the tax shelter, step trsaction and penalty discussions) by yours

truly. The ta discussion was designed to be self-contained; i.e., it does not refer back to paricular facts in the fact secion. To the extent you choose to use the form, be forewared that the separate conclusions within the tax discussion do not consistently reflec a "more likely than not" standard.
The page references within the opinion were "bookrarked" by Bryan Cave and can be updated automatically by hitting "F9".
As always, I am happy to assist you or your staf with any substative or technca questions.

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KTTC2774
M361327

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 8 of 38

Unknown
From:

Mox Tan (moxtan~heliosfinanciaLcoml
Wednesday i March 14, 2001 2:43 PM R. J. Ruble

Sent: To:
Cc:

\(DGI\) Jimmy Haber
Basis rep letters

Subject:

AJ.

- . - . - - - . - '-'

I have atched a dra 01 rep lelters for the basis step up opinions for" Tucker ani.ß~Q~~t~c... Please review. and ii they are
OK,

I will forward them to the clients for signature.

Thanks.
Mox

Max Tan

225 West Washington Street. Suite 2200 Chicago. Ilinois 60606
Offce: (312) 41~6150

Fax: (312) 41~153
Mobile: (312) 399-620

at1.htm (1 KB)

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I Tucker

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03.14.01

:' =. =: =. =. =. =. =. =. =. ~. ~. -' -' -_. -_. -~ ~'i~ == = ~== ~~ =~-~-~-~--i

i: Basis Rep Lett... .,_ Tucker 03.14.01 Basis Rep Lettèr.doc

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KTTr1168

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 9 of 38

Unknown
From;

Sent:
To:

R. J. Ruble Friday, March 16,200112:41 PM

James Haber :-: ~. - - - - - - ;:.-.,
Re: _ TuckerL__f:~~~~~g :..!

Subject:

to call there are 1"m free. The rep lettere should just repeat the reps in the opinions. Susan set it up originallydients.1 wil tr modeL. so you when a couple of of the wrong that is less painful to the
reps that need to be added. I can live with a separate letter if

but today is management-ommittee-meetings-on-the-merger day and I'm not sure when I'll be free.

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V'TTr?7RO

Case 1:05-cv-00999-MMS

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Page 10 of 38

Unknown
From:

Sent: To: subject:

James Haber Ohaber~divgroup.comi Friday, March 16, 2001 12:37 PM

R. J. Ruble ¡:::------------:

l- Tucker~.-~~_~~~~~.: :-_~

letters are okay fo Tucker and
~ Pl~a2~ l~trn~ know if the Rep. i_~~~~~t~~j so that I may get

them signed pñor to sen ing them an

--

opinion. Please call me when you get an opportnity to talk. I have a
few things I'd like to discuss with you.

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Case 1:05-cv-00999-MMS

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Page 11 of 38

.,

MA-23-2Øl 13:41
\ .

DIVERSIFIED GRO

1212723972 P. 01

tf

,

9SThAvee,23rd Roa
New Yor, NY 100
Phe: (212) 682700

Fa (212) 68190

THE DIVERSIFIED GROUP INCORPORATED

Fa
To: Suan Sodan I RJ Ruble, Es.
Brow & Woo
Frm: Jam Haber

Fai
PhGne;

Ga Ma 23. 201 pq 4
CQ

Rei

o UI' 0 For Itm.w D PI.. ComNt i: ... R.IV
.

i: PI... 'bccle

Comm..ta

Per oUr tOV~tion, ca you ple sublõtute #14 of

the ared revsed Re. letinto th

opinon.

Th. Den
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KTTC2781

M0253115

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 12 of 38

MA-23-2Ø01 13: 41

D I tJ i F i ED GRLP

1212753972 P. 52

Bi0WN & WOOD LL
Mr. Keth Tucker
Page 3

J)ciber31,2oo

4. Based on the advice of Alha and upon Invesor's ow indeendent evaluaton. Investor had an oppty to make an aggrgate grss re in exce of the
su of Investor' $ net invesent in the Opitl)DS and the porton of any advisory

fee paid by Investor attrbutale to the Tranactions ("AdvisoJy Fcc").
5. . Investor contrbuted the membership interest in SMLLC to Corp to increae

Corp's capital.
6.

SMLLC has not eleçted uner Treas. Reg. §301.7701-3 to be clasifed as a

coon.

7.
8.

Investr ha not hedged Investor's risk with reect to the Options with Ban.
Investor ha not identie~ and will not idetify, any of the Options as being par
of a hedgig tranaction uner Treas. Reg.§ 1.44.

9.

Invesor, SMLLC, and Corp each uses the U.S. dollar as such person's fucnonal curency.

10.

Ther existed no undcrng, agreeent, obligation. 0t: argeent purant
to which any of

the pares described b. commtted to unere al or any of
Investo) and

the t:tions descbed herin upon th haening of any other traction.
e'tccpt to the extent that InvesrlSMLLC (an Corp as treree of

Bai were contractuy obligated to perorm uner the Options in acrdance
with their stted te.

11.

Investor ha not enteed into a confidentity agreemen or otheise a.gr
(oraly or in wrtig) to any obligatioD$ of confidentiality with respt to the

Trasactions.
the
12.
Invesr is an individual whose "tax home" as defied in Section 911(d)(3) of

Internal Revenue Code of 1986, as amended ("Code'j, is the United State,
13.
Investor oWns 1 00% of the isued ånd outtadig stock' of Coi.

COW was formed for the pricipal purose of invesng in foreign curncy, either

c.
is.
""US IIl0380IlI

. diy or thugh dervatves, such as the Options;

Cor wil in fat enge in

such trsactons; and Investo does not intend to cease engagg in such

trac~on$ through Corp for ~c foi:eeable futur (i.e.. at le~t 12 months).

Investor actively parcipates in the management of Corp's activities.

KTTC2782

M0253116

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 13 of 38

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MA-23-201 13: 42

DIUERIFIED GR

121273972 P. Ø3

,l
Keith Tucker C/o Waddell &i Reed FiDUcIal IDe.
6:J00 Lam AVCDDC

Sbawnee Mission, KS 66iOi

Brown &. Wood, LLP

i Wot\d Tra Center

New York NY 10048

Atteron: R.J. Ruble, Esq.

, .
1.

Laes and Geneien:
. The undCrsgned ("Investor") hereby makes the following representatons as of in. connection witb your rely 31,2000. upon which YOll may

December
issuace ora u.s. feder income

ta opinon (llOpinion") regardig certin tractions ("'Traactionsll) in which the uncmgnø
ha parcip81cd th involve the acquisition, thugh a single member domestc limited liabilty Investor's interest in SMLLC company ("SMLLC"), of cerai options ("Options") with resect to which the cowiteIpar was
an unlated ficial intitution ("Ban'') an the contrbution of

to a domestic corporation C'Corpl'):

the Investor end into the OptiOD5 for substantial non.ta business reans, forei¡n
includig to produce an over economic prfit from the movement of

curencies refered by the Options.

2.

Based upon Invesor's own indepdent evaluation an upon advice of Alpha Consutats, Inc. (0 Alpha"). Investor b~li~ved that by enterng into the Options.
Investor could signficantly levere Invesor's invesuncnt in su.ch foreign

curency.
the foreign curncy reaching

3.

Based upon advice of Alpha as to the probabilty of

cerai levels at which th Options woud be prfitale. and upon investor's own

independent evaluation. Investor believed th Inestor had 8 reasonable

opportty to ear a reaSnablé profit. in excess of all fees and iraction costs.
from the Traactions. withut regu to ta benefits. . .

4.:
.;

the Based on the. ädvice of Alpha aD uppn hivesor's own indepenent evaluation, my advisory Investor'had an opportity to mae aD aggate grss mu in exces of
sum ofInvestor's net invesent in the Opon and the porton or

fee paid by Investor attributble to the Traactions ("Adviry Fee").
5.
6. 7.
Investor coninbutcd the memberhip mteres in SlvC to Coip to iIcro

Corp's capita. .
SMLC has not electe under Trea. Reg. §301.7701-3 to be classified as a

cotpot3uon. . . .
Investor has not hedged Investor's nsks with respect to the Options with Ban,

KTTC2783

M0253117

Case 1:05-cv-00999-MMS
\

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Page 14 of 38

\

MA-23-2001 13: 42

DlUESlFIED GR

12127523972 P. Ø4

~.I
8. hivesr ha not identified and Vlll not identi. any of the Options as being par

oía hedgig trantion wide Trea. Reg,§1.446-4. .'
cuncy.

persn's fUctiona
9. ,Investor, SMLLC. and Cot¡ each us the U.S. dollar as such

of 10. There exted no underdi agrment. obligatio~ or uranemcnt pUIuat
to which my oftb pares dcsc:'bd herein cotted to undee al or any

the uations des"bed he upn the happe of my other tnaction
ext to th atet th Incsr/ (an Corp ås trsfe ofJnvesr) and

Ban wer contrall obligåted to peromi under the Options ii accordace . with thei staed ter. .'
(orally or in wrti) to any obligatons of confidealty with respec to'the

11. Invèstot ha not enteed into a confd~tiality a.grement or otherise agee

Traactions.

12. Investor is an individua whose "'t home" ~ defied in Section 911( d)(3) of the Interal Revenue Code of 1986. as amened ("Code"), is the UtUted Stats.
13. !#vestor own 100% of

the issu and outsdig stock ofCoIp. .

Corp wa formed for the pnneipal purose of invesng in investments inludig
fied income' and foreign Cl.nc. either ditly or thugh derivatves, such as

the Options; Corp win in fact engae in suh trction; and Invesor does not intend to cease enga in such tracons thugh Corp for the fores,eeablc futue (i.e. at lea 12 month).,
Carp's activitieS,,'
15. .Investor aetively parcipat in the mangement of

16, At the tie of

the contrbution'oftbc OptionS to Corp, the Options were not

subject to any liabilties. and Coip ased no liabilties and distrbute or paid
no money or other propert to Investor in connection with such contrbution.

17. Gorp has elected to be trated as an S corporation for U.S. fcd income'ta

purses.
18. Investor has reviewed the decrtion of

Opinion and'such decription is acure and complete. an ther arc no penent
fac relatg to the Traactions tha.t have not bee set fort in such description.

,' . ,
v t: try yours;

the Trasactions as set fort in the

Keith Tucker

KTTC2784

TOTAL P. 04

M0253118

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 15 of 38

Unknown
From:
James Haber Uhaber~divgroup.com)
Tuesday, April

Sent:
To:

10, 2001 4:28 PM

R. J. Ruble

Subject:

Items to be discussed

1. Oiarie Bee email.

2. Timing of the completion of the following tax opkiions: 1. Tucker

2l1- - - - - - -. -. -. - - - - - - -. - - - - -. -' ~1

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EXHIBIT

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cket No. i
KTC2793

Case 1:05-cv-00999-MMS
:-

Document 10-13

Filed 01/13/2006

Page 16 of 38

.
950 Thir A-lut, Z3rd Roor

Ngw YOi1, NY 100

Pho: (212) 688-27 Fax (212) S87f1

THE DIVERSIFIED GROUP INCORPORATED

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To: SVJA) S~o\A~ .R ,:) MGvG bS-Q. i
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Phone
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Fro_ James Hab

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a urg i: For Revtew a Pie.. Cont i: P.. llep
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Ii EXHIBIT ,;

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EXHIBIT U Docket No. 12307-04

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KTTC2980

M0252612

Case 1:05-cv-00999-MMS
,.

Document 10-13

Filed 01/13/2006

Page 17 of 38

tlli d.. i"j

S Li ~o ( l,bo) Co

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December 31. 2000

Mr. Keth Tucker
do Waddell & Ree Finanial Inc.

6300 Lam Avenue Shawanee Mision, KS 66202
Re: Investment in Foreim Entity

Dear Mr, Tucker:

You eShareholdet') have requested our opinion regag cert Unite Staes federal that acui an option spred and other investing in a foreign entity
income tax consequences of

investment assets as descnbed more fuly below eTraactions'j.

L Summar of the Transactions
:c:------..7'

& Description of tbe Partes
the stock ofwhIch is owned by

IRedacted('1nvestor'') is a domestic coiporaon all of

L-_____=-_'

Shareholder. bivestor has elected to be treated as an S corporon for U.S. feder income ta
pwposes. The taable yea ofhivestor and the Shareholder is the calenda year.
. Cuberdale Investents Limited ("Cuberdalc") is an Irsh entity wholly owned by

Irsh individua invesrs who are wholly unlaed to Investor.

E.tr-~~'l~~._ . E' . . ' h 11 edb
R~~~~t~qLimted (''Ivesent ntity") is an IrhEntity on Ðe.eem'hr n, Cumberdale. entity W 0 yown y 2000. Investment
the stock of Cumbere acuired 100% of

rJo",ÕAAW'g,

~: -' _. _. -.-.. .
foreign curency, An option is a "Eurpem-style" option as opposed to an .LAmercan-stylc"

B. DÇ,CrlDtiOn of ODtioDS

f.~~e~a~j activies6~"" E- f' +largely ofin',,- in Bum-sJe dì opns OD .L ..'-6.5 i 1' consst \ +
Oi- _f'T Tnn7_I"T ._"'~I IU
701" ..

.: '§,

KTTC2981

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 18 of 38

BROWN & WOOD LLP

Mr. Keith Tucker Deceber 31. 20000 Page 3

model, the probabilty depends on the parcula foregn CUency imderlyì the option, the term of the option and the stre price. The prbabilty of a profi is roughy invere to the magntide
of that profit, wbIch is itself also a fucti of

the bid-asked spred.

C. Summar of ()tloo Trade

J.

~Hr~~~
S ì ,o:o.ao;ç,

~ ii.

~~ Ðiü.

cReplacement Options (collectively, the "Oter Legs") were sold or closed out.

iv. The Remning Options an

(...contiued
a stiild lecbJquc for pricing interest ra np agremnls."

NYUBI18I3,1I1

m..i
KTTC2982

on.nT Tn~?_QT_V_U

M0252614

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 19 of 38

BROWN" WOOD i.
Mr. Keith Tucker

December 31, 2000
Page 3

\~s~
the bid.ased sp

modeL. the probabilty depends on the parcul foign cuieny undelyú the opti the te
of

the option an the stke pnce. The probabil of a profit is rougbY invere to the magtu

of that profit, whch is itself alo a ñmeton of

c. Sammao of Ontloas Trades
These options trs can be su as follows:
'ODS (the

ii.

ii, ent Entity

acui new Options. one Long tion (the purhae of a

Eurp -style cash-settled digita put option havig 1S day ter. refence
numb 1184840) and one Short Option (th sale 0 Eurpea-stye ca-setted digi put option, havig an 18 day ter rcre number 1184833) (the

.. lacement Option"), to bale the . g Options.

iv. e Reaig Options and Replac

Legs") we sold or closed out.

(" ,çonti

..

a sudad tcçhiaueo for pr inert rate ca agree=IS:'

NYllili3981
,n.~T T"~?_OT_~JU
vOl '':

KTTC2983

M0252615

Case 1:05-cv-00999-MMS
.'

Document 10-13

Filed 01/13/2006

Page 20 of 38

. . ~ß' d -ilOl
BROWN & WOOD LLP

Mr. Keith Tucker

Decemba 31, 2000
Page 4

D.

Ac

on

Eii

On Decb . 200, bivesor purhaed 99% of the stock of Invesent Entity fr
Cumberland for $10,000, an amount tb. we have been advied equaed the fa maret value of

such stock.

On Mo~S9. 200"1, Investen Entity filed U.S. fede incoe 1a Form 8832, electig

to have Invesent Enty tr as a parp for U.S, f~er income ta purses. as of December 2~2000. ~

$366.~ l I o"' I"'.. J ~':i
n. Reureent8dOD5

In coniection with the Trations Investor paid an invesent advisory fee of

A. DlIeholder and Investor ReDresatatioDs

For purose of rendenng our opinion, Shaholder and Investor have represented as
folloWS:
1, Before enter into the t:action Shaeholder obtaed independet fiancial.

invesent and other advice in underakg a thorou¡h objectivc and subjective

analysS of factrs relevant. to detenng the sutailty of an invesen in the
Options and concluded th the investt was suitale as a bUSes matter,

2. Bas upon Sharholder's ow indeendent eValuation, Shaolders believed

th hivestor had a reasonable opportty to ea a reonle profit. in excess of
all fee an tranaction costs. ftm the TraactioDS, without reg to ta

benefits.
3. Shaeholders and Invesr each us the U,S. doll as such pern's f\ctional

curcy.

the Inter Revenue Code of
4. The "tax homc" as defied in Section 911(d)(3) of

1986. as amended ("Code"). of Sharholder is the United State,

the issued and outtadig stock of bivesor.
s. Shareholder own 1000.1 of

6. Each Shaa.1der actively parciates in tho manement ofInvesr's acvities.

N\ 1111359.,1

in.n- Tl"M"' r"'" .., l\":
CCl',.

KTTC2984

M0252616

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 21 of 38

CHCAGO

SIDLEY AUSTIN BROWN & WOOD LLP
ONE WORL TRA CEN
NEW YORK NEWYORl 1000557

BEI
HONG KONG

DALlA

TEHON 212839530
F ACSMlLE 2.12 839 5599

LO ANGEL

SA FRci
SETT
W.lctN. D.C.

www.sidley.com
FOUNDED 1866

SH
SIPORE
TOKYO

LONDN

June 28, 200 i

Mr. Keith Tucker c/o Waddell & Reed Financial, Inc. 6300 Lamar Avenue Shawanee Mission, KS 66202

e
Dear Mr. Tucker:
consequences of

Re: Investment in Foreien Entity

Brown & Wood LLP previously issued to you a more-likely-tlan-not opinon, dated
December 31, 2000, ("Lettet') regaring cerai United Staes federa income ta

investing in a foreign entity that acquire an option spread and other investment assets as descnbed more fully therein ("'Tranactions'').
We are unaware of any change in law, or interretation thereof, that would adversely the Transactions, since the date of

affect the United States federal incom'e ta treatment of

the Letter and through March 26,2001 (the date you filed your 2000 ta yea individual

income tax retu).

.'
r-KTTC2759

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EXHIBIT

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-04

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Page 22 of 38

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

copy OF TRASCRIPT
UNITED STATES DIS'lRICT COURT

NORTHERN DISTRICT OF CAl,It'ORNIA
SAN FRANC

-----"

1 seo Drv ISION
- - - - - - - x

SHASTA STHA'rEGIC INVESTMENT 'FUND, L1iC, and PRESIDIO GROWTH LLC (Tax Matters Partner),

petitioners
- t:gainst -

UNI~8D STATRS OF AMERICA, Re sponden L

~------------12:22 p.m.

- - - - - - - - x

86 Chambers street New York, New York
t;¡:i!Jí$tI

Au g \. S t 2 i 2 0 0 5

DEPOSITION of R.J.. RUBLE, a Non-IJarty

Witness, in the above-ant i tIed ac~iQn, held at

the above time and place, pursuant to

subpoen~, taken before Roll y Johnson, a
shorthand reporter and Notary PUblic wi ~hiii
and for the State of NRW York.
..

~ EXHIBIT c

~. .,;i'1~i-LEX =
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REPORTING SERVIC'E' INCo
..... Pr(lfet;~lonaLpo1't. ~inëc)9.. . . ._, --'

~XHIBIT X )ocket No. 12307-04

throughout New York and New Je~y . oR Toll Free 800-608-6085
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10/20/05 TH 14: 16 (TX/RX NO 9949)

10/20/05 14: 18. 1:202 616 0502

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14003

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 23 of 38

2
1
"

2
3
4

A P pea ran c e s:
LATHAM & WATKINS, ESQS, Attorneys for Petitioners
505 Mo n t g orne r y S t r e e t - Sui t e 20 0 0

5
6 7
8 9

San Francisco, California 94111 BY: JUSTIN RHOADES, ESQ. i
via tel ephone

UNlTED STATES DEPARTMENT OF JUSTICE Attorneys for Respondent
Judiciary Center Building 555 4th street NW, Room 8921 Washington, DC 20001 BY: STUART D. GIBSON, ESQ-

10

Tax Division

i1 i2
13
¡:!i:.~!f;:~i

i4 i5
16

UNITED STAfES DEPARTMENT OF JUSTICE Attorneys for Respondent

Tax Division

i7
18

Judiciary Center Building 555 4th street NW, Room 892 i Washington, DC 20001 BY: JENNI FER K. BROWN

19
7.

0

21 22 23

HOPFINGER S~ERN & ROSS, LLP Attorneys for R, J, Ruble 150 East 58th street New York! New york 10155 BY: JACK S. HOFFINGER, ESQ-

?4
('r)!i;.~;:;

25

LEX REPORTING SERVICE

800-608-6085

10/20/05 TH 14: 16 (TX/RX NO 9949)

10/20/05 14: 18

'B202 616 0502

DOJ TAX D iv

I4 004

1 3
3
4
.5

Case 1:05-cv-00999-MMS

Document 10-13

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Page 24 of 38

2 (Appearances. continues)
FRANKEL & ABRAS f ESQS. Co-Counsel for R.J. Ruble 230 park Avenue New York, New York 10169

6

BY; STUART ABRAS, ESQ.

7 8

9 ALSO PRESENT:
10 THOMAS PICOZZI, Videographer
11
12
1") .J
;;;lil;~r;~

14

15 16
17

18

19 20

21 22
23
24
,~l;i~¡irt 1\1;:, .~,.~

25

LEX REPORTING SERVICE

800-608-6085

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10/20/05 TH 14: 16 (TX/RX NO 99(9)

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14005

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Page 25 of 38
4

STIPULATIONS
TT 1S HEREBY STIPÚLATED AND AGREED
by and between the attorneys for the
respecti.ve parLies herein, that filing,

sealing and certification be and the
same are hereby waived-

T~ is FURTHER STIPULATED AND AGREED
that all obj ectioqs, except as to the

form of the question shall be reserved
La the time of the trial.

IT is FURTHER STipULATED AND AGREED
that the withi n deposition may be signed

and sworn to before any officer

authorized Lo administer an oath, with
Lhe same force and effect as if ~igned

and sworn to befC"Jre the Court.

LEX REPORTING SERVICE

800-608-6085
....M'..... _ ......".. M' .'OM"

............,...,.........,..... ........M.... . ....., . ',..........._..._...._. ..w', '" ....

10/20/05 TH 14: 16 (TX/RX NO 99(9)

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14006

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Page 26 of 38 5

i
2
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MR. GIBSON:

Please mark this

as Deposition Exhibit 1 and this
as Deposition Exhibit 2.

5
6
7 8

(Notice of deposi.tion of R,J,
Ruble and Subpoenn of R. J.
Ruble were rêspect i vely
marked as Deposition Exhibits
1 and 2, for identification,
as of this dûte,)
THE VIDEOGRAPHER:

9

10

11
12

Good

afternoon. My name is Thomas

13
14

piCQzzi.

,~~~1~1"~.

:r'm a vi.deograplie.c

~'!;;\;.." .~:::, .. i '~:: ;: _!~:::I "..\ .i;~;".~.

15 16
i 7

empioyed by Lex Reporting Service r 160 Broad~ay, i 4th Floor,
New York, New York 10038. Today
is Tuesday, AugusL 2, 2005- The. The name time is now 12 ;22 p.m..

18

19

of the acti.on is Shasta strategic
Investment Fund, LLC and Presidio

20
21 22

Growth LLC versuS the United
StaLes of America.

23
24

This is the deposiLlon of
R.,J. Ruble.

IL's being held at
" ':-.:r~:,~; (~ç:;~:,: .' /\,~

25

the offi ce~ of the U, s. Attorney's

LEX REPORTING SERVICE

800-608-6085

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10/20/05 TH 14: 16 (TX/RX NO 9949)

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1 2
..,

6

office, 86 Chambei;s Street,

.)

New York, New York.

4

This videotaped depos i tion is
being recorded on DV at the normal

5
6

speed.
Would each of the attorneys
please state your names?

7 8

9

MS. BROWN; Jennifer Brown
for the United States.

10
11 12
13

MR. GIBSON ~ stuart Gibson
for the United States.

MR. HOFFINGER: Jack
Hoffinger. for Mr. Ruble-

14 15

MR. ABRAS: stuart Abrams
for Mr. Rub

16
17

1 e.

MR. RHOADES: This is Justin
Rhoades for Petitioner, Presidio

18
i 9

Growth.
THE VIDEOGRAPHER: wiii "the court reporter please swear in the

20 21

22

witness.

23
24
":.::.-" . ~
,-''';.''::~

"':';;~~:l~~f~:~; 2 5 -,.,...:.-

LEX REPORTING SERVICE

800-608-6085

10/20/05 TH 14: 16 (TX/RX NO 99(9)

10/20/05 14: 20

'6202 616 0502

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~UUö

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Page 28 of 38

i
2

7

R. J.

RUB LEi t h ê wi. t: n e g 5 her e i 11 , 1'1 a v in g

3 first been duly sworn by a Notary 4 Public of the State of New York, was 5 examined and testified as follows:
6 EXAMINATION BY 7 MR, GIBSON:
8

Q

state your name for the record, .
R. J. Rub 1 e .

9 please.
10
J 1.

A
Q

State your address for the record,
,'F-7;~

12 please.
13
A

65 Duck pond Road, Glen Cove,

;.;;t~;i:~~; i':;;' .. "'''.''.'-'

14 New York 11512.

is
16

MR. RHOADES:

Can you guys

movê the speaker a little closer

l7
18

to the witness? It waS sort óf
hard to hear Lhat.

19
20 21

MR. GIBSON: Mr. Hoffinger, I
beli.eve that yOlJ h.ad a statemenL

that you wanted to make at the
beg inning.

22 23
24

MR. HOFFINGER: Yes.

On
:'~! ~~~;~

Ju 1 Y 13th I sent a letter to

25

Ms, Brown confirming our recent

LEX REPORTING SERVICE

800-608-6085

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~vvv
Page 29 of 38

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

1
2

Rub 1 e

8

conversations in which I advised
her that Mr. Ruble would be
aSS8rting his constitutional

3
4

5 6
7
8 9

rights, including the 5th
Am8ndment Ilo'L to te::tify, and

tha t's what he'll be doing here
t.oday.
MR. GIBSON:

Okay.

'lhank

10
i 1

you.
Q

Mr, Ruble, I'm going to show you

12 what we've marked for ~- marked as Exhibit 1.
13
:i¡~~;;~~
.r:,..__" The court reporter has'

marked this.

14 T. ask you if you have seen that
15 document before?
16
A

1 've been i.nstructed by my counsel

17 tu assert my constitution~l rights, inclti~ing 18 the 5th amendment, not to testify.
19
Q

You're not going to answer as to

20 whether you have seen the notice of deposition
2 i by which you i re appearing here today?

22

A
Q

Same aris wer.

23

I i m going to show you what we i ve

24 marked as Deposition Exhibit 2, which is ù
:;:m1:~~; 2 5

copy of the subpoena that Mr. Hoffinger

LEX REPORTING SERVICE

800-608-6085

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Page 30 of 38
9
~1:

1

Ruble

2 accepted service of on your behalf for you to

3 appear today.
4

MR. HOFFINGER: We i 11 concede
for the r.ecord that I received the

5
6 7
o

subpoena and that he i S appearing
pursuant to subpoena.

MR. GIBSON: Okûy,
Q

9

Do you recogni ze t hat document,

10 Mr. Ruble?
11
12 13
A
Q

Same answer_
Have you brought with you any of
:::~£~¡:

the documents that have -- that are called for

14 production in the ùttachmcnt to the subpoena?
1.5
A

S.ame answer-

16

Q

Okay. What is your occupationf
Same answerAre you -- have you attended

17 Mr. Ruble?
18
19
A
Q

20 college?
21
22
A Q

Same answer.
Hove you attended law school?

23
21

A
Q

Same answer.
Are you admitted to practice law
:!i::ï¥f ;:1:~U~

25

in any state in the United states?

LEX REPORTING SERVICE

800-608-6085

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,. ..

1 2

Ruble
A
Q

10

SamA answer.

3

~rc you admitted to practice law

4 tn any Federal court in the United States?
5 6

A
Q

Same answer.

Please tel.). me about your -- your
were you ever Law Firm of Brown and Wood?
Law

7
8

did you employed by the
when
A

first --

9

10 11
12

answer. Were yon ever emp 1 oyed by the Q :Firm Sidley Austin Brown and Wood?
Same
A
Q

Same a.nswer.
Have you ever been fired from any

13

14 job?
15
16
A
Q

Same answer.
Have you ever res igned from a job

l7 in anticipation of being ~ired or terminated? Same answer_ A 18
19
Q

Are you currently employed by

20 Sidley Austin Brown and Wood?
21
22
A
Q

Same answer_
Where are yon cnrrentl y employed?

23
24
,.,,"""
t'::::::::!:':).

A

Same answer.

Q Have you ever had your 1 i cenSA to
practice law ~cvoked?

:~::::::-9 2 5

LEX REPORTING SERVICE

800-608-6085

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14012

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Page 32 of 38

1

Rub 1 e
A
Q

11

2
3

Same answer.
Have you ever been disciplined by

4 a state licensing authori ty?
5
6

II
Q

Same answer.

Have there been any complaints

7 filed against you before any state law

R licensing authority?
9

A
Q

Same answer.
Are ~here any disciplinary cha rges

10

11 pending against you at this time before any 12 st.~te law licen~ing authorit.y1
l\
14
Q

Same ans wcr .

Have you
Have
who

ever been sued?

15
i 6
i 7

A
Q

Same answer _

individual
A
Q

ever been sued by any purchas ad or was -- or
yOLl

18 participated in ~ BLIPS transaction?
19 20

Same answerHas judgment been entered against

2 i you in any action in which you have been sued?
22
A
Q

Same aIlS we.r: -

23

Has judgment been entered in your
.i':'.:.;'\~\r \;'I:::~;\W'_1 ". ,-¡ 'l.:~:,:f.;'"

24 favor in any acLlon in which yOLl h.ave been

25

sued?
LEX REPORTING SERVICE

800-608-6085

10/20/05 TH 14: 16 (TX/RX NO 9949)

10/20/05 14: 22

Case 1:05-cv-00999-MMS

"6202 616 0502

DOJ TAX DIV

~013
Page 33 of 38

Document 10-13

Filed 01/13/2006

1 2

Rub 1 e
A
Q

12

Same answer.
Have you ever been su~d by a

3

4 former client who was not involved with the

5 BLIPS transactions?
6
A.

Same answer.
Have you ~ver had your deposition

7

Q

8 taken before?
9

A
Q

Sam e ô.llS wer .
Wha t did you do to prepare for

10

11 this deposition today?
12
:....:.;:.:.;..:;.. '::;::~~j;~W'

A
Q

Same answer_
Have you reviewed any documents to

::::~:~,b 1 3
i 1

prepare for your deposition
A

to da y?

15 16
17

18
i 9

answer. Have you spoken with anybody Q outsid~ Mr_ Rof-finger and ;M.r , Abrams in preparation for your deposition today?
Same
A
Q

Same answet'.
Have you reviewed any documents

20

2 i for the pu rpose ~f refreshing your

22 recollection in order to testify here today?
23
24
...:;:~~;:~l' ,.'\.
..:r;~~~t:(~;:¡~ 2 5
.:..,'.-'

A
Q

Same answer.
Have you given any written

statement to anyone regarding the BLIPS

LEX REPORTING SERVICE

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10/20/05 TH 14: 16 (TX/RX NO 9949)

10/20/05 14: 22

Case 1:05-cv-00999-MMS

"a202 616 0502

DOJ TAX DIV

I4 014

Document 10-13

Filed 01/13/2006

Page 34 of 38

i
2 transact ions?
~

Rub le

13

A
Q

4

Same answer. Have you given any oral testj.mony

5 or oral statement to anyone regarding the

6 BLIPS transa~ti ons?
7
8

A
Q

Same ans wer .

Have you made a statement on

9 videotape with respect to the BLIPS

10 transacLlons? Same answer. A 11
12 13
Q

Have you made a -- any recorded
~;;~~~I~~;~~ .:~:~:. ./~ t .'T .~.,' i.

audio statements with respect to the BLIPS

14 transactionS?
15
16
i 7

A

Same answer.
MR. GIBSON: Let's mark this

Exhibit 3.
(Letter dated December 31,

1 B

19 20
21
22

2000 to Trinity Ventures, LLC
DD Brown and Wood 1 LLP

letterhead was marked as

Depo~ition Exhibit 3, for
.identification, as of this
da Le . )
...~~:;:T:~;\+:

23
24
/. 5
Q

AS soon as we get copies for the

Ú:I:ir:Ebi,i

'¡: ;~~~~~~~l''

LEX REPORTING SERVICE

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10/20/05 TH 14: 16 (TX/RX NO 99491

10/20/05 14: 22

U'202 616 0502

DOJ TAX DIV

14015

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 35 of 38

1

Rub le

14

2 witness's lawyers i I will be handing you,
3 Mr. Ruble, a copy of wha t we have marked a~
4

Deposition Exhibit 3.

'l'his is a -FO" the record

5
6

MR. GIBSON:
Exhibit. 3 -Q

7

And I' 11 give you your own copy,

8 Mr, Ruble.
9

A

Thank you.
MR. GIBSON:
Deposi tion

10

11
12

Exhibit 3 is aIel ter dated
December 31, 2000 to Trinity
VenLures, LLC on Rrown and Wood,

13
1. 4

LLP letterhead which is attached
as 'an exbibi t to the peti tio.n for

15 16
17
18

readjustment of final partnership
administrative adjustments Ln" the

Olympus Strategic Investment Fund case which is one of the sìx

19
20
2 i

consolidated cases here.
Q

Mr. Ruble, have you ever seen this

22 document before? Same answer. A 23
24
Q

Did you have any role in drafting

25th is document?
LEX REPORTING SERVICE

800-608-6085

10/20/05 TH 14: 16 (TX/RX NO 9949)

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'5202 616 0502

DOJ TAX DIV

I4 016

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 36 of 38

1 2
3
.A

Ruble Same answer.
Do you know whQ drafted this

15

Q

4 document?
5 6

A
Q

Same answer,
If you look, Mr. Ruble, on the

7 bottom of the second pag e, you l 1 I see a
8 little, it looks, like a little document
9

control type of a number on the bol lom.

It

10 says NYLIBl-809888-1,

11 Are you familiar w~th the document
12 numbering systèm at Brown and Wood in December
13
1'4

of 2000?
A
Q

...."".
~¡;~f~;~:~t~~ ....:;;üi~,iJ/

Same answer.
Whût kind of word processing

15

10 system wa s ; n use at Rrown and Wood during

17 December of 2000?
18
A
Q

Same answer.
Do you know who at Brown and Wood

19

20 was actually responsible for typing up each of
2 i the -- this opinion letter in Olympus?
22
A

Same answer.
Was there a form or a prototype
".:. ;; :: =:: J~, "~;;;¡~;tW2l

23

Q

24 opinion letter drafted before this particular
25
documcn~, Exhlbl t 3, was prepared?

LEX REPORTING SERVICE

800-608-6085

:::~:::: :;::;;::;~;:::~ii;':;.;;0:;i~::;:~;~~¡:.~~.:/:~:.(;,~~:d~::~;:::;::~:;~:;:~:;::;.:~::s~:~ ,::.::::~;7:;.r::~?:::.~:: ?:~::;;J ~:. ~ i..~::?""=,":¡':;'" ,. :'.;:. ;:. '. .:':. ~: ::"~":'.~:':~:'~'~::.-:~~:. ...,.' '" ," ;.:~..~~..,..,,-~. "~::::::"::::: :::..;'. :;:",:;;:;;.: :"..

10/20/05 TH 14: 16 (TX/RX NO 9949 J

10/20/05 14: 23

'6202 616 0502

DOJ TAX DIV

l4 01 ï

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 37 of 38

i
.~'ltì,:.".."i ...)ctHI..... ~.

Ruble
A
Q

16

r.~l ~4d""

2
3

Same answer, Do you know what the purpos e of
Same answer.
Did you collaborate with anyone

4 this Exhibit 3 was, the purpose of the letter?
5
6

A
Q

7 else ~t Brown and Wood on thi~ 1 etter?
8

A
Q

Same answer_
Did you collaborate with anyone at

9

10 KPMG about this letter?
11
12
i";:,:" '~:'~:. ~ . . :..-..-~t :~~~;;;;~.¡.:~/ .....,.

A
Q

Same answer.

Did you collaborate wi th anyone at

13
14

Presidio about this letter?

A Same answer.
Q

15

Were -- was there a template into

16 which specific information about the

17 particular client was pasted Into to create'

18 this letter?
i 9

A
Q

Same answer,
Do you know who actually did put

20

21 the client's specific information into this

22 letter?
23
24
'., .....:., .: ~r~'~:..,i¡~.l

A
Q

'. Same answer.
How did you learn of ihdividual

25

clients who were seeking opinion letters about

LEX REPORTING SERVICE

800-608-6085

10/20/05 TH 14: 16 (TX/RX NO 9949)

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'6202 616 0502

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14018

Case 1:05-cv-00999-MMS

Document 10-13

Filed 01/13/2006

Page 38 of 38

1

Ruble
A

17

2 the BLIPS transactions?
3
4

Same answer.
MR, GIBSON:
Exhibi t 4.

Let i S mark this

5
6
7 8

(Letter on Brown and Wood
letter.head dated December 31,

1999 addressed to Hoko
Ventures, LLC was ma ï ked as
Depos i ti on Exhibit 4, for'

9

10
11
12

identificaLlon, as of this
date. )

13
14

Q I 'm q oinq to hand you wlia t we've
.marked for identification as Exh~bit 4.
MR. GIBSON:

...;:.~;t':;í.'\ ,.",..;,;,',4.:" .; i~::,:'.i;".:_.~l ':~.'" '~::~t-

15 16
17

For Lhe record

this is a document -- this is a

letter on the Brown and Wood
letterhead dated DeceMber 3 i,

18

19 20 21 22
23

1999, addre~sed to Hoko ventures,

LLC.

This was attached as an

exhibit to the petition that was

filed on behalf of the Princeton

StraLegic Inveg~ment Fund, which
is one of the six consolidated
:f~¡~:'i:;I':~Í1

24

25

cases in which we're taking this

.; ~~E;~¡:¡'~~~~~

LEX REPORTING SERVICE

800-608-6085

.: :'~:'~::';'T:;:::::::~;7:::::::""~:~:' ;::~,~.::::~',::.i:,-;:1;~::~::~!::!;:'!'''''':~~;'''~7::;.::. :~:::\:;::;~;..:::.~::.:.::~..;'.~;.;:::'~:::"':' ~:::. .': : . ,.;. :'":'~':''' 'M:' '::.:.;'~-:~. -:::'~::MM:-: -: .~-::~.;.M-:;';i:.. .::; ;"~'M'"~";,,,,,: ~:.~.M .~.~ : ::," ~";'.:" : .'::; - H::_M.: :'.:.-

..' .:.:..,,,:,,.,,,:,:,,.,,,,.,,,,,,,,,~,,.,,..,.,"""" "'.. ".,.,..".,...."...., ..... .... ". . 10/20/05 TH 14: 16 (TX/RX NO 9949)