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of losses from Arbitrage Management partnerships. The deductions
regarding 1978 through 1983 played a role in the settlement
negotiations.
B. Arbitrage Management Negotiators
Theodore Kletnick, an attorney in respondent's North Atlantic
Regional Counsel Office, served as respondent's lead counsel in
Arbitrage Management settlement negotiations. Howard Berman, an
attorney in respondent's New York City District Counsel Office,
assisted Mr. Kletnick in Arbitrage Management settlement
negotiations from 1987 through 1990.
On January 15, 1987, this Court held a pretrial conference
with respect to Arbitrage Management cases. At that conference,
the Court designated John S. Nolan, Barbara T. Kaplan, and Hugh
Janow to serve as lead counsel for Arbitrage Management partners in
subsequent Arbitrage Management settlement negotiations.
C. Arbitrage Management Negotiations
The Court assigned the negotiators the task of either
negotiating a settlement for Arbitrage Management cases or
selecting one or more Arbitrage Management test cases for
litigation. Negotiations began in the spring of 1987.
D. Settlement Agreement
On January 6, 1988, the negotiators informed the Court that
they had reached a "tentative settlement agreement". The
negotiators advised the Court that a few of the individual partners
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