1 ALAN W. SPARER (No. 104921) MARC HABER (No. 192981) 2...

1 ALAN W. SPARER (No. 104921)MARC HABER (No. 192981)

2 JAMES S. NABWANGU (No. 236601)SPARER LAW GROUP

3 100 Pine Street, 33rd FloorSan Francisco, California 94111-5128

4 Telephone: 415/217-7300Facsimile: 415/217-7307

5 asnarer(aisnarerlaw.comnt-ld spared av, .com

6 jnabwan gu(a) sparerlaw. corn

7 Attorneys for Plaintiffs ofRIVERA INVESTOR GROUP

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9 UNITED STATES DISTRICT COURT

10 NORTHERN DISTRICT OF CALIFORNIA

11 SAN FRANCISCO DIVISION

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13 ROBERT RIVERA, on Behalf of Himself Case No. C 09-0567 SIand all Others Similarly Situated,

14 Action Filed: February 6, 2009Plaintiff,

15 DECLARATION OF ALAN W. SPARER IN

16V. SUPPORT OF MOTION TO

OPPENHEIMER CALIFORNIA CONSOLIDATE MOTION TO APPOINT

17 MUNICIPAL FUND, et al., THE RIVERA INVESTOR GROUP ASLEAD PLAINTIFF AND TO APPROVE

18 Defendants. PROPOSED LEAD PLAINTIFF'SSELECTION OF COUNSEL

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20Date: May 29, 2009Time: 9:00 a.m.

21 Dept: Courtroom 10, 19th FloorJudge: Hon. Susan Illston

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23 FRANK TACKMANN, Individually and Case No. C 09-1184 SIon Behalf of All Others Similarly Situated,

24Plaintiff,

25v.

26OPPENHEIMERFUNDS, INC., et al.,

27Defendants.

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DEC OF A. SPARER ISO MTN TO CONSOL, APPOINT RIVERA INV GRP NO. C 09-0567 SIAS LEAD PLF & TO APPRVE PRPSD SELECTN OF COUNSEL

1STEPHEN LOWE, Individually and on Case No. C 09-1243 SI

2 Behalf of All Others Similarly Situated,

3 Plaintiff,

4 v.

5 OPPENHEIMER CALIFORNIAMUNICIPAL FUND, et al.,

6Defendants.

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8 KENNETH MILHEM, Individually and on Case No. C 09-1414 VRWBehalf of All Others Similarly Situated,

9Plaintiff,

10v.

11OPPENHEIMER CALIFORNIA

12 MUNICIPAL FUND, et al.,

13 Defendants.

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DEC OF A. SPARER ISO MTN TO CONSOL, APPOINT RIVERA INV NO. C 09-0567S1GRP AS LEAD PLF & TO APPRVE PRPSD SELECTN OF COUNSEL

1 I, Alan W. Sparer, declare as follows:

2 1. I am an attorney duly licensed to practice before this Court and courts of the State

3 of California. I am an attorney at Sparer Law Group, proposed Lead Counsel for the Rivera

4 Investor Group. I submit this Declaration in support of Motion to Consolidate, to Appoint the

5 Rivera Investor Group as Lead Counsel and to Approve Proposed Lead Plaintiff's Selection of

6 Counsel.

7 2. Attached hereto as Exhibit A is a true and correct copy of the Certifications of the

8 members of the Rivera Investor Group with detailed listings of each member's transactions in the

9 Oppenheimer California Municipal Fund.

10 3. Attached hereto as Exhibit B is a true and correct copy of the Published Notice of

11 the Complaint in Rivera v. Oppenheimer California Municipal Fund, et al., Case No. C 09-0567

12 SI, issued via Business Wire on February 18, 2009, filed with this Court on April 16, 2009.

13 4. Attached hereto as Exhibit C is a true and correct copy of the Declaration of Jim

14 Feuille in Support of Motion to Consolidate, to Appoint Lead Plaintiff and to Approve Proposed

15 Lead Plaintiff's Selection of Counsel.

16 5. Attached hereto as Exhibit D is a true and correct copy of the Declaration of Peter

17 Fischler in Support of Motion to Consolidate, to Appoint Lead Plaintiff and to Approve Proposed


19 6. Attached hereto as Exhibit E is a true and correct copy of the Declaration of Sam

20 Lindsay in Support of Motion to Consolidate, to Appoint Lead Plaintiff and to Approve Proposed


22 7. Attached hereto as Exhibit F is a true and correct copy of the Declaration of

23 Robert Rivera in Support of Motion to Consolidate, to Appoint Lead Plaintiff and to Approve

24 Proposed Lead Plaintiff's Selection of Counsel.

25 8. Attached hereto as Exhibit G is a true and correct copy of the Declaration of Jerry

26 Siegel in Support of Motion to Consolidate, to Appoint Lead Plaintiff and to Approve Proposed


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-1-DEC OF A. SPARER ISO MTN TO CONSOL, APPOINT RIVERA INV NO. C 09 -0567 SGRP AS LEAD PLF & TO APPRVE PRPSD SELECTN OF COUNSEL

1 9. Attached hereto as Exhibit H is a true and correct copy of the Declaration of

2 Adam Spice in Support of Motion to Consolidate, to Appoint Lead Plaintiff and to Approve

3 Proposed Lead Plaintiff's Selection of Counsel.

4 10. Attached hereto as Exhibit I is a true and correct copy of the Sparer Law Group's

5 firm resume showing litigation experience of its attorneys that is relevant to appointment as lead

6 counsel.

7 I declare, under penalty of perjury that the foregoing is true and correct to the best of my

8 knowledge and that this declaration was executed on April 17, 2009 in San Francisco, California.

9

10ALAN W. SPARER

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-2- DEC OF A. SPARER ISO MTN TO CONSOL, APPOINT RIVERA INV NO C 09 -0567 SI

GRP AS LEAD PLF & TO APPRVE PRPSD SELECTN OF COUNSEL

EXHIBIT A

. ,

CERI/FICATION OF JIM FEUILLEPURSUANT TO FEDERAL SECURITIES LAWS

• I, Jim Feuille a ("Plaintiff"), declare, as to the claims asserted, that:

1. Plaintiff has reviewed the Corrected First Amended Complaint (the "Complaint")and has authorized or ratified the filing of the Complaint on his behalf

2. Plaintiff did not purchase any securities of Oppenheimer Califomia MunicipalFund at the direction of counsel or hi order to participate in this private action,

3. Plaintiff is willing to serve as a representative party on behalf of the class,including providing testimony at deposition and trial, if necessary.

4. The following includes all of Plaintiff s transactions in Oppenheimer CaliforniaMunicipal Fund stock/securities bought or held during the class period specifiedin the Complaint:

Transaction Date # of SH Price/Share Total

Buy OPCAX 01/01/2008 150,471.5943 $ 10.55 $1,587,475.32

Sell OPCAX 9/19/2008 150,471.5943 $ 8.47 31,274,494.40

5. Plaintiff's total loss of principal during the class period is $312,980.92. This doesnot include losses from the purchase and sale of 5,318,1637 additional shares •acquired by reinvestment of dividends in 2008, Precise loss figures for theseshares are not currently available.

6. During the three years prior to the date of this Certification, Plaintiff has neversought to serve or served as a representative party on behalf of a class involvingalleged violation of the federal securities laws.

7, Plaintiff will not accept any payment for serving as a representative party onbehalf of the class beyond Plaintiffs pro rata share of any recovery, except suchreasonable costs and expenses (including lost wages) directly relating to therepresentation of the class and such other' amounts as ordered or approved by the -Court.

I declare under penalty of perjury that the foregoing is true and correct. Executedthis 11- day of April 2009, at .Ict,n F MS au . •

Teal ID

anaaaraincwijny

CERTIFICATION OF PETER FISCHLERPURSUANT TO FEDERAL SECURITIES LAWS

I, Peter Fischler a ("Plaintiff"), declare, as to the claims asserted, that:

1. Plaintiff has reviewed the Corrected First Amended Complaint (the "Complaint")and has authorized or ratified the filing of the Complaint on his behalf.

2. Plaintiff did not purchase any securities of Oppenheimer California MunicipalFund at the direction of counsel or in order to participate in this private action.


4. The following includes all of Plaintiff's transactions in Oppenheimer CaliforniaMunicipal Fund stock/securities bought or held during the class period specifiedin the Complaint:

Transaction Date # of Sh Price/Sh Total

Buy OPCAX 08/24/2007 9,469.697 $10.56 $ 100,000.00Buy OPCAX 02/05/2007 90,351.000 $11.68 $ 1,055,299.68Buy OPCAX 02/05/2007 45,546.359 311.68 $ 531,981.48Buy OPCAX 02/05/2007 35,335.518 311.68 $ 412.718.84Total Purchases 180,702.574 $ 2,100,000.00

Sell OPCAX 02/22/2008 90,351.000 39.78 $ 883,667.94Sell OPCAX 02/25/2008 45,546.359 39.70 $ 441,904.44Sell OPCAX 02/26/2008 9,469.697 39.63 $ 91,213.81Sell OPCAX 02/26/2008 35,335.518 39.63 $ 340 357.99Total Sales 180,702.574 $ 1,757,144.18

5. Plaintiff's total loss of principal during the class period is $342,855.82.


7. Plaintiff will not accept any payment for serving as a representative party onbehalf of the class beyond Plaintiff's pro rata share of any recovery, except suchreasonable costs and expenses (including lost wages) directly relating to the

representation of the class and such other amounts as ordered or approved by theCourt.

I declare under penalty of perjury that the foregoing is true and correct. Executedthis day of April 2009, at 1.-•° A-ru G f-LES

(City) (State)

Peter Fiscaler

•

•

CERIIFICATION OF SAM LINDSAYPURSUANT TO FEDERAL SECURITIES LAWS

I, Sam Lindsay a ("Plaintiff"), declare, as to the claims asserted, that:


2. Plaintiff did not purchase any securities of Oppenheimer California MunicipalFund at the direction of counsel or in order to participate in this private action.

3. Pipintiff is willing to serve as a representative party on behalf of the class.including providing testimony at deposition and trial, if necessary.

4. The following includes all of Plaintiff's transactions in Oppenheimer CaliforniaMunicipal Fund stock/securities bought or held during the class period specifiedin the Complaint:

Transaction Date # of SFI Price/Share Total

Buy OPCAX 08115/2005 261,324.0418 $11.48 $3,000,000

5. Plaintiff's total loss of principal during the class period is S1,337,979.09.

6. In March 2009, Plaintiff sought to serve as a representative party on behalf of aclass alleging violation of the federal securities laws relating to preferred seriesstock of Royal Bank of Scotland Group PLC. His group was not selected as leadplaintiff. Other than this one instance, during the three years prior to the date ofthis Certification, Plaintiff bas never sought to serve or served as a representativeparty on behalf of a class involving Rileged violation of the federal securities laws.

7. Plaintiff will not accept any payment for serving as a representative party onbehalf of the class beyond Plaintiff s pro rata share of any recovery, except suchreasonable costs and expenses (thcluding lost wages) directly relating to therepresentation of the class and such other amounts as ordered or approved by theCourt

I declare under penalty of perjury that the foregoing is true and correct Executed

this 1 G4::= day of April 2009, at NEW PoW /3 C-41 , f .

(City) ( tate)

_A..e Lindsay

Case 3:09-cv-00567-SI Document 6-2 Filed 03/20/2009 Page 1 of 1. „ • . • - • • - - . .

•CERTIFICATION OF ROliERTIUYERAi(lianied 'Plaintiff)

PURSIANT TOIFEDERAL SEP:RULES LAWS". • • • -• ,

Robert Rivem . a "Plaintiff '), deelaros; ts toithe Claims .Asserted, that:

I s Plaintiff has reviewed theTirstckniencled Crininlaint (the "Conipla bit") .and hasatitherrzed the filing a thc Cc/111141rd on his behalf,

. •• . • ...„ .. .• . . .2. Plaintiff did not purchase•anysecaritiessef Oppenhciincr•California. Municipal

Fund at the direction of counsel brJn 'order lo pirtibipate in this private action.• .

Plaintiff is willing to serveas.0 represontative.patty, on behalf: of the class,including providing:testintony- .at .deposition flicl . trial, if necessary,

4, The following 010'1 :Tidal ail transactions in Oppenheimer CaliforniaMunicipal Fund stockisecurities durin,g the chiS,s period specified iti theComplaint; „ . „ • • ' • . • „ . •

• .•Share Type, ••• Total

Buy OFCAX- ' $500,000

• Buy ....... i .$104,474 •

Sell OPCA.X .. , :iOetober i 16, -2008 $6,91 ' •••••• •-• . • $292,822 •1 j

1•7•• 1...1:4; : ' it•••• •••:•.;•,:•,'t1.,••• ••• • '

S!1 OCACX Octaititifi; $61,47!

. . •• . ..„

5. My total 1°38 otprincipal,W.as-$250 811 -i.;•;;.; • . : , : •

6, During the tluce-siTeariipirirt fai itlididiatoiofithis : certification;iflaintiff has ,neversought to serve iorsei-ved•as ia'represorttattive partY On behalf of .a class involvingalleged violation.of the federal secu •rities laWsi. •• ., •••,.. • I:

7, Plaintiff Will not 'ace* any Pi‘Yineinitifor Sei;\ii. ingi ag.ietrePreieniative party Dn

behalf of the claSs beyond pre rata shre f any recovery, except suichreasonable costsiand expenSeSi(inelding-lesi'.-WageS)•directlytelatirig to therepresentation of the class and sacli otherarnOnnts as ordered or approved by theCourt.' ,ii T 1 ,

I declare 1 .111.4T penalty of pet ury.thattpci-foregOing is caul icierreCt i, :Executed

this ./1-144 day ofFebnlary,2008; at : ii2,4 • •:— • • (State).. • • •

: Mar IT- rt Rivera• • .. .

. • frt.; •

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CERTIFICATION OF JERRY SIEGELPURSUANT TO FEDERAL SECURITIES LAWS

I, Jerry Siegel a ("Plaintiff"), declare, as to the claims asserted, that:1

1. Plaintiff has reviewed the Corrected First Amended Complaint (the "Complaint")and has authorized or ratified the filing of the Complaint on his behalf'.

2 Plaintiff did not purchase any securities of Oppenheimer California MunicipalFund at the direction of counsel or in order to participate in this private action.


4. The following includes all of Plaintiffs transactions in Oppenheimer CalifomiaMunicipal Fund stock/securities bought or held during the class period specifiedin the Complaint:

Transaction Date ti of Sh Price/Sh Total

Buy OPCAX 10/30/2006 85,689.803 $11.67 $1,000,000.00Buy OPCAX 11/22/2006 234.213 $11.76 $ 2,754.34Buy OPCAX 12/29/2006 326.638 $11.73 $ 3,831.46Buy OPCAX 1/24/2007 332.017 $11.69 $ 3,881.27Buy OPCAX 2/20/2007 331.867 $11.74 $ 3,896.11Buy OPCAX 3/28/2007 332.864 $11.75 $ 3,911.15Buy OPCAX 4/25/2007 240.99 $11.73 $ 2,826.81Buy OPCAX 5/23/2007 242.899 $11.67 $ 2,834.63Buy OPCAX 6/27/2007 247.82 $11.47 $ 2,842.49Buy OPCAX 7/25/2007 345.167 $11.47 $ 3,959.06Buy OPCAX 8/29/2007 373.552 $10.64 $ 3.974.59

Total Purchases 88,697.830 $1,034,711.91

5. Plaintiff s total loss of principal during the class period is $470,593.71.


7. Plaintiff will not accept any payment for serving as a representative party onbehalf of the class beyond Plaintiff's pro rata share of any recovery, except suchreasonable costs and expenses (including lost wages) directly relating to the

representation of the class and such other amounts as ordered or approved by theCourt

declare under penalty of peajary thaVihe foregping is true anti ccoTtQt. Execnied

this k "day ofApril 2009, at ,C=5c1,,, \ c2,04 ak \ 1+ 0-1-1--AO01

(City) State)

ita"

CERTIFICATION OF ADAM SPICEPURSUANT TO FEDERAL SECURITIES LAWS I

I, Adam Spice a ("Plaintiff'), declare, as to the claims asserted, that:


,2. Plaintiff did not purchase any securities of Oppenheimer California Municipal

Fund at the direction of counsel or in order to participate in this private action.


4. The following includes all of Plaintiffs transactions in Oppenheimer CaliforniaMunicipal Fund stock/securities bought or held during the class period specifiedin the Complaint:

Transaction Date # of Sh Price/Sh Total,

Buy OPCAX 10/10/2006 86,281.277 11.59 $1,000,000.00Buy OPCAX 10/25/2006 107.684 11.59002 $1,248.06Buy OPCAX 11/22/2006 330.577 11.75998 $3,887.58Buy OPCAX 12/29/2006 329.664 11.73 $3,866.96Buy OPCAX 1/2/2007 3.043 11.72856 $35.69Buy OPCAX 1/24/2007 335.104 11.68998 $3,917.36Buy OPCAX 2/21/2007 334.960 11.74 $3,932.43Buy OPCAX 3/28/2007 335.949 11.75 $3,947.40 ,

IBuy OPCAX 4/25/2007 337.822 11.72999 $3,962.65 1,Buy OPCAX 5/23/2007 340.856 11.67 $3,977.79Buy OPCAX 6/27/2007 348.142 11.47 $3,993.19Buy OPCAX 7/25/2007 349.509 11.47 $4,008.87Buy OPCAX 8/29/2007 378.256 10.63999 $4,024.64Buy OPCAX 9/26/2007 372.840 10.84001 $4,041.59 ,Buy OPCAX 10/24/2007 370.968 10.94 $4,058.39Buy OPCAX 11/28/2007 385.534 10.56999 $4,075.09Buy OPCAX 12/31/2007 395.781 10.34001 $4,092.38Buy OPCAX 1/23/2008 390.332 10.53001 $4,110.20Buy OPCAX 2/27/2008 435.903 9.68 $4,219.54Buy OPCAX 3/26/2008 451.503 9.38999 $4,239.61Buy OPCAX 4/23/2008 447.988 9.51001 $4,260.37Buy OPCAX 5/28/2008 449.670 9.52 $4,280.86Buy OPCAX 6/25/2008 469.092 9.16999 $4,301.57Buy OPCAX 7/23/2008 491.346 8.99 $4,417.20

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Buy OPCAX 8/27/2008 487.411 9.10999 $4,440.31Buy OPCAX 9/24/2008 531.963 8.39 $4,463.17Buy OPCAX 10/29/2008 672.894 6.67 $4,488.20Buy OPCAX 11/26/2008 709.534 6.37 $4,519.73

Total Purchases 96,875.602 $1,104,810.82

5. Plaintiff's total lass of principal during the class period is $488,682.

6. During the three years prior to the date of this Certification, Plaintiffhas neversought to serve or served as a representative party on behalf of a class involvingalleged violation of the federal securities laws.

7. Plaintiff will not accept any payment for serving as a representative party onbehalf of the class beyond Plaintiff's pro rata share of any recovery, except suchreasonable costs and expenses (including lost wages) directly relating to therepresentation of the class and such other amounts as ordered or approved by the .Court.

I dee are under penalty of perjury that the foregoing is tr-ue and con-ect Executed-a_this / (; day of April 2009, at

(City) zei AS:ap

• Adam Spice

••

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EXHIBIT B

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PRESS RELEASE CalcuiateSparer Law Group Files Class Action Lawsuit Against ; Your New PaymentOppenheimer California Municipal Fund (ris,), 0 9 \;

60-Year 1 48-Year ; 36-Year ; 30-Year I, Fubt update p m F-ST Fen 18, 2009 • Fixed Fixed Fixed Fixed; Loan Loan Loan ; Loan

SAN FRANCISCO, Feb 18, 2009 (BUSINESS WIRE) — Sparer Law Group filedthe first class-action lawsuit on behalf of investors who purchased the rOppenheimer California Municipal Fund (Symbols: OPCAX, OCABX, OCACX) between September 27, 2006 and November 28, 2008. The case is filed in the j 20 -Year 15-Year ; 10-Year n srsioon AUnited States District Court for the Northam District of California, under case ( Fixed Fixed Fixed Loan for

r, • ianumber C 09-00567 SI. The complaint is available at www.sparedaw.com . Loan Loan I oan 332 liffrnig

ff you are an investor and wish to serve as lead plaintiff, you must move the Courtno later than April 20, 2009. If you are considering joining the lawsuit as lead

j $126,000 5450,000 5175,000 3200,000plaintiff, would like to discuss the lawsuit or simply receive regular email updates, Loan for Loan for t Loan tor Loan forplease call Alan Sparer, Marc Haber or James Nabwangu of the Sparer Law Group 57391rno. F 0:1,035Ptrno., $1.183ftimo,Tat 415-217-7300, or e-mail the firm at [email protected] . You may also submityour contact and investment information at http:ftwww.sparerlaw.com/lawyer-attorney-1394884.html.

5225.000 1 .2 5275,000 8130.000Loan for Loan for Loati torAny member of the purported class may move the Court to serve as lead plaintiff r St331'1mo); 81,827Lirno,iF, $2,074:errno.1

through counsel of their choice, or may choose to do nothing and remain an-absent class member. Although your ability to share in the recovery is not affected

by your decision whether or not to seek such appointment, lead plaintiffs makeimportant decisions which could affect the outcome of the lawsuit, Including crirc; Trcrimir

decisions about settlement. The securities laws require the Court to consider the A: .44,44,4 44,-444-,applicant class member(s) with the largest financial interest In the relief sought as jffItirtirtiml,‘ Learn.Morepresumptively the most adequate lead plaintiffs. „

The lawsuit alleges that the Fund's Registration Statements and Prospectuses „ „„ RatektlorketRirtee•- •T' t ---9;334.T93' Tee,- 'cohnuf Tura corRIAL003 misled investors about the Fund's investment objectives and underlying risk by

describing the Fund as seeldng current income "consistent with presentation ofcapital." The Fund lost over 41% of its net asset value ei NAV") in 2008. By Midday Report E.newsletter

comparison, the average loss for funds within the same Lipper peer group overor Receive a daily email with major indexthis period was only 11.5%. ft- #1, levels, financial market news and

rjr* 4.1 commentary,According to the lawsuit, the Oppenheimer California Municipal Fund policies and 1). ." 7 Enter yourMail address „pion upoperations violated the preservation of capital objective by concentrating 78% of moST Privacy policy

POPULARits assets in bonds rated at the lowest investment grade or below, and by

TIPTIIITATIPReIt5ftirtItiiTI concentrating 60% in bonds not rated by any independent rating agency.Additionally, the Fund allegedly violated its fundamental investment policy against J P. Morgan profit off, bank put aside 54 bin foroverconcentration in a single industry by investing 33% of its assets in the bad bansCalifornia real estate development industry through its investments in "dirt bonds." 2. Rosetta Stone is yeaPs best performing IPO soThese particularly risky investments are based on contracts for land developments farthat have not been built and were especially vulnerable to the recent declines in 3. CORRECT: U.S. futures rise as J.P. MorganCalifornia's real estate market. beats, permits fall

4. General Growth Properties files for bankruptcyThe lawsuit further alleges that Oppenheimer failed to disclose that, because of protectionthe Fund's overconcentration in lower rated bonds and bonds not rated by any s. CORRECT: Stress test for investors comingindependent agency, there was a significant risk that more than 25% of its assets soonwere in junk bonds, another violation of the Fund's fundamental investment 6. Gold falls on jobs data, deflation worriespolicies. 7. Obama unveils plans for high-speed rail

8. Google beats first-quarter profit estimatesSOURCE: Sparer Law Groups. Obama to 'tea-bag' protesters. I've arready cut

Sparer Law Group taxes•

Man Sparer, 415-217-7300 go. China keeps its pull on commodities reins

• Get the Latest MarketVVatch News"Copyright Business Wire 2009 B5

1 of 2 4/16/2009 2:11 PM

EXHIBIT C






6 jnabwan gu(a)sparerlaw.com


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14

Action Filed: February 6, 2009Plaintiff,

15 DECLARATION OF JIM FEUILLEV. IN SUPPORT OF MOTION TO

16 CONSOLIDATE, APPOINT THEOPPENHEIMER CALIFORNIA RIVERA INVESTOR GROUP AS

17 MUNICIPAL FUND, et al., LEAD PLAINTIFF AND TO APPROVEPROPOSED SELECTION OF COUNSEL

18 Defendants.

19Date: May 29, 2009Time: 9:00 a.m.


21


23Plaintiff,

24v.


26Defendants.

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DEC OF FEUILLE ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



3 Plaintiff,

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6Defendants.

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DEC OF FEUILLE ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 I, Jim Feuille, declare as follows:

2 1. I am a member of the proposed Rivera Investor Group (or "Group"), and submit

3 this Declaration in support of the Group's Motion to Consolidate, Appoint The Rivera Investor

4 Group as Lead Plaintiff and to Approve Proposed Selection of Counsel. Except as otherwise

5 stated, the facts set forth herein are known to me of my own personal knowledge, and if called

6 upon to do so I could and would testify competently thereto.

7 2. The Rivera Investor Group was formed after each of its members separately

8 contacted Sparer Law Group between January and April 2009. On March 25, 2009, the first

9 members of the Rivera Investor Group Jim Feuille, Peter Fischler, Sam Lindsay, Robert Rivera

10 and Adam Spice met in person in Irvine, California. Prior to this meeting, these members had

11 not met one another, and had no prior family or business relationship.

12 3. Each member of the Rivera Investor Group has substantial business experience at

13 the executive level and the required sophistication, expertise, and resources to manage this action

14 efficiently. Each member has incurred significant losses in excess of $250,000 and is

15 substantially motivated to vigorously prosecute this action.

16 4. We were introduced to each other by Alan W. Sparer as the clients of Sparer Law

17 Group who suffered the greatest losses in Oppenheimer California Municipal Fund, were willing

18 to serve on a lead plaintiff committee, and who had special expertise that would aid the Group in

19 managing counsel and the litigation on behalf of the putative class. Because of the losses that I

20 have suffered and the expertise that I and others bring to the Group, I have the incentive and

21 desire to work together with the other members of the Group to control the litigation.

22 Accordingly, I consented to serving as a member of the lead plaintiff committee, or alternatively

23 as an individual lead plaintiff.

24 5. A biographical description of the members of our Group is as follows:

25 (a) Jim Feuille (loss during class period $312,980.92): Mr. Feuille is a

26 General Partner at Crosslink Capital, with over 25 years of technology investment banking and

27 investment management experience. Mr. Feuille's prior positions include: Global Head of

28 Technology Investment Banking at UBS, where he built its global technology investment

DEC OF FEUILLE ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO C 09 -0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 banking practice from scratch; Chief Operating Officer at Volpe Brown Whelan & Company,

2 where he managed all aspects of the firm's investment banking and brokerage operations, prior

3 to its acquisition by Prudential; and Head of Technology Investment Banking at Robertson

4 Stephens, where he built the technology investment banking team. Mr. Feuille has a Bachelor of

5 Arts degree in Chemistry from Dartmouth College, and a JD/MBA from Stanford University.

6 As a member of Board of Directors of many companies, Mr. Feuille regularly participated

7 in the selection of outside counsel, the adoption of litigation case management plans, supervision

8 of lawsuits, and decisions regarding settlement. During his business career, Mr. Feuille also has

9 been deposed in several securities class actions, predominantly in his role as an underwriter and

10 investment banker.

11 (b) Peter Fischler (loss during class period $342,855.82): Mr. Fischler has

12 over 20 years of asset management, government bond trading and government bond arbitrage

13 experience. Since 1995, Mr. Fischler has been a portfolio manager for Coast Asset Management

14 in Santa Monica, California, where he specializes in government bond trading for high net worth

15 and institutional investors. Mr. Fischler earned a Bachelor of Arts degree from the University of

16 California Irvine in Social Ecology in 1980, and an MBA in International Business from the

17 Thunderbird School of Global Management. Mr. Fischler's experience in government bond

18 trading and arbitrage provides the Group with a further resource in analyzing and evaluating the

19 municipal bond transactions and the derivatives transactions involving inverse floaters, which are

20 the subject of the action.

21 Twice in the past six years, Mr. Fischler has retained counsel to negotiate on his behalf in

22 the purchase of real estate directly from financial institutions. In addition, Mr. Fischler serves on

23 the grievance committee for U.S.A. Water Polo. The Committee investigates grievances and is

24 empowered to issue sanctions to its members, including a lifetime ban from the sport. The

25 Committee is currently involved in litigation with a registered member of U.S.A. Water Polo

26 over the outcome of a grievance hearing.

27

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-1- DEC OF FEUILLE ISO MTN TO CONSOLID, APPOINT RIVERA INV. GRP NO C 09-0567 SI

AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 (c) Sam Lindsay (loss during class period $1,337,979.09): Mr. Lindsay has

2 a bachelor's degree in Business Management and an MBA from San Jose University, and almost

3 40 years of real estate development experience in residential land, commercial shopping centers,

4 industrial and office parks, and large mixed-use projects. Mr. Lindsay also has substantial

5 experience as a business executive. He served as a Vice President of Development for Koll

6 Company for three-and-one-half years, where he oversaw the development of several office and

7 business parks. Mr. Lindsay was also one of the founders of the Sammis Company, a national

8 real estate development firm with six offices located throughout the United States As President

9 of the Sammis Company, Mr. Lindsay spent fifteen years overseeing the development of over

10 20,000 acres of mixed-use residential land projects, and millions of square feet of office and

11 industrial parks, and retail shopping centers. Mr. Lindsay was also President of S.G. Lindsay

12 Company, where he managed and developed his personal real estate assets, including two large

13 ranches totaling 4,200 acres, which were subdivided into several parcels, improved, and sold.

14 In his current capacity as Manager of Logos Properties, LLC, Mr. Lindsay is involved in

15 developing and investing in residential land and commercial properties. Mr. Lindsay also

16 provides consulting services on large residential land projects in California, similar to the

17 projects initiated with Mello-Roos Bonds at issue in this action. The Rivera Investor Group

18 anticipates that Mr. Lindsay will provide indispensable background regarding land development

19 projects and the financing relating thereto, which constitute over 40% of the investment activity

20 of the Oppenheimer California Municipal Fund.

21 Over his 40-year career in the real estate industry, Mr. Lindsay has been involved in

22 hundreds of real estate transactions requiring the participation of legal counsel, hiring and

23 working with lawyers to negotiate leases, draft purchase and sale contracts, and design complex

24 financing structures. Over his career, Mr. Lindsay also has been a plaintiff or defendant in at

25 least four multi-million dollar lawsuits involving real estate transactions. One of these actions

26 includes two related cases with alleged damages totaling over $50 million.

27

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1 (d) Robert Rivera (loss during class period $250,181.00): Mr. Rivera has

2 been a businessman and entrepreneur for over 25 years. Mr. Rivera began his career working for

3 the U.S. Navy (Corona, CA) DOD/NSA at age 17, where he worked for almost 2 years as a

4 programmer on the second largest computer owned by the Navy at that time. Mr. Rivera started

5 his first company at the age of 19. His company, Spectrum Communications, has been featured

6 on the INC 500 Fastest Growing Privately Held Companies' List on 6 separate occasions. Mr.

7 Rivera is also currently involved in television and movie production.

8 For the last eighteen years, Mr. Rivera has had direct-line supervision of Spectrum

9 Communications' in-house counsel and responsibility for management of all litigation in which

10 the company is involved. Mr. Rivera closely supervises the legal strategy and its implementation

11 in all significant litigation involving the Company. In the past six years, Spectrum

12 Communications has been involved in at least four multi-million dollar lawsuits, in which Mr.

13 Rivera supervised legal strategy and made final decisions regarding settlement.

14 In addition, Spectrum Communications derives a substantial portion of its business from

15 the U.S. Government, which regularly requires the Company, its employees and legal staff to

16 negotiate the complex government procurement process. On a daily basis, Mr. Rivera supervises

17 and works closely with counsel on issues relating to the company's contracts and bidding.

18 (e) Jerry Siegel (loss during class period $470,593.71): Mr. Siegel is a

19 retired attorney and has a significant amount of legal expertise that will be helpful to the

20 Committee. Mr. Siegel graduated from Yale Law School, and clerked for Judge Charles

21 Renfrew in 1972 and Justice Potter Stewart during the October 1973 Supreme Court Term.

22 From 1974 to 1979, Mr. Siegel was an Assistant United States Attorney for the Southern District

23 of New York. Mr. Siegel conducted numerous federal criminal trials before the United States

24 District Court, briefed and argued appeals before the United States Court of Appeals for the

25 Second Circuit, and worked with the Office of the Solicitor General on appeals or petitions for

26 certiorari arising therefrom.

27 Between 1982 and 1986, Mr. Siegel was a partner at Coudert Brothers and served as the

28 firm's head of Commercial Litigation, overseeing attorneys and the firm's commercial litigation



1 practice. Mr. Siegel was also a partner at LePera, Lessa & Siegel from 1986 to 1991. Thereafter,

2 Mr. Siegel practiced law as a sole practitioner handling international commercial arbitration and

3 litigation matters. He has been retired since 2003.

4 Mr. Siegel has a BA from Stanford University and a M.Sc. from the London School of

5 Economics.

6 Adam Spice (loss during class period $488,682.00): Since 1996, Mr.

7 Spice has been an executive at two Fortune 500 Companies, joining Intel's Planning and

8 Logistics Group in 1996, and later serving as a Senior Finance Manager at Intel Capital from

9 1998 to 2000. In 2000, Mr. Spice joined Broadcom Corporation to run its Corporate

10 Development function, and eventually assumed the roles of Corporate Treasurer and Vice

11 President of Business Planning. Currently, Mr. Spice's title is Vice President of Finance and

12 Corporate Development. His responsibilities at Broadcom now include financial management

13 for various Broadcom business units including: Operations and Manufacturing, Corporate

14 Development and Business Planning.

15 Mr. Spice is a member of the management team responsible for strategic investments, and

16 mergers and acquisition transactions at Broadcom, including oversight of Broadcom's internal

17 legal processes relating to mergers and acquisitions, and management and coordination of

18 Broadcom's business and legal employees as transactions are developed and completed. Mr.

19 Spice has worked closely with legal counsel drafting definitive agreements, and has also worked

20 with counsel to monitor due diligence relating to acquisition targets. Mr. Spice has been

21 deposed twice as a Broadcom executive since 2000.

22 Mr. Spice earned an undergraduate degree in Finance from Brigham Young University in

23 1990, and earned an MBA with a concentration in Finance from The University of Texas at

24 Austin in 1996.

25 6. At the meeting in Irvine on March 25, 2009, the Rivera Investor Group discussed

26 and unanimously adopted a detailed governance structure. The members determined how they

27 will supervise the litigation, requiring regular and mandatory briefing updates from counsel. The

28



1 Group also established a process for making decisions regarding the litigation. The group also

2 selected a secretary and established ready means of communication.

3 7. Before selecting Sparer Law Group as counsel, members of the Group

4 independently evaluated that law firm's expertise and conducted their own investigation

5 regarding the generally prevailing standards for attorneys' fees in securities class actions.

6 Members of the Group consulted with independent attorneys to determine the reasonableness of

7 the proposed fee schedule before approving it. I believe the Group will be similarly well

8 informed tlu-oughout this action, will exercise general control of the litigation itself and will not

9 be controlled or unduly influenced by legal counsel.

10 8. On April 15, 2009 and subsequent to their initial meeting, the Rivera Investor

11 Group met by email and telephonically and invited Jerry Siegel to join the Group. During the

12 meeting, the Group modified its earlier adopted decision making rules to provide that all

13 decisions would be made based on a majority vote of its six members.

14 9. Each member of the Rivera Investor Group has the email, address and telephone

15 number for every other member. Any member of the Group may request a meeting or

16 conference call. Counsel is to provide, at a minimum, written quarterly updates to the Group,

17 and provide billing records documenting the time spent on the matter and the costs incurred

18 relating to the quarter's activities.

19 10. I am aware that I, as an individual, or as part of the Group, could select any

20 counsel to represent me or the Group, and that we were not and are not required or compelled to

21 recommend Sparer Law Group as class counsel. However, by submitting this Declaration, I am

22 personally ratifying Sparer Law Group as my choice for that role in this litigation.

23 11. Based on the membership of the Rivera Investor Group, its governance structure

24 and arrangements with counsel to oversee the litigation, I believe the Group is highly motivated

25 to prosecute this action and will be efficient and effective in managing it and legal counsel on

26 behalf of the putative class. I also believe that our Group and governance structure exhibit the

27 same level of sophistication, expertise and resources as I would expect from an institutional

28 investor taking on the same responsibilities.




2 knowledge,•

3 Executed this 11 day of April 2009 in Sax\ 6;11-1A0-15C.0 ,

(City) (State)4

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DEC OF FEUILLE ISO MTN TO CONSOLID, APPOINT RIVERA GRP AS No. c 09-056781LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

EXHIBIT D








8




12


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15 DECLARATION OF PETER FISCHLERV. IN SUPPORT OF MOTION TO

16 CONSOLIDATE, APPOINT THEOPPENHEIMER CALIFORNIA RIVERA INVESTOR GROUP AS


18 Defendants.

19Date: May 29, 2009Time: 9:00 a.m.


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23Plaintiff,

24v.


26Defendants.

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DEC OF FISCHLER ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



3 Plaintiff,

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DEC OF FISCHLER ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 I, Peter Fischler, declare as follows:




























DEC OF FISCHLER ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO C 09 -0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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-1- DEC OF FISCHLER ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO C 09 -0567 SI

GRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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5 Economics.



















24 Austin in 1996.




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I I declare, under penalty of perjury that the foresoing is true and correct to the best of my

2 Icaowledge.

3 Executed. this I day of April 2009 in i-o? A-niz,9-ts , (City) (State)

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-7- DEC OF FISCHLER ISO MTN TO CONSOLID, APPOINT RIVERA NO c 09-o167

• GRP AS LEAD PLF et TO APPROVE PRPSD SLCTN OF COUNSEL

EXHIBIT E








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15 DECLARATION OF SAM LINDSAYV. IN SUPPORT OF MOTION TO

16 CONSOLIDATE, APPOINT THE RIVERAOPPENHEIMER CALIFORNIA INVESTOR GROUP AS LEAD

17 MUNICIPAL FUND, et al., PLAINTIFF AND TO APPROVEPROPOSED SELECTION OF COUNSEL

18 Defendants.

19Date: May 29, 2009Time: 9:00 a.m.


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23Plaintiff,

24v.


26Defendants.

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DEC OF LINDSAY ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



3 Plaintiff,

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DEC OF LINDSAY ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567S1GRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 I, Sam Lindsay, declare as follows:




























DEC OF LINDSAY ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO C 09 -0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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5 Economics.



















24 Austin in 1996.




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1 1 declare, under penalty of perjur3r that the foregoing is true and correct to the best of my

2 knowledge.

3 Executed this I Lf4day of April 2009 in t4EW Pon-C 1 A e-41 , CA u F op-,(City) (State)

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-7- DEC OF LINDSAY ISO .MTN TO CONSOLED, APPOINT RIVERA NO. C 09-0567 SI

GRP AS LEAD PLF 84 TO APPROVE PRPSD SLCTN OF COUNSEL

EXHIBIT F








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15 DECLARATION OF ROBERTV. RIVERA IN SUPPORT OF MOTION

16 TO CONSOLIDATE, APPOINT THEOPPENHEIMER CALIFORNIA RIVERA INVESTOR GROUP AS


18 Defendants.

19Date: May 29, 2009Time: 9:00 a.m.


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DEC OF RIVERA ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL



3 Plaintiff,

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DEC OF RIVERA ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567S1GRP AS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 I, Robert Rivera, declare as follows:




























DEC OF RIVERA ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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-2-DEC OF RIVERA ISO MTN TO CONSOLID, APPOINT RIVERA INV. GRP NO. C 09-0567 SI

AS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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5 Economics.



















24 Austin in 1996.




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1 Group also established a process for making decisions regarding the litigation. The Group also































2 knowledge.

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•-7- DEC OF RIVERA ISO MTN TO CONSOLW, APPOINT RIVERA GRP NO. C09-0567 SI

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EXHIBIT G








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15 DECLARATION OF JERRY SIEGELV. IN SUPPORT OF MOTION TO

16 CONSOLIDATE, APPOINT THEOPPENHEIMER CALIFORNIA RIVERA INVESTOR GROUP AS LEAD


18 Defendants.Date: May 29, 2009

19 Time: 9:00 a.m.


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DEC OF SIEGEL ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



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DEC OF SIEGEL ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO. C 09-0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 I, Jerry Siegel, declare as follows:




























-1- DEC OF SIEGEL ISO MTN TO CONSOLID, APPOINT RIVERA INV. NO C 09 -0567 SIGRP AS LEAD PLF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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5 Economics.



















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1 I declare, -ride- penalty of perjury that the foregoing is true and correct to the best of my. _

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DEC OF RIVERA ISO 1V1TN TO CONS UM, APPOINT RIVERA GRP NO. C 09-0567 SIAS 1FAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL

EXHIBIT H








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15 DECLARATION OF ADAM SPICE INV. SUPPORT OF MOTION TO

16 CONSOLIDATE, APPOINT THE RIVERAOPPENHEIMER CALIFORNIA INVESTOR GROUP AS LEAD


18 Defendants.Date: May 29, 2009

19 Time: 9:00 a.m.


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DEC OF SPICE ISO MTN TO CONSOLID, APPOINT RIVERA INV. GRP NO. C 09-0567 SIAS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL



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DEC OF SPICE ISO MTN TO CONSOLID, APPOINT RIVERA INV. GRP NO. C 09-0567 SIAS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL

1 I, Adam Spice, declare as follows:




























-1- DEC OF SPICE ISO MTN TO CONSOLID, APPOINT RIVERA GRP NO C 09 -0567 SIAS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL



























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2 knowledge.

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-7- DEC OF SPICE ISO MTN TO CONSOLED, APPOINT RIVERA GRP NO. C 09-0567 SIAS LEAD PLNTFF & TO APPROVE PRPSD SLCTN OF COUNSEL

EXHIBIT 1

SPARER LAW GROUP - Practice and History

Sparer Law Group ("SLG") was founded in 2003 by Alan Sparer after 20 years ofexperience as a litigator and director at Howard, Rice, Nemerovski, Canady, Falk &Rabkin in San Francisco, California. The firm's primary practice focuses on representingindividual and institutional investors in complex litigation in federal and state courts andFINRA arbitrations. In addition, SLG continues to litigate complex matters in diverseareas, including unlawful banking practices, CEQA, insurance coverage, real estate andhealth care.

Three of SLG's four lawyers spent a substantial part of their legal careerspracticing at Howard Rice before forming or joining SLG. Their experience in securitieslitigation, class actions, consolidated actions and other major litigation is set forth below.A brief biography of each lawyer follows.

REPRESENTATIVE LITIGATION

Class Action and Consolidated Actions

Keane et al. v. Tremont Group Holdings, Inc. et al. (Class Action S.D.N.Y. Pending);Peshkin et al. v. Tremont Group Holdings, Inc. et al. (Class Action S.D.N.Y. Pending).Representation of sub-feeder hedge funds and general partner in Madoff Ponzi Schemeclass action litigation.

Eshelman v. OrthoClear Holdings, Inc. (Class Action N.D. Cal. Pending).Representation of investors in a securities class action alleging fraud, misrepresentationand sale of unregistered securities in violation of Section 12(a)(1) of the Exchange Act.(Currently on appeal to the Ninth Circuit).

Southwest Exchange Litigation (2007-2009). Representation of Citigroup GlobalMarkets, Inc. (Smith Barney) in multi-forum litigation involving RICO and fraud-relatedclaims of over $300 million stemming from the collapse of an IRS Section 1031Exchange Company. Litigation in Nevada and California included two federal classactions which were combined through MDL proceedings, two bankruptcy proceedings,and two state court actions involving more than 100 plaintiffs and 25 defendants.

Trimble v. Holmes Harbor Sewer District (2005-2007). Representation of PrudentialEquities Group in six week jury trial in Washington state court involving allegedviolations of Washington State Securities Act and other state law claims. Jury returneddefense verdict after trial affirmed by Washington State Court of Appeals andWashington State Supreme Court.

-1-

Boyapati v. Bitech International (N.D. Cal. 2007). Representation of founder ofinternational staffing services provider in action involving federal and state securitiesfraud and other claims. Confidential Settlement.

Michael Grassmueck, Federal Equity Receiver v. Dwayne Barnett et al.(SEC Receivership W.D. Wash. 2005). Defense of consultant and outside directordefendant in receivership litigation arising from securities fraud by Znetix, Inc. andaffiliated companies. Mr. Sparer was a member of the three-person committee thatnegotiated the directors and officers settlement.

In re Peregrine Systems, Inc. Securities Litigation (2003-2004). Representation ofindividual director in numerous securities class actions and derivative suits stemmingfrom alleged fraudulent accounting practices at publicly traded technology company.Successfully negotiated dismissals for client in early stages of litigation.

Wheeler v. Sears, Roebuck & Co. (Madison County, Illinois Circuit Court 2002)nationwide class action; Twigg v. Sears, Roebuck & Co. (E.D. Fla. 2001). Defense ofSears in nationwide consumer class actions arising from sales of tire balancing services.

Ingram v. Sears, Roebuck & Co. (Los Angeles Superior Court 2001); Moura v. Sears,Roebuck & Co. (Alameda County Superior Court). Defense of Sears in statewideconsumer class actions arising from sales of tire balancing services.

$4.39 Million recovery against Bank Defendant (Superior Court 2000). Representationof 50 individual investors in consolidated action against bank and bank directorsinvolving claims of conspiracy, aiding and abetting fraud, and consumer fraud arisingfrom sale of real estate investment partnerships.

Bacchini et al. v. Envirocal, Inc. Health & Welfare Plan et al. (N.D. Cal. 1990). Defenseof action arising from company merger seeking health and welfare benefits for over 100retiree plaintiffs. Case settled after motion to dismiss granted.

In re Wedtech Securities Litigation (S.D.N.Y. 1989). Representation of outside directordefendant and independent business consultant defendant in nationwide securities fraudclass action; coordination with parallel criminal proceedings.

Individual Securities Cases.

$1.6 Million recovery. Representation of trustee in action against bank and brokerage forwrongfully freezing trust assets (N.D. Cal. 2008).

$5.8 Million recovery. Switzer & Sons, L.P. et al. v. Deutsche Bank Securities, Inc. et al.Consolidated. Representation of family limited partnerships, trust and charitablefoundation against brokerage arm of Deutsche Bank in connection with over-concentration of high net worth investors in alternative investment products includinghigh yield bond funds, collateralized debt obligations and hedge funds (NASD 2006).

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$1.75 Million recovery. Representation of 15 investors in coordinated cases againstmajor financial institution serving as prime broker for failure to supervise and discoverfraudulent practices of independent investment advisor (NASD 2006).

$1.65 Million recovery. Representation of company founders against major investmentbank for failure to hedge or enter into derivatives transactions (NASD 2005).

$8.5 Million recovery. Representation of company founders and investors against majorbrokerage firm for failure to hedge or enter into derivatives transactions (NASD 2004).

$15 Million recovery. Representation of public company founders in coordinated actionsagainst financial advisor arising from failure to diversify or hedge concentrated positionin Rule 144 stock (Superior Court 2003).

Morgan Stanley Related Cases (2003-2005). Representation of Morgan Stanley DW Inc.in more than 25 broker-dealer arbitrations, regulatory inquiries, and internalinvestigations.

Securities Enforcement and Regulatory Actions.

Confidential Representation (SEC investigation 2008). Representation of witness andpotential target hedge fund CEO in SEC insider trading investigation.

Confidential Representation (SEC investigation 2005-2006). Represented brokerage firmand several officers and employees in SEC investigation into brokerage firm's tradingpractices.

Department of Enforcement (NASD) v. Quattrone (NASD Regulation 2004). Successfulrepresentation of Frank Quattrone in enforcement action alleging unlawful "spinning" ofIPO shares and inadequate supervision.

Confidential Representation (SEC Investigation 1983). Representation of Atari Incofficer in SEC insider trading investigation.

Other Significant Litigation Matters.

Montgomery-Washington Homeowners Ass 'n v. San Francisco Community College Dist.,(San Francisco Superior Court 2008). Representation of City College of San Francisco inCEQA litigation over its plans to site a new campus in San Francisco's Chinatown/NorthBeach district. Settlement reached just prior to the CEQA hearing allowed City Collegeto build its campus in return for a partial reimbursement of plaintiff's legal fees.

Kulstad v. Maniaci (Montana State Court 2008-present). Successful bench trial inMontana state court in cooperation with the ACLU representing individual plaintiff in acase of first impression seeking to affirm custody rights to children adopted during same-sex relationship. Appeal pending, Montana Supreme Court.

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Comerica Bank v. Commercial Capital Bank (Superior Court 2006). Representation ofCommercial Capital Bank and its acquirer, Washington Mutual, Inc., in action allegingmisappropriation of trade secrets and unfair competition claims of over $100 millionstemming from the hiring of 24 bankers from Comerica Bank. Confidential Settlement.

Republic of the Marshall Islands v. American Tobacco Co. (High Court of the MarshallIslands 2001). Representation of R.J. Reynolds in billion dollar action brought by theRepublic of the Marshall Islands seeking to recover all amounts spent treating illnessesassociated with smoking.

Fibreboard Corp. v. R.J. Reynolds Tobacco Co. (Alameda Superior Court. 2001).Representation of R.J. Reynolds in billion dollar indemnity action brought by asbestosmanufacturers against tobacco companies.

GECC v. DirecTV (D. Conn. 1999). Representation of DirecTV in a $180 million breachof contract action brought by General Electric Capital Corporation.

Vietnamese Fishermen's Ass 'n of America v. Admiral Paul Yost et al. (N.D. Cal. 1989;Ninth Circuit Court of Appeals 1990). Challenge to Jones Act provisions denying non-citizen residents the right to own or pilot fishing vessels in U.S. territorial waters. (Withthe ACLU and Asian Law Caucus.)

In Re Atmospheric Testing Litigation (N.D. Cal. 1987; 9th Circuit Court of Appeals1985). Challenge to statute immunizing defense laboratories against negligence claimsby W.W. II veterans used as experimental subjects during the atomic weapons testingprogram.

SPARER LAW GROUP - Attorneys

ALAN W. SPARER

Alan W. Sparer received his Bachelor's degree from Columbia College in 1965and was a Kellett Fellow at St. Johns College, Oxford University from 1969-1971. Mr.Sparer received his Ph.D. from Massachusetts Institute of Technology in 1976. He wasan Assistant Professor of Philosophy at North Carolina State University at Raleigh from1975-1979, teaching courses primarily in ethics, political philosophy and philosophy oflaw. Mr. Sparer received his J.D. from Stanford Law School in 1982, and joined the lawfirm Howard, Rice, Nemerovski, Canady, Falk & Rabkin serving as a Director of the firmfrom 1986 to 2003. Mr. Sparer founded the Sparer Law Group in 2003, in part, tocontinue building on a specialty he began developing in the late 1990s representinginvestors and institutions in cases involving complex financial instruments.

For over 25 years, Mr. Sparer has also successfully represented individuals andbusinesses in litigation involving business disputes, environmental, real estate and healthcare issues. He serves as outside general counsel to ongoing businesses, in addition to

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representing investors in class and consolidated actions and individual arbitrations. He isAV rated by Martindale Hubbell and was a Northern California Super Lawyer in 2008and again in 2009.

PUBLICATIONS

"Batson and the Discriminatory Use of Peremptory Challenges" and "Change of Venue"in Bonora & Krauss: Jurywork: Systematic Techniques (Clark Boardman 1983).

REPORTED DECISIONS

In re Atomic Testing Litigation, 820 F.2d 982 (9th Cir. 1987) (discretionary functionexception to the Federal Tort Claims Act).

In re Wedtech Securities Litigation, 81 B. R. 237 (S.D.N.Y. 1987) (bankruptcyjurisdiction in cases involving related federal court proceedings).

In re Wedtech Securities Litigation, 87 B.R. 285 (S.D.N.Y. 1988) (bankruptcyrecognition of unresolved securities claims).

Vietnamese Fisherman Ass 'n of America v. California Department of Fish and Game,816 F. Supp. 1468 (N.D. Cal. 1993) (preemption of federal environmental regulation overstate ballot initiative).

Pietrelli v. Peacock, 13 Cal. App. 4th 943 (1993) (enforcement of health care arbitrationagreement as to not-yet-conceived child).

ADMITTED TO PRACTICE

1982, California and U. S. District Court, Northern District of California; 1986, U. S.District Court, Eastern District of California and U.S. Court of Appeals for the NinthCircuit; 1987, U.S. Supreme Court; 1995, U.S. District Court, Central District ofCalifornia; 2000, U.S. Court of Appeals for the Eleventh Circuit.

MARC C. HABER

Marc C. Haber received his Bachelor's degree in Philosophy and PoliticalScience from the University of California Berkeley in 1993, graduating with honors fromthe university and high honors from the Political Science department. Mr. Habergraduated from the University of California Berkeley's Boalt Hall School of Law in1997, receiving several awards, including the American Jurisprudence award in CriminalLaw. Mr. Haber was an associate editor of the California Law Review. During lawschool, Mr. Haber served as a judicial extern to Judge Susan Illston, United StatesDistrict Court, Northern District of California.

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Upon graduation, Mr. Haber joined Kirkland & Ellis's Los Angeles office as anassociate. In 1999, Mr. Haber returned to San Francisco, joining Howard RiceNemerovski Canady Falk & Rabkin. Mr. Haber joined the Sparer Law Group in 2005.

Mr. Haber has over 10 years of experience representing individuals and organizationsacross a wide spectrum of practice areas, including securities, business disputes, andcomplex litigation.

KEVIN H. LEWIS

Kevin H. Lewis received his Bachelors degree in Economics from ShepherdCollege in 1992, graduating summa cum laude. From 1992 to 1995, Mr. Lewis workedas a writer and editor for Congressional Information Service in Bethesda, Maryland. Hereceived his J.D. from University of California Hastings College of the Law in 1998,graduating cum laude. While at Hastings, he served as Senior Articles Editor for theHastings Law Review and externed for the Honorable Maxine M. Chesney of theNorthern District of California.

In October 1998, Mr. Lewis then began his litigation practice at the firm ofHoward Rice Nemerovski Canady Falk & Rabkin, where he became a Director in 2006.1His practice focuses on securities litigation and arbitration, intellectual property litigation,and other commercial and complex litigation. His representative clients have includedCitigroup Global Markets, Inc., Washington Mutual, Inc., Morgan Stanley DW Inc., RBCSecurities, Wells Fargo Bank, Prudential Equities Group, Commercial Capital Bank, andPlanet Out, Inc.

PUBLICATIONS

"Equal Protection After Romer v. Evans, Implications For The Defense °Marriage ActAnd Other Laws," 49 Hastings L.J. 175 (1997)

REPORTED DECISIONS

Debro v. Los Angeles Raiders, 92 Cal. App. 4th 940 (2002) (affirming demurrer to quitam complaint).

Gay Straight Alliance Network and George Loomis v. Visalia Unzfied School District,262 F. Supp. 2d 1088 (E.D. Cal. 2002) (denying motion to dismiss civil rightscomplaint).

'Mr. Lewis will be joining the Sparer Law group later in April 2009.

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JAMES S. NABWANGU

JAMES S. NABWANGU is a graduate of McGill University (B. Com . 1999) andWilliam and Mary Law School (J.D. 2003). Mr. Nabwangu has been a financial analystat Bank One and Wachovia Bank in the capital market departments of these financialinstitutions. Since 2003, Mr. Nabwangu has successfully represented investors inlitigation against Toronto Dominion Bank, Fidelity Inc., Deutsche Bank Securities, Inc.,Smith Barney, Donaldson Lufkin & Jenrette, and Credit Suisse First Boston. Mr.Nabwangu has litigated disputes involving the following securities products: zero costcollars, restricted stock, CD0s, private equity investments, exchange funds interests,venture capital investments and hedge funds.

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