PRESS RELEASE: PIABA Announces Its Support for Corporate Fraud Accountability Laws, Philip M. Aidikoff, 2002 PIABA President (July 31, 2002)

July 31, 2002

PIABA ANNOUNCES ITS SUPPORT FOR CORPORATE FRAUD ACCOUNTABILITY LAW

July 31, 2002. Beverly Hills, California. The Public Investors Arbitration Bar Association (PIABA), a nationwide bar organization of attorneys dedicated to the representation of individual investors in disputes with the securities industry, today announces its support for the passage of the Sarbanes – Oxley Act of 2002.

The recent upsurge in corporate fraud has occurred largely as a result of decisions made by Congress in the 1990s to diminish corporate accountability and investor rights enacted in the 1930s. The SarbanesOxley Act represents the most sweeping reform of corporate business practices since the Great Depression.

“PIABA believes that the new law promoting accountability by strengthening penalties for corporate wrongdoers is a step in the right direction,” according to Philip M. Aidikoff, president of PIABA. “Although the law provides better protection for the public from this day forward, it does little to address the scandals that have rocked the marketplace and shaken the confidence of main street investors for the last several months.”

“Now it is time for government agencies like the Securities and Exchange Commission and the Department of Justice to step up and use Sarbanes-Oxley to protect the millions of hardworking Americans who are victims of this massive fraud,” stated Mr. Aidikoff.

PIABA believes that the investing public should commend lawmakers for this step to restore the confidence of the public investor, however, PIABA remains guarded and optimistic that our government will seek to protect the rights of those who have already been defrauded.

If you have questions concerning this notice, please contact: Philip M. Aidikoff, Esq. President, Public Investors Arbitration Bar Association www.piaba.org (888) 621-7484

Hear what our members say about PIABA.

See how PIABA has helped protect others in investment disputes within the securities industry.

“The resources and networking opportunities provided by PIABA have been instrumental in my career development. When I was new to the practice, I was surrounded by mentors and friends who were always willing to help. Over the 12+ years I have been a member, PIABA has consistently been my most valuable support. As an experienced lawyer, PIABA offers leadership roles and opportunities to give back by mentoring the next generation of attorneys in this area. You won’t regret getting involved.”

Meyer Wilson

Courtney M. Werning, Esq. | Principal

“I have been a PIABA member since the year of its founding in 1991. For 33 years PIABA has been an unparalleled source of information and ideas, and remains an integral part of my law practice. More important, I count many of its members as my friends. PIABA has greatly enriched my life, both professionally and socially.”

Leonard Steiner

STEINER & LIBO

“Piaba has been instrumental to the growth of my career. I have made lifelong friends and have attended every annual meeting for the last 15 years. The list-serve, the dedication of its members and its national reach is the gold standard for any bar association.”

Gana Weinstein

Adam J. Gana | Managing Partner

“PIABA is the greatest bar association I have had the privilege of being a part of. PIABA and its membership have been instrumental in my growth and development as a securities litigation attorney in representing and fighting for investors. As a member of PIABA you will find many attorneys across the country who are willing to help you from sharing practice tips to arguments. There is no organization doing more good for the investing public than PIABA.”

Michael C. Bixby

Bixby Law PLLC | Founder & Managing Attorney