Epstein Secrets

KIND, WHARTON & GARRISON LLP By: Brad S. Karp Eric S. Goldstein Jonathan Hurwitz Jessica S. Carey

fees and costs, pursuant to Rule 12700 of the Code of Arbitration Procedure for Customer Disputes. Dated: kflyikugust , 2011 Susman Godfrey LLP Kramer Levin Naftalis & Frankel LLP By: By: Stephen D. Susman Stephen M. Sinaiko Counsel for Claimants Freshfields Bruckhaus Deringer US LLP By: Marshall H. Fishman Gabrielle

SON LLP By: Brad S. Karp ([email protected]) Eric S. Goldstein ([email protected]) Jonathan

2011 Susman Godfrey LLP By: Stephen D. Susman 560 Lexington Avenue, 15th Floor New York, New York 10022 (212) 336-8330 Counsel for Claimants Kramer Levin Naftalis & Frankel LLP By: Stephen M. Sinaiko 1177 Avenue of the Americas New York, New York 10036 (212) 715-9100 Freshfields Bruckhaus Deringer US LLP By: Marshall

millions in January/2008.13 Standard & Poor's 11 Eric Dash, Clii Leaps a Hurdle and Faces More, N.Y. Tn

r, Stearns & Co. Inc. (Bq&Co.), and Bear Stearns Asset Management Inc. ("BSAM") (collectively, the "Bear Stearns Respondents"), by their attorneys, Kramer Levin Naftalis & Frankel LLP, respectfully submit this Statement of Answer. PRELIMINARY STATEMENT In this proceeding, highly sophisticated investors sock to recover losses the

KIND, WHARTON & GARRISON LLP By: Brad S. Karp Eric S. Goldstein Jonathan Hurwi Jessica S. Carey

2011 Susman Godfrey LLP By: Stephen D. Susman 560 Lexington Avenue, 15th Floor New York, New York 10022 (212) 336-8330 Counsel for Claimants Kramer Levin Naftalis & Frankel LLP By: Stephen M. Sinaiko 1177 Avenue of the Americas New York, New York 10036 (212) 715-9100 Freshfields Bruckhaus Deringer US LLP By: Marshall

JEFFREY JAYSON LEE EPSTEIN 6 EPSTEIN, JEFFREY ERIC THOMAS 7 EPSTEIN, JEFFREY DONALD J REED AND SAL

Court By: /s/ Deputy Clerk Copies to: Hon. Geoffrey W. Barnard Gregory H. Hodges, Esq. Maria Tankenson Hodge, Esq. Marshall H. Fishman, Esq. Kramer Levin Naftalis & Frankel LLP 919 Third Avenue, New York, NY 10022 Edward S. Feig, Esq. Arent, Fox, Klintner, Plotkin & Kahan, PLLC 1675 Broadway, 25th Floor New York, NY 100