ExecuSummit hosted this annual conference in New York City on 16-17 May 2007 to examine developments, challenges, and opportunities in the directors and officers (D&O) insurance industry. NERA Senior Vice President Dr. Vinita Juneja delivered a presentation, entitled "Options Backdating Litigation and Investigation," in which she provided extensive information on issues in options backdating, including an overview of accounting implications, consequences, and restatement of tax effects. Specifically, Dr. Juneja described the real and perceived effects of Sarbanes Oxley; explain how to handle investigations and ensuing class action, derivative, and ERISA litigation; and provide a legal perspective on backdating cases and D&O exposure.