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Securities Litigation Counsel RFP

Securities Litigation Counsel RFP

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Posted: 
June 20, 2013

The State Universities Retirement System of Illinois (SURS) is soliciting proposals to provide securities litigation monitoring and evaluation services for SURS.  Such services would be related to issues arising from SURS' interests in matters of securities litigation, whether under the PSLRA or otherwise (including potential actions involving securities purchased on foreign stock exchanges located outside the United States, as well as independent securities actions based on state law fraud claims). The firms selected in response to this RFP will constitute SURS' list of "approved counsel" in securities litigation actions.  While SURS will not be precluded from using counsel not on the approved list, SURS anticipates dealing with the firms selected through this RFP process.  SURS reserves the right to contract for all, any part or none of the services requested.  A firm submitting a proposal is referred to as "responder".

The SURS Board of Trustees has adopted the attached securities litigation policy.  Pursuant to this policy, SURS staff will identify and retain three to five firms to identify and evaluate those cases in which SURS has an interest, and notify the General Counsel of SURS of those cases which the firms believe meet SURS' criteria for action under the SURS Investment Policy, as it may be amended (the current Securities Litigation portion of the Investment Policy is attached as Exhibit A).  The firm would also be required, at least quarterly, to prepare reports describing its activities under the agreement.

Document Name Date Format Size Pages
Request for Proposal – Securities Litigation Counsel 06/20/13 pdf 100 K 10
Request for Proposal – Securities Litigation Counsel 06/20/13 doc 139 K 10
Exhibit A - Securities Litigation Counsel 06/20/13 pdf 22 K 2
Exhibit A - Securities Litigation Counsel 06/20/13 doc 29 K 2
Exhibit B - Securities Litigation Counsel 06/20/13 pdf 37 K 2
Exhibit B - Securities Litigation Counsel 06/20/13 doc 27 K 2
Exhibit C - Securities Litigation Counsel 06/20/13 pdf 16 K 1
Exhibit C - Securities Litigation Counsel 06/20/13 doc 36 K 1
Questions and Answers 07/08/13 pdf 52 K 2

Event Timeline:

Description Date
RFP issuance June 21, 2013
Deadline for questions to SURS July 5, 2013
Responses to questions submitted to SURS July 19, 2013
RFP responses due by 4:30 p.m. CST August 9, 2013
Finalists notified August 30, 2013
Finalists’ presentations - if needed September 12, 2013
Preliminary decision announced September 16, 2013
Contract negotiations begin September 17, 2013
Contracts awarded September 30, 2013
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