Tom Gorman of Porter Wright Morris & Arthur LLP moderates this important program by Frank Razzano of Pepper Hamilton LLP, Ray Banoun of Cadwalader, Wickersham & Taft LLP, and Alice S. Fisher, Esq., Latham & Watkins LLP, who discuss honest services fraud in the private sector. Honest services fraud is an ill-defined term which has deeply split the circuits. Does it require a breach of fiduciary duty? If so, is the source of the breach of duty state or federal law? Must the defendant foresee actual harm or intend to cause actual harm? Must the defendant intend to achieve a private gain? Can materiality substitute for foreseeable harm, intent to cause harm or intent to achieve private gain? Some have suggested that it is so vague as to be unconstitutional. Join our presenters as they explore all these concepts and try to predict where the Supreme Court will end up in its decision in U.S v. Black.