EXHIBIT 3SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK ————— ANTHONY V. LOTITO, JR., Individually And Derivatively In The Name And Right Of LBB Holdings USA, LLC, Plaintiff, Index No. 07/600045 ) ) ) ) ) ) ) -against- ) ) Honorable Bernard J. Fried ) ) ) ) ) ) ) ) ) ) R. HUNTER BIDEN, JAMES B. BIDEN, PARADIGM CAPITAL MANAGEMENT, INC., PARADIGM FOUNDERS, LLC, PARADIGM EPC LLC, PARADIGM COMPANIES, LLC, BG EQUITY PARTNERS, LLC, BG EQUITY INVESTORS, LLC, BGPC ADVISORS, LLC, LBB HOLDINGS USA, LLC and JOHN DOES NOS. 1-10, Defendants, ee AFFIDAVIT OF JAMES B. BIDEN IN OPPOSITION TO MOTION FOR SUMMARY JUDGMENT STATE OF PENNSYLVANIA +) COUNTY OF MONTGOMERY } 7 JAMES B. BIDEN, being duly sworn, deposes and says: 1. Tam submitting this affidavit in opposition to the motion for partial Summary judgment filed by Anthony V. Lotito, J. (“Lotito”) in this litigation on March 1, 2007. 1 am familiar with the facts and circumstances set forth in this affidavit. Lotito and I met in 2002 through a mutual acquaintance, Tom Scotto. 3. later introduced Lotito to my nephew, R. Hunter Biden, 4, Lotito represented himself to me.as a fully licensed and accredited securities professional, and as a licensed and accredited financial advisor, who had extensive business dealings advising multiple public and private pension funds on how to‘manage their investments. Lotito also represented himself as a person who had sufficient Personal credit to be able to obtain financing for sophisticated business transactions. 5. In addition, Lotito represented himself as being intimately involved as an advisor to the manager of a group of hedge funds (the “Paradigm Hedge Funds”) that Management, Inc. collectively were owned and operated by Defendants Paradigm Capi PCM’), Paradigm Founders, LLC (“Founders”), Paradigm EPC, LLC (“EPC”), Paradigm Companies LLC (“PLC”), and their principal, Dr. James Park. Indeed, he even Claimed to have developed the marketing plan for the Paradigm Hedge Funds, 6. Lotito made these representations to me from the beginning of my acquaintanceship in 2002 — long before I or any of the parties to this litigation engaged in any business transactions with Lotito. 7. Inearly 2006, Hunter Biden informed me that he had been presented with an opportunity to acquire an ownership interest in the Paradigm Hedge Funds. 8. Because of Lotito’s prior representations of his intimate knowledge of those particular funds, Hunter and I contacted Lotito to discuss the acquisition opportunity. Lotito again represented to both of us that: a. He was a fully licensed and accredited securities professional: b. He was a fully licensed and accredited financial advisor ¢. He had significant experience with advising multiple private and public pension funds; 4. He had a personal credit rating sufficient to raise capital for financing a sophisticated business transaction;