People

Lori A. Martin

Partner

Martin, Lori A.

Lori Martin is an experienced litigation and enforcement attorney whose practice focuses on litigation and regulatory proceedings involving investment advisers, open and closed-end investment companies, hedge funds, and broker dealers offering investment advisory services. She was selected as the “Mutual Funds Law Lawyer of the Year” in the New York area by the Best Lawyers in America® 2014.

In various editions of Chambers USA, clients praise Ms. Martin as a "very smart and knowledgeable" and "incredibly hard-working and smart" practitioner, "an excellent negotiator" and "a practical and intelligent adviser," and she is "held in high regard for her expertise in handling complex securities litigation related to mutual funds." The Legal 500 United States describes her as "an unparalleled star, being very smart, conscientious and experienced with both commercial and regulatory litigation."

Publications

  • "UPDATE: Lower Courts Interpret the Supreme Court's Decision in Janus Capital Group, Inc. v. First Derivative Traders, " WilmerHale Client Alert (April 2, 2012) (with Thomas W. White, Douglas J. Davison, Christopher Davies, Michael A. Mugmon, Jaclyn Moyer, Joel Fleming and Lesley Fredin)
  • "Litigation Under the Investment Company Act of 1940," Vol. 2, Chapter 26 Mutual Fund Regulation (Practicing Law Institute, 2008 and 2011) (Clifford E. Kirsch, ed.)
  • "Enforcement Trends and Themes," Investment Management Institute (Practicing Law Institute, 2011) (with Carol Schepp and Tuongvy Le)
  • "Supreme Court Endorses Gartenberg, But It's Not the Same Old Standard, " WilmerHale Client Alert (April 5, 2010) (with Matthew A. Chambers)
  • "Enforcement Trends and Themes," Investment Management Institute (Practicing Law Institute, 2010) (with David Zetlin-Jones and Kimberly N. Chehardy)
  • "Supreme Court Hears Argument on Jones v. Harris," WilmerHale Client Alert (November 5, 2009)
  • "Supreme Court Agrees to Review Jones v. Harris Associates," WilmerHale Client Alert (March 9, 2009)
  • "Enforcement Trends and Themes," Investment Management Institute (Practicing Law Institute, 2009) (with David Zetlin-Jones)
  • "2009 Revised Form N-1A and Summary Prospectus Outline," WilmerHale Client Alert (March 2009) (with Matthew A. Chambers, Stuart E. Fross and Kasey E. Lindsay)
  • "Enforcement Trends and Themes," Investment Management Institute (Practicing Law Institute, 2008) (with David Zetlin Jones)
  • "Enforcement Trends and Themes," Investment Management Institute (Practicing Law Institute, 2007) (with David Zetlin Jones)
  • "State Regulators and the Mutual Fund Industry," 39 The Review of Securities & Commodities Regulation 219 (Nov. 15, 2006) (with Cristina Alger)
  • "Emails and the Recordkeeping Obligations of Investment Advisers," 12 The Investment Lawyer 16 (February 2005)
  • "The Post-Central Bank Liability of Secondary Actors," 30 The Review of Securities & Commodities Regulation 153 (June 18, 1997)
  • "The Right to a Jury Trial in Federal Securities Actions," 29 The Review of Securities & Commodities Regulation 175 (September 11, 1996) (with James N. Benedict)
  • "California State Measure Poised to Reject Recently Enacted Federal Securities Reforms," 10 InSights: The Corporate & Securities Law Advisor 26 (August 1996)
  • "The Trial of a Securities Case: Selected Issues and Strategies," ALI-ABA Course of Study (May 1997) (with James N. Benedict and Sean M. Murphy)
  • "Intellectual Property Law, Second Circuit Decisions," Annual Review of Developments in Business and Corporate Litigation, American Bar Association Section on Business Law, Committee on Business and Corporate Litigation (1998, 1999, 2000, 2001, 2002, 2003 and 2004 editions)

Honors & Awards

  • Recognized for exceptional securities litigation practice in the 2010-2017 editions of Chambers USA: America's Leading Lawyers in Business.
  • Recommended by The Legal 500 United States for securities litigation: defense.
  • Elected member of the American Law Institute.
  • Named the 2014 New York Mutual Funds Law "Lawyer of the Year" by Best Lawyers, and is also recognized as one of the Best Lawyers in America for 2010-2018. 
  • Named a "New York Super Lawyer" for Securities Litigation in New York (Metro) for 2007, 2008, 2010-2017.
  • Selected by peers and clients to the 2014 Benchmark Litigation Top 250 Women in Litigation list.
  • Honorable mention as in-house counsel in the Merrill Lynch Research Class Action Securities Litigation, "Big Suits," The American Lawyer, September 2003.

Publications & News

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August 16, 2017

WilmerHale Lawyers Named Among the 2018 Best Lawyers in America®, Nine Recognized as Lawyers of the Year

Best Lawyers in America®—the oldest and most respected peer-review publication in the legal industry—recognizes 107 WilmerHale lawyers and names nine partners as Lawyers of the Year in its 24th edition.

May 26, 2017

WilmerHale Lawyers and Practices Recognized in 2017 Edition of Chambers USA

Chambers and Partners announced its rankings for the 2017 edition of Chambers USA: America's Leading Lawyers for Business, with WilmerHale listed among the nation's best in 50 practice area categories. Chambers also ranked 86 WilmerHale lawyers as leaders in their respective fields.

August 15, 2016

WilmerHale Lawyers Named Among the 2017 Best Lawyers in America®, Six Recognized as Lawyers of the Year

Best Lawyers in America®—a respected peer-review publication in the legal industry—recognizes 101 WilmerHale lawyers and names six partners as Lawyers of the Year in its 23rd edition.

May 27, 2016

WilmerHale Lawyers and Practices Recognized in 2016 Edition of Chambers USA

Chambers USA: America's Leading Lawyers for Business announced its final rankings for the 2016 edition, with WilmerHale ranking among the nation's best in 47 practice area categories. Chambers also ranked 82 WilmerHale lawyers as leaders in their respective fields.

May 19, 2015

WilmerHale Practices, Lawyers Ranked Among Nation’s Best by Chambers USA

Chambers USA: America's Leading Lawyers for Business announced its final rankings for the 2015 edition, with WilmerHale ranking among the nation's best in 46 practice area categories. Chambers also ranked 86 WilmerHale attorneys as leaders in their respective fields.

April 2, 2014

Best Lawyers Recognizes WilmerHale Women Lawyers

For the past twenty years, Best Lawyers has published the special edition of “The Best Lawyers in America,” the nation’s oldest peer-reviewed lawyer publication.

August 6, 2013

The Hedge Fund Law Report Covers WilmerHale, Deloitte Webinar “Valuation Issues, SEC Examinations & Enforcement Actions”

On June 19, 2013, WilmerHale and Deloitte hosted a webinar entitled “Valuation Issues, SEC Examinations & Enforcement Actions.”

May 22, 2013

Partner Lori Martin Elected to American Law Institute’s Council

Recently, Partner Lori Martin was elected to the American Law Institute’s (ALI) Council, a group of prominent judges, lawyers and legal scholars who serve as the governing body for the US-based organization.

October 10, 2012

Former, Current WilmerHale Partners Elected to American Law Institute

April 2, 2012

UPDATE: Lower Courts Interpret the Supreme Court's Decision in Janus Capital Group, Inc. v. First Derivative Traders

Last summer, the Supreme Court held, in Janus Capital Group, Inc. v. First Derivative Traders, Inc., that a defendant may only be held liable for securities fraud in a private action brought under Rule 10b-5(b) of the Securities Exchange Act of 1934 if it was the "person or entity with ultimate authority" over the alleged misstatement. This alert examines the divergent paths that the lower courts have taken in applying the Janus decision.

Speaking Engagements

  • "Investment Management: Enforcement and Litigation Trends," panel presentation at the Practising Law Institute: Investment Management Institute 2018 conference (New York, New York) (March 22-23, 2018)
  • "Key Legal and Regulatory Issues:  Asset Management," panel presentation at the SIFMA Compliance & Legal Regional Seminar (Boston, Massachusetts) (June 7, 2017)
  • "Excessive Fee Litigation," panel presentation at the Basics of Mutual Funds and Other Registered Investment Companies 2017 conference, sponsored by the Practising Law Institute (New York, New York) (April 20, 2017)
  • "Enforcement and Litigation Trends," panel presentation at the Practising Law Institute: Investment Management Institute 2017 conference (New York, New York) (March 24, 2017)
  • "Investment Management Enforcement Issues," panel presentation at the NERA 16th Securities & Finance Summer Seminar (Park City, Utah) (July 5, 2016)
  • "Excessive Fee Litigation," panel presentation at the Basics of Mutual Funds and Other Registered Investment Companies 2016 conference, sponsored by the Practising Law Institute (New York, New York) (April 28, 2016)
  • "Enforcement and Litigation trends," panel presentation at the Practising Law Institute: Investment Management Institute 2016 conference (New York, New York) (March 4, 2016)
  • "Conducting an Investigation into Fraud and Misappropriation," panel presentation at the National Society of Compliance Professionals 2015 National Conference (Washington, DC) (November 3, 2015)
  • "Hot Issues, Preparing for SEC Exams, and Proactive Protection," panel discussion at the Financial Research Associate's Investment Advisor Compliance Summit (New York, New York) (July 16, 2015)
  • "Enforcement Issues and Investigations," panel discussion at the Managed Funds Association Compliance 2015 Conference (New York, New York) (May 5, 2015) 
  • "SEC Insights for Hedge Funds," panel discussion co-sponsored by PwC and WilmerHale (New York, New York) (April 30, 2015)
  • "Excessive Fee Litigation," panel presentation at the Basics of Mutual Funds and Other Registered Investment Companies 2015 conference, sponsored by the Practising Law Institute (New York, New York) (April 30, 2015) 
  • "Commencement of a Civil Action: Filing the Complaint, Preparing the Motion to Dismiss, Coordinating Multiple Actions," panel presentation at PLI Securities Litigation 2015: From Investigation to Trial (New York, New York) (April 22, 2015)
  • "Enforcement and Litigation trends," panel presentation at the Practising Law Institute: Investment Management Institute 2015 conference (New York, New York) (March 5-6, 2015)
  • Co-Chair, American Conference Institute's 4th National Forum on Securities Litigation & Enforcement (New York, New York) (January 22-23, 2015) 
  • "Securities Litigation & Enforcement Case Law Year in Review: Inside the Year's Top Securities Cases and How They Will Dictate the Future of Prosecution and Defense," panel presentation at the American Conference Institute's 4th National Forum: Securities Litigation & Enforcement conference (New York, New York) (January 22-23, 2015)
  • “Excessive Fee Litigation,” panel presentation at the Basics of Mutual Funds and Other Investment Companies 2014 conference, sponsored by the Practising Law Institute (New York, New York) (April 23, 2014)
  • “Litigation Trends,” panel presentation at the Investment Management Institute 2014 program, sponsored by the Practising Law Institute (New York, New York) (March 7, 2014)
  • “The Use of Scheme Liability in a Post-Janus Climate,” panel presentation at the American Conference Institute's 3rd National Forum on Securities Litigation & Enforcement (Washington, DC) (February 28, 2014)
  • Co-Chair, American Conference Institute's 3rd National Forum on Securities Litigation & Enforcement (Washington, DC) (February 27-28, 2014)
  • "Capital Recovery: Duties and Responsibilities of the Investment Adviser," panel presentation at the Institutional Investor Legal Forum Winter Roundtable (New York, New York) (February 4, 2014) 
  • “Regulatory and Enforcement Trends and Developments Affecting Investment Advisers, Investment Companies and Private Funds,” panel presentation at the American Bar Association Business Law Section Fall Meeting (Washington, DC) (November 22, 2013)
  • “Valuation Issues, SEC Examinations & Enforcement Actions,” panel presentation on a webinar co-sponsored by Deloitte & WilmerHale (June 19, 2013)
  • “SEC Focus on Private Fund Advisers,” panel presentation at the Global Capital Markets & the U.S. Securities Laws 2013 conference, sponsored by the Practising Law Institute (New York, New York) (June 5, 2013)
  • “Current Legal and Ethical Issues for Counsel in Investment Management Regulation," panel presentation for the Association of the Bar of the City of New York (New York, New York) (May 14, 2013)
  • “Excessive Fee Litigation,” panel presentation at the Basics of Mutual Funds and Other Investment Companies 2013 conference, sponsored by the Practising Law Institute (New York, New York) (April 24, 2013)
  • “The US Litigation and Enforcement Environment and its Effect on Cayman Directors,” presentation for the Alternative Investment Management Association (Grand Cayman, Cayman Islands) (April 18, 2013)
  • “Current Topics in Valuation,” panel presentation at the Mutual Fund Directors Forum 2013 Policy Conference (Washington, DC) (April 10, 2013)
  • “Litigation,” panel presentation at the Investment Management Institute 2013 program, sponsored by the Practising Law Institute (New York, New York) (March 8, 2013)
  • “Monitoring and Testing Compliance Programs,” panel presentation at the Investment Adviser Association Compliance Workshop (Boston, Massachusetts) (October 16, 2012)
  • “SEC Enforcement and Exams: Lessons Learned,” panel presentation at the Investment Adviser Association Compliance Workshop (Boston, Massachusetts) (October 16, 2012)
  • “Hedge Funds: The Current Enforcement Landscape,” sponsored by 100 Women in Hedge Funds and WilmerHale (New York, New York) (September 13, 2012)
  • “Implications of the New Regulatory Era,” panel presentation at the Ernst & Young Mutual Fund Seminar 2012: Taking Aim At the Future (Boston, Massachusetts) (June 7, 2012)
  • “Litigation Involving Mutual Funds,” panel presentation at the Fundamentals of Mutual Funds and Exchange-Traded Funds 2012 conference, sponsored by the Practising Law Institute (New York, New York) (June 6, 2012)
  • “SEC Enforcement Issues for Advisers,” panel presentation at the IAA Investment Adviser Compliance Conference (Washington, DC) (March 8, 2012)
  • “Litigation,” panel presentation at the Investment Management Institute 2012 program, sponsored by the Practising Law Institute (New York, New York) (February 10, 2012)
  • “SEC Enforcement Developments,” presentation at the Boston Financial Data Services Chief Compliance Officer Transfer Agency Due Diligence Forum (Boston, Massachusetts) (November 15, 2011)
  • “Whistleblower Rules,” panel presentation at the Investment Adviser Association Compliance Workshop (Chicago, Illinois) (October 13, 2011)
  • “Insider Trading/Expert Networks,” panel presentation at the Investment Adviser Association Compliance Workshop (Chicago, Illinois) (October 13, 2011)
  • “Trends and Updates to the SEC Inspection Program,” panel presentation at the ACA Compliance Group Fall 2011 Compliance Program (Scottsdale, Arizona) (September 14, 2011)
  • “Litigation Involving Mutual Funds,” panel presentation at the Fundamentals of Mutual Funds and Exchange-Traded Funds 2011 conference, sponsored by the Practising Law Institute (New York, New York) (June 8, 2011)
  • “Legal and Ethical Issues for Investment Counsel,” panel presentation sponsored by the Investment Management Regulation Committee of the New York City Bar (New York, New York) (May 23, 2011)
  • “Keeping Up With the Examiners: Understanding The Moving Parts of the Custody Rule,” panel presentation at the National Regulatory Services 26th Annual Spring Investment Adviser and Broker Dealer Compliance Conference (Miami, Florida) (May 18, 2011)
  • “Mutual Fund Civil Litigation: The Year in Review,” panel presentation at the Mutual Funds and Investment Management Conference, sponsored by the Investment Company Institute and the Federal Bar Association (Palm Desert, California) (March 29, 2011)
  • “Litigation and Enforcement,” panel presentation at the Investment Management Institute 2011 program, sponsored by the Practising Law Institute (New York, New York) (February 11, 2011)
  • “The New SEC Enforcement and Investigation Paradigm,” panel presentation at the National Regulatory Services/Investment Adviser Association Investment Management Regulatory Compliance Conference (New York, New York) (November 10, 2010)
  • “The New Paradigm: Trends in SEC Examinations and Enforcement Proceedings,” panel presentation at the National Regulatory Services 25th Annual Fall Compliance Conference (Scottsdale, Arizona) (October 5, 2010)
  • “Litigation Involving Mutual Funds,” panel presentation at the Fundamentals of Mutual Funds 2010 conference, sponsored by the Practising Law Institute (New York, New York) (June 9, 2010)
  • “Mutual Fund Sales Practices,” panel presentation at the Securities Industry and Financial Markets Association Compliance and Legal Division Annual Seminar (National Harbor, Maryland) (May 7, 2010)
  • One-Hour Briefing: “Jones v. Harris Associates and the Supreme Court's Ruling on Advisers' Fees,” sponsored by the Practising Law Institute (April 20, 2010)
  • “Litigation Horizon,” panel presentation at the Investment Company Institute and Independent Directors Council conference on Jones v. Harris: Impact and Implications (Washington, DC) (April 14, 2010)
  • “Litigation and Enforcement,” panel presentation at the 2010 Investment Management Institute, sponsored by the Practising Law Institute (New York, New York) (April 8, 2010)
  • “Ethical Decision-Making and Lessons Learned from SEC Enforcement Cases,” panel presentation at National Regulatory Services webinar for adviser compliance officers (March 11, 2010)
  • “Risk Management Workshop for Large Firms (AUM Over $10B),” panel presentation at the Investment Adviser Association and ACA Insight 2010 Investment Adviser Compliance Forum (Arlington, Virginia) (February 26, 2010)
  • “Regulation on the Horizon,” panel presentation at the Hedge Fund Institutional Forum Senior Delegates Roundtable (Miami, Florida) (February 25, 2010)
  • “Duties of the In-House Counsel,” panel presentation for the Financial Research Associates Webinar Series on "Ethics: Managing the Challenges Facing Financial Services Attorneys" (November 23, 2009)
  • “Enforcement and Litigation Trends,” panel presentation at the Hofstra Journal of International Business Law Conference on Investment Management Law (Hempstead, New York) (October 9, 2009)
  • “Litigation and Insurance Issues,” panel discussion at the 2009 Independent Council Roundtable, sponsored by the Independent Directors Council (Washington, DC) (July 23, 2009)
  • “Litigation and Enforcement," panel presentation at the 2009 Investment Management Institute, sponsored by the Practising Law Institute (New York, New York) (April 3, 2009)
  • “Mutual Fund Sales Practices,” panel presentation at Securities Industry and Financial Markets Association Compliance and Legal Division Annual Seminar (Phoenix, Arizona) (March 23, 2009)
  • “SEC Mutual Fund Summary Prospectuses: Implications and Compliance,” panel presentation at WilmerHale webinar (March 10, 2009)
  • “Litigation Against Investment Advisers,” panel presentation at the Herbert L. Jamison & Co. Hedge Fund Workshop (New York, New York) (December 9, 2008)
  • “Attorney-Client Privilege and SEC Examinations,” panel presentation at American Bar Association 2008 Section of Business Law Fall Meeting (Washington, DC) (November 21, 2008)
  • “Gartenberg Excessive Fee Litigation: A Briefing on the Implications of the Seventh Circuit's Recent Rejection of Gartenberg,” presentation at WilmerHale Investment Management Lunch Series (Boston, Massachusetts) (June 30, 2008)
  • “Litigation and Enforcement,” panel presentation at the 2008 Investment Management Institute, sponsored by the Practising Law Institute (New York, New York) (April 25, 2008)
  • “Internal Investigations,” panel presentation at the Securities Industry and Financial Markets Association Compliance and Legal Division Annual Seminar (Orlando, Florida) (April 2, 2008)
  • “SEC Examinations,” panel presentation at the Independent Directors Council 2007 Investment Company Directors Conference (San Francisco, California) (November 28, 2007)
  • “Code of Ethics,” panel presentation at the Investment Adviser Association Compliance Workshop (New York, New York) (November 8, 2007)
  • “Best Execution,” panel presentation at the Investment Adviser Association Compliance Workshop (New York, New York) (November 8, 2007)
  • “SEC Examinations,” panel presentation at the Independent Directors Council 2007 Investment Company Directors Conference (Washington, DC) (November 6, 2007)
  • “Current Securities Issues,” panel presentation at the West LegalWork's 17th Annual Litigation & Resolution of Complex Class Actions Workshop (New York, New York) (October 24, 2007)
  • “Emerging Practices for Audit Committees,” panel presentation at the PriceWaterhouseCoopers 2007 Financial Services Audit Committee Forum (New York, New York) (October 4, 2007)
  • “Regulatory Update, Enforcement Actions and Developments in the Private Client Business,” panel presentation at the Securities Industry and Financial Markets Association Compliance and Legal Division Chicago Regional Seminar (Chicago, Illinois) (June 7, 2007)
  • Financial Planning Association v. SEC: Fee Based Brokerage,” panel presentation at the Securities Industry and Financial Markets Association General Lunch (New York, New York) (May 15, 2007)
  • “Litigation and Enforcement,” panel presentation at the 2007 Investment Management Institute, sponsored by the Practising Law Institute (New York, New York) (April 13, 2007)
  • “Private Litigation and Regulatory Enforcement Actions,” panel presentation at the 2007 Mutual Funds and Investment Management Conference, co-sponsored by the Federal Bar Association and the Investment Company Institute (Palm Desert, California) (March 28, 2007)
  • “Current Issues in Securities Class Actions,” panel presentation at the West LegalWorks Litigation and Resolution of Complex Class Actions (New York, New York) (November 29, 2006)
  • “SEC Inspections and Examinations," panel presentation at the Investment Adviser Association Compliance Workshop (San Francisco, California) (November 15, 2006)
  • “Annual Compliance Reviews,” panel presentation at the Investment Adviser Association Compliance Workshop (San Francisco, California) (November 15, 2006)
  • “State Enforcement: The New Frontier,” panel presentation at the West LegalWorks 10th Annual Investment Management Compliance Summit (New York, New York) (September 27, 2006)
  • “Hot Topics for Today's Hedge Funds: Recent Hedge Fund Enforcement Actions by the SEC,” panel presentation at the Jefferson Wells and WilmerHale Hedge Fund Round Table (New York, New York) (June 21, 2006)
  • “Addressing the Gap Between the SEC and the States,” panel presentation at the Financial Research Associates 5th Annual Investment Adviser Compliance Forum (New York, New York) (May 19, 2006)
  • “A Brave New World: Responding to Regulators,” panel presentation at the ICI Mutual Risk Management and Fraud Prevention Meeting (San Diego, California) (April 3, 2006)
  • “Implementing, Analyzing and Monitoring an E-Mail and Instant Messaging Compliance Program,” panel presentation at the Financial Markets World 2006 CCO Training Series Chief Compliance Officer Workshop (New York, New York) (March 15, 2006)
  • “Current Issues in Securities Class Action,” panel presentation at the Glasser LegalWorks Litigation and Resolution of Complex Class Actions, (New York, New York) (December 1, 2005)
  • “Responsibilities and Procedures for Class Action Settlements,” panel presentation at the Investment Adviser Association Compliance Workshop (Dallas, Texas) (November 3, 2005)
  • “Developing Effective Brokerage and Trading Policies and Procedures, including Soft Dollar Developments,” panel presentation at the Investment Adviser Association Compliance Workshop (Dallas, Texas) (November 3, 2005)
  • “Fund Trustees in the New Environment: Liability and Compliance,” panel presentation at the Deloitte & Touche LLP and Directors Roundtable program on Investment Challenges in a Turbulent Time (Boston, Massachusetts) (May 24, 2005)
  • “How Litigation Trends Affect IA Compliance,” panel presentation at the Financial Research Associates 3rd Annual Investment Adviser Compliance Forum (New York, New York) (May 17, 2005)
  • “The Post-Spitzer Landscape,” panel presentation at the ICI Mutual Insurance Company Risk Managers Conference (April 21, 2005)
  • “Sharing Privileged Information with the Government: Is It Still Privileged As Against Private Securities Litigants?” panel presentation at the 2005 Mutual Funds and Investment Management Conference, co-sponsored by the Federal Bar Association and the Investment Company Institute (Palm Desert, California) (March 15, 2005)
  • “The Obligations to Preserve and Produce E-data in Discovery: Duty to Preserve and Spoliation Issues,” panel presentation at the MarcusEvans Conference on The Legal and Strategic Guide to E-Discovery: Best Practices for Corporate Counsel (New York, New York) (November 12, 2004)
  • “Recordkeeping and E-Mail Policies,” panel presentation at the Glasser LegalWorks Investment Management Compliance Conference (New York, New York) (June 14, 2004)
  • “The Impact of Sarbanes-Oxley on Investment Companies,” panel presentation at the ICI Mutual Insurance Company Risk Managers Conference (November 7, 2002)
  • “SEC Inspections and Investigations,” panel presentation at the ICI Mutual 2001 Risk Management and Fraud Prevention Meeting (April 20, 2001)
  • “Recent Developments in Litigation Under the Investment Company Act of 1940,” panel presentation at the 2001 Mutual Funds and Investment Management Conference, co-sponsored by the Federal Bar Association and the Investment Company Institute (Palm Desert, California) (March 19, 2001)

Recent Highlights

  • Representation of an investment adviser in a class action alleging violations of Section 10(b) of the Securities Exchange Act of 1934 in connection with alleged omissions regarding the transfer agent's profit margin and provision of services to the funds managed by the investment adviser. The United States District Court for the Southern District of New York dismissed the action with respect to 102 of the 105 mutual funds in a fund family on the ground that the named plaintiff lacked standing to pursue claims for mutual funds that it neither purchased nor sold. In re Smith Barney Transfer Agent Litig., No. 05-Civ-7583 (WHP), 2011 U.S. Dist. LEXIS 10977 (SDNY Jan. 25, 2011).
  • Representation of an investment adviser in an ERISA class action in connection with the management of the cash collateral pool for the securities lending program provided to a Trust Fund in which plaintiff invested. Plaintiff, a defined contribution plan, alleged that the investment adviser breached its duties of prudence and loyalty by investing the cash collateral pool in asset backed securities. The United States District Court for the District of Massachusetts dismissed the action on the ground that the named plaintiff lacked Article III standing because it had not suffered any actual injury. Fishman Haygood Phelps Walmsley Willis & Swanson LLP v. State Street Corporation, No. 1:09-10533-PBS, 2010 U.S. Dist. LEXIS 28496 (D. Mass. March 25, 2010).
  • Representation of a broker-dealer and affiliated investment adviser in a securities class action lawsuit challenging prospectus disclosures for mutual fund B-shares. The United States Court of Appeals for the Third Circuit affirmed dismissal of the lawsuit. DeBenedictis v. Merrill Lynch & Co., Inc., 492 F.3d 209 (3d Cir. 2007).
  • Representation of an investment adviser in a securities class action lawsuit challenging advisory compensation under Section 36(b) of the Investment Company Act of 1940. The United States District Court for the Northern District of California denied plaintiffs’ motion to certify a class of investors. Strigliabotti v. Franklin Resources, Inc., No. C-04-0883 SI (N.D. Cal. Sept. 27, 2006).
  • Representation of mutual fund advisers and hedge funds in regulatory investigations conducted by the SEC and state enforcement agencies.
  • Representation of the underwriting syndicate in a securities class action challenging prospectus disclosures in the Refco 144A private placement and initial public offering of Refco stock. The United States District Court for the Southern District of New York dismissed the claims on the grounds that the Securities Act of 1933 did not apply to Rule 144A private placements. In re Refco, Inc. Sec. Litig., No. 05 Civ. 8626 (GEL), 2007 U.S. Dist. Lexis 31969 (S.D.N.Y. April 30, 2007) and 2008 U.S. Dist. Lexis 62543 (S.D.N.Y. Aug. 14, 2008).

Professional Activities

Ms. Martin is a frequent participant in industry conferences regarding the investment advisory industry and complex litigation. She has authored numerous publications on securities litigation. She is a member of the following committees and bar associations:  

  • Member, The American Law Institute (ALI) Council
  • Member, Investment Management Regulation Committee, Association of the Bar of the City of New York
  • Vice Chair, Investment Companies and Investment Advisers Subcommittee of the Committee on Federal Regulation of Securities, Business Law Section, American Bar Association
  • Member, Hedge Funds Subcommittee of the Committee on Federal Regulation of Securities, Business Law Section, American Bar Association

Practices

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Education

JD, cum laude, University of Chicago Law School, 1988, University of Chicago Law Review

AB, Political Science (with Departmental Honors) and Sociology, magna cum laude, Wellesley College, 1985

Bar Admissions

New York

District of Columbia

Pennsylvania

Clerkships

The Hon. W. Eugene Davis, US Court of Appeals for the Fifth Circuit, 1988 - 1989

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