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Lori H. Patterson

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Lori Patterson, chair of the Financial Services Litigation & Compliance Group, represents broker-dealers, registered investment advisers, financial institutions, and public companies in securities litigation and arbitration, regulatory matters, and SEC and SRO investigations and actions.

Featured Videos

Understanding and Applying the CFP Board's New Code of Ethics and Standards of Conduct November 20, 2019
How to Prepare for the SEC's New Standards of Conduct Rulemaking Package August 28, 2019

Featured Experience

Defended broker-dealer in federal court action alleging violations of federal and state securities laws, aiding and abetting breach of fiduciary duties, and commercial bribery in the wake of the bankruptcy of a registered investment adviser.

Defended broker-dealer in civil litigation and in securities arbitrations arising out of sale of CDO products.

Defended third-party witnesses, regional center and other participants in investigations related to Immigrant Investor Program (EB-5) offerings. Received clearance letters from Enforcement Staff for all clients.

Professional Biography

Overview

These matters include customer initiated arbitrations and litigation; enforcement proceedings and investigations by the SEC, self-regulatory organizations and state securities regulators; and intra-industry disputes such as "raiding" claims, claims related to non-competition agreements, the theft of trade secrets and injunctive proceedings. Specifically Ms. Patterson has extensive experience in defending claims and regulatory actions related to private placements and alternative investments.

In addition to her securities related work, Ms. Patterson also has broad experience in governmental entity defense. She regularly handles litigation involving state and federal constitutional claims against governmental entities, as well as claims involving government contractors and the white collar criminal defense of government officials or claims of official misconduct.  

Prior to joining Baker Donelson, Ms. Patterson held a clerkship with The Honorable John C. Godbold, United States Court of Appeals for the Eleventh Circuit from 1997 to 1998. Ms. Patterson works from our Memphis office.

Representative Matters
  • Securities Litigation and Defense of Broker-Dealers and Registered Investment Advisers

  • Successfully defended broker-dealer and registered representatives in FINRA arbitration in case involving the sale of alternative real estate investments that resulted in the election of a conservation easement.

  • Successfully defended broker-dealer in FINRA arbitration in case involving the sale of non-traded REITs.

  • Defended registered investment adviser in state court action in case arising out of recommendations to purchase CDO products. Summary judgement affirmed on appeal.

  • Defended broker-dealer in SEC investigation involving L Shares. Received clearance letter from Enforcement Staff.

  • Defended broker-dealer in federal court action alleging violations of federal and state securities laws, aiding and abetting breach of fiduciary duties, and commercial bribery in the wake of the bankruptcy of a registered investment adviser.

  • Defended broker-dealer in civil litigation and in securities arbitrations arising out of sale of CDO products.
  • Defended third-party witnesses, regional center and other participants in investigations related to Immigrant Investor Program (EB-5) offerings. Received clearance letters from Enforcement Staff for all clients.

  • Defending municipal advisor in ongoing SEC investigation.

  • Defend broker-dealer in SEC investigation into municipal bond offering. No action taken.

  • Defended broker-dealer in FINRA arbitration related to sale of CDO products.

  • Defended public company and officers in SEC Enforcement Action. Received settlement with no monetary penalty.

  • Frequent representation of broker-dealers and investment advisers in connection with regulatory cycle and for cause examinations.

  • Frequent representation of broker-dealers and registered investment advisers in litigation and in arbitrations involving claims of unsuitability, unauthorized trading, misrepresentation, churning, failure to supervise and breach of fiduciary duty.

  • Frequent defense of broker-dealers and registered investment advisors in SEC enforcement actions.
  • Frequent defense of broker-dealers and their registered representatives in FINRA enforcement actions.
  • Frequent representation of broker-dealer firms, registered investment advisers, registered representatives and third-party witnesses in responding to subpoenas, document requests from regulators, informal inquiries and formal investigations involving securities offerings, investment banking activities, alleged sales practice violations, failure to supervise and other matters.

  • Defended a broker-dealer in a class action concerning due diligence performed as lead underwriter on bond deal. Obtained dismissal of case on the pleadings.

  • Defended broker-dealer through trial in lawsuit concerning due diligence performed as lead underwriter on bond deal.

  • Successfully defended public corporation in shareholder derivative action, obtaining dismissal of the case on the pleadings.
  • Successfully brought suit against former employees who attempted to raid clients and/or usurp corporate opportunities.
  • Defended issuers of private placements in SEC Enforcement Actions alleging Section 5, Section 17 and 10b-5 claims.

  • Municipal/Governmental Defense/Election Law

  • Represented two largest school systems in Tennessee on claims regarding the adequacy of educational funding.

  • Successfully represented local governmental entity through trial related to one of the largest school system consolidations in the country.

  • Represented individuals challenging dual majority election requirements under the United States Constitution and the Voting Rights Act.
  • Defended municipality through trial and appeal on claims involving the regulation of the billboard industry. Won dismissal on appeal after trial.

  • Successfully briefed and argued First Amendment case to the Sixth Circuit on behalf of a municipality accused of violating the First Amendment rights of individuals who were potential owners of adult entertainment businesses.
  • Successfully represented municipality on Voting Rights Act claims.
  • Successfully represented municipality on zoning matters, including claims alleging violations of due process and equal protection.
  • Successfully represented municipality in forcing state election officials to place referendum questions on ballot in face of constitutional questions.
  • Successfully represented candidate in bringing suit to have his name placed on the ballot over objections of election commission.
  • Successfully represented elected officials through appeal to the Tennessee Supreme Court challenging term limits.
Professional Honors & Activities
  • Listed in The Best Lawyers in America® in Commercial Litigation (2015 – 2021); Municipal Litigation (2018 – 2021); Securities Regulation (2020 – 2021); Arbitration (2021)
  • Named the Best Lawyers' 2021 Memphis Securities Regulation "Lawyer of the Year"
  • Listed in Mid-South Super Lawyers in Securities Litigation (2012 – 2019)
  • Listed in Mid-South Rising Stars (2011)
  • Founder – Memphis Chapter of the Homeless Experience Legal Protection (HELP) Clinic, legal clinic servicing homeless individuals
  • Board Member – Community Alliance for the Homeless
  • Member – Tennessee, Alabama and American Bar Associations
  • Past Member – Leo Bearman, Sr. Inn of Court
  • Adjunct Professor – Legal Research and Writing, University of Memphis School of Law (2001 – 2002)
Publications
  • "SEC/FINRA Guidance Signals that Broker-Dealers Must Strengthen Branch Exam Processes" (December 2011)
Speaking Engagements

Education

  • Cumberland School of Law, Samford University, J.D., 1997, summa cum laude
    • Articles Editor – Cumberland Law Review, 1996 – 1997
    • Cordell Hull Research and Writing Teaching Fellowship, 1997
  • University of the South, B.S., 1993

Admissions

  • Tennessee, 1999
  • Alabama, 1997

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