Larry Polk, a member of Sutherland’s Litigation Practice Group, represents broker-dealers, banks and accountants, and concentrates his practice in the areas of securities litigation, securities arbitration, professional liability litigation, commercial litigation and U.S. Securities and Exchange Commission (SEC) enforcement actions. He has spoken at numerous seminars on securities and sales practice issues including issues arising from the structured finance and subprime markets.
In connection with his securities litigation practice, Larry represents officers, registered representatives, investment advisors, banks and broker-dealers in a wide variety of proceedings in state and federal courts and before self-regulatory organizations such as Financial Industry Regulatory Authority (FINRA). He defends claims arising from transactions in a number of investment vehicles including stocks, bonds, mutual funds, options, variable products, foreign currencies, and structured finance products.
Larry defends banks in actions arising from the sale of debt and equity derivative products. He defends class actions filed against banks, accounting firms, underwriters and corporate officers. Over the past 20 years, Larry has tried numerous cases through award or verdict, and he has defended individuals and firms in dozens of FINRA arbitrations throughout the country involving sales practice issues. His experience in regulatory matters includes representing broker-dealers and individuals in enforcement proceedings, advising clients and performing special compliance audits.
REPRESENTATIVE EXPERIENCE Larry’s extensive representative experience includes:
- Zisholtz v. SunTrust Banks, Inc., 2009 WL 3132907 (N.D.Ga. 2009) (Dismissal, with prejudice, of class action filed on behalf of auction rate securities investors for failure to adequately plead fraud claims.)
- Power & Telephone Supply Company Inc. v. SunTrust Banks, Inc., 447 F.3d 923 (6th Cir 2006) (duties owed by derivatives dealers).
- BDO Seidman LLP v. Mindis Acquisition Corp., 249 Ga. App. 668, 549 Ga. 311, 578 S.E.2d 400 (2003) (appropriate measure of damages for negligent misrepresentation claim).
- White v. BDO Seidman LLP, 249 Ga. App. 668, 549 S.E.2d 490 (2001) (reliance as a necessary element of negligent misrepresentation claim).
- GCA Strategic Investment Fund v. Joseph Charles & Associates Inc., 245 Ga. App. 460, 537 S.E.2d 677 (2000) (enforcement of merger clause in securities purchase agreement).
- Krauth v. Executive Telecard Ltd., 1994 WL 584556 (S.D.N.Y. 1994) (proxy solicitation disclosures).
PROFESSIONAL HONORS AND AWARDS
- Selected for inclusion in Georgia Super Lawyers® (2010-2012)
PROFESSIONAL AND COMMUNITY INVOLVEMENT
- Member, Securities Litigation Subcommittee, American Bar Association
- Member, Compliance and Legal Division, Securities Industry and Financial Markets Association
- Member, Southeastern Regional Board of Directors, Anti-Defamation League
RECENT PUBLICATIONS AND SPEAKING ENGAGEMENTS
- Co-author, “Getting to Know You: Getting to Know All About FINRA’s New Suitability & Know-Your-Customer Rules,” The Wall Street Lawyer (April 2012)
- Co-author, “SEC approves FINRA's overhaul of its Discovery Guide,” Journal of Investment Compliance (October 3, 2011)
- Co-author, “Blowing the Whistle: New SEC Rules Set the Stage for Increased Reporting of Potential Securities Law Violations,” Practical Compliance & Risk Management for the Securities Industry (September-October 2011)
- “Significant changes to FINRA's Know Your Customer and Suitability rules to take effect in 2011” Journal of Investment Compliance (June 17, 2011)
- Co-author, “FINRA's Expanded Obligations For Broker-Dealers,” Securities Law360 (February 18, 2011)
- Co-author, “The Changing Definition of ‘Accredited Investor’ Under the Dodd-Frank Act,” Partnering Perspectives (Winter 2010)
- Co-author, "Broker-Dealers, Fiduciary Duties and Enhanced Conduct Standards Under the Financial Reform Act," Practical Compliance & Risk Management for the Securities Industry (September–October 2010)
- Co-author, "The Evolving Scope of a Stockbroker’s Duties in the Wake of Holmes v. Grubman," Practical Compliance and Risk Management for the Securities Industry (July–August 2010)
- Co-Author, "Financial Reform 101 - For Broker Dealers," Financial Services Law360 (July 27, 2010)
- Co-author, “The Market Meltdown and Mutual Fund Investors: Likely Claims and Several Potential Defenses,” Securities Regulation & Law Report (April 26, 2010)
- Co-author, “Georgia’s Take On Holmes v. Grubman,” Law360 (March 9, 2010)
- Author, “FINRA arbitration claims expected to continue increasing beyond 2009,” Compliment (January 6, 2009)
- Author, “Class Action Issues Arising From Auction Rate Securities Litigation,” CADS Report (Fall 2008)
- Co-author, “A Guide to the Regulatory No Man’s Land of Over-the-Counter Interest Rate Swaps,” Banking Law Journal (May 2007)
- Speaker, “Securities Considerations,” Entity Selection: Beyond the Basics (December 5, 2011)
- Speaker, Sutherland Securities Symposium (December 7, 2010)
- Speaker, “Investor Lawsuits: Defending Against Claims Arising From Loan Modifications and Mortgage-Backed Securities,” 4th National Forum on Residential Mortgage Litigation & Regulatory Enforcement (October 27–28, 2009)
- Speaker, The Recent Debt Crisis and How It is Affecting FINRA Arbitration (June 2, 2009)
- Speaker, Sutherland Securities Symposium (April 21, 2009)
- Speaker, Webinar: "What You Need to Know About FINRA Arbitration" (March 31, 2009)
- Speaker, Sutherland Securities Symposium (October 30, 2008)
- Speaker, Subprime Litigation & Enforcement Conference (October 28–29, 2008)
- Speaker, Auction Rate Securities: Compliance Issues on the Horizon (August 26, 2008)
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