FacultyFaculty/Author Profile

Matthew L. Larrabee

Dechert LLP

San Francisco, CA, USA


Matthew L. Larrabee has more than 25 years of experience in trial and appellate practice. He has served as lead counsel, including lead trial counsel, for leading businesses in the financial services, mutual fund, technology, and health care industries.

Mr. Larrabee has significant experience in financial institutions litigation, securities class actions, consumer class actions, private antitrust cases and other complex commercial litigation. He also has substantial experience in the creative use of mediation, third party neutrals and other alternatives to traditional trial proceedings.

Mr. Larrabee has been recognized for his work in commercial litigation by The Best Lawyers in America since 2007, Who’s Who in America and Who’s Who in American Law. He was also named among the San Francisco Business Times’ “2010 Best Lawyers in the Bay Area,” and The San Francisco Chronicle’s “San Francisco’s Top Attorneys” of 2012.

Significant Representations
  • Fixed Income Securities Litigation. Mr. Larrabee is currently defending one of the country's leading mutual fund complexes and its senior directors and officers in investorclass actions claiming over $2 billion in losses suffered on fixed income fund investments concentrated in credit default swaps, total return swaps, and various forms ofcommercial mortgage backed securities.
  • Futures Market Manipulation Claims. Mr. Larrabee is currently representing mutual funds advised by the world's largest fixed income investment manager in a Commodity Exchange Act class action alleging claims of market manipulation relating to ten-year Treasury futures contracts and the underlying cash commodity. The plaintiffs' alleged losses exceed $600 million.
  • Municipal Bond Class Actions. Mr. Larrabee is currently defending OppenheimerFunds, Inc., and its senior officers and directors, in multi-billion dollar MDL proceedings asserting claims by investors in seven municipal bond funds that invested in inverse floating rate securities and other allegedly volatile and illiquid securities.
  • Inverse Fund Class Action. Mr. Larrabee is currently representing Rydex SGI and its senior officers and directors, in a putative class action challenging the risk disclosures and alleged investor suitability of a leading inverse fund.
  • Fund D&O Insurance Issues. Mr. Larrabee provides advice and counseling to a number of mutual fund complexes on issues relating to maximizing their insurance benefits. In one instance, he has been selected as an arbitrator of a D&O insurance dispute.
  • AXA Rosenberg Coding Error. Mr. Larrabee is currently advising mutual fund clients in connection with a recent SEC order requiring AXA Rosenberg to distribute over
    $200 million to clients affected by a coding error in its quantitative investment management model.
  • Tribune Bankruptcy Claw Back Proceedings. Mr. Larrabee is currently representing mutual fund clients in connection with the creditor efforts in the Tribune bankruptcy
    proceeding, including a novel putative defendant class action, to claw back allegedly fraudulent transfers made by the debtor prior to the bankruptcy.
  • Madoff Securities Litigation. Mr. Larrabee is currently defending Oppenheimer Acquisition Corp., and several of its directors and officers, in investor actions arising out of the massive fraud perpetrated by Bernard L. Madoff.
  • ICI Representation. Mr. Larrabee has recently appeared as amicus curiae, representing the Investment Company Institute, opposite the Securities and Exchange
    Commission, in consolidated cases involving allegedly inappropriate investment concentrations in mortgage
    backed securities.
  • Corporate Trust Fraud Claims. The State of California pursued False Claims Act claims against three leading corporate trust operations, all of which retained Mr.
    Larrabee. In the largest case, the State and more than 300 political subdivisions sought more than $4 billion in damages from Bank of America. After the first phase of
    the trial, the court issued a tentative ruling favoring the bank on all points, which led to a creative mediation and successful settlement.
  • Trustee Fee Litigations. Mr. Larrabee represented three leading banks in trust beneficiary class actions over trustee fee overcharges. Mr. Larrabee tried one of those
    cases, in which the trial court rejected the plaintiffs' $200 million damage claim and upheld the propriety of the bank's voluntary refunds.
  • Leveraged Buyout Class Action. Mr. Larrabee represented senior officers and directors in a securities class action arising out of the leveraged buyout of one of the country's leading forest and paper products companies. After extensive motion practice and discovery, the case settled without any payment by these defendants.
  • In re Microsoft Antitrust Litigation. Mr. Larrabee served as co-lead counsel for Microsoft in a multi-billion dollar private antitrust suit brought against the company by Sun
    Microsystems. Microsoft selected Mr. Larrabee as lead trial counsel at his former firm and he led a large team defending the case, which settled favorably after several years of intense litigation.
  • Whole Foods Markets Antitrust Litigation. Mr. Larrabee helped defend Whole Foods Market, Inc., in the highly publicized proceedings brought by the Federal Trade Commission (FTC) arising from the company's merger with Wild Oats Markets, Inc. Whole Foods successfully defeated the FTC's request for a preliminary injunction,
    allowing the companies to consummate the merger, and ultimately settled with the FTC.
  • Class Action Precedents. Mr. Larrabee has served as lead counsel in consumer class actions on a range of topics, from forced placed insurance to overdraft fees,
    disclosures in mortgage lending, and plaintiffs' attorneys' fees. These cases included many issues of first impression that were fully litigated through appeals in which Mr. Larrabee argued on behalf of his client or the defense group.
  •  Guaranteed Student Loan Litigation. Mr. Larrabee served as a member of a team that defended a leading financial institution against claims exceeding $600 million, brought by 14 of the world's largest financial institutions, arising from a federal guaranteed student loan servicing failure. Mr. Larrabee led those aspects of the bank's defense that required comprehensive negotiations with federal student loan regulators, representation of the bank in Department of Justice and GAO investigations, and representation of bank officials in congressional hearings.
     
Education
  • University of California, Davis, B.A., 1977, With honors
  • University of California Hastings College of the Law, J.D., 1980, Thurston Honor Society, Order of the Coif, Editor-in-Chief of the Hastings Law Journal

Court Admissions
  • United States District Court for the Northern District of California
  • United States District Court for the Southern District of California
  • United States District Court for the Central District of California
  • United States District Court for the District of Colorado
  • United States Court of Appeals for the Ninth Circuit

Bar Admissions/Qualifications
  • California

Memberships
  • American Bar Association
  • State Bar of California
  • Bar Association of San Francisco
  • American Law Institute
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