FacultyFaculty/Author Profile
Mark Holland

Mark Holland

Goodwin Procter LLP

New York, NY, USA


Mark Holland is a partner in the firm's Litigation Department and a member of its Securities Litigation & SEC Enforcement Practice. He joined Goodwin Procter in 2009.

Work for Clients

Mr. Holland has over 30 years of experience defending securities class actions and shareholder derivative suits. He is one of the most experienced mutual fund litigators in the country. He also has extensive experience defending issuers, underwriters and directors  in public offering litigation and securities fraud litigation.

Mr. Holland has  represented investment advisors and directors in a wide variety of litigation under the Investment Company Act  of 1940 and related statutes. He successfully argued the leading case holding that no implied private rights of action exist under the 1940 Act, Olmsted v. Pruco Life, 283 F.3d 429 (2d. Cir. 2002.  In one of the leading cases involving merger s and acquisitions of investment managers, he defeated shareholder challenges under  the 1940 Act to the merger of Mellon Bank and Dreyfus, Olesh v. Dreyfus 1995 WL 500491 (EDNY 1995), and more recently defended the merger of Citigroup’s and Legg Mason’s investment management businesses in Garber v. Legg Mason, Inc. 347 Fed. Appx. 665 (2d Cir. 209). He argued and won the first cases holding that mutual fund shares are subject to the Securities Litigation Uniform Standards Act (“SLUSA”), Riley v. MLPF&S, 292 F.3d 1334 (11th Cir. 2002).  He defended Alliance Bernstein in civil litigation arising out of market timing allegations, In re Mutual Funds Investment Litig., 04 MDL 1586 (D. Md. 2004); Merrill Lynch Investment Management in class actions arising out of purportedly conflicted analyst research reports, In re Merrill Lynch & Co. Research Reports Litig., 272 F.Supp. 2d 243 (SDNY 2003); and the Independent Trustees of the Reserve Primary Fund in litigation brought in connection with that fund’s “breaking the buck” September 2008, In re The Reserve Fund Sec Litig., 1:09 MD 2011 (SDNY). In the excessive fees area, he argued and won summary judgment dismissing conflict of interest allegations under Section 36(b) of the 1940 Act in Green v. FAM, 286 F.3d 682 (3d Cir. 2002);  served as lead counsel for Merrill Lynch  and Alliance Bernstein  in obtaining dismissal of revenue sharing allegations under Section 36(b) in In re Alliance Bernstein Mut. Funds Litig., 2006 W.L. 74439 and In re MLIM Funds Sec. Litig., 434 F. Supp. 2d 233 (SDNY 2000), and has represented the Independent Directors of the Franklin-Templeton Funds and the Hartford Funds in Section 36(b) cases.

Mr. Holland also has defended many of the country’s major financial institutions in some of the most significant  securities litigations of the past decade, including: representing Merrill Lynch in  coordinated class actions alleging market manipulation in connection with over 300 technology IPOs, In re IPO Sec. Litig., 471 F.3d 24 (2d Cir. 2006); representing Citigroup in class action litigation arising out of the collapse of Parmalat, In re Parmalat, 376 F.Supp 2d 472 (SDNY 2005); and representing Bank of America/Countrywide  in litigation brought by monoline insurers arising out of the mortgage market meltdown, including MBIA v. Countrywide, 87 A.D. 3d 287, 928 N.Y.S. 2d 229 (1st Dep’t 2011).

Professional Activities

Mr. Holland serves on the Committee on Investment Management Regulation of the New York City Bar and previously served on the Committee on Securities Litigation.

Professional Experience

Prior to joining Goodwin Procter, Mr. Holland was a partner in the New York office of Clifford Chance, where he served as co-head of the U.S. Securities and White Collar/Regulatory Practice Group.

Recognition

In 2010, Mr. Holland was named Independent Counsel of the Year at the 17th Annual Mutual Fund Industry Awards ceremony, sponsored by Fund Action and Fund Directions. He repeatedly has been recognized by Chambers USA as one of the leading individuals in securities litigation in New York and nationwide. He has spoken at numerous industry conferences and CLE seminars on securities and mutual fund litigation.

Mark Holland is associated with the following items:
Web Segment  Web Segment Fund Litigation - Basics of Mutual Funds and Other Registered Investment Companies 2017, Friday, April 21, 2017
MP3 Audio  MP3 Audio Fund Litigation - Fund Litigation, Friday, April 21, 2017
Transcripts  Transcripts Fund Litigation - Fund Litigation, Friday, April 21, 2017
MP4 - Mobile Video Seg  MP4 - Mobile Video Seg Fund Litigation - Fund Litigation, Friday, April 21, 2017
On-Demand Web Programs  On-Demand Web Programs Basics of Mutual Funds and Other Registered Investment Companies 2017, Monday, May 01, 2017, New York, NY
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