McGuireWoods Continues Financial Services Litigation Expansion With Addition of Two San Francisco Partners

April 4, 2016

McGuireWoods continues the strategic expansion of its nationally recognized financial services litigation practice with the addition of partners Marc A. Lackner, a former head of Bank of America’s mortgage litigation group, and Carolee A. Hoover in the firm’s new San Francisco office.

At McGuireWoods, Lackner and Hoover rejoin San Francisco office managing partner David C. Powell and partner David S. Reidy. All are former members of Reed Smith’s financial industry group.

“We’ve assembled a litigation team with exceptional depth and breadth of experience to help our financial services clients succeed in an era of unprecedented challenges for the industry,” said Thomas E. Cabaniss, McGuireWoods’ managing partner. “We’re proud that these outstanding lawyers have joined us.”

“Marc’s class-action skills are well known to many of us at McGuireWoods and his insights will benefit our clients immensely,” said Brad Kutrow, chair of the firm’s Financial Services Litigation Department. “We also know that Carolee’s extensive experience managing complex litigation will add tremendous value.”

Lackner’s practice focuses on consumer finance class-action litigation and enforcement matters, particularly mortgage, credit card and deposit banking issues. He moved to Reed Smith in 2012 after 15 years at Bank of America where he was an associate general counsel managing the mortgage litigation group. When Bank of America acquired Countrywide Financial in 2008, Lackner assumed responsibility for the bank’s combined mortgage litigation, which grew to more than 7,000 open litigation matters, including over 200 class actions.

“McGuireWoods has an excellent litigation team and I’m looking forward to building on that success to serve our financial services clients,” Lackner said.

Hoover handles litigation related to mortgages, reverse mortgages, and automobile, marine vessel and aircraft loans. She defends clients in matters involving alleged violations of the Fair Credit Reporting Act, federal and state debt collection statutes, mortgage foreclosure and repossession laws, and loan modification and other servicing-related claims. She also handles complex commercial litigation, including contract disputes and insurance coverage controversies.

“McGuireWoods’ accomplished financial services litigation team is known nationally for client service excellence and I’m proud to join this world-class firm,” Hoover said.

McGuireWoods was named “Law Firm of the Year” for banking and finance litigation in the 2016 edition of U.S. News-Best Lawyers “Best Law Firms.” In addition, McGuireWoods is among the highest-ranked firms in 2016’s “BTI Litigation Outlook” report, honored as a “Powerhouse” for complex commercial litigation and as a “Standout” for class actions. BTI ranked McGuireWoods sixth out of more than 300 firms on its 2016 “Client Service A-Team,” which highlights an elite group of firms singled out for their client service excellence based on feedback from clients in major companies.