Legal Power Couple: Jordan Hershman & Diana Lloyd

By Abigail Rubenstein

Law360, New York (February 10, 2010) -- When securities litigators and future spouses Jordan Hershman and Diana Lloyd first met, they each fell in love — with the other's legal talent.

“I first fell in love with Jordie as a lawyer. I had such respect for his intellect, drive and determination, and I still have it,” Lloyd said.

Luckily, the feeling was mutual.

“We met working together, and I fell in love with her as a lawyer,” Hershman echoed. “Diana is brilliant and tenacious.”

While Hershman and Lloyd, who married in 1994, still cherish each other's legal skills, the pair no longer work together. Hershman is now the co-chair of the securities litigation practice at Bingham McCutchen LLP, and Lloyd serves as the co-chair of Choate Hall & Stewart LLP's government enforcement and compliance practice group.

When they met, Hershman and Lloyd were both honing their talents as associates at Skadden Arps Slate Meagher & Flom LLP's Boston office. Now, they agree that while having similar practices helps them understand each other, ending up at different firms has been good for their relationship.

“It's important that we each do our own separate things and then come together on the home front,” Lloyd explained.

But the pair's two practices do overlap.

Hershman focuses his practice on securities litigation defense, business litigation and intellectual property matters, and he regularly represents companies and their management in investigations brought by the SEC and other regulators.

He is currently serving as lead counsel to Freddie Mac in several securities class actions and derivative actions.

Lloyd advises clients facing federal and state government enforcement matters, internal investigations and related business and securities litigation.

Lloyd, who spent four years as an assistant U.S. attorney in Boston, has plenty of trial experience, but has also had success in dissuading governmental agencies from pursuing any enforcement or criminal action against her clients.

Despite the similarities in the work they do, Hershman and Lloyd said they had never competed against one another for a piece of business.

“We consider the fact that we have similar practice areas to be a plus, not a minus. We completely understand the stresses and challenges that the other one faces, and that helps us be better lawyers and better spouses,” Hershman said.

In their respective careers, Hershman and Lloyd share a fascination with the intricacies of securities matters and a commitment to producing results for their clients.

Hershman became interested in securities defense work early in his career as an associate at Gibson Dunn & Crutcher LLP. Attracted to the high stakes of securities litigation, he kept with it through his move to Skadden and during a stint at Testa Hurwitz Thibeault LLP before decamping to Bingham.

Along the way, Hershman represented a number of notable clients, including Deloitte & Touche LLP, Novell and Kopin Corp.

“I'm most proud of obtaining a number of successful early dismissals of cases against folks who didn't do anything wrong,” Hershman said.

Lloyd's interest in the securities area was sparked when she was exposed to high-profile white collar cases while clerking in the U.S. Court of Appeals for the Second Circuit.

Realizing that government investigations can have calamitous consequences for corporations and individuals, Lloyd, who had also worked as an associate at Sullivan & Cromwell LLP, steered her career in its present direction during her time at Skadden.

After joining Choate, she took a brief detour to the other side when she joined the U.S. attorney's office in Boston, but eventually returned to Choate.

“I've been both a prosecutor and a defense attorney. The high points for me have been those times when I have felt that I have worked my hardest and gotten a great result for my client — whether that client was the U.S government, an individual or a major corporation,” Lloyd said.

Lloyd and Hershman both appreciate having a spouse who comprehends the demands that go along with trying to deliver results in such a high-stakes arena.

“We both have a great amount of passion for what it is that we do,” Hershman said.

The passion Hershman and Lloyd share for the law must be infectious, because their 14-year-old daughter Elana has already declared her intention to follow in her parents' footsteps.

“When she wants to convince us to do something, she will dress up like a lawyer and ask my husband to be the judge. Then she’ll make her case, put her brother on the witness stand, and articulate the reasons we should do what she wants,” Lloyd said.

Elana is keeping her options open, though. She is undecided about whether to become a prosecutor or a defense attorney, her parents said. Her brother Jacob, 11, hasn't shown an interest in the family business yet.

The family plans to spend Valentine's Day hunkered down at their house in Stowe, Vt., where they go to ski.

Skiing was a large part of Lloyd's upbringing, but Hershman had never tried it before he met her, so about a year into their relationship Lloyd subtly bought him all the ski equipment he could possibly need as a birthday gift.

“I told him if we were going to be together, we were going to ski together,” Lloyd recalled.

The sport quickly became a shared hobby. And when Elana and Jacob came along, it turned into an activity the whole family could enjoy together.

Lloyd had gone to Vermont with her own parents growing up, and as the spot became increasingly special to the family they created, Lloyd and Hershman decided to buy their own place for the family to stay during ski excursions.

“It's our haven, and being there together on Valentine's Day will make it very special,” Hershman said.