Diana Lloyd, co-chair of Choate’s Government Enforcement & Compliance Group, has over 25 years of experience helping clients to successfully manage federal and state government enforcement matters, internal investigations, and related business and securities litigation. Throughout her career, she has earned a strong reputation for dissuading governmental agencies from pursuing enforcement or criminal action against her clients.
Diana has extensive experience representing companies and individuals subjected to government investigations and prosecutions or in need of representation in connection with internal investigations of corporate and non-profit entities, including independent secondary schools and institutions of higher education.
A former Assistant U.S. Attorney for the District of Massachusetts in the Major Crimes and Economic Crimes Units, Diana investigated and prosecuted cases involving complex securities, insurance, defense contracting, tax and bank fraud; money laundering and RICO violations; and public corruption and other federal crimes. She has received numerous awards for excellence from the U.S. Attorney and various federal law enforcement agencies.
- Chambers USA
- Best Lawyers in America – named “Boston Lawyer of the Year” in Securities Litigation in 2018 and 2020
- Named a Massachusetts Super Lawyer since 2005, and named among the top 50 women and top 100 Massachusetts Super Lawyers
- Benchmark Litigation “Litigation Star”
- Defense of corporations, investment advisers and individuals in securities-related investigations, including whistleblower investigations, involving variety of civil and potentially criminal allegations.
- Representation of major pharmaceutical companies in federal investigations into sales and marketing practices.
- Representation of private independent schools and institutions of higher education in internal investigations and government investigations, including investigations relating to sexual misconduct, Title IX investigations and investigations of fraud.
- Representation of healthcare-related entities in government investigations.
- Provide FCPA advice to entities in connection with internal and government investigations.
- Representation of medical device company in qui tam whistleblower investigation and related civil action.
- Obtained reversal of federal criminal conviction for multi-year conspiracy involving alleged environmental fraud.
- Successful representation of individuals and entities investigated in federal public corruption investigations.
- Special Counsel to the Massachusetts Supreme Judicial Court, for the purpose of conducting an independent inquiry regarding the Massachusetts District Courts and the Boston Municipal Court.
- Defense of former executive of major medical device manufacturer who was acquitted of conspiracy to defraud the U.S. after a lengthy trial.
- Representation of senior executives accused of sophisticated financial fraud.
- Successful representation of numerous individuals in federal healthcare fraud investigations.
Publications and Presentations
- “Financial Crimes: Enforcement Trends & Topics,” panelist, Boston Bar Association Virtual White Collar Crime Conference, February 2021.
- “COVID Fraud Enforcement: Federal and State Actions and Priorities,” panelist, Boston Bar Association, January 2021.
- “Borrowers Beware: U.S. Attorney Announces New Initiative to Combat CARES Act Fraud,” author, Choate Alert, July 2020.
- “Three Steps to Take Now to Avoid Enforcement Risk Relating to New COVID-19-Related Federal Funds,” author, Choate Alert, April 2020.
- “Conducting and Closing Effective Workplace Investigations,” presenter, NAVEX Global Webinar, May 2018.
- “Health Care Fraud Developments,” moderator, Boston Bar Association White Collar Conference, January 2018.
- “2016-2017 Federal Developments,” moderator, Boston Bar Association Health Care Fraud CLE, Boston, May 2017.
- “2015-2016 Federal Developments,” moderator, Boston Bar Association Health Care Fraud CLE, Boston, May 2016.
- “1st Circ. Crime-Fraud Ruling Challenges Atty-Client Privilege,” co-author, White Collar Law360, February 2016.
- “2014-2015 Federal Developments,” moderator, Boston Bar Association Health Care Fraud CLE, Boston, May 2015.
- “Attorneys React to High Court’s Sarbanes-Oxley ‘Fish’ Ruling,” quoted, Securities Law360, February 2015.
- “Yates: A Welcome End to Prosecutorial ‘Fishing’ Expedition,” author, Securities Law30, February 2015.
- “Justices Smell Something ‘Fishy’ in Anti-Shredding Case,” co-author, White Collar Law360.
- “High Court To Go Fishing For Answers In Anti-Shredding Case,” co-author, White Collar Law360.
- “When Compliance and Audit Executives Blow the Whistle,” quoted, Compliance Week.
- “New DOJ Stance on False Statements May Bring Sea Change,” co-author, White Collar Law360.
- “2013-14 Federal Developments,” moderator, Boston Bar Association Health Care Fraud CLE, Boston.
- “Internal Investigations in Securities Matters,” moderator, Boston Bar Association.
- “What Judges Think of Binding Corporate Plea Agreements,” co-author, White Collar Law360.
- “SEC Admissions Policy After Falcone — Proceed with Caution,” co-author, White Collar Law360.
- “Federal Developments,” moderator, Boston Bar Association CLE Seminar - Health Care Fraud 2013: There Are New Sheriffs in Town, Boston.
- “Q&A With Choate’s Diana Lloyd,” featured, White Collar Law360.
- “$104M Whistleblower Award – A Sign of Things to Come,” co-author, Law360.
- “SEC/DOJ Developments and Outlook,” moderator, Boston Bar Association CLE Seminar - Securities Fraud 2012: Recent Developments in Enforcement and How SEC Administration Trials May Alter the Landscape, Boston.
- “Tough Comp Rules Anticipated Under Dodd-Frank Act,” quoted, Mass Lawyers Weekly.
- “Broadening Enforcement of Exec Compensation Clawbacks,” co-author, White Collar Law360.
- “Responding to Government Subpoenas and Search Warrants,” moderator, Boston Bar Association.
- “Five Questions Boards Must Ask About the Whistle-Blower Rule,” author, Agenda Week.
- “Liability Without Fault: New Enforcement Trends Against Corporate Executives,” co-author, Bloomberg Law Reports.
- “What Every Board Member Needs to Know,” panelist, Association for Corporate Growth Boston Women’s Executive Forum.
- “Meet the New US Attorney: A Program with Carmen Ortiz,” moderator, Boston Bar Association.
- “Legal Power Couple: Jordan Hershman and Diana Lloyd,” profiled, Law360.
- “Gain Insight from Varying States Surrounding Current and Pending Regulations,” moderator, CBI Pharmaceutical Compliance Congress.
Professional and Community Involvement
- Past President of the Boston Bar Foundation
- Prior member of the Boston Bar Association Council and Executive Committee
- Served on the Steering Committee of the Boston Bar Associate 2018 White Collar Conference
- Served as co-chair of the Steering Committee for the Criminal Section of the Boston Bar Association from 2008-2010
- Former member of the Board of Trustees of the Women’s Bar Foundation
- Served for six years as a member of the Federal Criminal Justice Act panel, accepting court appointments to represent indigent defendants in federal criminal cases
- Trustee of Gann Academy
- Active in Combined Jewish Philanthropies
- Member of Choate’s Diversity & Inclusion Committee, a former co-chair of the Firm’s Hiring Committee, and a former member of the Firm’s Executive Committee
Education & Credentials
New York University School of Law
JD, MA, 1989
Editor in Chief, New York University Law Review
St. Lawrence University
BA, 1984, Valedictorian, summa cum laude, Fulbright French Government Teaching Assistant
U.S. District Court, Massachusetts
U.S. Courts of Appeals, First & Third Circuits
- Honorable Amalya L. Kearse
- U.S. Court of Appeals, Second Circuit
Chambers USA Guide to America’s Leading Lawyers for Business recognized 28 Choate partners as leading counsel in their respective fields, with five receiving Band 1 rankings.
Research institutions and individual grantees will soon face increased National Institutes of Health requirements to disclose Other Support and Biographical Sketch information concerning foreign appointments and employment.
On February 1, 2021, Li Chen, a former researcher at Nationwide Children’s Hospital’s Research Institute in Columbus, Ohio, was sentenced to 30 months in prison for conspiring to commit wire fraud and steal scientific trade secrets to sell in China. Chen was also ordered to pay restitution of $2.6 million and forfeit approximately $1.45 million, 500,000 shares of Avalon GloboCare common stock, and 400 shares of GenExosome common stock.
Diana Lloyd is speaking on the Boston Bar Association Virtual White Collar Crime Conference panel “Financial Crimes: Enforcement Trends & Topics” on Thursday, February 4 at 2:15 p.m. EST.
Diana Lloyd and Rebecca Wilsker discuss updates to the Paycheck Protection Program, including the process for second draw loans, cases concerning loan fraud, and thoughts on addressing questionnaires for loans over $2 million.