Carl Patterson has over 40 years of experience in complex commercial litigation and led Smith Anderson’s Commercial Litigation practice group from 1985-2010. His practice includes representing diverse organizations and individuals including, financial institutions; issuers and purchasers of securities; officers; directors; lenders; professional advisors; and buyers and sellers of both businesses and of goods and services.
Carl also counsels clients to identify, evaluate, avoid and manage risk in a variety of corporate and commercial contexts.
On the corporate governance and compliance side, Carl works closely with the executive management teams and boards of directors of public companies and advises with respect to executive and director compensation, reporting and disclosure obligations, takeover defense, activist shareholder issues, proxy fights, government and internal and investigations, directors' duties and responsibilities, strategic alternatives and matters in mergers and acquisitions.
Carl is certified by the North Carolina Dispute Resolution Commission to conduct Mediated Settlement Conferences in Superior Court. He also is trained in Collaborative Law and serves on the board of directors of the North Carolina Civil Collaborative Law Association.
Carl served as the firm's managing partner from 2010-2015.
Professional & Community Affiliations
- American Bar Association
- American Judicature Society
- Fellow, Litigation Counsel of America
- Member, Fourth Circuit Judicial Conference
- North Carolina Bar Association
- Litigation, Business Law and Law Practice Management Sections
- Chairman, Young Lawyers Division
- Wake County Bar Association
- Board of Visitors, Davidson College
- Chairman, Raleigh Area Davidson College Alumni Admissions Program
- National Chair, Parents’ Council, University of North Carolina
Honors & Awards
- Chambers USA: America’s Leading Business Lawyers, Litigation: General Commercial (2005-2020)
- Best Lawyers®, Commercial Litigation; Litigation - Mergers & Acquisitions; Litigation-Securities (2006-2021)
- Best Lawyers®, “Lawyer of the Year,” Raleigh Litigation - Securities (2013)
- Business North Carolina Legal Elite
- Benchmark Litigation, North Carolina State Litigation Star (2008-2020)
- Martindale-Hubbell AV Preeminent Rated
- Selected to moderate an “All Star” panel in a CLE program, “Complex Litigation in the North Carolina Business Court,” presented at a joint meeting of the Anti-Trust Section of the North Carolina Bar Association and the North Carolina Association of Defense Attorneys
- Selected to participate as one of the State’s “All-Star” litigators in a mock trial CLE program, “All-Star Trial of a Business Case,” North Carolina Bar Association Litigation Section’s Annual Meeting (2004)
- North Carolina Super Lawyers (2006-2020)
- Brought claims in North Carolina’s Business Court on behalf of an investor for breach of contract and fiduciary duty arising out of an unauthorized $95 million investment as part of a securities lending program.
- Brought claims on behalf of an investor in a real estate investment fund, seeking recovery of losses incurred when the fund failed to refund the investment in a timely manner, as required under the governing documents.
- Advised client in connection with dispute over multi-billion-dollar supply contract.
- Represented client in connection with government investigation relating to financial reporting.
- Defended bond trustee in federal court in New York against claims of breach of contractual and fiduciary duties in connection with furniture retailer’s issuance of $1 billion in asset-backed bonds.
- Defended bond trustee in federal court in North Carolina against claims for breach of fiduciary duty arising out of a retailer’s issuance of over $200 million in asset-backed bonds.
- Defended class and collective action in federal court in North Carolina alleging violations of state and federal employment laws. Class exceeded 100,000 present and former employees.
- Defended the CEO of the Seller of two subsidiaries against claims by Buyer of misrepresentation in the sale and violation of state and federal securities laws. The case resulted in a jury verdict for the defense, after a multi-week trial.
- Defended as co-counsel 19 consolidated securities fraud class actions in federal court in North Carolina. The Fourth Circuit affirmed dismissal of the cases, setting important precedent on the issue of loss causation.
- Defended shareholder litigation in North Carolina Business Court alleging unfairness of management buyout/going private transaction. Settled, allowing transaction to close.
- Defended as co-counsel a class action securities fraud suit filed when client “missed a quarter.” The case settled prior to hearings on defendants’ motions to dismiss.
- Advised client in connection with consumer class action in federal court in South Carolina against state lottery ticket retailers, in which plaintiffs alleged misrepresentation in lottery ticket sales. Defendants’ motion to dismiss was granted.
- Defended a manufacturer of environmental monitoring equipment against claims that its equipment had contaminated biological products produced by the plaintiff, causing in excess of $50 million in damages.
News & Publications
- 2021 Best Lawyers® and The Best Lawyers: Ones to Watch Recognize Largest Group of Smith Anderson Lawyers in Firm’s History08.20.2020
- Chambers USA, 04.23.2020
- North Carolina Super Lawyers® Selects 24 Smith Anderson Lawyers as 2020 Super Lawyers and Nine Additional Lawyers as Rising Stars01.22.2020
- Benchmark Litigation Honors Smith Anderson’s Litigation and Employment Litigation Groups and 12 LawyersBenchmark Litigation, 10.14.2019
- Smith Anderson Leads “Best Lawyers®” Rankings with 71 Recognized Lawyers and 11 “Lawyers of the Year” - Most of Any Raleigh Law FirmThe Best Lawyers in America©, 08.20.2019
- North Carolina Super Lawyers Recognizes Forty Smith Anderson Lawyers as Super Lawyers and Rising Stars in 2019Super Lawyers, 01.24.2019
- Benchmark Litigation, 10.16.2018
- 2018 North Carolina Super Lawyers Recognizes Forty-three Smith Anderson Lawyers as Super Lawyers and Rising Stars01.25.2018
- 2017 The Best Lawyers in America© Guide Recognizes 62 Smith Anderson Lawyers – Most in the Firm’s History08.15.2016
- 2016 The Best Lawyers in America© Guide Lists 60 Smith Anderson Lawyers – Most in the Firm’s History08.17.2015
- Smith Anderson Announces 49 of its Firm Lawyers are Named a “Best Lawyer” by The Best Lawyers in America® 201308.29.2012
- North Carolina Court of Appeals Affirms Plasma Centers of America’s $37 Million Verdict Against Talecris Plasma Resources08.08.2012
- Chambers USA 2012 Distinguishes Twelve Smith Anderson Partners Among America’s Leading Lawyers for Business06.07.2012
- Chambers USA 2011 Recognizes Eleven Smith Anderson Partners Among America’s Leading Lawyers for Business06.15.2011
Bar & Court Admissions
- Supreme Court of the United States of America
- U.S. District Court of Appeals for the Fourth Circuit
- U.S. District Courts for the Eastern, Middle and Western Districts of North Carolina
- All North Carolina State Courts
University of North Carolina, J.D., with honors, 1976
Davidson College, B.A., 1973