Michael R. MacPhail

Securities Litigation

Mike handles investigations and litigation by securities regulators and has testified at trial as an expert witness regarding securities matters. He has significant experience with the following agencies:

• U.S. Securities and Exchange Commission (SEC)
• Financial Industry Regulatory Authority (FINRA)
• Public Company Accounting Oversight Board (PCAOB)
• Colorado Division of Securities
• Colorado Board of Accountancy
• Other state securities regulators in the Western United States

Shareholder and Cryptocurrency Disputes and Litigation

Mike defends corporations, officers and directors against claims by shareholders, including claims brought as putative class actions or as derivative claims, including those brought under Section 10(b) of the Securities Exchange Act of 1934 and state “blue sky” laws. Mike has particular experience in prosecuting or defending statutory or common law claims involving alleged fraud, fraudulent concealment and breach of fiduciary duty. Mike has represented a number of cryptocurrency companies in private disputes involving, among other things, short-selling and disclosure issues.

Financial Services Litigation Involving Consumer Lending, Advertising and Franchise Regulation

Mike also represents clients in disputes concerning advertising, consumer lending, mortgage foreclosures, debt collection/debt management and franchisee issues. During these disputes, he deals with the Federal Trade Commission (FTC), the Commodity Futures Trading Commission (CFTC), the Colorado Department of Regulatory Agencies (DORA) and the Colorado Attorney General’s Office.

Representing Investment Advisers and Public Companies

Mike has particular experience defending publicly held companies and their officers and directors, broker-dealers and investment advisers, and accounting firms and CPAs during government investigations. He responds to pre-litigation subpoenas, prepares clients for testimony and responds to “Wells notices” of intended charges.

Representative Experience

• Represented NYSE-listed public company in an SEC investigation of suspected insider trading/”tipping” by a former executive
• Led internal investigation for board of NYSE-listed public company involving an SEC investigation of false statements involving its customer
• Defended large privately held construction company and publicly traded medical device company in SEC investigations of alleged accounting improprieties by customers acting as the clients’ counterparties, resulting in the SEC asserting no claims against the clients
• Represented Fortune 50 public company in SEC investigation of its financial restatement, resulting in favorable settlement
• Defended investment advisory firm in SEC investigation of alleged fee overcharges and accompanying inadequate disclosures, resulting in favorable settlement

Government Experience

After working for the U.S. Court of Appeals for the D.C. Circuit, where he advised panels of judges including current U.S. Supreme Court Justice Clarence Thomas and former Justice Ruth Bader Ginsburg, Mike served for 13 years as an enforcement attorney with the SEC.

Personal Interests

When he isn’t practicing law, Mike enjoys biking, downhill skiing and running, as well as helping reunite adoptees with their birth families.