Michael Mugmon is a counsel in the firm's Litigation/Controversy and Securities Departments, and a member of the Securities Litigation and Enforcement Practice Group. He joined the firm's Washington, DC office in 2003 and moved to the firm's Palo Alto, California office in 2007 as a founding member of that office's Securities practice. Mr. Mugmon also serves on the firm's Pro Bono and Community Service Committee and on the Palo Alto office's Hiring Committee.
Practice
Mr. Mugmon's practice focuses on securities litigation and government enforcement actions. He has represented public companies, officers and directors, accounting firms and broker-dealers in litigation in state and federal courts and in proceedings before the US Securities and Exchange Commission, the US Attorney's Office and the Financial Industry Regulatory Authority. He has experience in matters related to financial fraud, breach of fiduciary duty, accounting irregularities and insider trading.
Honors and Awards
- Burton Award for Legal Achievement, 2011
- Recognized as a "Rising Star" in the 2011 edition of Northern California Super Lawyers
Recent Highlights
- Represented major public semiconductor company in merger dispute in first confidential arbitration to be litigated in the Delaware Court of Chancery
- Defending investment management firm in non-public SEC inquiry involving adequate disclosure of principal transactions
- Favorably resolved SEC civil enforcement action against former CFO of McAfee, Inc. in federal district court in Northern District of California
- Achieved extremely favorable settlements for two investment banks in multi-plaintiff challenge to short-selling practices in California state court
- Represented major broker-dealer in FINRA inquiry concerning sales of variable life insurance contracts, or “variable life settlements”
- Obtained dismissal of key claims against board chairman of public technology company in major class action and derivative litigation involving allegations of stock options backdating and disclosure violations in federal and state court in California
- Assisted a Big Four accounting firm in a securities fraud class action lawsuit in federal district court in Illinois, which resulted in a favorable settlement agreement
- Successfully resolved SEC enforcement action and ensuing civil litigation against former CEO of public software company in federal district court in Colorado
- Secured dismissal of a securities class action complaint alleging fraudulent misrepresentations and insider trading against public issuer and individual clients in federal district court in the District of Columbia (In re XM Satellite Radio Holdings Sec. Litig., Fed Sec. L. Rep. 94,190 (D.D.C. Mar. 28, 2007))
- Defeated a motion for class certification in revenue recognition securities fraud action against public issuer and individual clients in federal district court in North Carolina (In re Red Hat, Inc. Sec. Litig., No. 5:04-cv-00473-BR (E.D.N.C. May 11, 2007))
Publications
- "Supreme Court Curtails Ability of Plaintiffs to Hold Secondary Actors Liable in Private Securities Fraud Actions," WilmerHale Client Update (Jun. 29, 2011) (co-authored with Lori A. Martin, Thomas W. White, Douglas J. Davison, Christopher Davies and Jaclyn Moyer)
- "Supreme Court Rejects Proving Loss Causation as a Requirement for Class Certification in Securities Fraud Class Actions," WilmerHale Client Update (Jun. 16, 2011) (co-authored with John A. Valentine, Christopher Davies, Douglas J. Davison and Kelly Shoop)
- "Supreme Court Rejects 'Bright-Line' Materiality Rule in Securities Cases," WilmerHale Client Alert (Mar. 29, 2011) (co-authored with Randall R. Lee, Jonathan A. Shapiro and John A. Valentine)
- "SEC Provides Further Guidance on Cooperation Credit," WilmerHale Client Alert (Feb. 17, 2011) (co-authored with Douglas J. Davison and Christopher Davies)
- "SEC's First Non-Prosecution Agreement Exemplifies Government Trend Toward Soliciting Cooperation, Raises New Questions," WilmerHale Client Alert (Jan. 11, 2011) (co-authored with Douglas J. Davison and Christopher Davies)
- “Seeing Green,” The Deal magazine (June 21, 2010).
- "Court Ruling Preserves Emerging Technology Collaboration," Silicon Valley/San Jose Business Journal (March 7, 2008) (co-authored with Jonathan A. Shapiro).
- "Allocation of the Burden of Proof in IDEA Due Process Challenges," 29 Vt. L. Rev. 951 (2005) (co-authored with Christopher Thomas Leahy).
- "Broadsheet Bullies?: Designated public forum and established newspapers' efforts to rid Philadelphia's public transit system of a government-sponsored competitor," 150 U. Pa. L. Rev. 1969 (2002).
Professional Activities
Mr. Mugmon is a member of the American Bar Association.
