People

Michael Mugmon

Partner

Mugmon, Michael

Michael Mugmon's practice focuses on government enforcement actions, internal investigations, securities litigation, and complex commercial litigation. He joined the Washington DC office in 2003 and moved to the Palo Alto office in 2007 as a founder of the firm’s West Coast Securities practice. Mr. Mugmon was recently recognized by the Daily Journal as one of the top 20 lawyers in California under 40, and he has been named a “Rising Star” for three consecutive years by Northern California Super Lawyers.

Mr. Mugmon represents public companies, officers and directors, investment firms, 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.

Mr. Mugmon also serves on the firm's Pro Bono and Community Service Committee and Ethics Committee, as well as on the Palo Alto office's Hiring Committee.

Honors & Awards

  • Named one of the "Top 20 Lawyers Under 40" in California by Daily Journal
  • Recognized as a "Rising Star" in the 2011, 2012, and 2013 editions of Northern California Super Lawyers
  • Burton Award for Legal Achievement, 2011

Publications & News

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March 13, 2014

Supreme Court Issues Decision Analyzing Whether Misrepresentation is “in Connection with” Purchase or Sale of Covered Security

On February 26, 2014, in Chadbourne & Parke LLP v. Troice et al.,1 the Supreme Court narrowed the definition of “in connection with” as that term is used in the Securities Litigation Uniform Standards Act of 1998 (SLUSA).

January 21, 2014

SB 538: Overhauled anti-securities fraud provision

An article by Michael Mugmon and Matthew Benedetto, published in the January 21, 2014 edition of The Daily Journal.

October 3, 2013

California Overhauls State Anti-Securities Fraud Statute

On September 23, 2013, Governor Jerry Brown signed into law Senate Bill 538—which overhauls the anti-fraud provision of the California Securities Law of 1968, and will likely make it more difficult for would-be plaintiffs to maintain lawsuits for securities fraud.

September 18, 2013

Meltdowns crank up muni-bond litigation

An article by Randall Lee, Michael Mugmon and Joel Fleming, published in the September 18, 2013 edition of The Daily Journal.

July 16, 2013

Palo Alto Attorneys Featured in 2013 Northern California Super Lawyers

Twenty-two WilmerHale attorneys ranked in the tenth annual Northern California Super Lawyers listing for 2013.

April 15, 2013

Daily Journal Publishes “SEC takes hard line on ‘cyber incidents’” by Michael Mugmon and Joel Fleming

An article by Partner Michael Mugmon and Associate Joel Fleming, published in April 5, 2013 edition of the San Francisco Daily Journal.

March 14, 2013

Update: Recent Court Decisions Reveal Litigation Challenges for SEC

Although the US Securities and Exchange Commission may have significant leverage to get what it wants during the course of an investigation and even in settlements, several recent court decisions strongly suggest that the playing field levels once the agency ends up in litigation.

March 6, 2013

Michael Mugmon Named to the Daily Journal’s “Top 20 Under 40” List

Partner Michael Mugmon was named to the Daily Journal’s prestigious “Top 20 Under 40” list for California.

January 4, 2013

WilmerHale Announces the Elevation of Partners and Special Counsel

We are pleased to announce the elevation of our new partners and special counsel in 2013.

April 2, 2012

UPDATE: Lower Courts Interpret the Supreme Court's Decision in Janus Capital Group, Inc. v. First Derivative Traders

Last summer, the Supreme Court held, in Janus Capital Group, Inc. v. First Derivative Traders, Inc., that a defendant may only be held liable for securities fraud in a private action brought under Rule 10b-5(b) of the Securities Exchange Act of 1934 if it was the "person or entity with ultimate authority" over the alleged misstatement. This alert examines the divergent paths that the lower courts have taken in applying the Janus decision.

Recent Highlights

  • Successfully resolved SEC inquiry involving adequate disclosure of principal transactions on behalf of investment management firm by obtaining letter closing investigation without adverse action
  • Successfully resolved SEC inquiry involving accounting practices related to litigation reserves on behalf of major public semiconductor company by obtaining letter closing investigation without adverse action
  • Obtained dismissal of class action against major public semiconductor company concerning its acquisition of competitor in California state court
  • Representing social media company in SEC inquiry related to initial public offering
  • Representing alleged tipper in SEC insider trading inquiry
  • Representing international investment bank/broker-dealer in California Attorney General inquiry involving underwriting of mortgage-backed securities
  • Favorably resolved SEC civil enforcement action against former CFO of McAfee, Inc. in federal district court in Northern District of California
  • Represented major broker-dealer in FINRA inquiry concerning sales of variable life insurance contracts, or "variable life settlements”
  • Represented major public semiconductor company in merger dispute in first confidential arbitration to be litigated in the Delaware Court of Chancery
  • Achieved extremely favorable settlements for two investment banks in multi-plaintiff challenge to short-selling practices in San Francisco County Superior Court

Professional Activities

Mr. Mugmon is a member of the American Bar Association and the State Bar of California.

Pro Bono and Community Service

  • Serving as a Lead Adjudicator for San Francisco Neighborhood Courts alternative dispute resolution program operated by San Francisco District Attorney’s office
  • Representing California gang member charged with RICO and VICAR conspiracy to commit murder in federal district court in Northern District of California
  • Representing California inmate who received gang enhancement of indeterminate length to sentence for role as armed robbery getaway driver in habeas proceedings
  • Represented California inmate in successful parole proceedings after California Board of Parole Hearings had denied his 15 previous applications
  • Secured U-VISA for Mexican immigrant who was victim of domestic abuse

Practices

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Education

JD, cum laude, University of Pennsylvania Law School, 2002, Editor-in-Chief, University of Pennsylvania Law Review; Arthur Littleton and H. Clayton Louderback Legal Writing Instructor

BA, magna cum laude, University of Pennsylvania, 1999, Phi Beta Kappa

Bar Admissions

California

District of Columbia

Maryland

Languages

French

English

Clerkships

The Hon. Ruggero J. Aldisert, US Court of Appeals for the Third Circuit, 2002 - 2003