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10100 Santa Monica Boulevard
Suite 2200
Los Angeles, California
90067
Tel 310.282.2122
Fax 310.919.3848


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Michael A. Thurman
Partner

Michael Thurman is a trial attorney who specializes in the defense of lawsuits, arbitrations and regulatory actions brought against businesses and executives. He regularly defends consumer protection actions and investigations brought by the Federal Trade Commission (FTC) and state regulators, and counsels clients in the debt negotiation industry on advertising and marketing issues.

Mr. Thurman has also represented securities brokerage firms in numerous litigation and arbitration actions, as well as regulatory matters brought by the Financial Industry Regulatory Authority (FINRA) - formerly the National Association of Securities Dealers (NASD) - and the U.S. Securities and Exchange Commission (SEC).

Mr. Thurman advises businesses regarding compliance and risk management issues, and regularly makes presentations addressing these topics.

In addition, Mr. Thurman has handled employment and general business litigation matters, and has represented financial services clients in employee non-competition agreement and trade secret misappropriation declaratory and injunctive relief actions.

Prior Work Experience

Mr. Thurman has served as the General Counsel and Senior Vice President of Wedbush Morgan Securities, and has managed in the Los Angeles office of Bear Stearns & Co. Inc. He has previously been licensed as a Registered Representative and a General Securities Supervisor by the National Association of Securities Dealers.

Representative Experience

  • Successful representation of the victims of the La Conchita landslide which killed 10 people, injured 9 others and destroyed and damaged 16 homes. Recovered more than $7.5 million in damages from defendants that failed properly to maintain the hillside that failed in January 2005.
  • Successful representation of a securities brokerage client in obtaining dismissal of securities arbitration action and an award of attorney fees and sanctions against claimant for failure to comply with NASD dispute resolution discovery and pre-hearing rules
  • Successful representation of a securities brokerage firm and its financial advisor in obtaining dismissal of $1.1 million suitability claims, finding that the customers had other financial resources and sophistication to understand the risks of their investment portfolio and that the vast majority of losses were in stocks that were purchased elsewhere and transferred into their account
  • Successful representation of a securities brokerage firm and its financial advisor in obtaining dismissal of all customer suitability action and an award of expert fees and other costs against claimant, establishing that the claimants were aggressive investors who came to the brokerage firm seeking high returns in Internet stocks and other speculative investments just before the market break in early 2000
  • Successful representation of a securities brokerage firm against claimants in alleged misappropriation case and awarded in attorney fees, defending on the basis that the former financial advisor's conduct was outside the scope of his employment duties and some of the alleged misconduct occurred after the financial advisor’s employment had been terminated. In his role as general counsel, convinced claimants' counsel to submit the action to private arbitration before a retired Los Angeles Superior Court judge
  • Successful representation of a real estate partnership in the recovery of more than $1.2 million construction loan proceeds that were stolen by unscrupulous contractors in connection with three apartment and shopping center construction projects

Publications/Speeches


Affiliations

  • Member, Securities Industry and Financial Markets Association Compliance & Legal Division
  • Former NASD-licensed Registered Representative and General Securities Supervisor

Distinctions

  • Highest "AV Preeminent (5 out of 5)" Professional Rating, Martindale-Hubbell Law Directory
  • Director, American Corporate Counsel Association, Los Angeles Chapter (1998-2000)
  • Director, Region Coach and Assistant Commissioner, American Youth Soccer Organization, Region 214 (2000-2005)
  • Director and Auxiliary Director, South Pasadena Education Foundation (1997-2006)

Practice Areas Education
University of Oregon School of Law, J.D., 1985
Stanford University, A.B., Sociology, 1979, With Departmental Honors
Captain, Varsity Rugby
Bar Admissions
California, 1986
Oregon, 1985
Court Admissions
California State and Federal Courts
Oregon State and Federal Courts
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