Mike is Board Certified in Business Litigation and the Chair of Shumaker's Financial Services Industry Sector, leading a team of attorneys in their nationwide practice. In practice for nearly four decades, Mike represents public and private corporations and their officers, directors, and key employees in a variety of matters, including restraints of trade, garden leave provisions, unfair competition, client complaints, employment contracts, partnership separation, and torts. Mike regularly practices before state and federal courts, as well as state and federal securities regulators and self-regulatory agencies, representing international financial advisors regarding their contractual obligations.
Mike and his team have obtained numerous million-dollar recoveries, including a landmark $10.25 million victory representing the claimants in Smolchek and Ramazio v. Merrill Lynch. In 2010, Mike and his team won the first deferred compensation case of it's kind against Merrill Lynch. He is admitted to practice before the Supreme Court of the United States of America and all local state courts in the states of Florida, New Jersey, and New York.
Mike consults with executives in the securities industry regarding employment issues, recruitment issues, and restructuring documentation, including contracts, notes, and onboarding documents for financial advisors and executives. Clients regularly turn to him for assistance defending employees transitioning between firms and enforcing post-termination obligations. Additionally, Mike is an experienced class action litigator and has led numerous cases on behalf of physicians and obtained million-dollar verdicts against some of the largest disability insurance companies for fraud, breach of contract, and the Racketeer Influenced and Corrupt Organizations Act. Mike also represents clients in securities-related litigation involving:
- Arbitration
- Securities customer disputes
- Broker-dealer recruitment
- “Raiding” litigation
- Change in control issues and deferred compensation issues
- Compensation and separation agreements
- Wrongful termination
- Form U-5 issues
Mike is called upon on a regular basis to comment in many national publications, including The Wall Street Journal, Registered Representative, Fundfire, Reuters, Forbes, and other industry periodicals. Active in the Sarasota community, Mike serves as Chairman of the Board for The Suncoast Aquatic Nature Center Associates, a nonprofit that manages Nathan Benderson Park, a community/public asset and world class, multi-use sports venue.
Education
J.D., with honors, Seton Hall University, 1983
B.A., University of Rhode Island, 1980
Professional Associations
- Suncoast Aquatic Nature Center Associates Inc. (SANCA) for Nathan Benderson Park
- Chairman of the Board, 2022
Honors
- SRQ Magazine: Elite Top Attorneys, Securities Law, 2022
- AV® Peer Review Rated by Martindale-Hubbell
Representative Matters
- Shumaker Wins Defamation Case for Financial Advisor Against Merrill Lynch
- 05.02.2018 AdvisorHub – Merrill to Pay $750,000 for Defaming Broker by Insinuating Insider Trading
- 05.02.2018 Citywire – Merrill to pay ex-offshore broker $750,000 in defamation case
- 05.02.2018 Financial Advisor IQ – Merrill Lynch to Fork Over Big Payout to Fired FA
- Shumaker Victory Recognized as One of Largest FINRA Awards Brokers Won from Their Firms
- 04.12.2018 InvestmentNews – Biggest Arb Awards Brokers Won from Their Firms
- Shumaker Attorneys Defeat Merrill Lynch's Attempt to Keep Litigants Out of FINRA Arbitration
- 04.03.2018 AdvisorHub – Merrill Retreats from Battle to Fight Former Executives in Court
- 04.03.2018 wealthmanagement.com – Merrill Gives Up Fight Against Form Advisors’ Rights to Arbitrate
- 02.08.2018 AdvisorHub – Former Merrill Exec Wins Skirmish Over Losses in His Stock Plan
- Shumaker Attorneys Obtain TRO on Behalf of Morgan Stanley
- 02.06.2018 AdvisorHub – Judge Hands Morgan Stanley Another TRO Win, Hands Off to FINRA
- 01.31.2018 AdvisorHub – Whose Client Is It? Morgan Stanley Argues Both Sides, Former Broker Claims
- 01.24.2018 AdvisorHub – Morgan Stanley Wins Another Restraining Order Against Former Broker
- 01.23.2018 AdvisorHub – Morgan Stanley Disses Former Broker’s Career in New TRO Suit
- Shumaker Broker-Dealer Team Wins $3 Million Defamation Award
- 11.07.2017 On Wall Street – UBS Must Pay Fired Broker $3M Over Defamation Claim
- 11.06.2017 Wealth Management – Stifel Broker Wins $3 Million from UBS for Defamation
- 11.03.2017 Herald Tribune – Broker Wins $3 Million in Defamation Case
- 11.01.2017 Tampa Bay Business Journal – Sarasota Broker Wins $3M Arbitration Award
- 11.01.2017 Business Observer – Broker Wins $3M Defamation Claim Against Firm
- 11.01.2017 Tampa Bay Newswire – Shumaker Broker-Dealer Team Wins $3 Million Defamation Award
- 10.30.2017 SEC Law Blog – UBS Ordered to Pay Florida Broker $3 Million for Defamation
- 10.27.2017 AdvisorHub – UBS Ordered to Pay Florida Broker $3 Million for Defamation
- 10.27.2017 InvestmentNews – UBS Ordered to Pay $3 Million FINRA Fine for Defamation