Mark C. Molumphy, a partner at Cotchett, Pitre & McCarthy, LLP, is a native of the Bay Area, born in San Mateo, California.
Mark joined CPM in 1993, practicing civil litigation with an emphasis on complex business disputes, securities, antitrust, insurance bad faith, and products liability.
Mark was presented the Community Service Award by the Jack Berman Advocacy Center of the American Jewish Congress for his work on the landmark 101 California Shooting Litigation. Mark was also a finalist for the Consumer Attorneys of California Attorney of the Year award in 2014, based on his work as lead counsel for a nationwide class of investors in Medical Capital, which operated a massive Ponzi scheme. Mark helped to secure over $173 million in settlements, the largest Ponzi scheme recovery in California history. Mark has consistently been selected as one of the Top 100 lawyers in Northern California by Super Lawyers.
Mark has extensive experience as lead counsel in major consumer and investor fraud class and derivative actions, and currently serves a lead or co-lead counsel in the In re Apple Inc. Device Performance Litigation (iPhone throttling), In re Facebook Inc. Shareholder Derivative Privacy Litigation (Cambridge Analytica data breach), and In re Wells Fargo & Co. Derivative Litigation (fictitious accounts and sales practices). Mark also currently serves as counsel for investors of BP, relating to losses suffered from the Gulf of Mexico disaster. He previously served as lead counsel in the Medical Capital class action, resulting in one of the largest Ponzi scheme settlements in United States history, as well as other mega-class actions, including Smith v. Merrill Lynch (Orange County Bond Litigation), Estate of Jim Garrison v. Warner Bros. Inc., Campbell v. Acclaim Entertainment, Inc., In re Pilgrim Securities Litigation, Informix, and Central Bank. Mark also negotiated multi-million dollar settlements on behalf of former shareholders of Bay Meadows Race Track and mutual fund shareholders of Janus. Mark served as lead counsel in the Freddie Mac preferred shareholder securities litigation, following the government’s historic takeover in 2008, and represented numerous cities and counties in California related to their investment losses in Lehman Brothers, Washington Mutual and AIG, amongst others.
Mark also served as lead counsel in several groundbreaking derivative actions, including: Oracle, where he successfully urged the federal court to invalidate a forum selection clause inserted into corporate bylaws without shareholder approval–an issue of first impression; PG&E, arising from the San Bruno gas line explosion and resulting in one of the largest cash and governance reform settlements in California history; and HP, relating to its acquisition of Autonomy. His work has resulted in the recovery of hundreds of millions of dollars and the implementation of novel governance reforms for the companies and their shareholders.