Andrew Michaelson

Digital Assets / Cryptocurrencies

• Representing Ripple Labs in connection with class action litigation, in multiple federal courts across the country, concerning whether Ripple’s distributions of XRP constitute “investment contracts” subject to regulation under federal securities laws.
• Advising major financial institution on application of federal banking laws and regulations to state-chartered banks and trust companies affiliated with cryptocurrency exchanges or otherwise focused on digital assets.
• Representing major hedge fund in connection with internal review of trading in digital assets, to ensure compliance with federal laws and regulation.

Securities/Commodities/Unfair Trade Practices

• Representing HSBC in investigations and civil litigation relating to issuance of subprime RMBS, obtaining favorable settlements of DOJ investigation under FIRREA and civil claims asserted by FHFA
• Representing HSBC in connection with a variety of regulatory investigations by the SEC and/or State AGs
• Representing BNP Paribas in connection with the successful recovery of nearly $150 million from an SEC Fair Fund distribution
• Representing a financial services company in connection with CFPB investigation relating to fee disclosures and data security
• Representing Barclays in investigations relating to ISDAFIX, obtaining favorable settlement with CFTC and civil plaintiffs
• Representing a major ride hailing company in connection with investigations by State AGs relating to representations to investors, resulting in no action
• Representing a substantial hedge fund (>$20 billion in AUM) and its CEO in connection with SEC insider trading investigation, resulting in no action
• Representing Barclays in connection with CFTC investigation into potential insider trading, resulting in no action
• Representing a public, Silicon Valley-based Fintech company in connection with investigation by a State Attorney General concerning app-based securities trading.

Corruption/FCPA

• Representing NIKE in connection with DOJ investigation into corruption in NCAA basketball
• Representing a Fortune 100 company in connection with DOJ investigation relating to bribery in South America, Africa, Asia, Europe, the Middle East and the U.S.

Antitrust

• Representing ValueAct in connection with an unprecedented antitrust litigation filed by the DOJ relating to Hart-Scott-Rodino’s “Investment-Only Exemption”
• Representing Target Corp. in connection with opt-out antitrust litigation relating to a price-fixing in packaged seafood industry

Data Privacy

• Representing a Fortune 100, Silicon Valley-based technology company in connection with an internal inquiry relating to data privacy controls

Individuals

• Representing president of public company in connection with SEC investigation into public representations regarding foreign operations
• Representing CEO in connection with SEC investigation into accounting of purchases and sales of data
• Representing executive in connection with SEC FCPA investigation involving Russia, Turkey and Brazil
• Representing CEO in connection with internal investigation by the Board of Directors
• Representing numerous traders in connection with SEC and internal investigations relating to FX trading, pre-release ADRs, and other matters
• Representing trader in connection with CFTC inquiry into potential insider trading

Andrew Michaelson is an accomplished former prosecutor who represents clients in industry-defining investigations and litigation, with a focus on securities, banking and digital assets.  Andrew previously served in the SEC Division of Enforcement and the U.S. Attorney’s Office for the Southern District of New York, where he led the Galleon insider trading investigation.  He has deep experience in trading and markets and is co-head of the firm’s Fintech Working Group.

Andrew has been Chambers-ranked for White Collar, in New York, since 2019.  He frequently defends clients before the DOJ, the SEC and State Attorneys General in white collar matters, but also leads the defense of related civil litigation, including class actions.  While his practice is wide-ranging, there is a common thread: advising clients where the stakes are high, and where the government and litigation adversaries are pressing the boundaries of existing law.  From defending HSBC in RMBS investigations arising out of the 2008 financial crisis, to defending Ripple in bellwether class actions concerning the application of federal securities law to the offer of digital assets, to defending a Fortune 100 company in a Trump EEOC investigation into whether DEI practices have resulted in discrimination, Andrew is sought out to advise on the defining issues of our day.

Chambers USA has noted that Andrew is recognized for his work defending “companies and individuals alike," with clients describing Andrew as “incredibly smart and understated,” and “very, very knowledgeable on regulatory matters.” He has appeared on 60 Minutes to discuss insider trading, and his prior work as a federal prosecutor was profiled in the Wall Street Journal and The New Yorker.  He served as trial counsel in U.S. v. Rajaratnam, the high-profile criminal trial resulting in the conviction of Raj Rajaratnam. Andrew has spoken about the Galleon case and federal securities law enforcement at Harvard Law School and the NYU School of Law.