Andrew Michaelson

• Ripple Labs, winning summary judgment in bellwether class action concerning whether Ripple’s offers of XRP constitute “securities” under federal and state law, affirmed on appeal in the Ninth Circuit.
• NIKE, in investigation by the EEOC concerning whether DEI policies resulted in discrimination in violation of federal law.
• Financial Institution, winning summary judgment in case concerning application of federal banking laws to state-chartered crypto banks, affirmed on appeal in the Tenth Circuit.
• Financial Institution, successfully quashing grand jury subpoena on the grounds that it was issued with the improper intent to harass and intimidate.
• Google, winning summary judgment on civil RICO claims against Russian cybercriminals for distributing malware via botnet, including sanctions award resulting in payment of attorneys’ fees.
• Block, obtaining favorable settlement of regulatory claims arising from data breach perpetrated by former employee.
• Hedge Fund and its CEO, in SEC investigation into insider trading, resulting in declinations.
• Fintech Company, in connection with State AG investigation concerning app-based securities trading.
• HSBC, in investigations and civil litigation relating to issuance of subprime RMBS prior to the 2008 GFC, obtaining favorable settlements of DOJ investigation under FIRREA and civil claims asserted by FHFA.
• NIKE, in connection with DOJ investigation into corruption in amateur basketball, and Michael Avenatti’s unsuccessful attempt to extort NIKE in relation to same, resulting in Avenatti’s criminal conviction.
• Fortune 100 Company, in connection with DOJ investigation relating to bribery in South America, Africa, Asia, Europe, the Middle East and the United States.
• President of Public Company, in SEC investigation concerning the company’s disclosures of foreign business practices, successfully obtaining declination.
• CEO, in SEC investigation into accounting treatment of company’s purchases and sales with third party, successfully obtaining declination.
• BNP Paribas in connection with the successful recovery of nearly $150 million from an SEC Fair Fund distribution.
• Trader, in CFTC insider trading investigation, successfully obtaining declination.

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.