Michael Brady joined Bass, Berry & Sims in 2007 as a Member in the firm's Broker-Dealer and Financial Products Litigation Group. Prior to joining the firm, Michael was a partner at Tate Lazarini Brady & Davis, PLC where he concentrated his practice in the securities litigation, arbitration and compliance areas.
Financial Products and Broker-Dealer: Michael has represented broker-dealers, financial institutions and registered representatives in a wide variety of disputes throughout the country, ranging from sales practice disputes, raiding and employee transition cases, employment discrimination claims, trading desk disputes and allegations of fraud, breach of fiduciary duty and failure to supervise. He also represents firms and associated persons in regulatory proceedings.
Representative Matters include:
- Represented a broker-dealer in a product failure case alleging fraud and unsuitability. After a seven day arbitration hearing, the FINRA arbitration panel denied claimants’ $8.2 million claim and awarded respondents over $250,000 in attorneys’ fees and costs.
- Represented a broker-dealer in a raiding claim against a competitor that hired a significant number of employees away from the client, many of whom were in different offices and none of whom had non-compete contracts. After three weeks of hearings, the FINRA arbitration panel rejected all of respondent’s defenses and awarded the claimant $1.75 million.
- Represented a broker-dealer in a case seeking over $1.8 million in compensatory damages for alleged selling away and failure to supervise. After a five day arbitration hearing, the arbitration panel dismissed all of claimant’s claims against the brokerage firm with prejudice.
- Represented a broker-dealer in a case seeking over $1 million in compensatory damages for the alleged sale of unregistered securities, unsuitability and failure to supervise. After an eight day arbitration hearing, the FINRA arbitration panel dismissed all of claimant’s claims with prejudice.
- Represented a brokerage-firm in a mass-action filed by 38 arbitration claimants for losses allegedly suffered from their participation in an options-trading program. Through various pre-trial motions, the claims were dismissed in full.
- Represented a broker-dealer in a breach of contract claim wherein investor sought over $34 million for alleged breached of contract and dissemination of negative information regarding investor and his company. After extensive briefing and argument, the FINRA arbitration panel dismissed all claims with prejudice.
- Represented a broker-dealer and one of its officers in case brought by former employee alleging discrimination, wrongful termination and defamation. All claims were dismissed with prejudice pursuant to respondents’ motion to dismiss.
Michael is a former chair of the Securities Section of the Memphis Bar Association and has prepared materials for and spoken at several Memphis Bar Association seminars. In addition, Michael is a contributing blogger to Thomson Reuters' News & Insight Securities Law blog. He is listed in Best Lawyers® and is AV® Peer Review Rated by Martindale-Hubbell. Michael is admitted to practice in Tennessee and Florida and is admitted to practice before the Sixth Circuit Court of Appeals and several federal district courts.
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