Mark C. Molumphy, a partner at Cotchett, Pitre & McCarthy, LLP, is a native of the Bay Area, born in San Mateo, California.
Mark has served as lead trial counsel in many of America’s most prominent cases and, during his extensive career, recovered over one billion dollars for his clients. Today, Mark is considered one the nation’s most accomplished trial attorneys in securities, corporate governance, and data security and privacy.
In 2020, Mark’s string of historic results earned him recognition on the Daily Journal’s distinguished list of the Top 100 Attorneys in California. In 2021 and 2022, Mark was included in Super Lawyer’s list of the Top 100 Lawyers in Northern California, America’s Top 100 High Stakes Litigators, The National Trial Lawyers Top 100, and Irish Legal 100. Mark was also named to Lawdragon’s 500 Leading Plaintiff Financial Lawyers for 2020, 2021 and 2022. In 2022, Mark also received the prestigious ranking in Securities for California from Chambers.
Mark currently serves as co-lead counsel in several noteworthy class actions, litigating issues of first impression relating to newly-enacted data privacy and security statutes. In the Apple Device Performance Litigation, after years of litigation, Mark successfully negotiated a $310 million settlement – the largest all-cash recovery in a computer intrusion case in history – on behalf of a class of approximately 100 million iPhone users.
Mark also serves as co-lead counsel in In re Zoom Video Communications, Inc. Privacy Litigation, representing a nationwide class of over 100 million Zoom users, alleging that Zoom failed to encrypt Zoom meetings, improperly shared user information, and left many exposed to “Zoombombing” by unauthorized third parties in violation of privacy and unfair competition laws. In August 2021, the parties announced a settlement requiring Zoom to pay $85 million in cash compensation and implement comprehensive reforms to its business.
Mark has led many of the most prominent securities class actions. In 2023 alone, Mark helped negotiate settlements of behalf of shareholders of Eventbrite ($19.25 million) and MicroFocus ($107.5 million). Mark negotiated multi-million dollar settlements on behalf of former shareholders of Bay Meadows Race Track, mutual fund shareholders of Janus, and investors purchasing shares in the initial public offerings of Alibaba ($75 million) and LendingClub ($125 million), two of the largest IPO class action settlements in history. 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 has also led some of the largest shareholder derivative actions in the nation, including as co-lead counsel for the Trustee of the Fire Victims Trust, assigned PG&E’s rights to pursue action against its own officers and directors relating to the 2017 North Bay Fires and 2018 Camp Fire. The case recently settled for $117 million, one of the largest direct recoveries ever against company directors. Mark previously worked on the PG&E shareholder derivative action arising from the San Bruno gas pipeline explosion, resulting in a $90 million recovery, one of the largest derivative Settlements in U.S. history, as well as extensive reforms to PG&E’s underground gas transmission systems to protect customer safety.
Mark was honored as a finalist for the Consumer Attorneys of California Attorney of the Year, based on his work as lead counsel for a nationwide class of investors in Medical Capital, a medical receivable company which operated a massive Ponzi scheme that targeted elderly investors. After convincing the federal court to reject a paltry settlement negotiated by the SEC, Mark obtained $173 million in settlements on the eve of trial, which remains the largest Ponzi scheme recovery in California history.
Mark has extensive experience in complex actions based on cutting edge legal issues, and cases ranging from consumer products to elderly financial abuse to environmental protection, including In re Wells Fargo & Co. Derivative Litigation (fictitious accounts and sales practices) and Smith v. Merrill Lynch (Orange County Bond Litigation).
Over almost three decades of practice, Mark’s work has resulted in the recovery of hundreds of millions of dollars and the implementation of novel governance reforms for public and private companies alike, as well as their shareholders.
Mark is active in pro bono work and community affairs. He was a long time director and currently serves as a volunteer for the Legal Aid Society of San Mateo County, which provides free legal services to low-income children, families and seniors. He also has been appointed counsel by the Federal Court as part of the court's pro bono program. Mark currently serves as a volunteer coach for Special Olympics, and a member of the Board of Bay Scholars, which provides financial and personal support to low-income Bay Area students, access to private college prep education, and assistance in enrolling in college.
Mark was also honored with the "Angel Award" by the Parca Auxiliary, a private nonprofit organization that serves people with developmental disabilities and their families in the Bay Area. See Parca Auxiliary Press Release PDF.
Mark remains very active in local county and federal bar associations. He was selected by the San Mateo County Superior Court to serve on Court’s complex court committee which helped open a new complex courthouse and draft initial rules and forms used in the County’s complex department. He is also a lifetime member of the San Mateo County Bar Association and past President of both the County Bar’s Barrister’s Committee and Business Litigation Committee. He is currently on the Board of Governors of the Association of Business Trial Lawyers. He is also an active member of the Northern District of California’s Chapter of the Federal Bar Association, as well as the FBA's securities section.
- Wells Fargo Shareholder Sues Bank’s Executives for Sham Interview and Hiring Practices to Increase Workforce Diversity10.03.2023
- Cotchett, Pitre & McCarthy Announces Ninth Circuit Dismisses Appeal Allowing Historic Settlement to be Distributed to Apple iPhone Consumers Impacted by Software Throttling08.09.2023
- Cotchett, Pitre & McCarthy Ranked One of the Top Securities Law Firms Nationwide by Institutional Shareholder Services02.28.2023
- Court Orders Gilead to Pay Attorneys’ Fees and Expenses to Shareholders, Finding Corporation Engaged in “Glaringly Egregious” Conduct07.23.2021
- Cotchett, Pitre & McCarthy, LLP Files Lawsuit on Behalf of Justice John Trotter (Ret.), Trustee of the PG&E Fire Victim Trust, Against Certain PG&E Officers and Directors02.24.2021
- SF Chronicle, 2020
- Judge Appoints CPM Founder Joe Cotchett as Co-Lead Counsel in the Apple Device Battery Throttling Case05.15.2018
- CPM Files Shareholder Lawsuit Against Facebook Directors Following Massive Data Breach Impacting 50 Million Facebook Users03.22.2018
- CPM Files Lawsuit Against Wells Fargo Officers and Directors Relating to Auto and Home Loan Practices09.05.2017
- CPM Client Shareholders File Opposition To Wells Fargo Motion Regarding Illegal Sales Practices, Ask For Case To Move Forward On Its Merits04.26.2017
- CPM Files Shareholder Lawsuit After Yahoo Senior Executives Fail to Disclose Russian Hacks of Customer Accounts03.16.2017
- CPM Files Lawsuit Against Wells Fargo Executives and Board Members for Creation of Over 2 Million Phony Accounts which Defrauded Consumers09.22.2016
- After Considering CPM Argument, Court Orders JPMorgan, Jamie Dimon, to Produce Emails in Shareholder Derivative Case09.21.2015
- San Francisco Chronicle, 03.16.2015
- The Recorder, 10.17.2014
- CPM Files Complaint on Behalf of PG&E Against Its Officers and Directors for Breach of Their Fiduciary Duties09.23.2013
- In CPM Class Action, Court Certifies Class Consisting of All Lowe’s Installers in California Who Were Misclassified as Independent Contractors as Opposed to Employees08.19.2013
- CPM Helps Investors Reach Landmark Settlement with Wells Fargo in Medical Capital Ponzi Scheme Actions04.30.2013
- Civil Litigation Reporter., Volume 20, Number 1 (Feb. 1998)
- Defrauded Investors May Lose Their Right to Recovery: Trump Administration Pushes for Regulatory Changes that Would Allow Companies to Avoid Securities Class Actions Through the Use of Mandatory Arbitration AgreementsAdvocates for Justice, 07.16.2018
- Advocates for Justice, 03.26.2018
Honors & Awards
Honors & Recognitions
Top 100 Attorneys in California, Daily Journal (2020)
The National Trial Lawyers: Top 100 (2020, 2021, 2022)
Top 100 Northern California Super Lawyers (2015-2022)
Community Service Award by the Jack Berman Advocacy Center of the American Jewish Congress for work on the landmark 101 California Shooting Litigation (1996)
Parca’s Angel Award (2008)
Consumer Attorneys of California Attorney of the Year Finalist (2014)
Chambers, Ranked, Securities - California (2022)
LawDragon, 500 Leading Plaintiff Financial Lawyers (2019, 2020, 2021, 2022)
Irish Legal 100 (2017-2021)
American Bar Association
State Bar of California
Association of Business Trial Lawyers
Association of Trial Lawyers of America
University of San Francisco Inns of Court
San Mateo County Bar Association
Court Appointed Arbitrator for the County of San Mateo
Legal Aid Society of San Mateo County
Federal Bar Association
Legal Aid Society of San Mateo County, Board of Directors and Volunteer
University of California, Berkeley, B.S. (1989)
Economic Studies, Edinburgh University, Edinburgh, Scotland
University of San Francisco, School of Law, J.D. (1993)
- California Supreme Court
- United States Supreme Court
- Ninth Circuit Court of Appeals
- Northern, Eastern, Central and Southern Districts of California