Michael S. Taaffe: Lawyer with Shumaker, Loop & Kendrick, LLP

Michael S. Taaffe

Partner, Broker Dealer Litigation/Arbitration Practice Administrator and Data Breach Practice Group Team Leader
Sarasota,  FL  U.S.A.

Peer Rating
AV® Preeminent

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Experience & Credentials Ratings & Reviews

Practice Areas

  • Broker-Dealer Litigation and Arbitration
  • Data Breach
  • Commercial Litigation
  • Labor and Employment
  • Federal Court Litigation
  • Financial Institutions
  • Healthcare
  • Litigation
  • Securities
  • Banking and Financial Institutions
Mailing AddressP.O. Box 49948, Sarasota, FL, 34230
University University of Rhode Island, B.A., 1980
Law SchoolSeton Hall University, J.D., with honors, 1983
Admitted1983, New Jersey; 1985, Florida; 1985, New York; 1987, United States District Court Middle District of Florida; 1993, United States Supreme Court; 1995, United States District Court Southern District of Florida; 2001, United States District Court Northern District of Florida

Michael S. Taaffe is the Department Administrator of the Broker-Dealer Litigation and Arbitration Practice Group of the firm. Mike is Board Certified in Business Litigation and is also the Data Breach Practice Group Team Leader. Mike's practice focuses on the representation of public and private corporations and their officers, directors and key employees in a variety of matters, including: restraints of trade, garden leave provisions, unfair competition, employment contracts, partnership separation and torts, as well as securities-related litigation involving arbitration, securities customer disputes, broker-dealer recruitment, raiding litigation, change in control issues, deferred compensation issues, compensation and separation agreements, wrongful termination and Form U-5 issues. Mike regularly practices before State and Federal courts, as well as State and Federal securities regulators and self-regulatory agencies.

Michael has obtained numerous million dollar recoveries in State and Federal Courts and FINRA arbitrations. Mike recently tried a landmark case in the securities industry resulting in an award in excess of $10, 000, 000. Mike manages the Broker-Dealer Litigation Arbitration Practice in a collaborative fashion bringing in constructive ideas from clients, industry experts and team members to construct a targeted approach to expeditiously achieve the clients' goals while employing creative fee structures.

Mike is an experience class action litigator and has been involved in numerous class actions in the securities industry.

Mike has litigated numerous disability cases on behalf of physicians and has obtained million dollar verdicts in Federal Court against some of the largest disability insurance companies. He has successfully brought claims in the disability cases for breach of contract, fraud and RICO.

Mike is called upon on a regular basis to consult with executives in the securities industry regarding employment issues, recruitment issues, and restructuring documentation including contracts, notes and onboarding documents for financial advisors and executives. He has been called upon on numerous occasions to assist in both defending employees in transition between firms and enforcing post termination obligations.

Mike has a nationwide practice in the securities industry and has also represented international financial advisors regarding their contractual obligations.

Mike is called upon on a regular basis to comment in many national publications including The Wall Street Journal, Registered Representative, Fundfire, Reuters, Forbes and other industry periodicals.

Mike is AV Peer Review Rated by Martindale-Hubbell. He is admitted to practice before the Supreme Court of the United States of America and all local state courts in the states of Florida, New Jersey and New York. Michael is also admitted to practice before the United States District Courts for the Northern, Middle and Southern Districts of Florida, as well as the United States District Court, District of New Jersey.


•AV Peer Review Rated by Martindale-Hubbell

News Releases

09.29.2015 Mike Taaffe featured in Femme Rouge Inspiring Progress article

04.28.2015 Former Merrill Lynch Employees Seeking Bonus Payments in Class Action - The Washington Examiner

02.05.2015 Shumaker, Loop & Kendrick Data Breach Team Monitors Congress Discussions on Federal Laws

12.17.2014 Shumaker Launches New Data Breach Practice Group

09.17.2012 Landmark Victory Against Merrill Lynch Upheld by Federal Court

05.08.2012 Broker-Dealer Litigation and Arbitration Practice Achieves Landmark Victory Against Merrill Lynch

04.18.2012 Sarasota Law Firm a Winner in Fight Between Merrill Lynch, Former Brokers - Sarasota Herald-Tribune

04.04.2012 Merrill Lynch Savaged By FINRA Arbitrators In Historic Employee Dispute - Forbes

10.15.2010 Former Merrill Lynch Brokers Win $1.167 Million Arbitration Award - Merrill Lynch Change of Control Triggers Stock Vesting for Employees


September 2015 Inspiring Progress - Mike Taaffe Featured in Femme Rouge article, September 2015

06.09.2015 Data Breach: Every Business Needs an Elite Goalie

01.30.2015 Client Alert: Congress Discusses Federal Data Breach Laws

11.14.2014 Client Alert: Florida Information Protection Act of 2014 - One Of The Strictest Data Breach Statutes in the Nation


Spring 2015 insights' Newsletter - Spring 2015


Documents by this lawyer on Martindale.com

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Data Breach: Every Business Needs an Elite Goalie
Michael S. Taaffe,David L. Wyant, Jr., June 24, 2015
The days of standing behind someone at the grocery store who is paying with a personal check, or, around the office, hauling physical paper files, are essentially extinct. To many Americans, the cash register and filing cabinet are now antiques. The costeffectiveness and efficiency brought by...

Congress Discusses Federal Data Breach Laws
Michael S. Taaffe, April 10, 2015
Earlier this week, the U.S. House of Representatives’ Subcommittee on Commerce, Manufacturing and Trade held a hearing during which there was a discussion of a Congressional proposal for a federal data breach statute.

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Office Information

Michael S. Taaffe

240 South Pineapple Avenue
SarasotaFL 34236


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