Mark C. Molumphy

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 counsel in many of America’s most prominent cases and, during his extensive career, recovered over one billion dollars for his clients. Mark is considered one of the nation’s most accomplished trial attorneys in securities, corporate governance, and data security and privacy.

In March 2026, Mark served as lead trial counsel and obtained a historic jury verdict against Elon Musk relating to his $44 billion purchase of Twitter. The federal court jury unanimously found Musk defrauded Twitter investors through his tweets and awarded damages estimated to exceed $2.6 billion, the largest securities fraud verdict in United States history.

Just months later, in May 2026, Molumphy helped obtain a $110 million discrimination settlement in the In re Wells Fargo Derivative Litigation, following reports that the Bank conducted sham interviews with minority candidates to meet diversity goals even though positions had already been filled, and engaged in discriminatory lending practices. Wells Fargo agreed to create and fund a borrower assistance program providing down-payment and closing cost grants to low and moderate-income borrowers living in more than 50 regions across the country. The United States District Court judge called the deal a “historical moment” and set an example for other banks to follow.

In 2025, Molumphy received the prestigious California Lawyer Attorney of the Year award from the Daily Journal in recognition of his groundbreaking work in the Safelite whistleblower litigation, exposing a years-long scheme to overbill insureds across the country. Molumphy obtained a $31 million settlement, the largest individual insurance fraud act recovery in history.

In the Apple Device Performance Litigation, Mark served as co-lead counsel in an action alleging Apple secretly throttled down the power of iPhone across the country through a software update. After years of litigation, Mark successfully negotiated a $500 million settlement on behalf of a class of approximately 100 million iPhone users.

During the Covid epidemic, Mark served 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, Zoom agreed to pay $85 million in cash compensation to Zoom users 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 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, 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’s string of historic results earned him recognition on the Daily Journal’s distinguished list of the Top 100 Attorneys in California. Mark is also regularly 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 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. 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.

Representative Matters

CPM Investigates Underpayments of Crude Oil Royalties by Oil Companies

RE: In re Wells Fargo & Co. Hiring Practices Derivative Litigation

Honors & Recognitions

Daily Journal Top Commercial Litigators (2026)

Top 100 Attorneys in California, Daily Journal (2020)

The National Trial Lawyers: Top 100 (2020-2025)

Top 100 Northern California Super Lawyers (2015-2026)

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 (2022-2026)

LawDragon, 500 Leading Plaintiff Consumer Lawyers (2026)

LawDragon, 500 Leading Plaintiff Financial Lawyers (2019, 2020, 2021, 2022, 2025, 2026)

Irish Legal 100 (2017-2026)

Publications

Punitive Damages: How Much Is Enough?

In the News

06 Jul 2026

Judge scraps Musk’s attempt to toss Twitter fraud verdict

06 Jul 2026

US judge tosses out Musk’s bid to void Twitter fraud verdict

01 Jun 2026

Rare Securities Fraud Jury Verdicts Test High-Stakes Strategy

15 May 2026

Federal Court Grants Final Approval of “Historic” Discrimination Settlement with Wells Fargo

21 Mar 2026

Musk misled Twitter investors before 2022 buyout, jury says

20 Mar 2026

Elon Musk to Owe Billions After Jury Finds He Misled Twitter Investors Before Takeover

20 Mar 2026

A $2.1 billion tweet: Elon Musk defrauded Twitter investors

07 May 2025

$31 million Safelite settlement among largest whistleblower suits

26 Feb 2025

Plaintiff Brian Williams, States of California and Illinois, Reach Settlement with Defendants Safelite Group, Inc., Safelite Solutions LLC, and Safelite Fulfillment, Inc.

04 Dec 2024

CPM Announces Court Grants Final Approval of $200 Million Settlement in Uber IPO Class Action

23 Sep 2024

Wells Fargo Directors Ordered to Respond to Unfair Lending Suit

22 Jul 2024

California Court Orders Safelite AutoGlass to Answer Whistleblower Complaint Alleging Rampant Insurance Fraud; Case Set for September 2025 Trial

18 Jul 2024

Court Greenlights Landmark Plastic Pollution Lawsuit Against Procter & Gamble, Coca-Cola, PepsiCo and Major Consumer Goods Companies

12 Jun 2024

CPM Attorneys Recognized as 2024 Lawdragon 500 Leading Plaintiff Financial Lawyers

08 Jan 2024

Cotchett, Pitre & McCarthy Announces Commencement of Distribution of Historic Settlement to Apple iPhone Consumers Impacted by Software Throttling

03 Jan 2024

Illinois Court Unseals Whistleblower Complaint Alleging Insurance Fraud Against Safelite Autoglass

11 Dec 2023

Musk Ordered to Respond to Lawsuit by Shareholders

03 Oct 2023

Wells Fargo Shareholder Sues Bank’s Executives for Sham Interview and Hiring Practices to Increase Workforce Diversity

09 Aug 2023

Cotchett, Pitre & McCarthy Announces Ninth Circuit Dismisses Appeal Allowing Historic Settlement to be Distributed to Apple iPhone Consumers Impacted by Software Throttling

28 Feb 2023

Cotchett, Pitre & McCarthy Ranked One of the Top Securities Law Firms Nationwide by Institutional Shareholder Services

05 Jul 2022

CPM Attorneys Selected to 2022 Super Lawyers and Rising Stars List

06 Jun 2022

Major Plastic Consumer Goods Companies Must Face Pollution Lawsuit Impacting California Waterways

21 Apr 2022

Federal Court Grants Final Approval of Historic Privacy Settlement for Zoom App Users Nationwide

02 Aug 2021

Historic Privacy Settlement Reached for Zoom App Users Nationwide

23 Jul 2021

Court Orders Gilead to Pay Attorneys’ Fees and Expenses to Shareholders, Finding Corporation Engaged in “Glaringly Egregious” Conduct

07 Jul 2021

17 CPM Attorneys Honored as Northern California Super Lawyers and Rising Stars

24 Feb 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 Directors

21 Oct 2020

CPM Helps Android Device Users Sue Google and Alphabet for Antitrust Violations

13 Mar 2020

Cotchett, Pitre & McCarthy’s Securities Practice Ranked Amongst Top 10 Firms In North America

28 Feb 2020

CPM Helps Apple iPhone Consumers Impacted by Software Throttling Reach Historic Settlement

2020

CPM Helps Earth Island Institute Take on Big Plastic

YAHOO SETTLEMENT NOTICE

28 Nov 2018

CPM Partners McCarthy, Molumphy & Murphy Named to the Irish Legal 100

15 May 2018

Judge Appoints CPM Founder Joe Cotchett as Co-Lead Counsel in the Apple Device Battery Throttling Case

22 Mar 2018

CPM Files Shareholder Lawsuit Against Facebook Directors Following Massive Data Breach Impacting 50 Million Facebook Users

05 Sep 2017

CPM Files Lawsuit Against Wells Fargo Officers and Directors Relating to Auto and Home Loan Practices

INTUITIVE SURGICAL SECURITIES LITIGATION NOTICE OF SETTLEMENT

PG&E DERIVATIVE LITIGATION NOTICE OF SETTLEMENT

26 Apr 2017

CPM Client Shareholders File Opposition To Wells Fargo Motion Regarding Illegal Sales Practices, Ask For Case To Move Forward On Its Merits

21 Apr 2017

CPM Secures $90 Million Settlement in PG&E San Bruno Explosion Case

16 Mar 2017

CPM Files Shareholder Lawsuit After Yahoo Senior Executives Fail to Disclose Russian Hacks of Customer Accounts

08 Mar 2017

CPM Files Lawsuit Against Yahoo! Executives and Verizon Relating to Massive Data Breaches

22 Sep 2016

CPM Files Lawsuit Against Wells Fargo Executives and Board Members for Creation of Over 2 Million Phony Accounts which Defrauded Consumers

19 Jul 2016

Multiple CPM Litigators Recognized as Northern California Super Lawyers 2016

21 Sep 2015

After Considering CPM Argument, Court Orders JPMorgan, Jamie Dimon, to Produce Emails in Shareholder Derivative Case

28 Aug 2015

Court Orders PG&E Directors to Answer, Allowing CPM Client Shareholders' Suit to Proceed

16 Jul 2015

Multiple Cotchett, Pitre & McCarthy Lawyers Honored as Super Lawyers For Northern California

16 Mar 2015

Federal judge pushes Hewlett-Packard to resolve Autonomy lawsuit

CPM Helps Fedex Shareholder Sue Over the Illegal Delivery of Online Pharmacueticals

CPM's Consolidated Shareholder Derivative Lawsuit Moves Ahead Against PG&E Officers and Directors

CPM Pursues Google, Apple & Intel Litigation Involving Alleged Breach of Duties by Boards

17 Oct 2014

CPM Prosecutes Silicon Valley Trial

CPM Files Investors' Action Against Oportun Financial Corp.

Update: FedEx Faces Criminal Penalty for the Illegal Delivery of Online Pharmaceuticals

2013

CPM Files Consolidated Shareholder Derivative Lawsuit Against PG&E Officers And Directors

23 Sep 2013

CPM Files Complaint on Behalf of PG&E Against Its Officers and Directors for Breach of Their Fiduciary Duties

19 Aug 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 Employees

24 Jul 2013

Multiple CPM Lawyers Named to Super Lawyers Annual List for Northern California

30 Apr 2013

CPM Helps Investors Reach Landmark Settlement with Wells Fargo in Medical Capital Ponzi Scheme Actions

2013

CPM Appointed Lead Counsel for Securities Derivative Action In HP-Autonomy Deal

06 Feb 2013

Court Allows CPM's BP Securities Lawsuit to Move Forward

19 Dec 2012

CPM Files Derivative Complaint on Behalf of HP Shareholder Against HP Board of Directors

15 Oct 2012

CPM's California Investors' Lehman Collapse Suit Moves Forward

CPM Named as Super Lawyers 2012

Multiple CPM Attorneys Named to Super Lawyers 2011 List

Multiple CPM Attorneys Named to Prestigious Super Lawyers 2010 List

Blog Posts

16 Jul 2018

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 Agreements

26 Mar 2018

Supreme Court Upholds Right to Bring Securities Act Class Actions in State Court

Civic

Legal Aid Society of San Mateo County, Board of Directors and Volunteer