Steven M. Phillips

Steven M. Phillips

Attorney Profile

Top Rated Business Litigation Attorney in Minneapolis, MN

Anthony Ostlund Baer & Louwagie P.A.
 | 3600 Wells Fargo Center, 90 South Seventh Street
Minneapolis, MN 55402
Phone: 612-349-6969
Fax: 612-349-6996
Selected to Super Lawyers: 2003 - 2019
Licensed Since: 1986
Practice Areas:
  • Business Litigation (70%),
  • Securities Litigation (20%),
  • Alternative Dispute Resolution (10%)
Attorney Profile

Steve Phillips practices in all areas of business litigation with an emphasis on securities, commercial/contract, shareholder and employment litigation.

He regularly appears in the state and federal courts in Minnesota and elsewhere and has appeared in hundreds of arbitrations before the Financial Industry Regulatory Authority (FINRA), the American Arbitration Association (AAA), and other tribunals.

In the securities area, Steve has substantial experience defending and sometimes prosecuting broker/customer disputes arising under the federal and state securities laws. He represents brokerage firms, asset managers, registered investment advisers and individuals in disputes with others and in connection with regulatory inquiries. Steve has represented underwriters, issuers and public/private companies in complex and class action litigation. He represents employers and individuals in cases involving contract disputes, confidentiality agreements, non-compete and non-solicitation agreements, trade secrets, injunctive relief, employee “raiding,” defamation, and in partnership or shareholder disputes.  Steve has also served as a mediator in investment related lawsuits and arbitrations.

In the recent past, Steve has represented clients in cases in California, Florida, Iowa, Maryland, Michigan, Montana, Nebraska, New York, Texas, and Wisconsin.

 

About Steven Phillips

Admitted: 1986, Minnesota

Professional Webpage: https://www.anthonyostlund.com/steven-phillips

Honors/Awards:

  • Peer reviewed AV-Preeminent, (5 out of 5) by Martindale Hubbell

Bar/Professional Activity:

  • Member and former Board member, Treasurer and Secretary, Minnesota Chapter of the Federal Bar Association
  • Member, Minnesota State Bar Association  
  • Member, Hennepin County Bar Association  

Pro bono/Community Service:

  • Second Harvest Heartland, Community Volunteer
  • Volunteer Lawyers Network, Volunteer
  • Board Member, former Vice Chair and Secretary, Angel Foundation

Scholarly Lectures/Writings:

Verdicts/Settlements:

  • Defended lawyer, accountant and several companies in fraud and RICO claim brought by an investment firm.
  • Successful defense of securities brokerage firms against claims by customers challenging suitability of investment strategies, including claims seeking in excess of $1 million in damages.
  • Successful prosecutions of securities industry employee “raiding” arbitrations. Together with Joe Anthony, has obtained awards of $16.2 million and $10 million in such cases.
  • Successful defense of financial advisor in promissory note claim brought by former employer.
  • Represented financial advisor in dispute with former bank employer over non-solicitation and confidentiality agreement.
  • Favorable settlement of investor's claim against financial services firm relative to options trading.
  • Represented underwriter of municipal bonds in securities fraud claims brought by bond purchasers.
  • Favorable resolution of "selling away" claim brought by older investors.
  • Numerous successful prosecutions of promissory note collection matters on behalf of broker dealers.
  • Successful representation of minority shareholders in disputes with closely held companies seeking a fair value buy-out of shares.
  • Represented shareholder and former officer of local distributorship in minority shareholder oppression case. 
  • Defeated injunction motions brought by securities brokerage firms against departed financial advisors.
  • Obtained multiple temporary restraining orders and arbitration settlements on behalf of securities brokerage firm involved in the sale of its business.
  • Represented state bank defrauded in ponzi scheme.

Representative Clients:

  • Dougherty & Co.; Feltl and Company, Piper Jaffray & Co.; RBC Wealth Management; Stifel, Nicolaus and Company; Wells Fargo Advisors

Educational Background:

  • J.D., cum laude, University of Minnesota Law School
  • B.S., Carlson School of Management, University of Minnesota

Industry Groups

  • Financial Services
  • Securities Broker-Dealers
Office Location for Steven M. Phillips

3600 Wells Fargo Center
90 South Seventh Street
Minneapolis, MN 55402

Steven M. Phillips:

Last Updated: 1/22/2019

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