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CMBS Litigation Wave? The COVID-19 Fallout

Speaker(s): Daniel M. Payne, James A. Murphy
Recorded on: Aug. 11, 2020
PLI Program #: 305638

Mr. Murphy is co-founder and Chairman of Murphy & McGonigle, P.C. and leads the firm's Litigation Group. Over the last 30 years, Mr. Murphy has defended public companies and financial institutions as lead trial counsel in

Mr. Murphy has served as lead trial counsel to a number of large banks in a variety of litigation and government investigations concerning Residential Mortgage Backed Securities issues.  He has served as lead counsel for securities exchanges in several High Frequency Trading class actions.

Mr. Murphy advises clients across the spectrum of the financial services industry with respect to compliance with the constantly evolving banking and securities laws, rules and regulations.  He also represents companies involved in investigations initiated by banking regulators, the SEC, FINRA and state Attorneys General.

Mr. Murphy has been named a Securities Regulation "Lawyer of the Year" in multiple years by Best Lawyers in America®.  Mr. Murphy has been awarded Martindale Hubbell's highest rating, AV Preeminent (5.0/5.0).

Admissions:  New York Virginia U.S. Supreme Court U.S. Court of Appeals, Second Circuit U.S. Court of Appeals, Third Circuit U.S. Court of Appeals, Fourth Circuit U.S. Court of Appeals, Ninth Circuit U.S. Bankruptcy Court, Eastern District of Virginia U.S. District Court, Central District of California U.S. District Court, Eastern District of Virginia U.S. District Court, Southern District of New York

Education:     J.D., Vanderbilt University School of Law; B.A., Economics, University of Virginia



Mr. Payne’s practice focuses on serving financial services firms and public companies facing civil litigation and regulatory enforcement matters, as well as counseling clients on compliance with industry regulations. He handles all aspects of complex commercial litigation, from presuit investigations and counseling to motions practice and discovery. Additionally, he regularly represents companies facing investigations initiated by various state and federal regulatory agencies, including the SEC and FINRA.

Mr. Payne also advises companies of all stripes concerning the emergent regulatory structure surrounding cryptocurrencies and new applications built on blockchain technology. Such advice is critical with the number of companies attempting to raise money and start businesses on a blockchain. Mr. Payne is responsible for the Firm’s Blockchain Litigation Database, tracking blockchain-related enforcement actions and civil litigation.

Mr. Payne’s experience includes defending mortgage originators and RMBS sponsors in litigation and government investigation spawned by the 2008 financial crisis. He also participated in the defense of a of multi-million dollar non-MBS commercial case that resulted in a jury verdict in the client’s favor on all claims after a five-day trial.

Mr. Payne represented a client in state and federal court litigation stemming from its role in a merger in which the bank did not incur any liability. His other recent matters include advising a client on compliance with SEC regulations, representing a client in a multi-million dollar mediation, and advising a client on potential litigation relating to a six billion dollar transaction.

Mr. Payne organized the 2014 Richmond Crowdfunding Symposium. The Symposium presented experts discussing the legal, regulatory, and business impacts of the SEC’s proposed Regulation Crowdfunding.


Admissions:  Virginia, Eastern District of Virginia, U.S. Court of Appeals Fourth Circuit


Education:     J.D., magna cum laude, University of Richmond School of Law, 2009 B.A., Philosophy and Economics, magna cum laude, College of William & Mary, 2006