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Philadelphia Office
1835 Market Street - Suite 1400
Philadelphia
PA 19103
215.569.2497 phone215.568.6603 faxmcoran@klehr.com
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Michael K. Coran

Partner | Litigation

Biography

Michael K. Coran serves as Co-Chair of the firm's Litigation Department. He concentrates his practice in the area of commercial litigation, with particular emphasis in corporate and securities litigation, securities industry disputes, intellectual property litigation, lender liability, and business torts.

Mr. Coran represents numerous regional and national businesses in litigation matters in federal and state courts. He also has significant experience in litigation and civil investigations initiated by such entities as the U.S. Department of Justice, the U.S. Securities and Exchange Commission, and state agencies and self regulatory organizations, including the National Association of Securities Dealers and the New York Stock Exchange.

Mr. Coran is a ranked attorney by Chambers USA.

In addition, Mr. Coran has been named a Pennsylvania Super Lawyer® by a vote of his peers, a title he has held for the last thirteen years.

Mr. Coran regularly conducts trials and arbitrations in the state and federal courts and in private or self-regulatory organizations.

Coran, Michael

Credentials

Education

Stanford Law School, J.D. (1986)

University of Michigan, B.A., with honors (1983)


Admissions

Pennsylvania


Memberships

Solicitor,  Society Hill Synagogue, Philadelphia, Pennsylvania

Member,  Electronic Retailers Association

Member,  Philadelphia Direct Marketing Association

Member,  Phi Beta Kappa

Publications

Speeches and Publications

"Identifying and Preventing Securities Fraud,"  National Business Institute Seminar , March 2008

"Preventing a Catastrophic Loss: Broker/Dealer Loss and Counterparty Failure,"  2008 Annual Beneficial Owners' Summit on Domestic & International Securities & Lending Repo , February 2008

"The Impact of a Big Hedge Fund Blowup; A Cash Loss in a Reinvestment Account A Broker/Dealer Loss; A Counterparty Failure," 2007 Annual Beneficial Owners' Summit on Domestic & International Securities & Lending Repo, , February 2007

"Evaluating the Most Prevalent Securities Lending Risks,"  Annual Beneficial Owners' Summit on Domestic & International Securities & Lending Repo , February 2006

FOR IMMEDIATE RELEASE: October 13, 2011
Rethinking Corporate Counsel: Nine Minds Are Better Than One

FOR IMMEDIATE RELEASE: February 18, 2015
Michael Coran Featured in 2015 Litigation & ADR Handbook

Articles/Seminars

"Confidentiality Agreements: Use and Enforcement," accredited CLE presentation by Gregory G. Gosfield and Michael K. Coran, October 24, 2011

Mr. Coran is a legal columnist for International Securities Finance magazine. His articles include:

"Lessons Learned," International Securities Finance, June 2006


His more noteworthy representations include:
  • Managed extensive discovery and motion practice in US, pursuant to 28 USC §1782, for clients who were plaintiffs in fraud and breach of fiduciary action pending in the courts of the Isle of Man;
  • Victory for defendant at trial in Southern District of New York a declaratory judgment action brought to determine the price at which one member of an LLC that owned a high rise apartment in Manhattan would purchase the defendant's interest;
  • Victory for respondent following 11 days of FINRA arbitration hearings in an action brought by former employees of the respondent Firm who alleged that the Firm's principals intentionally had failed to compensate claimants for their share of cash and securities allocated to the Firm in several private placement transactions in which the Firm acted as placement agent;
  • After evidentiary hearing, obtained injunction and appointment of temporary receiver on behalf of property owners of large commercial office building causing the removal and replacement of property and asset manager;
  • Successful settlement of case brought by national bank and title insurer concerning non-payment of over 6,000 individual title insurance claims;
  • Victory for private equity purchaser of manufacturing business in action for breach of representations and warranties in purchase agreement in case tried over 16 days in arbitration;
  • Successful representation of casino applicant selected for licensure by the Pennsylvania Gaming Control Board in numerous proceedings before the Pennsylvania Supreme Court;
  • Obtained $8.2 million arbitration award for clearing broker in NASD arbitration dispute brought by introducing broker seeking to avoid payment of fees due under the parties' clearing agreement;
  • Settlement five days before trial in a securities lending dispute between 2 broker/dealers in which our client recovered $23 million and other payments equaling 98% of total actual damages;
  • Favorable settlement on behalf of the issuer corporation, a New York Stock Exchange-listed company, in two separate securities fraud class action suits;
  • Victory on behalf of clearing broker in $3 million claim for indemnification against introducing broker in NASD arbitration;
  • Obtained a multi-million dollar arbitration award on behalf of a television home shopping sales agency and against a large cosmetics manufacturer that attempted to terminate the parties' sales agency agreement, which required the manufacturer to pay sales commissions to the agent for television sales. Award included damages, back commissions, and reinstatement of the contract;btained defense verdict for national cable operator after trial in federal court on claim by multi-unit dwelling owners that FCC regulations permitted them to oust the cable operator from the property;
  • Successful defense to verdict of seller of business in $12 million claim for fraud arising out of sale of business;
  • Managed successful defense at trial and on appeal of $30 million declaratory judgment action in courts of England arising out of English plaintiff's demand to have multi-million dollar services contract deemed terminated due to an alleged corporate change of control;
  • Victory in statutory cable access arbitration on behalf of national cable operator in which property owner's demand for just compensation in excess of $4.0 million was rejected and award of $1 provided instead;
  • Representation of international video game retailer in several consumer class action cases, all of which settled on favorable terms;
  • Successful defense to verdict before a jury of a large regional bank in a lender liability action with damages claimed in excess of $16 million;
  • Representation of a psychiatric hospital in an ERISA matter involving over 800 patient claims for in-patient treatment;
  • Successful defense of a franchised cable television provider at trial and on appeal against a constitutional challenge to a state statute governing cable television access to apartment buildings;
  • Successful defense and settlement of a $40 million patent, copyright and trademark infringement action pursued by a Malaysian manufacturer against a U.S. distributor;
  • Successful defense and settlement of a multi-million dollar patent infringement action involving sunglass lens technology;
  • Dismissal of a federal securities class action arising out of the conversion of a state chartered savings bank to a stock-based company and subsequent dismissal of a related state court class action;
  • Denial of a TRO brought by a British infomercial celebrity seeking to terminate international airings of infomercials by a U.S. distributor;
  • Representation of an options market maker in NASD arbitration proceedings involving a claim for trading profit splits;
  • Successful defense and settlement of an action brought by a business-to-business publisher against 18 former employees who resigned to start a competing business;
  • Representation of former employees who were sued by the purchaser of their former employer, a large regional medical case management firm, after they went to work for a start-up competitor;
  • Successful defense at trial and on appeal of a quiet title action in which the court enforced an unrecorded right-of-way over a railroad line established in 1867 in favor of the successor-in-interest to the original grantee; and
  • Favorable settlement in action for breach of oral contract and accounting between joint authors of copyrighted works on behalf of a vendor of household products sold on home shopping networks.