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Steven Phillips practices in all areas of business litigation, with an emphasis on securities, commercial/contract and employment litigation. He regularly appears in the in the state and federal courts in Minnesota and elsewhere and has appeared in well over 100 arbitrations across the country before FINRA and other arbitral bodies.
In the securities area, Mr. Phillips has substantial experience in defending broker/customer disputes arising under the federal and state securities laws. He represents brokerage firms, asset managers, and individuals in connection with inquiries by regulatory authorities and in disputes with other brokerage firms, and has represented underwriters, issuers and public companies in complex, multidistrict and class action litigation. Mr. Phillips also represents employers and individuals in connection with regulatory matters and in disputes involving non-compete and non-solicitation agreements, trade secret claims, injunctive relief, and employee “raiding.”
Prior to joining Anthony Ostlund Baer & Louwagie in 1996, Mr. Phillips was a partner with Popham, Haik, Schnobrich & Kaufman, Ltd., where he practiced in the Business Litigation Department. For many years, Mr. Phillips has been designated by his Minnesota peers as a "Super Lawyer."
Representative Cases
- Representative clients in recent public matters include: Ameriprise Financial Services, Capital Solutions Distributors, Dougherty & Company, JM&A Group, Kopp Investment Advisors, Loffler Companies, Piper Jaffray & Co., RBC Wealth Management, and Stifel Nicolaus & Company.
- Together with Joseph Anthony, has obtained awards of $16.2 million and $10 million on behalf of brokerage firm clients in securities industry "raiding" arbitrations. (John G. Kinnard & Co. v. Dain Rauscher Incorporated, et al., NASD Case No. 98-00854; Miller Johnson Steichen Kinnard, Inc. v. Northland Securities, Inc., et al., NASD Case No. 02-06736).
- Successfully defended numerous brokerage industry clients against sales practices claims, including claims alleging in excess of $500,000 in damages. (See, e.g., Bosek, et al. v. U.S. Bancorp Piper Jaffray Inc., et al., NASD Case No. 01-01808; Dotson v. Ameriprise Financial Services, et al., FINRA Case No. 06-04530).
- Obtained a federal court order compelling a non-NASD member firm, not a signatory to an arbitration agreement, to arbitrate its differences with a brokerage firm client. (FTN Financial Capital Markets v. Miller Johnson Steichen Kinnard, Inc., 2006 WL 1160391 (D. Ariz. 2006).
- Together with Joseph Anthony, obtained a directed verdict for a brokerage firm defending against a $2.5 million sales practice claim, following a seven-day hearing. (Randy Pentel, et al. v. U.S. Bancorp Piper Jaffray Inc., et al., NASD Case No. 03-05950).
- Obtained a $225,000 arbitration award, upheld on appeal, in securities industry "raiding" claim involving independent contractors. (Offerman & Co., Inc. v. Hamilton Investments, Inc., 1994 WL 374317 (E.D. Wis.1994).
Teaching
- Mutual Fund Regulation – A New Era, “Mutual Fund Litigation” – 6/11/2004 – Minnesota Continuing Legal Education
- Securities Arbitration 2003 – Hot Trends, Tactics and Strategies, “Supervisory Liability” –5/9/03 – All District Legal
- Securities Litigation in 1999, “Insider Trading” – 11/4/99 – Minnesota State Bar Association
- Mr. Phillips has also provided private training to groups of securities brokers in connection with brokerage industry continuing education requirements.
Professional Activities
Mr. Phillips is admitted to practice before the state and federal courts of Minnesota, the United States District Court for the Eastern District of Wisconsin, and the United States Court of Appeals for the Eighth and Ninth Circuits. He is a member of the Hennepin County and Minnesota State Bar Associations and serves on the Board of the Minnesota Chapter of the Federal Bar Association.
Education
Mr. Phillips graduated from the University of Minnesota in 1983 (Bachelor of Science, Business Administration). He graduated, cum laude, from the University of Minnesota Law School in 1986.
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Anthony, Joseph W.
Anthony, Brooke D.
Alton, Larina A.
Awsumb, Shannon
Baer, Norman J.
Brennan, Nathan P.
Dressen, Janel M.
Gullickson, Randy G.
Hartman, Aaron R.
Kaplan, Philip J.
Kerbaugh, Steven C.
Knoblauch, Mary L.
Louwagie, Vincent D.
Merrill, Courtland C.
Moilanen, Robert C.
Olson, Cory D.
Ostlund, Richard T.
Phillips, Steven M.
Pincus, Steven M.
Stanton, Cheryl A.
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Paralegals 
