Phillip Hosp headshot.

F. Phillip Hosp

Partner

Phillip (Phil) Hosp is a partner in the firm’s Business Litigation & Dispute Resolution Practice who knows how to win in a courtroom, in arbitration, or at the settlement table. By understanding his clients’ business and objectives first, Phil provides pragmatic, creative, and strategic advice to financial institutions, including commercial and investment banks, direct lenders, private credit funds, real estate investment trusts, and fintech companies in disputes, enforcement actions, and investigations.

Before practicing law, Phil served four years as a tank officer in the U.S. Army, where he achieved the rank of captain and received the Bronze Star in one of his two tours in Iraq. Because of his education and real-world experience, Phil understands that organization, preparation, strategy, and speed are of the utmost importance in litigation. He fights hard for clients and seeks every opportunity to win cases early and fast.

For over a decade, Phil has represented clients in complex commercial litigation involving fraud, unfair or deceptive acts or practices, securities fraud, lender liability, and consumer protection claims. He has also defended clients in investigations and litigation by the Securities Exchange Commission (SEC), the Federal Trade Commission (FTC), the California Department of Financial Protection and Innovation (DFPI), and various District Attorneys’ Offices throughout California. For example, in In re Sanctuary Belize Litig., Phil defended claims brought by the FTC alleging over US$100 million in restitution and damages for allegedly deceptive marketing and sales involving a real estate development located in Belize.

Working closely with Foley transactional and intellectual property attorneys, Phil also reviews compliance programs, contracts, and lending policies through the lens of a litigator. By applying his business and finance litigation experience, he anticipates and addresses possible regulatory issues and potential contractual or investment disputes.

Representative Experience

  • Leading Property Assessed Clean Energy (PACE) Program Administrator in obtaining US$3m arbitration award against contractor in connection with fraudulent financing transactions under California’s PACE Program.
  • American National Insurance Company in connection with commercial real estate financing dispute and SEC enforcement action affecting commercial properties located in San Diego.
  • Southern California Regional Center in SEC investigation relating to US$50m raised under the EB-5 Immigrant Investor Program for residential golf course development where the SEC declined to proceed with any enforcement action against the client.
  • Muse Family Enterprises, and other investors, in obtaining a US$21m jury verdict relating to fraudulent financing of real estate projects throughout the country.
  • TPG Capital, Inc. in successful dismissal of shareholder derivative lawsuit relating to investment in a large chemical company, including sanctions award against plaintiff and the shareholder for filing frivolous claims.
  • Resort owner and developer in an FTC enforcement action in which the FTC sought over US$100m in restitution and damages relating to the sale and financing of residential development located in Belize.

Awards and Recognition

  • Phil has been selected for inclusion in the Southern California Super Lawyers® Rising Stars lists (2014–2020)

Affiliations

  • Member, American Bar Association
  • Member, State Bar of California

Presentations and Publications

Phil has authored publications relating to the regulation of mortgage-backed securities and credit rating agencies, which have been cited by various journals in the finance and banking industry.

  • Author, “Problematic Practices of Credit Rating Agencies: The Neglected Risks of Mortgage-Backed Securities,” Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future, John Wiley & Sons (2010)
  • Author, “Problems and Reforms in Mortgage-Backed Securities: Handicapping the Credit Rating Agencies,” Mississippi Law Journal, Vol.7, No. 4 (2010)
22 February 2023 Innovative Technology Insights

Kraken Settles SEC Charge That Its SAAS Model Was an Illegal Securities Offering

On February 9, 2023, the SEC announced that Kraken had settled charges alleging that it violated securities laws by failing to register the offer and sale of its “crypto asset staking-as-a-service program.”
07 February 2023 Article

The SEC and State Regulators Target Crypto Lending in Nexo Settlement

On January 26, 2022, the California Department of Financial Protection and Innovation (DFPI) announced its participation in a $22.5 million multi-state settlement with Nexo Capital Inc. (Nexo) relating to unregistered securities offerings in connection with the company’s retail crypto lending product.
28 September 2022 Article

The FTC Adopts New Strategy to Obtain Monetary Relief in California after the Supreme Court’s Ruling in AMG Capital

On September 19, 2022, the FTC and the California Department of Financial Protection and Innovation filed their first joint lawsuit in California federal court against several companies, and their alleged owners, for operating an allegedly illegal mortgage relief operation.
18 June 2020 In the News

Hosp, a Southern California Rising Star Honoree, Profiled in Super Lawyers Magazine

Partner Phillip Hosp was profiled in the Super Lawyers magazine article, “Bronze Star Recipient Phillip Hosp’s path to the law went through Iraq.”
09 June 2020 Press Releases

Foley Los Angeles Attorneys Named 2020 Southern California Rising Stars

Foley & Lardner LLP announced today that three Los Angeles-based attorneys have been named 2020 Southern California Rising Stars.
30 May 2019 Press Releases

Foley Los Angeles Attorneys Named 2019 Southern California Rising Stars

Foley & Lardner LLP announced today that three Los Angeles-based attorneys have been named 2019 Southern California Rising Stars.