David is counsel in the Litigation and Enforcement practice group. David represents investment advisers, financial institutions, public companies, and senior executives in civil and criminal enforcement matters before the DOJ, SEC, CFTC, self-regulatory organizations, and other state and foreign regulators.
David’s practice focuses on defending clients in investigations, prosecutions, and other enforcement actions relating to fraud and other market misconduct under the federal securities and commodities laws including insider trading, market manipulation, accounting and disclosure issues, and other prohibited activities in the securities, futures, and other derivatives markets. David also advises hedge funds, private equity firms, and other investment advisers, banks, and broker/dealers regarding the exercise of their fiduciary duties, conflicts of interests, trading practices, and fees and expenses disclosure under the federal securities laws. In addition to representation before the enforcement and regulatory agencies, David has run internal investigations and reviews on behalf of clients in these matters as well. Lastly, David also counsels clients on matters relating the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and other anti-corruption laws. David’s pro bono practice has included the successful representation of low-income tenants in the District of Columbia landlord-tenant court as well veterans before the U.S. Court of Appeals for Veterans Claims.
Before joining the firm, David clerked at the U.S. Court of Federal Claims and served as an officer in the U.S. Marine Corps.
- Represented several hedge fund and financial services clients in SEC and DOJ investigations into potential insider trading and other market abuse practices.
- Counsel to several private equity firms in ongoing enforcement inquires related to fiduciary duty issues arising out of their receipt of fees and payment of certain expenses, as well as disclosures related to conflicts of interests. Negotiated settlements with the SEC on favorable terms
- Lead trial counsel representing defendant in a federal criminal securities fraud and tax evasion case in the District of Columbia.
- Represented hedge fund and its founder in large-scale DOJ and SEC insider trading enforcement action as part of wide-ranging investigation into expert networks that ultimately avoided any charges against the founder and led to a successful resolution for the hedge fund entity.
- Represented senior trader before the CFTC and DOJ regarding potential spoofing and other disruptive trading practices under the Commodities Exchange Act. Negotiated settled resolution with the CFTC.
- Advised and represented large financial institution before the SEC, CFTC, FINRA, and other SROs in regulatory inquiries concerning commodities, futures, and other derivatives trading practices.
- Represented senior executive at a publicly held company subject to a U.S. Dept. of Justice criminal securities and wire fraud prosecution. Successfully avoided all charges against our client.
- Was first attorney on the ground as part of a fast moving internal inquiry on behalf of the company’s Audit Committee of the Board of Directors into certain accounting irregularities pertaining to an international facility. We were brought into the case late in the company’s SEC reporting cycle and worked rapidly with teams of lawyers and accountants in the U.S., Mexico and Europe to quantify an issue at a plant in Mexico, rule out similar issues at plants around the world, and assist the company with completing a restatement and self-report to the SEC. Our quick work allowed the company to avoid unnecessary harm to its investors due to the uncertainty associated with an open inquiry, which appeared to have helped the company avoid class action lawsuits that typically accompany these matters.
- Counseled public company clients in the financial services, e-commerce, consumer products, and technology sectors in internal investigations into potential bribery and accounting fraud issues in the U.S., South America, and Asia.
- Obtained complete dismissal of private securities fraud action against public biotech company and its president in Maryland state court.
- Conducted Foreign Corrupt Practices Act compliance due diligence reviews and developed FCPA compliance programs for a large private multinational oil & gas corporation.
- Counsel to a hedge fund manager in litigation regarding a debt investment in a pharmaceutical corporation in the Delaware Court of Chancery.
- Assisted in the successful defense of a large financial institution against a civil RICO claim before the U.S. Court of Appeals for the 6th Circuit.
- Co-author, “The CFTC and Market Manipulation,” Harvard Law School Forum on Corporate Governance and Financial Regulation (December 31, 2018)
- Co-author, “SEC Ratification for Defective Administrative Proceedings,” Harvard Law School Forum on Corporate Governance and Financial Regulation (September 18, 2018)
- Co-Author, “Unanswered Questions Following the Supreme Court’s Holding in ‘Lucia v. SEC’,” Bloomberg BNA’s Securities & Capital Markets (June 28, 2018)
- Quoted, “Supreme Court: No 'Armageddon' for shareholder class action suits,” Fortune (June 24, 2014)
- Quoted, “Court Raises Bar for Securities Class Action Cases,” Associated Press (June 23, 2014)
- Quoted, “U.S. top court adds limit to securities class actions,” Reuters (June 23, 2014)
- Quoted, “Supreme Court Leaves Fraud On Market Intact, Makes Life A Bit Harder For Securities Plaintiffs,” Forbes (June 24, 2014)
- John Donovan & David Nasse, "In Halliburton, SCOTUS Largely Preserves Status Quo," Law360, June 23, 2014