David Siegal

Practices

Education and Clerkships

J.D., Stanford Law School, 1992, with distinction; Stanford Law Review, Notes Editor

B.A., Government, Cornell University, 1989, Phi Beta Kappa

Admissions

New York, 1993

Court Admissions

U.S. District Court for the Southern District of New York, 1994

U.S. Court of Appeals for the Second Circuit, 2001

U.S. Court of Appeals for the Fifth Circuit

Profile

David Siegal is a partner in the New York office of Haynes and Boone, and co-chair of the firm’s Government Enforcement and Litigation Practice Group. His practice focuses on government enforcement defense and internal investigations, as well as sophisticated securities and bank fraud, complex commercial litigation, and cybercrime, data security, and BSA/AML compliance.

David's representations in enforcement actions and investigations include:

  • The Chief Operating Officer and Director of multiple foreign financial services companies in Tax Division corporate tax fraud investigation into alleged multi-million dollar
  • An investment advisory firm in a Securities and Exchange Commission "pay to play" investigation
  • The General Counsel of an international food chain franchise in a federal grand jury investigation
  • A financial advisor at a Fortune 100 financial institution in a Department of Justice insider trading investigation
  • The chief Anti-Money Laundering officer of a major American bank in a Department of Justice criminal AML/BSA violation investigation
  • Several trading and sales personnel at major international financial institutions in multiple investigations by the DOJ, CFTC and foreign regulators into trading, benchmarking, mark-up practices and anti-competition issues involving foreign exchange, swaps and precious metals markets
  • The CEO and founder of international market consulting firm in indicted federal market manipulation and money laundering case
  • Multiple employees of major international financial institution in multijurisdictional FCPA and commercial bribery investigation
  • Executive of a mortgage servicing subsidiary of major international financial institution in RMBS investigations by the DOJ, the SEC and state regulatory authorities
  • A founder and CEO of an international oil and gas company in an FCPA investigation relating to alleged indirect payments to a director of a government-sponsored multinational financial institution
  • An executive of a Big Four accounting firm in international PCAOB obstruction and accounting fraud investigation
  • An executive of a major automobile manufacturer in DOJ investigation relating to National Highway Traffic Safety Administration issues and related civil litigation
  • A foreign corporation in a Bitcoin exchange related federal grand jury investigation
  • An internet technology executive in connection with a Computer Fraud and Abuse Act (CFAA) investigation
  • A hedge fund analyst in connection with a criminal “expert network” insider trading investigation
  • A Managing Director of an offshore equities trading subsidiary of a major Wall Street financial institution in connection with DOJ and SEC investigations into alleged trading improprieties
  • A cash handling and processing company, advising on shifting legal landscape regarding commercial marijuana distribution
  • A trading desk executive at a major financial institution in SEC and FINRA investigations relating to market access regulations
  • Several former credit-derivatives traders of a major financial institution in connection with a FINRA investigation concerning complex financial instrument trading practices
  • A former investment banking division chief of a major financial institution in connection with an SEC FCPA investigation

David's complex commercial litigation and courtroom practice experience includes:

  • Successfully obtaining summary judgment dismissing a federal civil case that sought $30 million on business tort claims against the Chief Operating Officer of major multinational financial conglomerate; he also won a highly unusual motion to invade the privilege, obtaining plaintiff’s attorney-client communications, based on the "offensive use" doctrine.
  • Successfully defending Marvel Entertainment in federal jury trial against multimillion dollar claim by inventor for breach of contract for royalties for Spider-Man Web Blaster role-play toy, resulting in full denial of claim.
  • Representing a group of companies in the business of securitizing and servicing real estate backed loans in a $100 million breach of contract action in New York federal court.
  • Successfully obtaining dismissal of multimillion dollar fraud and contract cases brought by investors against international oil and gas magnate in New York Supreme Court, Commercial Division.
  • At New York State's highest court - the Court of Appeals - and below, he Representing the bar associations of each of the five counties in New York in a pro bono litigation against the City and Mayor Bloomberg, challenging the constitutionality of the City's efforts to change the system of assignment of counsel to indigent criminal defendants.
  • Successfully obtaining preliminary injunctive relief in federal district court in New York on behalf of Krispy Kreme Doughnuts against a franchisee for Lanham Act trademark and trade secret claims.

Between 1999 and 2009, David served as an Assistant United States Attorney in the criminal division of the Southern District of New York, serving as a lead prosecutor on numerous complex white collar investigations and prosecutions, federal criminal jury trials and Second Circuit appeals. As a member of that office's Securities and Commodities Fraud Task Force between 2005 and 2009, David investigated and prosecuted a wide variety of securities industry related matters, including accounting fraud schemes, market manipulation, insider trading and investment adviser fraud. And between 2002 and 2005, as a member of that office's Major Crimes Unit and a Computer Hacking and Intellectual Property (CHIPs) prosecutor, David handled complex fraud prosecutions involving computer technology attacks, data security and intellectual property theft, as well as crimes involving corporate insurance, bank, tax and investment fraud.

David spent the first seven years of his career as a litigator with Paul, Weiss, Rifkind, Wharton & Garrison LLP and then Kronish Lieb Weiner & Hellman LLP (now Cooley Godward Kronish LLP).

David has been a guest-lecturer on insider trading law to MBA students at New York University's Stern School of Business, and he regularly provides regulatory training to financial services industry clients on insider trading and anti-corruption laws and regulations.

David has been recognized by New York Super Lawyers, Thomson Reuters, in Criminal Defense: White Collar, Business Litigation, 2011-2017. He was also recognized as one of The Best Lawyers in America, Woodward/White, Inc., in Criminal Defense: White Collar, 2013-2018, and Commercial Litigation, 2016-2018.

Honors

Super Lawyers

New York Super Lawyers Recognizes 16 From Haynes and Boone

Sixteen Haynes and Boone lawyers have been recognized as Super Lawyers and Rising Stars in New York’s 2017 Super Lawyers directory. The awards are based on peer recognition and professional achievements. Of those nominated, only five percent of the total lawyers in the state are selected for inclusion.


Published by Thomson Reuters in September 2017

Litigation

Haynes and Boone Secures Complete Victory for Financier Benjamin Wey

New York federal prosecutors have dropped all criminal charges against high-profile private equity executive Benjamin Wey, indicted in 2015 for alleged securities fraud and related charges. A trial in the matter was scheduled for October 2017.

Recognition

The American Lawyer

David Siegal Named American Lawyer Litigator of the Week

The American Lawyer highlighted Haynes and Boone Partner David Siegal as Litigator of the Week for success in getting a full dismissal of criminal charges against our client, private equity executive Benjamin Wey.

Professional and Community Activities

  • Federal Bar Council, Program Committee, Chair; Board of Directors
  • UJA Federation of New York, Lawyers Division, White Collar and Securities Enforcement Group, Vice-chair
  • New York Council of Defense Lawyers
  • American Bar Association: Litigation Section and Criminal Justice Section
  • New York State Bar Association, White Collar Crime Committee
  • Securities Industry and Financial Markets Association, Compliance & Legal Society (SIFMA/CL)
New York Law Journal

Charging Expert Network Participants With Wire Fraud

The U.S. Attorney for the Southern District of New York last fall described insider trading on Wall Street as "rampant and [perhaps] on the rise," and more recently, announced that his office is "far from finished" with its ongoing investigation into alleged illicit interrelationships between so-called "expert network" referral companies and hedge funds. Quietly, however, at least one of the government's charging decisions—to charge three company insider "experts" in United States v. Walter Shimoon, et al. with wire fraud, but not securities fraud—may signal that the government believes it faces a more complex legal landscape than first meets the eye...

Selected Client Representations

David's representations in enforcement actions and investigations include:

  • Representation of Company and individuals in investigation of trade secret theft and misappropriation of a competitor’s data.
  • The Chief Operating Officer and Director of multiple foreign financial services companies in Tax Division corporate tax fraud investigation into alleged multi-million dollar
  • An investment advisory firm in a Securities and Exchange Commission "pay to play" investigation
  • The General Counsel of an international food chain franchise in a federal grand jury investigation
  • A financial advisor at a Fortune 100 financial institution in a Department of Justice insider trading investigation
  • Several trading and sales personnel at major international financial institutions in multiple investigations by the DOJ, CFTC  and foreign regulators into trading, benchmarking, mark-up practices and anti-competition issues involving foreign exchange, swaps and precious metals markets
  • Multiple employees of major international financial institution in multijurisdictional FCPA and commercial bribery investigation
  • Executive of a mortgage servicing subsidiary of major international financial institution in RMBS investigations by the DOJ, the SEC and state regulatory authorities
  • A founder and CEO of an international oil and gas company in an FCPA investigation relating to alleged indirect payments to a director of a government-sponsored multinational financial institution
  • An executive of a major automobile manufacturer in DOJ investigation relating to National Highway Traffic Safety Administration issues and related civil litigation
  • A foreign corporation in a Bitcoin exchange related federal grand jury investigation
  • An internet technology executive in connection with a Computer Fraud and Abuse Act (CFAA) investigation
  • A hedge fund analyst in connection with a criminal “expert network” insider trading investigation
  • A Managing Director of an offshore equities trading subsidiary of a major Wall Street financial institution in connection with DOJ and SEC investigations into alleged trading improprieties
  • A cash handling and processing company, advising on shifting legal landscape regarding commercial marijuana distribution
  • A trading desk executive at a major financial institution in SEC and FINRA investigations relating to market access regulations
  • Several former credit-derivatives traders of a major financial institution in connection with a FINRA investigation concerning complex financial instrument trading practices
  • A former investment banking division chief of a major financial institution in connection with an SEC FCPA investigation

David's complex commercial litigation and courtroom practice experience includes:

  • Successfully obtaining summary judgment dismissing a federal civil case that sought $30 million on business tort claims against the Chief Operating Officer of major multinational financial conglomerate; he also won a highly unusual motion to invade the privilege, obtaining plaintiff’s attorney-client communications, based on the "offensive use" doctrine.
  • Representing a group of companies in the business of securitizing and servicing real estate backed loans in a $100 million breach of contract action in New York federal court.
  • Successfully obtaining dismissal of multimillion dollar fraud and contract cases brought by investors against international oil and gas magnate in New York Supreme Court, Commercial Division.
  • At New York State's highest court - the Court of Appeals - and below, he Representing the bar associations of each of the five counties in New York in a pro bono litigation against the City and Mayor Bloomberg, challenging the constitutionality of the City's efforts to change the system of assignment of counsel to indigent criminal defendants.
  • Successfully obtaining preliminary injunctive relief in federal district court in New York on behalf of Krispy Kreme Doughnuts against a franchisee for Lanham Act trademark and trade secret claims.

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