Lesser, David

David Lesser

David Lesser focuses his practice on representing financial institutions in litigation and regulatory matters. He is a highly skilled litigator who has experience handling a wide variety of civil litigation matters, including extensive experience with appellate litigation and defense of complex securities, commodities and consumer banking class actions. Mr. Lesser has represented clients in cases involving claims arising under securities laws, antitrust, CEA, RICO, FCRA, TILA, contract, and tort law claims, among others. He has also represented financial clients in bank regulatory examination and enforcement matters involving the CFPB, FDIC, OCC, and other federal and state regulators. He also regularly provides regulatory counseling to financial institutions, including conducting compliance reviews concerning federal and state consumer financial laws. 

Background

Mr. Lesser received his JD from Yale Law School in 2001. While pursuing his JD, Mr. Lesser also obtained a graduate M.Phil. degree in American Studies. Upon graduating from law school, he clerked for the Honorable Rosemary Barkett of the United States Court of Appeals for the Eleventh Circuit. 

Experience

  • Recent Litigation Highlights

    • Represents large financial institution in connection with all civil litigation arising out of alleged LIBOR manipulation, alleging antitrust, commodities manipulation and other claims
    • Represents another large financial institution in connection litigation arising out of alleged CDOR manipulation, alleging antitrust, commodities manipulation and other claims
    • Represents large financial institution in connection with all merchant and consumer antitrust litigation concerning the setting of interchange fees (e.g., In re Payment Card Interchange Fee and Merchant Discount Antitrust Litig.; Salveson v. Bank of Am. et al.)
    • Represented large financial institution in connection with high-frequency trading civil class litigation
    • Represented large financial institution in connection with federal securities litigation arising out of the subprime crisis and related matters
    • Represented large financial institution in connection with litigation concerning alleged market-making of unregistered securities
    • Represented large financial institution in connection with consumer class-action litigation concerning forfeiture of credit card rewards points
    • Represented two defendant underwriters in connection with 55 industry-wide cases alleging violations of Section 16(b) short swing profit regulations in connection with certain initial public offerings 
    • Represented large financial institution in connection with consumer class-action litigation concerning overdraft fees and transaction posting order (In re Overdraft Fee Litig.)
    • Represented several underwriter defendants in IPO-related antitrust and securities class action litigation (e.g., In re Initial Public Offering Securities Litigation; In re Initial Public Offering Antitrust Litigation; In re Public Offering Fee Antitrust Litigation; and Friedman v. Salomon Smith Barney Inc. et al.
    • Represented large financial institution in connection with consumer class-action litigation arising out of credit-card APR repricing
  • Recent Regulatory Highlights

    • Counseled large financial institution in connection with review of credit-card add-on products
    • Represented numerous large financial institutions in connection with examinations and enforcement actions by various federal regulators including the CFPB, OCC, and FDIC
    • Counseled large financial institution in connection with fair lending issues
    • Counseled large financial institution in connection with exportation of interest rates
    • Counseled several large financial institutions in connection with compliance with UDAAP and other federal and state consumer financial laws
    • Counseled large consumer electronics merchant in connection with review of payment plan and compliance with federal and state consumer financial laws
    • Counseled large reverse-mortgage lender in review of compliance with federal consumer financial law

Recognition

Insights & News

Credentials

  • Education

    • JD, Yale Law School, 2001

    • MPhil, Yale University, 1999

    • BA, University of Virginia, 1991

  • Admissions

    • New York

  • Clerkships

    • The Hon. Rosemary Barkett, US Court of Appeals for the Eleventh Circuit, 2001 - 2002

Credentials