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David Kornblau
David L. Kornblau
Partner
New York +1 212 841 1084 dkornblau@cov.com Download V-card

Clients turn to David Kornblau, chair of the firm’s Securities Enforcement practice group, to represent them in sensitive and complex investigations, related litigation, and internal investigations.

Chambers USA has ranked him for several years as one of the nation’s leading practitioners in securities enforcement, and most recently commented that he is "particularly adept at analyzing the weakness of a case through the prism of litigation and casting his clients' interests in the best possible light."

  • Persuaded the SEC to drop an intensive investigation of a public company’s revenue recognition practices.
  • Convinced a federal judge to narrow the scope of an SEC asset-freeze order in litigation against sixteen members of the Wyly family in the Southern District of New York.
  • Achieved a highly favorable settlement for the New York Stock Exchange in a widely reported SEC action involving the exchange’s dissemination of market data. No fraud or intentional wrongdoing was alleged, and no individuals were charged.
  • Successfully defended a senior executive of a public company and a former senior portfolio manager of a large hedge fund in separate SEC insider trading investigations. Neither client was charged.
  • Handled a novel and cost-effective settlement of an emergency SEC administrative action against a public company to deregister its stock based on its failure to file quarterly and annual reports. The settlement, achieved in eight days, allowed trading of the company’s stock to resume immediately and relieved the company of any obligation to cure its past filing deficiencies.
  • Significantly reduced the severity of SEC sanctions against two asset managers accused of breaching their fiduciary duties.
  • Represented a large regional bank in an SEC inquiry concerning its mortgage loan repurchase reserve. The SEC took no action against our client.
  • Represented a global technology company in an SEC investigation of its revenue recognition practices. The SEC took no action against our client.
  • Defending swaps traders in an ongoing CFTC investigation of potential manipulation of an interest-rate benchmark.
  • Representing FX traders in the global investigations of possible manipulation of foreign currency exchange markets.
  • Represented a major investment bank in CFTC, SEC, and CBOE inquiries arising from the "flash crash" on May 6, 2010. The SEC took no action against our client.
  • Negotiated a favorable settlement on behalf of a major investment bank in a FINRA investigation of alleged large proprietary wash sales.
  • Conducted an internal investigation on behalf of a financial services firm into an alleged retaliatory discharge by its chief compliance officer.
  • Represented a head subprime mortgage trader and other mortgage trading desk employees of several major investment banks in investigations by the SEC, the U.S. Attorney’s Office for the Northern District of California, the New York Attorney General’s Office, and the Nevada Attorney General’s Office. No charges were brought against any of our clients.
  • Successfully represented a trader in a NYSE Regulation inquiry concerning wash sales in equity index-linked notes.
  • Successfully represented a trader in a FINRA inquiry concerning a former colleague's alleged mismarking of credit default index tranche positions.
  • Defended Merrill Lynch in dozens of investigations concerning, for example, subprime mortgage securities, auction rate securities, information barriers, institutional sales and trading, retail brokerage, pension consulting services, research analysts, mutual funds, municipal securities, and Treasury securities.

Pro Bono

  • Co-lead counsel for the Disability Rights Network of Pennsylvania in a landmark civil rights action and settlement, which achieved a state-wide overhaul of Pennsylvania’s policies and practices for prisoners with serious mental illness.
  • Chambers USA - America's Leading Business Lawyers, Securities/Regulation/Enforcement (2012-2016)
  • Legal 500 US, Litigation: Securities (2015) and Financial Services: Litigation (2014) 
  • Finalist, Public Justice Foundation Trial Lawyer of the Year Award (2015)
  • Burton Award for Legal Achievement (2013)
  • New York Super Lawyers, Securities Litigation (2013)