about David Harrison
David Harrison has over twenty years of experience prosecuting complex class and individual actions on behalf of some of the world’s largest investors. He is currently litigating on appeal novel applications of the securities laws in both federal and State courts.
Noteworthy Cases & Achievements:
Mr. Harrison prosecuted the class action In re Juniper Networks News Securities Litigation, which involved a $900 million financial restatement resulting from the concealed backdating of millions of director and officer stock options. After four years of litigation, the Court approved a $169.5 million settlement with Juniper and Ernst & Young LLP, the company’s auditors.
Mr. Harrison litigated the WorldCom Securities Litigation, where the firm’s pension fund clients recovered 100 percent of their Securities Act damages sustained from their investment in WorldCom’s defaulted bonds. Mr. Harrison also has extensive expertise pursuing claims against third parties involved in the insolvency and bankruptcy of large financial institutions such as First Executive Life Insurance Company, Mutual Benefit Life Insurance Company, Reliance Insurance Company, and First Central Insurance Company.
Mr. Harrison successfully prosecuted claims on behalf of a large financial institution in the Countrywide Financial Corp. MBS Litigation, achieving a recovery substantially higher than the percentage of losses recovered by investors in the class case. Mr. Harrison prosecuted the class action In re Luminent Mortgage Capital, Inc. Securities Litigation, which resulted from the collapse and bankruptcy of Luminent Mortgage Capital, a company that invested in leveraged mortgage-backed securities and mortgage loans. The Court praised the settlement as particularly excellent due to the bankruptcy proceedings’ complexity and recovery.
With Barbara Hart, Mr. Harrison recently published the article “Another Alarm Blast as the Second Circuit Rejects Class Action Tolling of the Statuses of Repose” in the third quarter of 2013 edition of The NAPPA Report, the Journal of the National Association of Public Pension Attorneys. Mr. Harrison also co-authored “Don’t Bend ‘American Pipe’” New York Law Journal, November 7, 2012, and “NEC IBEW Health & Welfare Fund v. Goldman Sachs & Co.: The Implication on Class Standing and Why We Should Think About Amici Support Now,” The NAPPA Report, Vol. 26, Number 4, November 2012.
J.D. and L.L.M. New York University School of Law
B.A. Villanova University
New York; the U.S. Courts of Appeals for the 2nd, 7th, 8th, and 9th Circuits; the U.S. District Courts for the Southern and Eastern District of New York