David A. Jones is an experienced litigator whose practice focuses on complex litigation, particularly litigation involving the financial services industry. He represents insurance companies, securities broker-dealers, investment advisory firms, and individuals involved in those industries in matters involving the full spectrum of insurance and securities products and services. David also advises clients in the emerging, rapidly changing field of technology law.
Class actions and complex litigation
David has successfully defended dozens of insurance and securities class actions across the country, including several multidistrict litigation proceedings. These matters have involved individual and group life and disability products, variable annuities and other securities products, and property and casualty, homeowners, and auto policies. David has defended representative claims by states involving unclaimed property practices. David has also been involved in both prosecuting and defending securities fraud class actions involving claims against insurance companies, securities broker-dealers, accounting firms, oil and gas companies, and consumer electronics firms. Some of these cases involved alleged misrepresentations or non-disclosures by the defendant companies, others involved stock price declines allegedly attributable to false or misleading public statements by the defendant, and others involve accounting fraud.
In addition, David has handled cases involving a wide variety of class actions in other industries, including consumer fraud claims against the makers of herbal and other dietary supplements, energy contract disputes, Fair Labor Standards Act cases, environmental contamination cases, mergers and acquisitions disputes, and other matters of corporate control and governance. David also prosecuted a pro bono class action on behalf of individuals victimized by real estate home equity fraud. Recently, David has expanded his practice to include class actions involving data breaches and other cybersecurity issues.
Apart from his class action experience, David has defended hundreds of lawsuits against insurers, insurance brokers, and insurance agents, and has tried and won numerous jury and bench trials. Cases David has defended have involved alleged misrepresentations by the company or its agents, claims that the product was not suitable for the customer, claims regarding the use of life insurance and annuities in benefit or estate plans, claims that the replacement of one product with another was not in the customer’s interest, and a wide range of other sales practices issues. David has also prosecuted rescission cases based on policyholder misrepresentations and has prosecuted and defended death claim disputes involving misrepresentations or in which the named beneficiary was ineligible to receive the insurance benefits. David has handled first and third party bad faith and deceptive trade practices claims involving life, annuity, property and casualty, homeowners, and auto policies. He has also handled coverage disputes under life, property casualty, homeowners, and professional liability policies (including policies issued to insurers and securities broker-dealers, directors and officers, lawyers, accountants, among others). David has both prosecuted and defended reinsurance arbitrations involving life, annuity, and property and casualty reinsurance treaties.
David has handled a wide range of securities-related matters, including claims by investors that their securities firm, broker, or investment advisor made unsuitable investment recommendations, churned their accounts and failed to properly service the account by updating investment recommendations to changed life circumstances or to market conditions. David has also represented both firms and individual brokers or investment advisors in connection with non-compete and non-solicitation agreements, typically when a broker leaves and tries to take customers along, in violation of the broker’s employment agreement with his prior firm. David has also represented firms in “selling away” cases, in which the broker sells investment products that are unapproved by the firm or sells a competitor’s products instead of the firm’s own. David has represented broker-dealers and individual brokers in investigations and regulatory enforcement actions initiated by the SEC, FINRA and the Texas State Securities Board. These matters have involved customer complaints to regulators that the regulators investigated and, in some cases, prosecuted as well as supervision issues, licensing issues, and other compliance issues raised directly by the regulators.
Other financial litigation
David has advised financial services companies, investment funds and other parties involved in insurance insolvency matters with state regulators and in the courts, including proceedings involving several mortgage insurers that failed in the wake of the 2008 financial crisis.
Other Court Admissions — U.S. Court of Appeals for the 3rd. 4th, 5th, 6th, 7th, 9th and 11th Circuit
U.S. District Court for the Eastern, Northern, Southern and Western Districts of Texas
U.S. District Court for the Northern, Central and Southern Districts of California