David S. Frankel - Kramer Levin Naftalis & Frankel LLP

David S. Frankel

Listed in Best Lawyers since 2013

David S. Frankel is an accomplished advocate with more than 30 years’ experience representing senior executives, directors and corporations in complex, high-stakes white collar criminal investigations and prosecutions, government and regulatory enforcement actions, and arbitrations, including actions brought by the U.S. Department of Justice, the Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, the New York County District Attorney’s Office, the New York State Attorney General’s Office, the Financial Industry Regulatory Authority, and other government and administrative agencies. For securities industry clients, Mr. Frankel has handled cases involving allegations of improper practices including market manipulation, breach of fiduciary duty, false and misleading disclosures, and accounting fraud. He has also represented individuals and corporations in government investigations of pharmaceutical industry irregularities and political corruption, as well as in complex civil litigations and class actions, including securities class actions and commercial disputes.

Mr. Frankel’s notable matters include his representation of Rajat Gupta, the former Managing Director Worldwide of the McKinsey & Company management consulting firm, in both a criminal insider trading investigation in the Southern District of New York and a parallel SEC civil enforcement action. After a four-week criminal trial in June 2012, Mr. Gupta was acquitted of two counts of the indictment, but convicted on certain other counts. Mr. Frankel is also defending former Bear Stearns Chairman and Chief Executive Officer James Cayne in federal securities and ERISA class action litigation alleging fraud relating to Bear Stearns’ valuation, mortgage-backed securities, and liquidity and capital reserves. Mr. Frankel previously represented Mr. Cayne before the Financial Crisis Inquiry Commission in connection with its investigation of the 2008 financial crisis. Other significant recent cases include Mr. Frankel’s representation of a senior scientist of a major U.S. pharmaceutical company in a federal criminal investigation alleging violations of the Food, Drug, and Cosmetic Act, following which no charges were filed, as well as in related civil proceedings, and his successful representation of the chief accounting officer of a Fortune 100 company in a lengthy SEC investigation involving a number of complex accounting issues, including accounting for pension obligations, derivative transactions and currency hedging, after which the SEC declined to bring charges.

Mr. Frankel also conducts internal corporate investigations and advises clients on the design and implementation of compliance programs.

Additional Information

Court Admissions
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U.S.C.A., 2nd Circuit
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U.S.D.C., Eastern District of New York
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U.S.D.C., Southern District of New York
Experience

Represents James Cayne, the former Chairman and CEO of Bear Stearns, in federal securities and ERISA class action litigation, as well as in a prior investigation before the Financial Crisis Inquiry Commission.

Represented Rajat Gupta, former Managing Director Worldwide of McKinsey consulting firm, in insider trading investigations, including a four-week criminal trial in the Southern District of New York.

Defended a senior scientist of a major U.S. pharmaceutical company in a federal criminal investigation of potential violations of the Food, Drug, and Cosmetic Act, which concluded with no charges filed.

Represented the former chairman and CEO of a major drug manufacturer in a federal criminal investigation of allegations of misbranding and health care fraud.

Represented the chief accounting officer of a Fortune 100 company in a lengthy SEC investigation involving complex accounting issues, including accounting for pension obligations, derivative transactions and currency hedging. The SEC declined to bring charges.

Represented a senior trader of a major investment bank in SEC and Department of Justice investigations relating to municipal bonds and derivatives. No civil or criminal charges were ever filed against the client.

Yale UniversityBA 1976New York University School of LawJ.D. 1982
New York State Bar AssociationNew York City Bar Association American Bar Association

Client Comments

"David Frankel is a quick study in decoding complex cases and works very well with clients, other firms, and government authorities in presenting his clients and their positions in the best light. He is both a man of integrity and an outstanding advocate. I recommend him highly."

-Larry P. Ellsworth
Partner
Jenner & Block LLP

Office Location

1177 Avenue of the Americas
New York, NY 10036
United States


Practice Areas

Criminal Defense: White-Collar (Litigation)