David G. Russell
Partner | Atlanta Officedrussell@phrd.com
T: (404) 420-5545
F: (678) 533-7785
F: (678) 533-7785
Practice Group
Services
Education
- Davidson College - (B.A. in Economics, 1972)
- Vanderbilt University School of Law - (J.D., 1977)
Admitted to Practice
- Georgia
About David
Complex Business Litigation and Arbitration: David has over 30 years experience -- as an advocate, arbitrator, and mediator -- in successfully resolving complex business disputes. These class, mass, and individual cases have involved complex agreements for stock and asset purchases (including financial and accounting warranties), credit card and other data processing, merchant processing, money transfer agency relationships, construction, rapid transit car procurement, and uranium supply.
Securities Litigation and Arbitration: Since 1985, David has successfully represented major securities firms, public and private companies, and their agents in jury trials, arbitrations, and regulatory enforcement proceedings. These cases have included class actions, shareholder derivative claims, and retail customer suits involving corporate mergers, earnings restatements, product failures, complex derivative products, limited partnerships, mutual funds, equities, annuities, unauthorized wire transfers, emerging markets securities and related derivatives, municipal bonds and derivatives and other investments. They have been based principally on federal and state securities laws and regulations, common law theories, and ERISA. He has also represented securities firms in claims arising out of broker terminations, including libel, tortious interference, covenants not to compete, confidentiality agreements, and trade secrets. Going back to the mid-80s, illustrative clients include Lehman Brothers, Smith Barney, Merrill Lynch, Goldman Sachs, Wachovia Securities, Prudential Securities, Sanford Bernstein, Shearson, and E.F. Hutton. David has also defended securities-related federal criminal actions including money, property, and honest services wire fraud.
Jury Trial Experience: David began trying cases to the jury in 1977, his year of law school graduation, in the Superior Courts in Georgia. He has significant jury trial experience at both the state and federal level as lead counsel.
Arbitration Experience: David has tried over 100 arbitrations under the auspices of the American Arbitration Association, the National Association of Securities Dealers, the New York Stock Exchange, and FINRA. He has served as an arbitrator in commercial cases with the AAA for over 10 years.
Appellate Practice: David has argued appeals in the Fourth, Fifth, Ninth, and Eleventh Circuits, and the Georgia Supreme Court and has briefed cases nationwide, including petitions for certiorari to the United States Supreme Court.
Securities Litigation and Arbitration: Since 1985, David has successfully represented major securities firms, public and private companies, and their agents in jury trials, arbitrations, and regulatory enforcement proceedings. These cases have included class actions, shareholder derivative claims, and retail customer suits involving corporate mergers, earnings restatements, product failures, complex derivative products, limited partnerships, mutual funds, equities, annuities, unauthorized wire transfers, emerging markets securities and related derivatives, municipal bonds and derivatives and other investments. They have been based principally on federal and state securities laws and regulations, common law theories, and ERISA. He has also represented securities firms in claims arising out of broker terminations, including libel, tortious interference, covenants not to compete, confidentiality agreements, and trade secrets. Going back to the mid-80s, illustrative clients include Lehman Brothers, Smith Barney, Merrill Lynch, Goldman Sachs, Wachovia Securities, Prudential Securities, Sanford Bernstein, Shearson, and E.F. Hutton. David has also defended securities-related federal criminal actions including money, property, and honest services wire fraud.
Jury Trial Experience: David began trying cases to the jury in 1977, his year of law school graduation, in the Superior Courts in Georgia. He has significant jury trial experience at both the state and federal level as lead counsel.
Arbitration Experience: David has tried over 100 arbitrations under the auspices of the American Arbitration Association, the National Association of Securities Dealers, the New York Stock Exchange, and FINRA. He has served as an arbitrator in commercial cases with the AAA for over 10 years.
Appellate Practice: David has argued appeals in the Fourth, Fifth, Ninth, and Eleventh Circuits, and the Georgia Supreme Court and has briefed cases nationwide, including petitions for certiorari to the United States Supreme Court.
Representative Experience
- Mr. Russell has tried over 100 arbitrations under the auspices of the American Arbitration Association, the National Association of Securities Dealers, the New York Stock Exchange, and FINRA. He has served as an arbitrator in commercial cases with the AAA for over 10 years.
Professional and Civic Involvement
- Lawyers Club of Atlanta
- Atlanta Bar Association
- American Bar Association
- State Bar of Georgia since 1977
- For 15 years, provided pro bono representation to a Georgia man in various habeas corpus proceedings, who had previously been convicted of double murder and sentenced to death
Honors
- Selected as a Georgia Super Lawyer by Law & Politics Media and Atlanta Magazine (2004-present)
- Recognized as a leading Commercial Litigation practitioner by The Best Lawyers in America, David is also ranked as one of only 59 "Bet-the-Company" practitioners in the State of Georgia.
Representative Engagements
- For a prominent securities broker-dealer, recently obtained complete dismissal of an arbitration in which an investor claimed $20 million in damages (plus $1 million in attorney fees, plus interest and punitive damages) based on alleged failure to hedge to avoid his losses in a concentrated equity position. At the hearing, the investor presented 20 witnesses, including his wife (a judge), a lawyer, an Emory business school professor, a CPA, an investment advisor, a PhD in Economics, two other securities expert witnesses, and six current and former brokers.
- Represented a major European bank as part of an appellate team that recently won an affirmance from the Eleventh Circuit Court of Appeals of the district court's complete dismissal of a $30 million fraud and RICO matter, all stemming from an allegedly fraudulent tax shelter program.
- Obtained $20 million settlement for public company to resolve disputes arising out of the sale of one of its business divisions and whether multimillion dollar antitrust claims were retained by seller
- Successfully defended major check authorization company against putative class action claims under the Fair Credit Reporting Act and the Drivers Primary Protection Act; obtained summary judgment and dismissal respectively in these cases, pending in federal court in Texas and Alabama, and also obtained denial of class certification
- Defended securities firm in putative class action involving interest rate swap agreement related to municipal bond issuance
- Defended securities firm in bankruptcy adversary proceeding involving alleged fraudulent transfers from now-defunct hedge funds
- In three-week jury trial in Florida, successfully defended securities and commodities firm against multiple claims brought by brain-damaged and disabled investor, and sustained verdict on appeal
- Negotiated $85 million settlement with State of Georgia relating to a contingency-fee consulting contract for federal financial assistance
- Prevailed on behalf of securities firm in multi-week NASD arbitration hearings involving alleged libel, slander, and tortious interference arising from broker termination
- Resolved through a series of arbitrations and mediations securities claims arising out of leveraged and derivative emerging markets products in which South American customers invested heavily
- Successfully defended outside directors and large stockholders of public company in corporate derivative and federal securities fraud claims pending in both state and federal courts in Georgia arising out of accounting restatement
- Successfully obtained dismissal of mass and individual actions arising out of Centennial Olympic Park bombing during 1996 Olympic Games in Atlanta, and prevailed on appeal to Georgia Supreme Court
- Resolved major commercial dispute concerning credit card processing agreement between bank-issuer and processor
Publications and Presentations
- Author, "Russell's Better Brief Writing Guide," 7 Ga. Bar J. 42 (2002)
- Panelist, Eleventh Annual Corporate and Business Organization Litigation seminar on the topic of "Managing the Big Picture -- Multiple Problems, Claims and Proceedings with In-House Counsel Under Fire"
- Arbitrating Securities Class Actions - Panelist "Arbitrating Securities Class Actions (ABA Section of Litigation Annual Conference, May, 2009), in which a number of nationally prominent securities and arbitration practitioners discussed the viability of securities class arbitrations; recent awards and court rulings related to securities class arbitrations; the practicalities of administering a class arbitration; and recent changes in the rules governing securities arbitrations before FINRA.