David I Schiefelbein

Practice Areas

David I. Schiefelbein is a Principal in the New York office of McKool Smith. David focuses on complex commercial litigation, particularly securities and qui tam actions. As counsel to leading public companies, global banks, private equity firms, and hedge funds, David handles all aspects of civil litigation and is adept at crafting creative and strategic dispute resolutions. His full understanding of his clients’ goals and objectives, coupled with his dedication to client service, has forged many long-term relationships and ensures that he consistently exceeds expectations.

Most recently, David’s practice has centered on mortgage-backed securities, collateralized debt obligations, and high-volume mortgage servicing. He represents trustees and investors, primarily large financial institutions and hedge funds, in federal and state court actions, alleging fraud, breach of contract, misrepresentations, and the inadequate servicing of mortgage loans that underlie securitizations packaged for investors. He also has significant experience representing servicers in litigation stemming from the acquisition of servicing rights, including the enforcement of representations and warranties against the transferor servicer.

David has substantial appellate experience and recently obtained favorable results before the New York Appellate Division, First Department—

- Representing an investor in an Article 77 matter addressing the distribution of a $4.5 billion settlement payment by JP Morgan Chase, where the First Department upheld the lower court and ruled in favor of the investor on each distribution interpretation it had argued for;

- Representing Nationstar Mortgage LLC (nka Mr. Cooper) against Generation Mortgage Company and Guggenheim Partners, LLC, where the First Department reversed the lower court and found that Nationstar was entitled to indemnification for losses sustained after the sunset period set forth in the contract.

In his practice representing relators and government entities under the federal and state False Claims Acts (FCA), he has helped to obtain a jury verdict on liability against the largest domestic manufacturer of PVC pressure pipe and the largest FCA settlement ever paid by an educational institution (U.S. ex rel. Washington and Mahoney v. EDMC).

An ally in his community, in conjunction with the Battered Women’s Legal Advocacy Project and the New Jersey Battered Women’s Service, David has represented women seeking final restraining orders against their abusers in state court.

Education