David Cheifetz is a seasoned commercial litigator with nearly fifteen years of experience advising businesses and individuals on litigation strategy from inception through trial and appeal. Mr. Cheifetz regularly appears in matters throughout the country in state and federal courts, including for motion practice, jury and bench trials, and appellate arguments. Mr. Cheifetz also represents clients in administrative proceedings, arbitrations, and mediations.
While Mr. Cheifetz has represented a diverse array of clients in various commercial matters, his practice focuses on defending major accounting organizations facing claims of professional malpractice, securities fraud, and other alleged misconduct. Additionally, Mr. Cheifetz assists accountants and auditors in responding to regulatory subpoenas and inquiries, complying with professional standards, and mitigating risk.
Of particular note, Mr. Cheifetz frequently defends claims brought against his accounting firm clients by trustees, foreign liquidators, and receivers following large-scale corporate frauds or bankruptcies. These complex, high-profile cases, which sometimes seek hundreds of millions of dollars or more in damages, often involve the defense of in pari delicto, which precludes a corporation or its insolvency representatives from suing its outside professional advisors to recover for a fraud committed by the corporation’s own managers. Mr. Cheifetz actively advocates on behalf of accountants for strong protections under this law in New York and elsewhere.
Along with his representation of accounting firms in such matters, Mr. Cheifetz counsels financial institutions, investment firms, housing cooperatives, and other business entities in cases involving securities, real estate, and contracts. He also regularly litigates critical procedural and jurisdictional issues such as removal to federal court and personal jurisdiction.
Mr. Cheifetz received his law degree, cum laude, from Boston College Law School and his undergraduate degree, magna cum laude, from Boston University.
- Represented international accounting organization in successful dismissal of numerous multi-billion dollar lawsuits arising out of the bankruptcy of Italian dairy conglomerate, Parmalat.
- Represented law professor amicus in New York Court of Appeals presenting arguments for applying the common law rule of in pari delicto to bar a suit by Refco Litigation Trustee against auditor defendants, which were adopted by the Court in a major decision reaffirming the application of the in pari delicto defense in auditor liability cases.
- Representation of accounting organization facing securities fraud claims arising from plaintiffs’ failed $100 million investment in bankrupt offshore hedge fund, including, in a matter of first impression, a successful appeal of an order remanding case to state court in excess of federal district court’s authority to abstain from hearing a proceeding related to a chapter 15 bankruptcy case.
- Representation of national accounting firm in arbitration of audit malpractice claims seeking eight-figure damages.
- Defended CEO of a subsidiary of major investment bank in a three-week administrative proceeding before the Securities and Exchange Commission, resulting in dismissal of all claims.
- Represented large cooperative corporation in litigation against the New York City Department of Finance successfully challenging the imposition of a multi-million dollar property transfer tax, which ultimately resulted in an affirmance by the New York Court of Appeals that the corporation owed no tax.
- Represented multi-billion dollar investment fund in a dispute concerning the net asset value of a real estate investment trust in bench trial in Southern District of New York.
- Represented nonprofit health services organization in litigation concerning the termination of a substantial grant award and successfully defended motion to dismiss on appeal to the First Department.
- Advised independent fiduciary of voluntary employee benefits association in multi-billion dollar dispute pertaining to valuation of call options in major auto manufacturer.
- Represented Wall Street investment firm in a two-week jury trial regarding veil-piercing claims brought in New York state court.
Honors & Awards
Mr. Cheifetz has been named as a Super Lawyers “Rising Star” since 2015.
Admitted To Practice
U.S. District Court, Southern District of New York; U.S. District Court, Eastern District of New York; U.S. Court of Appeals, Second Circuit; U.S. Court of Appeals, Seventh Circuit; U.S. Court of Appeals, Fifth Circuit; U.S. Supreme Court
J.D., cum laude, Boston College Law School, 2006
B.A., magna cum laude, Boston University, 2001
In The Spotlight
NewsBack To Full Bio
December 5, 2019 | Press Release
Stroock Names 12 New Partners and Special Counsel for 2020
October 14, 2016 | Accounting Today
James L. Bernard and David M. Cheifetz quoted in "Grant Thornton Wins Securities Class-Action Suit"
October 12, 2016 | Global Banking & Finance Review
James L. Bernard and David M. Cheifetz quoted in Global Banking & Finance Review
October 1, 2016
Stroock Represents Grant Thornton International Ltd in Successful Dismissal of Louisiana Securities Law Claims
December 14, 2015
Stroock Names Four New Partners and One Special Counsel for 2016
December 18, 2014
Stroock Wins Unanimous Decision for Middle-Class Residents of Trump Village 3, Inc.
September 21, 2009
Stroock Wins Victory on Behalf of Grant Thornton International in Parmalat Bankruptcy Lawsuits
PublicationsBack To Full Bio
June 8, 2015 | Law.com
"Fifth Circuit Sharply Limits Discretion to Remand Proceedings Related to Chapter 15 Bankruptcy Cases"
June 22, 2014 (Updated June 30, 2014)
"High Court May Soon Untangle Appellate Quagmire in Consolidated Cases"
March 7, 2014
"Walden v. Fiore: Where I Sued and What I Sued For"