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David A. Castleman is a Partner in Raines Feldman LLP’s Los Angeles and New York offices, working in the Litigation, Bankruptcy, and Fiduciary Representation groups.  Dave focuses primarily on representing federal equity receivers in financial matters, as well as complex litigation in state and federal courts.  Prior to joining Raines Feldman, Dave was Senior Counsel at a preeminent litigation boutique firm working primarily on receivership matters, including representing the court-appointed receiver in the Saddle River and Denari receiverships in the Northern District of California, and the Direct Lending Investments receivership in the Central District of California. 

Dave served as an Assistant Attorney General in the New York Investor Protection Bureau, where he helped achieve a groundbreaking, complex $714 million global settlement against a major financial institution on behalf of fraud victims, which resulted in equal treatment of the federal and state claims.  Dave also worked on pioneering efforts by the Attorney General to use the Martin Act to hold fossil fuel companies responsible for their contribution to climate change.

Before serving the public, Dave worked at Sullivan & Cromwell LLP in New York for many years, where he represented a major national bank in the resolution of billions of dollars of residential mortgage backed securities (RMBS) repurchase claims arising out of the 2007-08 financial crisis.  In both the Southern District of New York and the New York Supreme Court’s commercial division, Dave represented financial institutions defending contract and fraud claims brought by monoline insurance companies and securities claims brought by insurance companies that purchased RMBS bonds, one case resulting in a complete dismissal of all federal claims.

Dave’s pro bono practice at Sullivan & Cromwell included winning a new trial for a convicted felon in a published decision by the U.S. Court of Appeals for the Sixth Circuit, and spearheading a clinic in partnership with Immigration Equality to represent asylum seekers.  He was awarded the Michael A. Cooper Award for Outstanding Pro Bono Service for his efforts.

Dave received his J.D., cum laude, Order of the Coif, from the University of Pennsylvania Law School in 2006, where he served as Executive Editor of the Law Review.  Following law school, he clerked for Judge Deborah Cook on the United States Court of Appeals for the Sixth Circuit.

Significant Engagements & Transactions

  • Counsel to Bradley D. Sharp, the court-appointed receiver in SEC v. Direct Lending Investments, LLC (C.D. Cal.) (litigation ongoing)
  • Counsel to Kathy Bazoian Phelps, court-appointed receiver in SEC v. Bivona et al. (N.D. Cal.) (litigation ongoing)
  • Counsel to Kathy Bazoian Phelps, court-appointed receiver in CFTC v. Denari Capital LLC (N.D. Cal.) (litigation ongoing)
  • People v. Bank of New York Mellon (New York Supreme): Counsel to New York State in FX enforcement action that resulted in a groundbreaking global $714 million settlement that achieved parity between the United States and New York.
  • John Hancock v. JPMorgan Chase & Co. (Southern District of New York): represented defendants in $1 billion RMBS action that resulted in dismissal of federal claims and remand of state claims (938 F. Supp. 2d 440).
  • Ambac v. EMC, Syncora v. JPMSL, Assured v. EMC (New York Supreme & 1st Department Appellate Division): represented defendants in multi-billion-dollar contract and fraud cases in New York state court.
  • Counsel to large financial institution in resolving billions of dollars of repurchase claims arising from securitization of $60 billion in RMBS.
  • Moore v. Berghuis (U.S. Court of Appeals for the 6th Circuit): Court-appointed Appellate Counsel resulting in a victory for a habeas petitioner (700 F.3d 882), followed by successful opposition of certiorari in the United States Supreme Court.
  • [Confidential] v. USCIS: Won asylum for two individuals after a bench trial in New York immigration court.
  • BJ Energy v. PJM Interconnection (E.D. Pa.): Represented plaintiff and counter-claim defendant in complex energy case that settled favorably during trial.