David R Scott is the managing partner of Scott+Scott US and Europe. He represents multinational corporations, hedge funds and institutional investors in high-stakes complex litigation, including competition law, commercial, and securities actions.
Mr Scott’s competition law and antitrust experience includes matters dealing with unlawful price-fixing cartels, illegal tying and anti-competitive monopolisation. Currently, Mr Scott’s firm is lead counsel in In re Foreign Exchange Benchmark Rates Antitrust Litigation, a cartel action in the United States alleging a longstanding and widespread conspiracy to manipulate the foreign exchange market, in which billions in class settlements have been announced to date. His firm is also co-lead counsel in a class action case alleging that the world’s largest banks and their broker, ICAP, entered a conspiracy to manipulate ISDAfix, a financial benchmark that is tied to over $379 trillion of outstanding interest rate swaps around the world.
Mr Scott’s previous competition law and antitrust cases have resulted in significant recoveries for victims of price-fixing cartels. Among other cases, Mr Scott served as co-lead counsel in Dahl v Bain Capital Partners, an action alleging that the largest private equity firms in the United States colluded to suppress prices that shareholders received in leveraged buyouts and that Defendants agreed to settle for $600 million. He was also lead counsel in Red Lion Medical Safety v Ohmeda, a lawsuit alleging that one of the leading manufacturers of medical anesthesia equipment in the United States excluded independent service organisations from the market for servicing its equipment. The case was successfully resolved in settlement negotiations before trial.
In addition, Mr Scott has taken the lead in bringing claims on behalf of institutional investors, such as sovereign wealth funds, corporate pension schemes and public employee retirement funds, in cases involving mortgage-backed securities and toxic auction rate securities. These cases have resulted in hundreds of millions of dollars in recovery, as well as improvements in corporate practices.
Mr Scott is regularly invited to speak at competition law conferences around the world and before boards of directors and trustees responsible for managing institutional investments. He is frequently quoted in the press, including for the BBC and in publications such as The Financial Times, The Guardian, The Daily Telegraph, The Wall Street Journal and Law360.
Mr Scott is admitted to practise in New York, Connecticut, the United States Tax Court and numerous United States District Courts.
Mr Scott is a graduate of St Lawrence University (BA, cum laude, 1986), Temple University School of Law (JD, Moot Court Board, 1989) and New York University School of Law (LLM in taxation).
WWL says: The "one you want when the stakes are highest", say interviewees. Sources from around the US spoke of his quality and effectiveness
This biography is an extract from Who's Who Legal: Competition which can be purchased from our Shop.