David Sheeren

Partner
713.751.5207

[email protected]

Katie Stehling

Assistant
713.751.5272

[email protected]

David Sheeren focuses his practice on complex commercial litigation, with an emphasis on energy, securities, and structured finance litigation.

David is a member of the Gibbs & Bruns team that has recovered over $16 billion for investors in Residential Mortgage-Backed Securities (RMBS).

Prior to law school, David worked in the securities and finance practice of NERA Economic Consulting.

Media Highlights
David Sheeren – Texas Lawyer “Lawyers on the Rise” Honoree
Most Feared Plaintiffs Firm: Gibbs & Bruns LLP 

Representative Matters

Securities and Structured Finance Litigation

  • Lead counsel for PIMCO, Goldman Sachs Asset Management, BlackRock, Kore Advisors, and FHLB Atlanta in dispute over payment waterfall terms in 278 legacy residential mortgage-backed securities (RMBS) trusts, in which an opposing hedge fund seeks a change in interest calculations that would wrongfully divert over $250 million in cash flows away from our clients and other investors in the trusts.
  • Represent 20+ of the world’s largest institutional investors in disputes with JPMorgan, Bank of America, Citigroup, Lehman Brothers, and ResCap concerning thousands of RMBS trusts created prior to the financial crisis. These suits have resulted in over $16 billion in recoveries to investors and have reformed mortgage servicing practices for hundreds of thousands of loans.  Represent the same investors in follow-on disputes with a variety of hedge funds, monoline insurers, and other investors over the distribution methodology for over $2 billion of the JPMorgan and Lehman settlement proceeds. 
  • Represent Fannie Mae in suit seeking $800 million in recoveries against some of the world’s largest banks for manipulating LIBOR and breaching their derivatives contracts with Fannie Mae.
  • Represented investor in residual certificates in Ginnie Mae securitizations in suit against trustee for wrongfully usurping in excess of $10 million in proceeds from collateral auctions in connection with terminations of the securitizations. Following a favorable appellate decision from New York’s intermediate court of appeals, the case was resolved.
  • Defended former Chief Executive Officer of major energy company in SEC enforcement matter and in civil securities litigation brought by individual plaintiffs. We successfully moved to dismiss the individual suit, and the SEC enforcement matter was resolved.
  • Provide ongoing advice to institutional investors concerning a wide array of securitization and mortgage servicing disputes.

Energy

  • Represent Eagle Ford operator in suits brought by royalty interest owners concerning royalty calculations and gas processing practices.
  • Represented Permian Basin operator in a variety of disputes with lessor concerning operator’s alleged development obligations.
  • Represented BHP in suit brought by non-operating working interest owner, relating to BHP’s gathering, expense deduction, and artificial compression practices.
  • Represent an affiliate of Kinder Morgan in dispute concerning abandonment liability for offshore pipeline segments following a significant transaction.
  • Represented Vantage Drilling Company in fraud and breach of fiduciary duty suit against former director and one-third owner of company. Following several years of proceedings in Texas state court, bankruptcy court, the Fifth Circuit Court of Appeals, and AAA arbitration, the case was resolved favorably.

Complex Commercial Litigation

  • Represent President and former Treasurer of family-held timber company holding tens of thousands of acres of timberlands in suit seeking the dissolution and equitable division of the company’s assets, among other relief. A two-week final hearing in a AAA Arbitration took place in December 2019, and the case is ongoing.
  • Represented numerous portfolio companies of two Houston-based private equity firms in a variety of complex commercial litigation, including disputes over post-closing purchase price adjustments, indemnity claims, and real estate matters.
  • Represented barge company in fraud and breach of contract suit against manufacturer of faulty industrial pumps, which caused millions of dollars in damages to our client. Following the first week of a jury trial in federal court, the case was resolved favorably.

Education

Harvard Law SchoolJ.D.cum laude2011
  Harvard Journal of Law and Public Policy, Executive Editor
  Program on International Financial Systems Prize

University of PennsylvaniaB.A.summa cum laude2006
  Economics and International Relations, Minor in Mathematics
  College Alumni Society Prize in International Relations

Recognition

Named in Legal 500 US
  Recommended in Securities Litigation: Plaintiff, 2015-2019

Profiled in Texas Lawyer’s “Lawyers on the Rise,” 2017

Named a “Texas Rising Star” by Texas Super Lawyers, 2017-2019

Admissions and Certifications

State Bar of Texas2011
United States District Court for the Southern District of Texas

Memberships and Affiliations

Houston Bar Association, Member
Houston Bar Foundation, Fellow

Press