David Lopez’s practice focuses on corporate matters and financial transactions across governance, public reporting, capital markets, finance, liability management, digital assets, and distributed ledgers.
He has extensive experience with initial public offerings for domestic and foreign private issuers, public and private equity, debt and structured securities offerings, and with a range of liability management transactions such as issuer self-tender, exchange offers, consent solicitations, and open market strategies.
David also co-leads Cleary’s practice in digital assets and distributed ledger applications, representing payment companies, exchanges, custodians, and corporates. His work includes both structuring and securities law compliance.
David joined the firm in 1989 and became a partner in 1998.
Notable Experiences
Counseled a number of issuers on corporate finance, corporate governance, securities/disclosure, and/or liability management, including for Alcoa, Arconic, Citigroup, Credit Suisse, Global Foundries, HCA Healthcare, HigherOne, IASIS Healthcare, International Flavors and Fragrances, Liberty Mutual, McDonalds, PEMEX, Petrobras, Sabre, Sotera Health, Starbucks, Surgical Care Affiliates, The Hartford Financial Services Group, Verisign, Verizon, and Walgreens Boots Alliance.
Advised various underwriters on debt and equity offerings, including for American Express, Amkor Technology, BlackRock, Citizens Republic Bancorp, Heartland Payment Systems, Ladenburg Financial, Patriot Coal Corporation, Pacific Life, PROS Holdings, Regions Financial, Teva Pharmaceuticals, Unum Group, and XLCapital.
Advised in various liability management transactions, including tender offers, exchange offers, and consent solicitations for AIG, CEMEX, CFR Pharmaceuticals, Citigroup, Credit Suisse, Codelco, Forest Laboratories, Kindred Healthcare, Liberty Mutual, PEMEX, Petrobras, Playa Resorts, Verizon, and Zions Bancorporation.
Issuers’ counsel in a number of SEC-registered IPOs, including for Global Foundries, Higher One Holdings, Sabre, Sotera Health, and Surgical Care Affiliates.
Underwriters’ counsel in a number of SEC-registered IPOs, including for Adeptus Health, Aptalis Pharmaceuticals (subsequently purchased), IMS Health, MasterCard, and VMware.
Represented major digital asset custodians, payment companies, investment funds, ecommerce platforms, and corporates on various projects to develop or analyze lending, staking, stablecoin-as-a-service, tokenized real-world asset, and/or utility token projects in compliance with U.S. regulations.
Publications
Jury Decision Lends Support for “Shadow” Insider Trading Theory
It’s Not Going to Be Easy Being Green: Final SEC Climate Rules
Delaware Court of Chancery Invalidates Common Provisions in Stockholder Agreements
AI May Do Wonders for Your Business, But What About Your Risk Profile?
The Need for a Modernized Response to Financial Product Regulation
The Potential U.S. Federal Shutdown – Planning Considerations for Our Clients
Second Circuit Affirms Syndicated Loans Are Not Securities, Avoiding Market Disruption
IFRS Releases New Global Sustainability Disclosure Standards
Supreme Court Adopts Strict Section 11 Tracing Requirement in Slack’s Direct Listing
Corporates Face Novel Risks From Debt Ceiling Impasse—Even if No Default Occurs
SEC Imposes Largest-Ever Audit-Firm Penalty in Exam-Cheating Case
The SEC Climate Disclosure Proposal – Top Ten Issues for Comment
Climate Change Disclosures – Three Deep Dives Into the SEC Proposal
The Materiality Debate and ESG Disclosure: Investors May Have the Last Word
Divided Ninth Circuit Finds Securities Act Standing for Purchasers in Slack’s Direct Listing
SEC Charges Eight Companies and Signals Need for Better Disclosures About Delayed Filings
Corporate Sustainability: Moving Faster and Faster to the Center of Strategy and Shareholder Value
SEC Harmonizes Regulation and Improves Access to Capital in Private Markets
SEC Proposes a Significant Change in Reporting by Institutional Investors
Q2 Reporting: How Should a U.S. Public Company Quantify the Impact of COVID-19?
Slack’s Direct Listing - Court Allows Securities Act Claims Without Requiring Tracing
First Quarter Earnings and COVID-19: SEC Officials Ask for More
SEC Proposal: Improving Access to Capital in Private Markets
Leading Disclosure Issues for U.S. Public Companies in the COVID-19 Era
SEC Proposes Amendments to the Definition of Accredited Investor
Events
October 27, 2022
April 9, 2020
Governance Watch Webcast: COVID-19: What Companies and Boards Should Be Considering
May 10, 2018
April 17, 2017
October 16, 2014
The Conference Board's "Recent Developments Related to Earnings Guidance" Webcast
December 16, 2011