David LeRay is a partner in Quinn Emanuel’s New York office. He joined the firm in 2013. His practice focuses on antitrust, intellectual property, and class action litigation.
David has secured over $3 billion in settlements for his clients through his plaintiff-side antitrust practice. David played a central role in the matter In re Credit Default Swaps Antitrust Litigation, which resulted in a $1.86 billion settlement for the class of CDS traders. David also played a central role in achieving class certification in the matter Iowa Public Employees Retirement System et al. v. Bank of America Corp., which resulted in a settlement with nearly all Defendants for $580 million.
In the case City of Philadelphia v. Bank of Am. Corp., David took point on defending the Plaintiffs’ lead economic expert at the class certification hearing in August 2023, an event covered by The American Lawyer (https://www.law.com/litigationdaily/2023/09/26/in-the-latest-quinn-emanuel-antitrust-win-against-big-banks-2-associates-help-make-the-case-for-class-cert/). During the argument, David explained how the model reliably controlled for market-wide economic phenomenon like the 2008 financial crisis. David also addressed complex econometric questions from the Court about the specifics of Plaintiffs’ model.
David currently serves as court-appointed co-lead class counsel in the matter In re: Valve Antitrust Litigation, representing a class of computer game publishers against Valve. The proposed publisher class was certified on November 26, 2024.
- IQVIA
- The Home Depot
- UPS
- Samsung
- IBM
- Block
- Boston Children’s Hospital
- Ollywan
- Proton
- XTX Markets Limited
- DSquare Trading Limited
- Vizgen
- Represents classes of consumers in several matters against Amazon alleging antitrust violations related to Amazon’s pricing practices on Amazon.com. Quinn Emanuel achieved class certification for the class of consumers who purchased directly through Amazon.com in August 2025.
- Represents a class of computer game publishers against Valve alleging antitrust violations related to Valve’s pricing practices in the Steam Store. Quinn Emanuel achieved class certification in November 2024.
- Represents a certified class of VRDO issuers alleging collusion in the VRDO market. Quinn Emanuel obtained class certification on September 21, 2023 with the class seeking classwide damages of over $4 billion before trebling.
- Represents a certified class of stock loan lenders and borrowers against Bank of America. Quinn Emanuel previously obtained a $581 million settlement with important injunctive relief with all of the Defendants other than Bank of America.
- Represents a putative class of application developers against Apple alleging antitrust violations related to Apple’s App Store.
- Represents a putative class of FX investors alleging collusion to create an undisclosed priority trading scheme on the Currenex trading platform. Plaintiffs moved for class certification in November 2025.
- Represents Boston Children’s Hospital in an antitrust case against the various Blue Cross Blue Shield entities concerning alleged territory allocation and other anticompetitive practices.
- Represents Ollywan Ltd. in an antitrust case against Meta concerning anticompetitive practices in digital tag-based shopping technology.
- Represented Vizgen, Inc. in antitrust and unfair competition claims against 10x Genomics and Harvard University.
- Represented The Home Depot in an antitrust lawsuit against Visa and MasterCard concerning allegedly unlawful practices that caused The Home Depot and other U.S. merchants to pay inflated fees when they accept credit and debit cards.
- Represented United Parcel Service, Inc. in matters before the Postal Regulatory Commission involving competition in parcel delivery markets.
- Represented IQVIA (formerly IMS Health), a leading provider of information, services, and technology in the health care field, in trade secrets and antitrust litigation against Veeva Systems.
- Represented a class of approximately 43,000 aerospace workers alleging a “no poach” conspiracy among Pratt & Whitney (RTX), Belcan, Cyient, QuEST, Agilis, and Parametric Solutions. Quinn Emanuel obtained a $60.5 million settlement in 2025.
- Served as class counsel in In re Credit Default Swaps Antitrust Litigation, representing a proposed class of investors in credit default swaps, alleging that the major dealer banks, and standard-setting and data entities they control, conspired to prevent the development of competition from exchanges and clearinghouses in this market. The defendants agreed to pay over $1.86 billion to settle the case, which is one of the largest antitrust class actions in history.
- Served as one of the principal lawyers in the ISDAfix Antitrust Litigation, where Quinn Emanuel served as one of the court-appointed Lead Counsel class of investors in interest rate derivatives who were allegedly harmed when the defendant banks conspired to manipulate the “ISDAfix” reference rate, a key interest rate benchmark. Quinn Emanuel achieved settlements totaling over $500 million in this case.
- Harvard Law School
(J.D., cum laude, 2013) - Worcester Polytechnic Institute
(M.S., Applied Mathematics, 2007) - Worcester Polytechnic Institute
(B.S., high distinction, Mathematics and Mechanical Engineering, 2005)
- The State Bar of New York
- BAE Systems:
- Senior Research Engineer, 2007-2009
- Legal 500, Dispute Resolution: Financial Services Litigation, 2024
- The Best Lawyers in America: Ones to Watch, Litigation - Antitrust, 2024 & 2025
- Awarded Pro Bono Publico Award by the Legal Aid Society in 2022 & 2023