David L. Axelrod is a former Supervisory Trial Counsel at the U.S. Securities and Exchange Commission's (SEC) Philadelphia Regional Office and a former federal prosecutor. At the SEC, he directed all aspects of litigation—leading complex, multi-agency investigations into a range of alleged securities law violations and serving as lead trial counsel in high-profile federal cases. He also led nationwide insider trading training for SEC enforcement staff.
Mr. Axelrod has directed strategy in cases involving investment fraud, accounting fraud, and market manipulation, and has tried to verdict cases involving insider trading. His first chair experience includes SEC v. Daryl M. Payton, a jury trial in which two brokers were found liable for insider trading in advance of IBM’s acquisition of a data analytics company. It was the first insider trading case tried after the Second Circuit's Newman decision heightening the "personal benefit" requirement.
Prior to joining the SEC, Mr. Axelrod was an Assistant U.S. Attorney at the U.S. Attorney’s Office, Eastern District of Pennsylvania. His focus was the investigation and prosecution of economic crimes, including securities fraud, public corruption, and tax evasion. He tried more than a dozen cases to verdict and argued before the U.S. Court of Appeals for the Third Circuit.
Hon. R. Barclay Surrick, U.S. District Court for the Eastern District of Pennsylvania, 2003-2004