Analysis Group was retained on behalf of British corporation Hanson Building Materials Limited, one of the defendants in an environmental pollution liability case brought by the city of Emeryville, CA.
Luspatercept, a novel therapy that assists with the production of red blood cells, has been clinically proven to reduce the need for transfusions among patients with myelodysplastic syndromes. However, real-world evidence corroborating these clinical findings is limited.
Paul E. Greenberg, Director of Analysis Group’s Health Care Practice, consults to pharmaceutical, biotechnology, and medical device companies in complex business litigation matters. Mr. Greenberg’s litigation experience has included performing economic and statistical analyses in support of testifying experts, as well as presenting findings to investigators from US Attorneys’ Offices and the Office of the Inspector General in numerous cases in which violations of the False Claims Act and/or the Anti-Kickback Statute have been alleged. Mr. Greenberg has provided economic consulting support in connection with class certification, liability, and damages in cases involving allegations of product failure, product fraud, antitrust, and/or patent infringement in the biopharmaceutical industry. He has provided strategic assistance to counsel at various key points in litigation, including pretrial discovery, settlement negotiations, and trial preparation. In the area of health economics and outcomes research (HEOR), Mr. Greenberg has undertaken cost-of-illness studies relating to numerous psychiatric and physical disorders, as well as pharmacoeconomic assessments of the cost-effectiveness of drugs based on data gathered in clinical trials and/or administrative claims files. Mr. Greenberg’s work in HEOR has been widely published in leading medical and health economics journals. He currently serves on the editorial boards of PharmacoEconomics, the Journal of Medical Economics, and Expert Opinion on Pharmacotherapy, and he previously served on the editorial boards of Law360’s Life Sciences and Health Care electronic newsletters.
)Ms. Mills is an expert in US and international accounting and financial reporting issues, with over 30 years’ experience in the financial services industry. As the founder and president of Accounting Policy Plus, she has a deep knowledge of accounting issues in complex transactions and a strong track record of developing, implementing, and applying new accounting policies. Ms. Mills also has an extensive record as an expert witness, and has testified and filed expert reports on issues that include hedge accounting, structured transactions, securitizations, variable-interest entities, repurchase agreements, and the valuation of a complex portfolio of derivatives.
Prior to founding Accounting Policy Plus, Ms. Mills was a managing director at Morgan Stanley, where she oversaw the financial reporting and accounting policy departments. In that role, she spearheaded major policy implementation initiatives and met regularly with senior policymakers at the US Securities and Exchange Commission (SEC), the Federal Reserve System, the US Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). Ms. Mills also advised business units on structuring trades, oversaw SEC reporting and accounting compliance, and developed comprehensive training in generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for all finance personnel. She held a similar role at Merrill Lynch, where she also implemented a Sarbanes-Oxley governance framework and designed internal control requirements. Ms. Mills is a certified public accountant (CPA).
)Professor Denis’s research examines corporate governance, corporate financial policies, corporate organizational structure, corporate valuation, and entrepreneurial finance. He has taught courses on corporate financial management, venture capital, and investment banking in M.B.A., Ph.D., and executive education programs. He has also consulted extensively to private companies, law firms, and government agencies on various aspects of financial markets and securities, including bankruptcy reorganization, payout policy, credit ratings, corporate restructuring, stock prices, corporate valuation, corporate governance, capital acquisition, executive compensation, mortgage-backed securities, and collateralized mortgage obligations. Professor Denis has published more than 50 articles in leading peer-reviewed journals, and coedited a book on corporate restructuring. He has served in editorial roles for a number of journals, including The Journal of Finance, The Review of Financial Studies, The Journal of Financial Research, the Journal of Corporate Finance, and Annals of Finance. He is a past president of the Financial Management Association International.
)Dr. Ugone specializes in the application of economic principles to complex business disputes and is experienced in economic and damages-related analyses. He has provided financial and economic consulting services in cases involving antitrust, breach of contract, class certification, intellectual property, professional negligence, and securities-related issues. Dr. Ugone has frequently evaluated lost profits and valuation-related issues using large databases and complex computer models.
Dr. Ugone has constructed or evaluated damages models that have included such components as lost sales analyses, incremental cost analyses, assessments of profitability, assessments of the capacity to produce additional units, the competitive business environment in which a damage claim is made, claimed lost business value, and claimed reasonable royalties. He has performed economic liability analyses in antitrust matters including defining relevant markets, assessing market power, and evaluating alleged anticompetitive behavior. In consumer product class action matters, Dr. Ugone has addressed economic- and damages-related issues relating to classwide proof of claimed economic harm and price premium claims, including analyses of demand drivers affecting consumer purchase decisions and product pricing patterns observed at wholesale and retail levels. With respect to patent infringement matters, he has performed lost profits-related and reasonable royalty-related analyses.
Dr. Ugone has testified at trial and in deposition approximately 600 times.
)Ms. Pinheiro has an extensive background in quantitative analysis and data science, which she has applied to various practice areas, including finance, intellectual property, biostatistics, and antitrust. In finance, she focuses on cases involving allegations of market price manipulation, misleading communications, excessive mutual fund fees, and mortgage-backed securities litigation. In particular, she has been retained by the US Department of Justice, regulatory agencies, banking institutions, and market exchanges to consult, advise, and testify on matters involving allegations of spoofing and price manipulation, as well as corresponding detection approaches. She has also applied survey analysis and statistical modeling to various intellectual property cases, including patent disputes among smartphone manufacturers, copyright tariff setting for musical works, and patent infringement in the pharmaceutical industry. She has extensive experience analyzing clinical trial, registry, and insurance claims data for both litigation and research purposes and has published manuscripts on pharmacoeconomic issues. In the antitrust field, she has acted as an expert and supported other experts in class certification and price-fixing matters involving a wide range of industries, including online search engines, computer chips, liquid-crystal display (LCD) panels, airline ticketing services, gaming, and grocery stores. Ms. Pinheiro has also authored expert reports and testified on questions relating to the modeling and calculation of royalties and damages.
Prior to joining Analysis Group, Ms. Pinheiro served as executive director of the finance group of CIRANO, where she conducted applied research projects in collaboration with private and public partners, including work on hedge funds, style analysis, credit and operational risk, and the development of integrated risk management tools for practical applications.
)Professor Stavins is a leading expert in environmental and natural resource economics. He has consulted to public, private, and governmental organizations, and has served as an expert in dozens of matters.
In his energy-related work, Professor Stavins focuses on domestic and international climate policy; design and implementation of market-based policy instruments (e.g., tradable permits); the competitive effects of regulation; assessment of environmental regulation costs; and environmental benefit valuations. His natural resource work focuses on water, agriculture, and forestry. He is actively involved in advising public officials and government agencies on environmental policy. Professor Stavins was a member of the Energy and Environmental Markets Advisory Committee at the US Commodity Futures Trading Commission, and is a former chairman of the Environmental Economics Advisory Committee of the US Environmental Protection Agency’s Science Advisory Board. He has consulted to several presidential administrations, the US Congress, the US Agency for International Development, the World Bank, the United Nations, the National Academy of Sciences, state and national governments, environmental advocacy groups, private foundations, trade associations, and corporations.
Professor Stavins has over 30 years of teaching experience and holds numerous academic positions at Harvard, including as director of graduate studies for the Ph.D. program in public policy and Ph.D. program in political economy and government, and as co-chair of the Harvard Business School/Harvard Kennedy School joint degree program. His research on environmental, natural resource, and energy economics has appeared in over 100 articles in academic journals and popular periodicals, as well as in more than a dozen books.
)Professor Desai has more than two decades of experience in tax policy, international finance, and corporate finance. His research has focused on the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. Professor Desai has consulted to companies and organizations on tax- and finance-related topics, and he has testified several times before the US Congress, including in a joint session of the Senate Finance Committee and the House Ways and Means Committee. His research has appeared in leading economics, finance, and law journals, and has been cited in media outlets such as The Economist, Businessweek, and The New York Times. His book The Wisdom of Finance was longlisted for the Financial Times and McKinsey Business Book of the Year Award. Professor Desai has also published on international tax issues such as the costs of shared ownership, with a focus on international joint ventures. He is a research associate in the National Bureau of Economic Research’s (NBER’s) Public Economics and Corporate Finance programs, and previously served as co-director of the NBER’s India program. He is also on the advisory boards of the International Tax Policy Forum and the Oxford University Centre for Business Taxation. Earlier in his career, Professor Desai was an analyst at CS First Boston.
)Mr. Gustafson applies his expertise in economics, econometrics, and modeling to litigation, complex business issues, and the analysis of public policy issues. He has worked extensively in the areas of health care, insurance, employment, data privacy, ERISA, finance, intellectual property (IP), commercial damages, and class certification.
In his litigation work, Mr. Gustafson has provided deposition, arbitration, and trial testimony related to the economics of identity theft, physician compensation, the reasonable value of medical services, retirement benefits, employment compensation, lost earning capacity, and commercial damages, and he has critiqued plaintiffs’ proposed damages formulas in several class actions. His case work has involved evaluating claims of excessive investment fees in corporate 401(k) defined contribution plans, assessing the reasonable value of medical services for physicians and hospitals, analyzing health insurance claims to identify instances of alleged fraud and inappropriate billing by hospital providers, and auditing risk-pool reconciliations that set the level of at-risk payments to a hospital group and its physician partners. He has worked on several privacy-related class actions, providing testimony related to the economics of identity theft and damages, as well as supporting privacy, damages, survey, and technical experts.
Mr. Gustafson has worked with clients to perform affirmative pay equity studies and develop methodologies to address identified disparities. He has explored economic issues associated with a wide range of insurance products, including disability, health, life, product liability, and property insurance, as well as variable annuities. Mr. Gustafson also has experience in a variety of ERISA matters, including those related to health care plans, benefits, and insurance claims. Additionally, he has extensive experience assembling and analyzing large, proprietary datasets common in pay equity, insurance, and health care engagements. Prior to joining Analysis Group, Mr. Gustafson was the business manager in Tokyo for an international nonprofit. He also taught economics as a course assistant at the Harvard Kennedy School.
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Professor Mizik is an expert in marketing strategy, valuation of intangibles, earnings management, and executive compensation in a range of industries, including health care. Her research centers on examining the consequences of marketing strategies and activities on financial performance, developing new metrics for marketing assets, and building empirical models to assess the value of intangible marketing assets. Professor Mizik has developed econometric analyses of sales, examined issues related to brand valuation, and researched evidence of real activity and accounting manipulations to artificially inflate reported earnings. She has served as an expert witness for a major pharmaceutical company in a false advertising case. Professor Mizik has published articles in a number of academic marketing and management journals. Prior to joining the Foster School, she served on the faculties of Columbia Business School and the University of North Carolina at Chapel Hill, and as a visiting professor at the MIT Sloan School of Management. She is a past member of the American Marketing Association Academic Council and has served as treasurer of the INFORMS (Institute for Operations Research and the Management Sciences) Society for Marketing Science.
)Professor Hubbard is a leading expert in public economics, corporate and institutional finance, macroeconomics, antitrust, and industrial organization. He has provided trial and deposition testimony in numerous litigation matters, including more than a dozen cases in the Delaware Chancery Court. He has also served as a testifying expert in several high-profile finance- and securities-related cases, as well as on damages issues in antitrust matters. Professor Hubbard has consulted to several government and international agencies, including the US Department of the Treasury, the US International Trade Commission, the US Securities and Exchange Commission, the World Bank, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Congressional Budget Office. From 2001 to 2003, he served as chairman of the President’s Council of Economic Advisers.
Professor Hubbard has published more than 100 scholarly articles and coauthored several books, including the widely used textbook Money, the Financial System, and the Economy. His commentaries have appeared in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, and The Washington Post, as well as on PBS television and NPR radio business programs. A frequent speaker, Professor Hubbard has presented his research at economic conferences throughout the world.
)Ms. Resch has extensive experience consulting on finance, financial economics, and accounting issues in complex litigations and arbitrations, with a particular focus on international arbitration. She is a testifying expert, specializing in the quantification of economic damages in both international arbitration and litigation. Ms. Resch has advised on valuation issues such as cost of capital and valuation discounts and premia. Her damages and valuation work has spanned disputes over complex financial instruments; oil and gas contracts; government expropriation matters; and shareholder disputes throughout the UK, Russia, Central Asia, and South America in both commercial arbitration and investment treaty arbitration. She has also consulted on state aid proceedings in the banking industry and provided damages assessments in litigation matters before the UK High Court of Justice. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.
)Throughout his more than 40-year career, Professor Longstaff has developed a deep knowledge of all aspects of financial valuation. He is known for developing the Longstaff-Schwartz model, a multi-factor short-rate model; and the Longstaff-Schwartz method for valuing American options by Monte Carlo simulation. These valuation models have been used widely on Wall Street and throughout the global financial markets. He regularly consults to financial institutions, including mutual funds, hedge funds, and commercial banks, as well as to risk management firms. Professor Longstaff has taught at UCLA since 1993, and his research includes fixed income markets and term structure theory, derivative markets and valuation theory, credit risk, computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets. Earlier in his career, he served as the head of fixed-income derivative research at Salomon Brothers, Inc., in the research department of the Chicago Board of Trade, and as a management consultant for Deloitte Haskins & Sells. Professor Longstaff has published more than 70 articles in academic journals, including The Journal of Finance, American Economic Review, and the Journal of Financial Economics. He is a certified public accountant and a CFA charterholder.
Dr. Van Audenrode is an expert in data analysis and econometrics, labor economics, antitrust and competition policy, and public economics. He has consulted to clients - including law firms and government agencies - in Canada, the US, and Europe. Dr. Van Audenrode’s work includes developing a methodology to value desktop software; he also developed expertise valuing goods as varied as restaurant franchises, executive stock options, or smartphone features. His recent work in public economics includes evaluating the economic rent from hydroelectricity to the Canadian economy and the value of logging rights on the ancestral territory of a Canadian First Nation. In the area of labor economics, his work has included filing an expert report assessing fair compensation for Quebec provincial judges and Quebec prosecutors and advising Quebec’s commission on pay equity. Dr. Van Audenrode has filed expert reports in courts in the US, Canada, Belgium, Germany, France, and the Netherlands, and has testified in Canada and the US. He recently filed a report with the Amsterdam Court of Appeal in support of the settlement reached between Ageas and claimant organizations in the Fortis case, the largest settlement ever reached through the Dutch Collective Settlement Act (WCAM). Dr. Van Audenrode’s scientific research and articles have been published in numerous peer-reviewed academic journals and trade journals. He is a coauthor of the book The Mutual Fund Industry: Competition and Investor Welfare, and is a frequent presenter at industry and academic conferences.
*Marc Van Audenrode srl
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Professor Steckel's primary research areas include marketing and branding strategy, marketing research, direct marketing, consumer response to marketing strategy, and management decision making. Professor Steckel has consulted, testified as an expert witness, and conducted modeling and analysis in numerous cases involving antitrust, damages assessment, trademarks, marketing and branding strategy, forecasting, and the statistical analyses of market response. He has analyzed industries including telecommunications, consumer products, financial services, pharmaceuticals, apparel, retail, and health care. He was the founding president of the INFORMS Society for Marketing Science, served six years as the chair of NYU Stern School's marketing department, and is currently the vice dean of the Ph.D. programs at NYU Stern.
Professor Steckel also has published numerous articles in such peer-reviewed journals as the Journal of Marketing Research, the Journal of Retailing, Marketing Science, Interfaces, and the Journal of Consumer Research.
)Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 30 years of experience applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for merger review, regulatory investigations, and large private litigations. Working with affiliate David Dranove on behalf of the US Department of Justice, she led the case team that successfully challenged the proposed merger of Anthem and Cigna. She has managed economic analyses related to antitrust issues in more than 100 matters during her career, including numerous government, competitor, and consumer matters on behalf of MasterCard over more than two decades, and on behalf of Microsoft during a similar period. Ms. Samuelson has also provided analysis of issues of class certification, liability, and damages in a broad set of technology- and financial services-related cases, and has analyzed economic issues related to government investigations and mergers involving companies in technology and health care. She has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.
A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented before a number of legal audiences and at leading academic institutions, including the American Bar Association (ABA)’s Antitrust Section Annual Spring Meeting, the New York State Bar Association (NYSBA)’s Annual Antitrust Law Section Meeting, the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management. She has also participated in numerous legal and economic conferences and seminars. In one representative example, Ms. Samuelson moderated a panel at the US Federal Trade Commission and US Department of Justice joint public workshop on most-favored nation clauses, and subsequently coauthored an article on the program in the ABA Antitrust Section Joint Conduct Committee’s newsletter. Ms. Samuelson was named as one of Global Competition Review’s Women in Antitrust 2016, and she is frequently included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. She has served as a vice chair of the ABA’s Trial Practice Committee of Antitrust Law.
In addition to her economic consulting work, Ms. Samuelson serves as CEO and Chairman of Analysis Group, one of the largest economic consulting firms in the United States. She previously served as President and CEO (beginning in 2004), and prior to that as co-CEO (beginning in 1998). Since joining Analysis Group in 1992, Ms. Samuelson has played a key role in the company’s growth and diversification and has brought significant new clients, academic affiliates, and professional staff to the firm. Under her guidance, Analysis Group has been named (by Vault) as one of the top 50 consulting firms in the US for several years running. In Massachusetts, the firm has been consistently named in the annual Top Places to Work ranking by The Boston Globe, and the Top 100 Women-Led Businesses in Massachusetts listing by the Commonwealth Institute and Boston Globe Magazine. Ms. Samuelson is also the chair of the Boston Medical Center Hospital Board of Trustees.
Professor Jena is a health economist, practicing internal medicine physician, and professor of health care policy. His work involves several areas of health economics and policy, including the economics of medical innovation, the economics of physician behavior and the physician workforce, medical malpractice, and the economics of health care productivity. Professor Jena has been retained as an expert in several pharmaceutical and health care industry matters.
A prolific author, Professor Jena is the coauthor of the book Random Acts of Medicine, and he has contributed to more than 150 peer-reviewed articles and articles intended to increase patient understanding, published in outlets including The New England Journal of Medicine and The New York Times. He is a faculty research fellow at the National Bureau of Economic Research and serves on Harvard Medical School’s Standing Committee on Health Policy. Professor Jena is a recipient of the NIH Director’s Early Independence Award to fund research on the physician determinants of health care spending, quality, and patient outcomes, and a recipient of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) New Investigator Award. In 2018, he was listed among 100 great leaders in health care by Becker’s Hospital Review.
)Dr. Heavner has consulted on a wide variety of litigation topics, including ERISA, securities, and antitrust, and he has analyzed issues related to class certification, liability, and damages. Dr. Heavner’s ERISA casework includes dozens of litigations, including at least six cases in which Analysis Group clients have prevailed at trial. He has written and presented on a variety of topics related to investments and retirement plans. His publications in this area include “Expert Analysis of Plan Losses in ERISA Class Action Litigation” (published in BNA Pension & Benefits Daily).
Dr. Heavner’s securities litigation experience includes directing the support of expert witnesses retained on behalf of mutual fund advisors in many of the largest mutual fund excessive fee actions ever filed, including four such cases that culminated in trial victories for our clients. His other finance and securities casework includes cases involving allegations of securities fraud, imprudent asset management, and investment suitability. In Florida State Board of Administration v. Alliance Capital Management, Dr. Heavner directed the support of expert witnesses retained on behalf of Alliance Capital. This case culminated in a trial in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund. The National Law Journal declared the verdict one of the top ten defense wins of the year.
Dr. Heavner’s antitrust experience includes matters involving allegations of collusion (including alleged concerted refusals to deal), anticompetitive vertical restraints of trade, predatory pricing, illegal price discrimination, mergers, and standards setting. He has earned Accredited Investment Fiduciary® designation and has been a member of the Analysis Group 401(k) Committee since 2009. He formerly taught economics and finance at Tulane University’s A.B. Freeman School of Business.
)Mr. Yackira is an expert on business strategy, and on corporate finance and development in the energy sector. He is a former executive with experience developing operating strategies for company transformation, and he has served on the boards of several public companies. Mr. Yackira was one of three independent directors as well as chair of the audit committee at 8point3 Energy Partners, a publicly traded “yieldco” formed by First Solar and SunPower. Previously, he was the CEO and CFO of NV Energy. During Mr. Yackira’s tenure, the company’s assets grew from approximately $7 billion to $12 billion over the course of 10 years, primarily from investments in electric power plants and increased company-owned generating capacity. His responsibilities included developing strategies to improve financial health and operating performance, as well as regulatory and investor relationships. Mr. Yackira also served on the board of directors at the Edison Electric Institute for seven years, including as vice chairman and chairman. Earlier in his career, he spent more than a decade with FPL Group (now NextEra Energy) in various senior-level positions, including CFO of both the parent company and its Florida Power & Light subsidiary, as well as president of FPL Energy during a strategic expansion that led it to become the largest energy company in the US.
)Professor LoSasso’s research spans several dimensions of health economics and health services research, focusing on how government policies affect private sector decisions. He has studied the impact of the State Children’s Health Insurance Program on insurance coverage among children and the extent to which public coverage “crowded out” private coverage. In addition, Professor LoSasso has examined how community rating regulations affected individual health insurance coverage. His research has also addressed the effects of health savings accounts and other high-deductible health insurance products on service use and spending. Professor LoSasso’s research has appeared in leading academic journals, including Health Affairs, The Journal of Health Economics, The Journal of Public Economics, and The Journal of Risk and Insurance. He is an associate editor at Medical Care Research and Review and serves on the editorial board of Health Services Research and Journal of Community Health. In addition to his academic research, Professor LoSasso has provided expert testimony in numerous matters pertaining to the appropriateness of FAIR Health methodology for use as health care charge benchmarks, as well as for use in workers’ compensation medical reimbursement disputes. He is a former executive director of the American Society of Health Economists (ASHEcon).
)Dr. Pearlson is an expert in cybersecurity whose research spans management information systems, business strategy, and organizational design, as well as the development of a culture of cybersecurity to support the mitigation of cyber breaches. She also has experience in information management topics such as information systems leadership responsibilities, reengineering of business process design, and reasonable information protection practices. Dr. Pearlson has testified in litigation. She has also consulted to chief executives at established companies and startups on information technology (IT) strategy, and has led IT leadership development programs. Dr. Pearlson is a founder and managing partner of KP Partners, an advisory and executive education firm for chief information officers (CIOs), chief analytics officers (CAOs), and chief information security officers (CISOs). She is also founder and executive director of the Executive Networks IT Leaders Forum, and the founding director of the Analytics Leadership Consortium at the International Institute of Analytics. Dr. Pearlson is coauthor of Managing and Using Information: A Strategic Approach and Zero Time: Providing Instant Customer Value – Every Time, All the Time! She is a frequent guest speaker and has held positions in academia and industry, including at Babson College, The University of Texas at Austin, the Gartner Research Board, CSC Index, and AT&T.
)Dr. Vigil specializes in the application of economics and finance to complex commercial litigation matters. His work includes the estimation of damages and unjust enrichment in intellectual property (IP), breach of contract, and false advertising cases; the evaluation of patented drug products’ commercial success in connection with generic manufacturers’ Abbreviated New Drug Application submissions to obtain early market entry; and the analysis of issues related to the granting of permanent injunctions, such as irreparable harm and causal nexus. Dr. Vigil has also analyzed issues related to domestic industry, remedy, and bonding on cases before the International Trade Commission.
Dr. Vigil has served as an expert witness on litigation matters in a variety of industries, including pharmaceuticals, medical devices, consumer products, telecommunications, computer hardware and software, and electronics. In non-litigation matters, he has assisted clients in valuing IP for sale or license; identifying and evaluating potential partners for licensing, acquisition, or divestiture of assets; and analyzing the impact of generic entry on prices and market shares of brand name pharmaceutical products.
Dr. Vigil is a member of the American Economic Association, the American Marketing Association, and the Licensing Executives Society, and is a frequent speaker on issues related to IP, valuation, and damages assessment. He has also taught courses in microeconomics and econometrics at the University of Maryland.
)Professor Stuart specializes in intellectual property, corporate strategy, and entrepreneurship, and has conducted analyses of firms' incentives to innovate. He has provided expert consulting services to numerous companies, and teaches M.B.A., doctoral level, and executive education courses in corporate strategy, mergers and acquisitions, technology strategy, and entrepreneurship.
Professor Stuart's academic research focuses on the formulation of firm strategies in a number of industries; the formation, governance, and consequences of strategic alliances; organizational design and new formation in established firms; and venture capital networks and the role of networks in the creation of new firms. He is a recipient of the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and of Administrative Science Quarterly's Scholarly Contribution Award for best paper.
A prolific author, Professor Stuart has published several book chapters and numerous articles in peer-reviewed journals, including Administrative Science Quarterly, Strategic Management Journal, Management Science, Research Policy and Industrial and Corporate Change. He is a past or present editorial board member of these journals, and a former associate editor of the American Journal of Sociology.
)Professor Knittel’s research focuses on industrial organization, applied econometrics, and energy and environmental economics. He has provided trial and deposition testimony in a number of litigation matters, including valuing product features in smartphones, PCs, and contact lenses. He has also consulted to Delta Airlines, Ford Motor Company, the US Energy Information Administration, and Korea Electric Power Company. Professor Knittel has authored or coauthored numerous articles on topics such as market structure and product pricing, tacit collusion, and challenges in merger simulation analysis. Examples of his research include articles on the spurious correlation between ethanol production and gasoline prices, unilateral market power in the electricity reserves market, and tacit collusion in credit card markets. His research has appeared in the American Economic Review, the American Economic Journal: Macroeconomics, the American Economic Journal: Economic Policy, The Review of Economics and Statistics, The Journal of Industrial Economics, and The Energy Journal, among other academic publications. He is a former coeditor of the Journal of Public Economics and serves or has served as an associate editor for several other scholarly journals, including the American Economic Journal: Economic Policy, The Journal of Industrial Economics, the Journal of Transport Economics and Policy, and The Journal of Energy Markets. Professor Knittel is a research associate at the National Bureau of Economic Research (NBER) in the Productivity, Innovation, and Entrepreneurship and Industrial Organization programs, and he co-directs the Environment and Energy Economics program.
)Ms. Swallow provides strategic expertise to life sciences companies and policymakers. She specializes in applying quantitative methods to real-world problems involving evaluation, decision making, strategy, and public policy in the health care and social policy sectors. She has more than 15 years of experience leading data analytics implementation, real-world evidence (RWE) generation, regulatory submissions, analytic platform design, and trial design. Ms. Swallow’s expertise includes regulatory-grade indirect treatment comparisons, survey research, database analyses, natural history studies, brand strategy, policy evaluation, RWE development, individualized medicine, and predictive analytics. Additionally, she has led health and social policy program evaluations. Ms. Swallow has worked across disease areas, including obesity, rare diseases, immunology, multiple sclerosis, hematology, oncology, and renal disease. Her work has been used to inform regulatory and reimbursement decisions in US and global markets, published in numerous peer-reviewed journals, and presented at dozens of clinical and economic research conferences.
)Mr. Hibbard is an expert on economics, strategy, regulation, and policy in the electric and natural gas industries. He has a comprehensive background merging business development, technical analysis, resource planning and development modeling, economics, and public policy in the energy and environmental fields. Mr. Hibbard has provided technical and strategic advice to government, industry, business, public interest groups, and trade organizations on energy market structure, electric and natural gas infrastructure planning and siting, utility resource solicitation and procurement, emission allocation and environmental policy, renewable resource program design and administration, transmission pricing, climate change policy, utility ratemaking practices, and the transfer of US federal and state emission control programs to other countries.
Prior to joining Analysis Group, Mr. Hibbard was chairman of the Massachusetts Department of Public Utilities. During his tenure, he carried out a forward-looking ratemaking and policy agenda to advance energy efficiency and renewable resources, coordinate regional efforts in the development of energy resources and associated infrastructure, and promote the administration of fair and efficient transmission pricing models in regional and national contexts. He also has provided testimony on resource planning, competitive electricity markets, and transmission pricing in hearings before committees of the Massachusetts legislature and the US House of Representatives, the Federal Energy Regulatory Commission (FERC), and state and regional planning councils. Mr. Hibbard has also served as a member of many energy-related boards and committees.
)Dr. Sun is an anesthesiologist and health economist with expertise in perioperative and pain medicine, population health, and public health policy. His research explores issues of health through clinical and economic lenses, and has examined topics such as the influence of drug and physician pricing on medical outcomes; physicians’ responses to payment program incentives; the economics of medical innovation, including the value of new technologies to patients and society; and methods for lowering the use of opioids in pain management. From 2019 to 2020, he served as a senior health economist on the President’s Council of Economic Advisers. Dr. Sun coauthored the book Health and Wealth Disparities in the United States, and cowrote the chapter “Do We Need the FDA? Improving the Regulation of Pharmaceutical Products” in Regulation vs. Litigation: Perspectives from Economics and Law. He has published articles in The American Journal of Managed Care, the Annals of Internal Medicine, Forum for Health Economics & Policy, Health Affairs, JAMA, JAMA Internal Medicine, the Journal of Health Economics, and The New England Journal of Medicine, among other journals. He is an associate editor of Anesthesia and Analgesia and Anesthesiology. Dr. Sun’s committee memberships have included serving on the Committee on Evidence-Based Clinical Practice Guidelines for Prescribing Opioids for Acute Pain of the National Academies of Science, Engineering, and Medicine.
)Dr. Weglein is an economist who testifies and supports testifying experts in complex antitrust and securities litigation and in international arbitrations. He has testified on behalf of several large banks (market definition, competitive effects, and damages) in an antitrust case involving municipal bond markets and testified on damages in a major arbitration in the shipping industry. He led a team of consultants working with counsel in Apple’s successful defense against antitrust claims brought by Epic Games. Dr. Weglein co-led a team working on behalf of three traders in the US v. Richard Usher, et al. criminal antitrust case in the foreign exchange market and in subsequent litigation brought by the US Treasury; he also co-led a team of consultants supporting the US Department of Justice (DOJ) in its successful efforts to block the Anthem/Cigna merger. He has worked in private litigation brought by health care providers against payers, several qui tam matters in health care markets, and various matters involving the health care provider and pharmaceutical markets. Dr. Weglein serves as Analysis Group’s representative to the advisory board of the New York International Arbitration Council. He has made presentations to The Knowledge Group, Global Competition Review, the New York State Bar Association, the Moot Alumni Association, and at the DOJ, and has coauthored numerous publications.
)Ms. Stamm specializes in the application of finance and accounting to problems in complex business litigation. She has testified on damages arising out of general commercial disputes and intellectual property matters and provided consulting expertise, including assistance with pretrial discovery, development of economic and financial models to analyze damages, critique of analyses of opposing experts, and preparation of expert reports and testimony. She has also conducted analyses relating to the valuation of financial instruments, valuation of private companies, and lost profits. In non-litigation matters, Ms. Stamm has assisted numerous businesses in varied industries with the development of business plans and financial projections, often through the use of complex integrated financial models. Ms. Stamm is a certified public accountant and a member of the Massachusetts Society of Certified Public Accountants, where she has served on the litigation support committee. She is also a frequent speaker at conferences and seminars on topics related to securities and intellectual property litigation, and has published articles on valuation and patent damages.
)Professor Lys is an expert in accounting and finance, including real estate finance, financial reporting, securities analysis, and M&A. He has testified on issues related to valuation, corporate governance, corporate finance, disclosures in M&A, fairness opinions, antitrust, GAAP compliance, taxes, and contract disputes on behalf of US and foreign government agencies and corporate clients.
Professor Lys’s research interests include risk arbitrage, labor participation in corporate decisions, auditor liability, behavioral finance, negotiations, and earnings forecasts. He has published numerous working papers and articles in refereed journals, as well as a book on negotiation that integrates the rational models of economics with the less-than-rational models of psychology. He also has edited two volumes of Karl Brunner’s work, as well as two book chapters in edited volumes. His research investigates analyst earnings forecasts and stock valuations; efficiency of analyst earnings forecasts; the ability of security analysts to learn from experience; stock price behavior following earnings announcements; properties of estimators of autocorrelation coefficients; the impact of transaction costs for market efficiency; M&A; and investors’ interpretations of corporate social responsibility initiatives.
Professor Lys was an editor of the Journal of Accounting and Economics for 11 years and also served on the editorial board of The Accounting Review. He is a recipient of the American Accounting Association’s Distinguished Contributions to Accounting Literature Award for 2022.
)Professor Levinsohn is an expert in antitrust, industrial organization, and econometrics. He has provided expert reports and testimony in several landmark antitrust and regulatory matters, including In re: TFT-LCD (Flat Panel) Antitrust Litigation, In re: Vitamins Antitrust Litigation, In re: New Motor Vehicles Canadian Export Antitrust Litigation, and the Tobacco Master Settlement Agreement proceedings. He has also consulted to numerous foreign governments and international organizations.
Professor Levinsohn conducts research in industrial organization, applied econometrics, international economics, and development economics. He has served on the editorial boards of American Economic Review, The Review of Economics and Statistics, the Journal of International Economics, and the Journal of Economic Literature. Prior to joining the Yale faculty, Professor Levinsohn was the J. Ira and Nicki Harris Family Professor of Public Policy at the Gerald R. Ford School of Public Policy at the University of Michigan.
)Professor Starks is an expert in finance, investment management practices, capital markets, and environmental, social, and governance (ESG). Her current research focuses on ESG issues, including climate finance and board diversity, as well as the links between molecular genetics and financial decisions. Professor Starks has served as an expert witness in federal courts on behalf of Wells Fargo, Merrill Lynch Asset Management, Vesta Insurance, and DuPont. Her research on finance issues has been published widely, and she is the editor of the Financial Management Association Survey and Synthesis Series of books, a former editor of The Review of Financial Studies, and a former advisory editor of Financial Analysts Journal and Financial Management. Professor Starks received the Moskowitz Prize for Outstanding Research in Sustainable Finance for “Corporate ESG Profiles and Investor Horizons.” She is a research associate at the National Bureau of Economics Research, a research member of the European Corporate Governance Institute, and a senior fellow at the Asian Bureau of Financial and Economic Research. Professor Starks has served as president of the Society of Financial Studies, the Western Finance Association, the Financial Management Association, and the American Finance Association. She has served on mutual fund boards of directors, pension fund advisory committees, the board of governors of the Investment Company Institute, the governing council of the Independent Directors Council, and advisory committees of the Norwegian Government Pension Fund.
)Professor Edwards is an expert in international economics and management, with a particular focus on Latin America. He has consulted to a number of national and international corporations, as well as to multilateral institutions such as the Inter-American Development Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United States Agency for International Development, and the World Bank, where he served as chief economist for the Latin America and Caribbean region. He has also consulted to a number of national governments, including those of Costa Rica, Guatemala, Mexico, Argentina, Chile, Colombia, New Zealand, Indonesia, Tanzania, and Nicaragua. Professor Edwards has published widely on international economics, macroeconomics, and economic development, and has written editorials on Argentina’s economic situation for The Wall Street Journal and the Financial Times. He is a research associate at the National Bureau of Economic Research, a member of the advisory board of Trans-National Research Corporation, and former chairman of the Inter-American Seminar on Economics. Professor Edwards was awarded the 2012 Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economic Association for his lifetime contributions to policymaking in Latin America and the Caribbean.
)Dr. Tierney is an expert on energy policy and economics, specializing in the electric and gas industries. She has consulted to companies, governments, nonprofits, and other organizations on energy markets, as well as economic and environmental regulation and strategy. Her expert witness and business consulting services have involved industry restructuring, market analyses, utility ratemaking and regulatory policy, clean energy regulatory policy, transmission issues, wholesale and retail market design, and resource planning and procurement. Dr. Tierney is a former assistant secretary for policy at the US Department of Energy, state cabinet officer for environmental affairs, and state public utility commissioner. She chairs the board of directors of Resources for the Future; serves on the external advisory board of the National Renewable Energy Laboratory; and is a member of the boards of directors of the World Resources Institute, the Alfred P. Sloan Foundation, the Barr Foundation, and other organizations. She has published widely, frequently speaks at industry conferences, and has lectured at many leading universities.
)Professor Macey’s research and writings focus on corporate governance, corporate finance, and banking and financial institution regulation. He has served as an expert in cases involving corporate governance and corporate control – in particular, matters involving piercing the corporate veil and breach of fiduciary duty across various industries. Professor Macey is the author or coauthor of many books, including Macey on Corporation Laws and two leading casebooks: Cases and Materials on Corporations Including Partnerships and Limited Liability Companies and Banking Law and Regulation. He has published over 100 articles in major law reviews and journals, including The Banking Law Journal and The Journal of Law and Economics, and has served on numerous journal editorial boards. Professor Macey’s op-eds have appeared in The Wall Street Journal, Forbes, the Los Angeles Times, and The National Law Journal, among other publications. His awards include a Ph.D. honoris causa from the Stockholm School of Economics. Prior to joining the Yale faculty, Professor Macey was the J. DuPratt White Professor of Law and director of the John M. Olin Program in Law and Economics at Cornell Law School, and a professor of law and business at Cornell’s Samuel Curtis Johnson Graduate School of Business. He has served as a professor of law at The University of Chicago Law School and as a visiting professor of law at Harvard Law School.
)Mr. Weinstein specializes in the application of quantitative methods to real-world problems involving decision making, strategy, risk management, and litigation in a variety of sectors. His work in the health care sector includes building algorithms for real-time suspicious order monitoring of controlled substance distribution by manufacturers and wholesalers, as well as statistical assessments of controlled substance dispensing issues at the pharmacy and prescriber levels. He has also led the creation of flexible damages models for use in litigation matters involving the False Claims Act, the Anti-Kickback Statute, intellectual property, and controlled substance regulation. He has served as an expert witness, testifying in administrative proceedings before the Drug Enforcement Administration (DEA).
Mr. Weinstein has managed the analysis of large transaction-level and claims databases. He also has broad experience supporting leading academic experts, working with cross-functional client teams, and presenting analytical results to top executives and government officials, including those at the DEA, US Attorneys’ Offices, and state attorneys general. In his work at Analysis Group, Mr. Weinstein builds on his prior experience, which includes contributing to economics research on 401(k) savings behavior, forecasting consumer demand at Zipcar, and advising foundations and government agencies on how to track and interpret data.
)Professor Sundararajan’s research focuses on how digital technologies transform business, government, and civil society. He has extensive expertise in the regulation and governance of digital platforms, antitrust policy in high-tech industries, the economics of network effects, pricing and privacy issues in platform markets, valuation of digital businesses, and artificial intelligence (AI). He has provided expert testimony about the digital economy before Congress, the European Parliament, and to various city, state, and federal government agencies, including the Federal Reserve Bank and the Federal Trade Commission (FTC). Widely published, Professor Sundararajan has presented his research in peer-reviewed journals and at conferences, earned numerous awards and grants, and given hundreds of keynote, plenary, and other talks at industry, government, and academic forums around the world. His op-eds and other articles have appeared in more than 40 media outlets, including The New York Times, The Financial Times, Harvard Business Review, Fortune, and WIRED. Professor Sundararajan is the recipient of the Axiom Business Book Award for The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. He is a member of the World Economic Forum’s Global Future Council on the New Economic Agenda. Professor Sundararajan also advises organizations ranging from large corporations and tech startups to nonprofits and municipal governments. In addition to his primary professorial appointments, Professor Sundararajan is an affiliated faculty member at many of NYU’s interdisciplinary research centers, including the Center for Data Science and the Center for Urban Science and Progress.
)Professor Pindyck is a leading industrial organization economist and testifying witness in the areas of antitrust and intellectual property. His research and writing have covered topics in microeconomics and industrial organization, the behavior of resource and commodity markets, financial markets, and econometric modeling and forecasting. His recent work in economics and finance has examined the determinants of market structure and market power, the dynamics of commodity spot and futures markets, criteria for investing in risky projects, the role of R&D, and the value of patents. He has received many academic honors, including several awards for outstanding teaching, and holds senior editorial positions with a number of publications. Professor Pindyck has consulted to dozens of public and private organizations, including the Federal Trade Commission, IBM, and AT&T, and has been deposed and/or testified in over a dozen cases in diverse industries such as food, energy, software, medical devices, and airlines. He has worked with Analysis Group on many of these cases, including the Lotus v. Borland litigation, in which Professor Pindyck used econometric modeling techniques to identify the economic value of various attributes and isolated the value of the infringing features. He also worked with Analysis Group in a major litigation matter involving price-fixing allegations, in which he examined allegations of accumulation of buying power and the resulting effects on negotiations with suppliers.
)Mr. El-Hage is an expert in corporate governance, corporate finance, and valuation, with more than 20 years of professional experience in executive management positions, focusing in the areas of private equity, equity financing, restructuring, and venture capital. He has provided consulting in several litigation matters involving governance and valuation issues and has provided expert testimony at deposition. He has also served on the boards of numerous private and public companies, ranging from start-ups to those with several billion dollars in revenues. He is currently the independent chairman of the MassMutual Premier Funds, a $10 billion+ mutual fund complex.
In addition to his experience raising capital, Mr. El-Hage has hands-on experience as the CEO and CFO of operating companies. In those capacities he oversaw corporate expansion, raised capital, and restructured debt. As a professional with two public equity firms, he evaluated investment opportunities, led a successful public offering, and undertook extensive due diligence and financial modeling, as well as completing the sale of two portfolio companies.
In 2003, Mr. El-Hage became senior associate dean for external relations at the Harvard Business School, where he was also, at various times, a professor of management practice and the Thomas Henry Carroll/Ford Foundation Adjunct Professor of Business Administration. He introduced and taught a new elective course on management and governance of active investing, in addition to courses in leadership and corporate accountability, and corporate finance. He was voted Capstone Professor six times, a rare honor, and was also awarded the prestigious Student Association Teaching Award in 2006.
)Dr. Yang is an expert in health economics and outcomes research (HEOR), with extensive experience in developing comprehensive HEOR strategies to support products throughout their entire life cycles. As part of her diverse portfolio of HEOR case work, she has developed robust launch strategies; generated real-world data (RWD); and created clinical, economic, and humanistic evidence to support product value propositions. Notably, Dr. Yang has led case teams in preparing submissions to health technology assessment (HTA) agencies across the world, including those in the UK, France, Germany, Norway, Australia, Canada, and Japan. She has also conducted numerous studies across various therapeutic areas – such as autoimmune diseases, infectious diseases, diabetes, blood disorders, oncology, women’s health, and rare diseases – and worked across diverse treatment paradigms, including one-time interventions involving cell and gene therapies, as well as recurrent treatment regimens. Dr. Yang’s work has been widely published in peer-reviewed journals and featured at health care conferences.
)Professor Madnick specializes in database technology, connectivity among disparate distributed information systems, software project management, and the strategic use of information technology (IT). He is an experienced expert witness and has provided testimony in numerous litigation matters, including multiple cases involving Microsoft. Professor Madnick has also consulted to several major corporations, including IBM, AT&T, and Citicorp. He is co-head of the Total Data Quality Management (TDQM) Program and founding director of MIT’s Interdisciplinary Consortium for Improving Critical Infrastructure Cybersecurity, also known as (IC)3. Professor Madnick was the principal investigator of a large-scale research effort funded by the US government’s Defense Advanced Research Projects Agency (DARPA) on context interchange, which involved the development of technology that helps organizations work more cooperatively and collaboratively. His industry work includes contributions to projects such as IBM’s VM/370 operating system and Lockheed Martin’s DIALOG information retrieval system. He has also founded or co-founded several high-tech firms, including Intercomp, acquired by Logicon; Mitrol, acquired by General Electric; the Cambridge Institute for Information Systems, subsequently renamed Cambridge Technology Group; and iAggregate, acquired by ArsDigita, which was subsequently acquired by Red Hat. Professor Madnick has authored or coauthored over 400 books, articles, and technical reports.
)Dr. Sutcliffe's expertise is in the areas of strategic management and organization theory. Her research has been aimed at understanding how organizations and their members cope with uncertainty and unexpected events, and how complex organizations can be designed to be more reliable and resilient. Dr. Sutcliffe is a coauthor of Managing the Unexpected: Resilient Performance in an Age of Uncertainty (2007) and Medical Error: What Do We Know? What Do We Do? (2002). She has published her research on high-reliability organizations, organizational resilience, and safety culture in numerous management and health care journals, and she has presented her findings nationally and internationally. Dr. Sutcliffe has also consulted with private multinational companies in a variety of industries, and with nongovernmental organizations and government agencies. She was recently appointed by The National Academies to a research panel on workforce resilience that will study and provide recommendations to the US Department of Homeland Security. She has received multiple grants, including a 2010 award from the Robert Wood Johnson Foundation to conduct a study of the medicalization of patient safety. Dr. Sutcliffe has served on the editorial boards of several academic journals, including Organization Science, Academy of Management Journal, Organization Studies, and the International Public Management Journal.
)Dr. White specializes in health care, transfer pricing and valuation, and general commercial litigation. He combines his expertise in applied microeconomics, statistics, and econometrics with nearly 25 years of experience with client engagements. A diverse range of clients have retained Dr. White to assist in all stages of the litigation cycle – including advising on discovery issues, expert report preparation, and preparation for deposition and trial. He has worked on general commercial litigation matters such as allegations of false advertising and breach of contract, investigations into alleged off-label promotion of prescription drugs, and the economic impact of generic drug entry/substitution. Additionally, he has also analyzed economic issues relevant to class certification and quantification of damages.
Dr. White has managed numerous commercial litigation matters, supporting academic and industry specialists with expertise in industrial organization, statistics, health economics, and marketing. His tax and transfer pricing work has evaluated the arm’s length nature of pricing in intercompany transactions, and the estimation of useful economic lives for various tangible and intangible assets. In addition to his litigation work, Dr. White’s health economics engagements have included the development of empirical models for evaluating factors to help identify patients at risk of prescription opioid abuse, as well as the estimation of societal economic costs of prescription opioid abuse.
An active researcher, Dr. White’s publications have focused on specific health economics issues, such as the economics of prescription opioid abuse and the evaluation of the impact of biosimilar approval on the litigation landscape. He has presented and participated in a number of industry conferences. Dr. White is an adjunct faculty member in the Department of Economics at Northeastern University, where he teaches courses on applied microeconomics and applied econometrics.
)Professor Sussman focuses his research in the areas of real estate investment and finance, financial statement analysis and valuation, and corporate financial reporting. He has consulted to large and small firms nationally and globally, and is a frequent lecturer on a variety of financial, accounting, and corporate reporting topics. Professor Sussman has served as an expert witness and consultant in commercial litigation involving matters of real estate due diligence and related practices, corporate financial reporting and disclosure, audit effectiveness, valuation, and overall damage analyses. He is a founding partner of Clear Capital, where he oversees the firm’s capital, equity, and debt departments and strategic planning functions, and provides leadership to the firm in the areas of private equity, joint ventures, and fund formations. Professor Sussman is also president of Amber Capital; manager of Fountain Management; and managing partner of the Pacific Value Opportunities Fund and Clear Opportunity Fund, which have acquired, rehabilitated, developed, and managed over 2 million square feet of residential and commercial real estate. He also serves as the audit committee chairman of the board of trustees of Causeway Capital’s group of funds, which collectively have more than $15 billion in assets. Professor Sussman is a licensed certified public accountant in the State of California.
)Professor Reibstein’s research focuses on competitive marketing strategies, metrics, and product line decisions, among other topics. He has provided marketing management education and consulting research to companies in the consumer goods, pharmaceutical, and oil and gas industries, among others. His consulting activities have included numerous applications of conjoint analysis and other survey techniques in engagements spanning a wide range of products. Professor Reibstein has submitted expert reports and provided testimony on marketing and marketing research in several litigation matters, including analyses of smartphone features in a patent dispute, health claims in a false advertising dispute, and pharmaceutical detailing in a co-marketing dispute.
His recent work includes assessing strategies to address competitors’ reactions to marketing actions and developing metrics that link marketing decisions to financial consequences, which was published in his book, Marketing Metrics: The Definitive Guide to Measuring Marketing Performance. Professor Reibstein is also the author or coauthor of numerous books and chapters in books on subjects including competitive marketing strategy, global branding, and marketing performance measurement. Professor Reibstein has also written several papers on conjoint analysis and its validity and reliability. His research has been published in leading academic journals, including Marketing Science, the Journal of Marketing Research, and the International Journal of Research in Marketing.
Professor Reibstein has been honored with more than 30 teaching and publishing awards, including the John S. Day Distinguished Alumni Academic Service Award from Purdue University’s Krannert School of Management. He has served as the chairman of the American Marketing Association board of directors and as the executive director of the Marketing Science Institute.
)Mr. Hutchings’ economics expertise spans a wide array of topics, including tax and transfer pricing, securities and finance, valuation and damages, and antitrust. Deeply experienced in litigation, international arbitration, and investigations, he has led case teams, conducted economic and financial analyses, estimated damages and liability, and performed valuation analyses in complex matters across many jurisdictions, including the US, Canada, the UK, the EU, Latin America, and Australia.
In tax controversy and transfer pricing matters, he has assisted expert witnesses and attorneys for both taxpayers and taxing authorities in jurisdictions around the world. Mr. Hutchings has analyzed intercompany financings for both debt/equity characterization and debt pricing questions, valued closely held corporations, studied issues of cost allocations between related parties, and assessed arm’s-length pricing in a variety of contexts. For example, he has worked with financial institutions on allocating losses amongst subsidiaries, studied the sources of value for consumer packaged goods, priced related party transactions for pharmaceutical products, and worked with medical device manufacturers on transfer pricing between related parties. Mr. Hutchings has provided expert reports on tax dispute and transfer pricing issues for both planning and litigation. He has also applied transfer pricing principles in non-tax disputes such as assessing fairness in corporate transactions between related parties.
In antitrust and competition matters, Mr. Hutchings has analyzed anticompetitive effects, evaluated potential remedies, examined the economics of platform markets, and assisted in the preparation of analysis and testimony before courts and government regulators, such as the US Federal Trade Commission (FTC).
In addition, he has quantified harms and foregone benefits, and valued natural resources and treaty entitlements, in several disputes between Canadian First Nations and the Crown, both testifying at trial and consulting to reach pre-dispute resolutions. He has also quantified damages arising from tortious interference, breach of contract, and other contractual and extra-contractual remedies, and provided valuation analyses in numerous commercial disputes.
)Ms. Wood is an expert in institutional investing, global corporate governance, equity and bond portfolio management, financial analysis, and securities analysis, with over 35 years of experience in the asset management industry. She also has expertise in investment management and asset allocation of pension funds, mutual funds, insurance companies, endowments, and foundations. She has served as an expert witness in litigation involving asset allocation, investment policy, investment manager due diligence, public pension plans, corporate governance, securities analysis, and portfolio management.
Ms. Wood led the $150 billion equity, hedge fund, and activist portfolios for the California Public Employees’ Retirement System (CalPERS), the largest public pension plan in the US. She also managed the CalPERS corporate governance program and Focus List engagements, including its environmental, social, and governance (ESG) strategies. Ms. Wood’s other ESG activities include serving as board chair of the Global Reporting Initiative, tasked with setting global sustainability disclosure standards for over 5,000 companies worldwide. She is a former CEO of Capital Z Asset Management, one of the largest independent sponsors of hedge funds, where she was responsible for minority equity ownership in 11 hedge funds across $7 billion in equity, fixed income, and commodity strategies.
Ms. Wood serves on numerous boards of directors, having chaired the audit, corporate governance, and investment committees of the boards of several financial institutions. Previously, she was a member of the Financial Accounting Standards Board (FASB) Investor Advisory Group, the Public Company Accounting Oversight Board (PCAOB) Standing Advisory Group, and the International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group. She is a frequent speaker on topics that include sustainability reporting, corporate governance, ESG disclosure, best practices of boards of directors, global alpha generation, and hedge funds. Ms. Wood was a 2018 Harvard University Advanced Leadership Fellow.
)Professor Fader is a marketing expert who analyzes behavioral data to understand and forecast customer shopping and purchasing activities, determine customer lifetime value, and assess customer relationship management activities. His research highlights the consistency of customer behavior patterns across industries, as well as methods for leveraging this information to create more effective marketing strategies. He has provided expert testimony in litigation, and he has consulted to firms in a range of industries, including consumer packaged goods, interactive media, financial services, retailing, and pharmaceuticals. Professor Fader has published numerous journal articles and book chapters on a variety of marketing and applied statistics topics. He is the author of Customer Centricity: Focus on the Right Customers for Strategic Advantage (2020) as well as coauthor of The Customer Centricity Playbook: Implement a Winning Strategy Driven by Customer Lifetime Value (2018). He has been on the editorial boards of several journals, including Marketing Science, the Journal of Marketing Research, and the International Journal of Research in Marketing. In addition to his academic career, Professor Fader has brought his customer-oriented expertise to the marketplace in his capacity as co-founder of the predictive analytics firm Zodiac and the customer-based corporate valuation firm Theta.
)A specialist in finance and securities, Dr. Wong has managed teams supporting academic and industry affiliates in litigation matters involving securities fraud, damages, bankruptcy, suitability analysis, portfolio management, mortgage lending practices, accounting analysis, market manipulation, and financial statement analysis. He has extensive experience analyzing fixed-income instruments, structured finance instruments, and credit derivatives. Dr. Wong has worked on and provided testimony in government regulatory investigations. His recent engagements include work in legal disputes related to structured finance instruments, including residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs); securities lending; mutual funds and other commingled investment pools; corporate governance; and investment suitability claims. He has also worked on valuation, class certification, and intellectual property matters.
Dr. Wong joined Analysis Group from Chicago Partners in 2006, and has played an instrumental role in the development and growth of the firm’s Chicago practice. He is a member of the American Finance Association and has published research on bankruptcy and the financing of new firms.
)Ms. Arcelus specializes in analyses of complex problems in business litigation from technology, economic, and financial perspectives. Her litigation experience includes all aspects of diverse litigation matters. Ms. Arcelus frequently works with an extensive network of experts from leading universities, as well as distinguished industry experts, to apply innovative and established techniques to her engagements.
In more than three decades at Analysis Group, she has managed high-profile litigation projects across a variety of areas, including antitrust and competition, intellectual property, data protection and privacy, technology, cybersecurity, biometric data, algorithm use, regulatory compliance, impact of misleading information technology, and contract disputes. Her work often involves leading companies in technology-intensive industries such as digital platforms, biotech, engineer systems, computer hardware, and software. Ms. Arcelus has worked on cases in the US, Canada, Latin America, and Europe.
Ms. Arcelus has also worked on securities class action cases involving institutional responsibility and investor knowledge; energy litigation projects involving contract and price disputes; labor litigation involving no-poach agreements; and health care consulting projects involving the statistical modeling of clinical outcomes, pharmacoeconomic analyses, and strategic financial analyses.
)Professor Tadelis is an expert on e-commerce and the economics of the internet, industrial organization, and microeconomics, including game theory and auction theory. His work on e-commerce investigates online auctions and online bargaining, digital advertising, seller reputation and the determinants of trust, price salience, and algorithmic pricing. Professor Tadelis has also researched contract theory and design, with applications to outsourcing, privatization, strategic pricing, public and private sector procurement and award mechanisms, and strategic sourcing and pricing. He has been engaged by regulatory authorities and tech companies in a variety of investigations and litigation matters in both the US and Canada on topics such as consumer protection, pricing, and online advertising and has testified at deposition.
Professor Tadelis has a decade of experience working with online marketplaces and retailers. He served as a senior director and distinguished economist at eBay Research Labs, where he hired and led a team of economists focused on the economics of e-commerce, with particular attention to creating better matches of buyers and sellers; reducing market frictions by increasing trust and safety in eBay’s marketplace; understanding the underlying value of different advertising and marketing strategies; and exploring the market benefits of different pricing structures. He also served as vice president of economics and market design at Amazon, where he guided and supported economic analyses for business decisions across the company.
Professor Tadelis participated in the Federal Trade Commission’s 2018 hearings on “Competition and Consumer Protection in the 21st Century.” He testified on two panels: “Multi-Sided Platforms in Action” and “Nascent Competition: Is the Current Analytical Framework Sufficient?”
Professor Tadelis is the author of books on game theory and microeconomic theory, as well as a handbook chapter on two-sided e-commerce marketplaces and the future of retailing. He has published articles in and served on the editorial boards of leading economics, marketing, and management journals. He is a research associate at the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research.
)Professor Riddiough is best known for his work on real options, mortgage pricing and strategy, REITs, and land use regulation. He has served as an expert in numerous real estate-related matters, in which he has testified on appraisal and the value of distressed mortgages. Professor Riddiough has consulted to numerous organizations, including the US Department of Housing and Urban Development, GMAC, Wells Fargo, Coldwell Banker Commercial, The Equitable Life Assurance Society, and the State of Wisconsin Investment Board. He has published more than 40 scholarly articles. He has served on the boards of directors of several organizations, including ArCap REIT, EquiBase Capital Partners, and the American Real Estate and Urban Economics Association. Professor Riddiough is the recipient of best dissertation and best paper awards in real estate economics, and is a fellow at the Real Estate Research Institute and a past fellow at the Homer Hoyt Institute. He teaches courses in real estate finance, real estate capital markets, and microeconomics.
)Dr. Chakraborty is an economist with an extensive background in economics, finance, accounting, and valuation. She has been retained both as an expert witness and as a consultant in a number of matters involving equity and fixed income securities, valuation, solvency, fraudulent conveyance, and economic damages. Dr. Chakraborty has conducted analyses in matters involving bankruptcy, mergers and acquisitions (M&A), tax and transfer pricing, international arbitrations, fraud, and theft of trade secrets and misappropriation. Her work has involved the development of financial and economic models, the evaluation of large datasets, and the application of statistical methods to a variety of complex problems. She has worked on matters involving companies in many industries, including financial services, energy, retail, and pharmaceuticals.
)Mr. FitzPatrick is a wealth management and fiduciary expert with extensive experience serving high-net-worth individuals, families, and related charitable entities. In his role at Northway Wealth Advisors, he provides guidance to trustees of personal trusts and executors of estates, and mediation and expert witness services in support of fiduciary-related dispute resolution. Mr. FitzPatrick has been recognized as a court-qualified expert in wealth management matters and has served as a testifying expert in multiple trust and estate cases. He is a columnist and author of articles published in The International Family Offices Journal and Trusts & Estates magazine. Prior to founding Northway, he held senior executive roles with Dominion Fiduciary Services, Webster Bank, BNY Mellon, J.P. Morgan, Citigroup, and Goldman Sachs, among others. Notably, he led J.P. Morgan Private Bank’s global trust and estate administration business, which managed accounts valued at more than $21 billion. Subsequently, Mr. FitzPatrick served as managing director and head of trust for Goldman Sachs, where he chartered and built both The Goldman Sachs Trust Company, N.A., and The Goldman Sachs Trust Company of Delaware, and grew combined assets under fiduciary supervision from zero to $2 billion in under four years. He then ran Citigroup’s global personal trust business, managing more than $50 billion in fiduciary accounts. He is a member of several nonprofit boards and committees and has held numerous leadership positions with industry associations and on professional and corporate boards. Mr. FitzPatrick is a registered Trust and Estate Practitioner (TEP) and a Master Certified Independent Trustee.
)Mr. Jarosz is an economist and director of Analysis Group’s Washington, DC office. He specializes in matters involving intellectual property (IP), commercial damages, licensing, and antitrust. His IP work focuses on evaluating lost profits, reasonable royalties, price erosion, commercial success, licensing terms, best efforts, irreparable harm, and FRAND commitments. Mr. Jarosz has significant expertise testifying in patent, trademark, copyright, and trade secret tort and contract matters. He is also experienced in both US and international arbitration, often serving as an expert witness in matters involving IP rights.
A frequent author and lecturer on the economics of IP protection, Mr. Jarosz has participated in and given presentations at various meetings of the Sedona Conference, Intellectual Property Owners Association, Licensing Executives Society, and the Association of University Technology Managers. He has published a variety of papers in professional and practitioner journals, and he has taught classes at Georgetown University Law Center, George Washington University Law School, the University of Pennsylvania Law School and Department of Economics, Columbia Business School, and the US Patent and Trademark Office. Mr. Jarosz has been recognized for many years as among the top economic experts for IP matters by Intellectual Asset Management (IAM) in the IAM Patent 1000, which identifies leading patent professionals around the globe.
)Professor Wright is an expert in accounting, public policy, and resource allocation related to petroleum. She focuses her work on international petroleum contracts, upstream oil and gas accounting, and financial reporting, as well as on the disclosure and valuation of oil and gas reserves. Her research has examined accounting issues for environmental costs and asset retirement obligations, petroleum economics and decision analysis, joint interest accounting, and the evaluation of oil and gas financial statements. Over the past two decades, Professor Wright’s expertise in petroleum economics and valuation has been called on in support of numerous litigation matters. In these engagements, she has served as a witness, filed expert reports, and provided testimony at deposition and trial. Professor Wright has authored dozens of research publications and is the coauthor of two textbooks, Fundamentals of Oil & Gas Accounting and International Petroleum Accounting. She has served on the editorial review boards of several publications, including Petroleum Accounting and Financial Management Journal and Oil, Gas & Energy Quarterly, and was a member of the International Accounting Standards Board’s extractive industries advisory committee. Professor Wright is a certified public accountant in Oklahoma.
)Professor Melvin has lengthy academic and business experience in international finance – including foreign exchange market microstructure – and multi-asset investment strategies. His current research focuses on currency carry trades, currency transaction costs, and exchange rate models. Professor Melvin has published widely on topics that include exchange rates, currency investing, and international equity markets. Previous faculty appointments have included Arizona State University’s W.P. Carey School of Business; the Haas School of Business at the University of California, Berkeley; the University of California, Los Angeles; and Northwestern University.
In addition to his academic achievements, Professor Melvin has deep in-house experience in the finance industry. Before joining the Rady School, he was managing director and senior research advisor in multi-asset strategies at BlackRock. He also served as the head of currency and fixed-income research in the Global Market Strategies Group at BlackRock and Barclays Global Investors. Professor Melvin is former coeditor of the Journal of International Money and Finance, and he has been a visiting scholar at the Federal Reserve Board, the International Monetary Fund, and the Bank for International Settlements.
)Dr. Wu is a health economist with expertise in health economics and outcomes research (HEOR), market access, and scientific evidence strategy. He has conducted research in more than 30 countries on behalf of pharmaceutical and medical device companies, payers, providers, and government agencies. Dr. Wu has contributed to over 200 publications across dozens of therapeutic areas, including regenerative therapies (gene and stem cell), rare and ultra-rare diseases, biologics, and immuno-oncology.
Dr. Wu spends a significant portion of his practice developing new scientific methods to address challenges in health care research. He has developed client-focused solutions based on the use of artificial intelligence (AI), medical big data, real-world evidence, and innovative comparative-effectiveness research methodologies.
)Professor Thurman is an expert in agricultural markets and regulation. He has consulted on a wide variety of topics related to agriculture, including competition in agricultural markets, international trade in agricultural commodities, the behavior of agricultural futures markets, the proper use of econometric methods, damages assessments, the role of agricultural cooperatives, and the estimation of cost pass-through to indirect purchasers. As an expert witness, Professor Thurman has testified at deposition and in federal and state court proceedings. He has published widely on agricultural and natural resource subjects, including grower compensation in the poultry industry, food safety regulation in the egg industry, the effects of supply control programs for peanuts and tobacco, honeybee pollination markets and colony collapse disorder, the performance of lumber futures markets, and the costs of the Clean Water and Clean Air Acts. At North Carolina State University, Professor Thurman taught graduate and undergraduate courses in econometrics, microeconomics, and agricultural markets. He is the recipient of numerous research and teaching awards and fellowships, including the Agricultural & Applied Economics Association’s (AAEA’s) Publication of Enduring Quality and Outstanding Graduate Instructor Awards. Professor Thurman is a past editor of the American Journal of Agricultural Economics, an elected fellow of the AAEA, and a senior fellow of the Property and Environment Research Center in Bozeman, Montana.
)Professor Schoar is an expert in corporate finance, entrepreneurship, and organizational economics. Her research examines returns and capital flows in the venture capital industry, the financing of small- and medium-sized enterprises and startup firms in emerging markets, and the impact of corporate governance practices on firm performance. Professor Schoar has served as an expert witness in cases involving commercial litigation and financial services. She is co-chair of the Corporate Finance Program at the National Bureau of Economic Research and co-founder and scientific director of ideas42, a research lab on behavioral social science. She has published numerous articles and papers and received several awards for her research, including the Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship, and the Brattle Group Prize in Corporate Finance for her paper “The Effects of Corporate Diversification on Productivity.” She is the executive editor of The Journal of Finance and previously served as an associate editor of the American Economic Journal: Applied Economics, the Journal of Economic Perspectives, and the Journal of Financial Intermediation. Professor Schoar’s work has been featured in The Economist, the Financial Times, The New York Times, and The Wall Street Journal.
)Mr. Yeater specializes in applying financial and economic analyses to complex business litigation and regulatory matters involving antitrust concerns, intellectual property claims, and other commercial disputes. Mr. Yeater serves as an expert witness and consults to clients in non-testifying roles. In more than 20 years as an economic consultant, he has led large, high-profile engagements supporting multiple experts in a variety of industries, including digital and traditional media, sports and entertainment, retail consumer goods, high-tech consumer products, pharmaceuticals, chemicals, agriculture, education, and financial services.
Mr. Yeater applies his expertise to analyze competition and substitution patterns, define relevant markets, and evaluate potential competitive effects and counterfactual outcomes in merger and competition investigations and antitrust litigation. He has served as a testifying economist concerning the analysis of merger efficiencies and procompetitive effects of conduct. Mr. Yeater has also evaluated competition, pricing, output and efficiencies, and procompetitive benefits in connection with merger and behavioral investigations in the US, Australia, Korea, the UK, and the EU. He has supported merging parties and the Federal Trade Commission (FTC) in a variety of merger investigations. In other litigation matters, Mr. Yeater has applied his expertise in financial and economic concepts to the analysis of damages, and has provided assistance throughout all phases of pretrial and trial practice.
Mr. Yeater serves as a vice chair to the American Bar Association (ABA) Antitrust Law Section’s Podcasting Committee, producing and hosting episodes of the committee’s Our Curious Amalgam podcast. Previously, he was a vice chair of the Food and Agriculture Committee. He publishes and presents regularly on topics relevant to his expertise, including the economic analysis of competition, the calculation of damages in antitrust and other cases, and class certification.
)Mr. Jetley specializes in mergers and acquisitions (M&A), valuation of derivative instruments, securities valuation, corporate finance, and risk management. He has worked on several transaction-related matters that involved the analysis of target valuations, sales processes, disclosures made by bidders and targets, and other deal terms. His securities valuation experience includes analyzing the impact of selected disclosures on the stock price of large corporations across a variety of industries, including technology, electric utilities, office equipment, biotechnology, real estate investment trusts (REITs), and health care providers. Mr. Jetley has also worked on several matters involving the valuation of equity, fixed-income, foreign exchange, and mortgage-backed derivative securities. He frequently publishes and presents on topics involving M&A, securities, financial analysis, and commercial damages.
)Professor Meyer specializes in software engineering and the construction of complex reliable systems. His research interests run from the technical (such as software verification, programming languages, and concurrent programming) to the managerial (including large project organizations, agile methods, quality assurance, and troubled-project rescue). Professor Meyer has served as an expert witness in technology-related cases before the US International Trade Commission (ITC), the European Commission (EC), and the International Chamber of Commerce. These include a patent litigation case between Nokia and Apple before the ITC, and a Microsoft antitrust case before the EC. He has consulted to companies in the US, Japan, and Europe. A pioneer of object technology – a now-dominant approach to software design and programming – Professor Meyer designed the Eiffel programming language and established the “design by contract” (DbC) programming concept. Professor Meyer has published over 300 articles and 12 books, many widely translated, on software issues and techniques. His awards include the IEEE Computer Society’s Harlan D. Mills Award and the Association for Computing Machinery (ACM) Software System Award; he is a member of Academia Europaea, and a fellow of the International Federation for Information Processing (IFIP) as well as the ACM. After co-founding Eiffel Software, he was a professor of software engineering and chairman of the Department of Computer Science at ETH Zürich. In addition to his current role at the Schaffhausen Institute of Technology in Switzerland, Professor Meyer holds associated positions with Politecnico di Milano, the University of Toulouse, and Russia’s Innopolis University. He speaks English, French, Russian, German, and Italian.
)Dr. Chawla has more than 25 years of experience as an economist in the health care sector. Since joining Analysis Group in 2007, she has helped global biopharmaceutical, diagnostic, and medical device manufacturers - as well as development-stage companies - address product development and commercialization objectives, particularly as they relate to market access. Her work has spanned a wide range of therapeutic areas, including multiple indications in oncology. Her recent client work includes landscape assessments, economic modeling, and strategic plans to inform evidence generation in the context of product development and market access launch strategy; forecasts to help prioritize research and support licensing and venture funding discussions; payer research and advisory boards; and launch materials that communicate a product's clinical and economic value to support evidence-based reviews. Dr. Chawla recently led an engagement comprising a fully integrated market access strategy and related tactics to support the launch of a novel drug to treat an orphan disease.
Dr. Chawla's recent publications include an assessment of the impact of regulatory requirements for cardiovascular risk evaluation for diabetes therapies. She has served as a reviewer or referee for several journals, including Value in Health, Health Affairs, Health Services Research, Journal of the American Medical Association, and Journal of Business and Economic Statistics. Prior to joining Analysis Group, she was head of the health economics and outcomes research department at Genentech, Inc., where she also supported the oncology franchise.
)Professor Toubia has marketing expertise in the areas of innovation and new product development, with a specific emphasis on market research, behavioral economics, preference measurement, and customer choice models. He focuses his research primarily on studying how firms can optimize their interactions with customers. For example, he has used polyhedral adaptive choice-based conjoint analysis to develop marketing strategy and assessed the comparative value of promotional efforts launched through online social communities versus traditional direct-mail campaigns. Professor Toubia has conducted numerous surveys for litigation – including conjoint studies – involving smartphones, set-top boxes, consumer packaged goods, medical equipment, and perceptions of employment status. He has also been deposed and testified at an arbitration matter.
Professor Toubia worked with Applied Marketing Science on the development of IDEALYST®, an online idea generation and group brainstorming tool that has been used by numerous corporations to enhance output and creativity through the use of incentives. His research has been honored with three John D.C. Little Best Paper Awards and published in a variety of marketing outlets. Among other journal affiliations, Professor Toubia is coeditor of Quantitative Marketing and Economics, associate editor of Management Science and Marketing Science, and a member of the editorial boards of International Journal of Research in Marketing and Journal of Marketing Research.
)Professor Wruck's research and teaching are in the fields of financial and organizational economics, with special emphasis on corporate finance, restructuring, financial distress, governance, and management compensation. She has served as an academic director of the Financial Management Association and the Turnaround Management Association, consulted to major corporations, and has worked on a number of high-profile corporate litigation projects as a subject matter expert. Professor Wruck has published numerous articles in leading academic journals, and her work and opinions have been highlighted in several business periodicals. In addition to refereeing for several industry journals, she serves as an advisory editor for the Social Sciences Research Network (SSRN) and the Organizations and Markets Electronic Journal. She is also a former associate editor of the Journal of Financial Economics, the Journal of Corporate Finance, The Journal of Financial Research, and European Financial Management. Professor Wruck’s honors include Ohio State's Mary Ann Williams Award, which recognizes a woman exhibiting extraordinary leadership, and Fisher's Bostick-Georges Pacesetter Service Award, which recognizes exceptional leadership and service to the College of Business. In addition, she has on multiple occasions been selected as outstanding professor by Ohio State's full-time and executive M.B.A. programs. Prior to her appointment at Ohio State, Professor Wruck served on the faculty of the Harvard Business School.
)Professor Snyder is an industrial organization economist whose research focuses on antitrust policy and enforcement, contracting practices, financial institutions, and law and economics. He has consulted on and served as a testifying expert in numerous high-profile cases, opining on liability, damages, proposed mergers, price-fixing allegations, Hatch-Waxman claims involving pharmaceuticals, monopolization claims, and proposed class certifications of both direct and indirect purchasers. In addition, Professor Snyder has testified before combined US Federal Trade Commission (FTC) and US Department of Justice (DOJ) hearings on competition and intellectual property, and has presented separately before the DOJ’s Antitrust Division, where he worked as an economist earlier in his career, and the FTC. He has been a signatory to amicus briefs submitted to the Supreme Court on various price-fixing and Sherman Act issues.
Professor Snyder has written extensively on topics related to antitrust and policy issues, with his articles appearing in prestigious publications such as The Journal of Law and Economics, the Journal of Comparative Economics, The Antitrust Bulletin, and Contemporary Policy Issues. His work has also been featured in major media outlets, including the Financial Times, The Wall Street Journal, and The New York Times.
Professor Snyder also served as the dean of the Yale School of Management from 2011 to 2019, during which time he enhanced the school’s academic programs and financial standing, and established new master’s programs in the areas of management, entrepreneurship, and executive education. He also founded the Global Network for Advanced Management at Yale University, an international consortium of schools devoted to teaching tomorrow’s business leaders around the world. Prior to joining Yale, Professor Snyder was the dean of the business schools of The University of Chicago, the University of Virginia, and the University of Michigan.
)Mr. Ji specializes in the application of economics and finance to litigation matters in the areas of mergers and acquisitions (M&A), valuation, financial instruments, and tax. He has significant experience supporting academic and industry experts, as well as providing consulting assistance to clients. Mr. Ji has examined all aspects of M&A, including bid premiums, public and private benefits of control, deal terms, sales mechanisms, negotiation processes, shareholder activism, merger arbitrage, advisor fees, material adverse event (MAE) and material adverse change (MAC) provisions, and consequences of breaching non-disclosure or standstill agreements. His valuation experience includes analyzing real estate, telecommunications, energy, public transportation, medical devices, and banking and brokerage companies and assets. In the bankruptcy area, he applies his valuation skills to solvency and fraudulent conveyance analyses. Mr. Ji has managed case teams in matters involving various types of financial instruments and markets, including foreign currencies, auction-rate securities, precious metals, and fixed-income derivatives. In securities litigation matters, he has assisted counsel and experts throughout all stages, including class certification, merit, mediation, and settlement negotiation, and has addressed issues such as price impact, loss causation, damages methodology, materiality, and falsity. He has also assessed the economic substance and structure of various complex tax shelter transactions. Mr. Ji’s research papers have been published in the Financial Analysts Journal and The Business Lawyer.
)Professor Fox’s research focuses on retail pricing, promotion, and assortment management, as well as the quantitative modeling of consumer shopping behavior to address retail competition and marketing channel issues. He frequently estimates models using customer-level data to identify the drivers of shopping behavior and to make shopping and spending predictions, which can then be used by retail decision makers to improve store performance. Professor Fox has consulted to retailers and other companies on marketing management, strategy, and quantitative decision making. His clients have included ACME Markets, Genuardi’s Family Markets, Softspikes, Arcis Golf, and Reliant Rehabilitation. He has also filed an expert report on behalf of the Federal Trade Commission in a retail antitrust case. Professor Fox’s research has addressed topics such as dynamic pricing, demand estimation using transaction data, competitive issues in retailing, consumer spending behavior across retail formats, and recapturing lost customers. His articles have been published in journals such as Marketing Science, the Journal of Marketing Research, the Journal of Marketing, Management Science, Operations Research, and the Journal of Retailing. He is frequently quoted in the media on retail marketing and consumer buying behavior, and he has spoken at numerous retail industry conferences and trade association meetings.
)Professor Anderson conducts research on the design of cost accounting systems and on how firms use management control practices to mitigate risk and facilitate collaboration in inter-firm transactions. This research includes performance measurement, incentive contracting, supply chain contracting, and operations management. Professor Anderson uses empirical analysis of firm-level accounting and operational data to test economic theories about firm performance. She also has experience designing and administering surveys and analyzing survey data. Her published work has employed data from many industries including automotive, electronics manufacture, office furniture manufacture, commercial airlines, consumer retail, coal extraction, transportation, and warehousing and distribution.
Professor Anderson co-authored the award-winning book Implementing Management Innovations and the textbook Fundamentals of Cost Accounting (now in its 5th edition). Her research has been published in leading research journals including The Accounting Review, Management Science, and Contemporary Accounting Research. She has been recognized with the American Accounting Association's Notable Contribution Award (2006) and with the American Accounting Association's Management Accounting Section's Notable Contribution to the Literature Award (2003, 2006, 2012) and the Greatest Influence on Practice Award (2010). Professor Anderson's research has been funded by competitive grants from the AICPA, the Institute of Internal Auditors, the Institute of Management Accountants, the National Science Foundation, and the Australian Research Council.
Professor Anderson has previously held faculty positions at the University of Michigan and Rice University. She has also held visiting faculty appointments at Harvard Business School and the University of Melbourne. Earlier in her career, she worked as an engineer for General Motors Corporation.
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Mr. Trautman leads the media and entertainment practice of Bortz Media & Sports Group, with more than 30 years of experience and an analytical focus on all aspects of media – including video programming, industry, firm- and product-level performance and prospects, market forecasting and trends, and audience behavior. He has provided both consulting and expert witness services to a wide range of corporations, including Comcast, Discovery Communications, Disney/ESPN, Gannett, Major League Baseball, and TiVo. He has also submitted testimony before the US Copyright Royalty Judges, the Canadian Copyright Royalty Board, and the Federal Communications Commission. Mr. Trautman’s testimony has covered industry and business strategies and trends; valuation in relation to programming and other media assets; and market analysis of media industries. His consulting assignments have focused on business strategies, competitive assessments, and market research, as well as the ways in which media technologies and consumer behavior intersect. Mr. Trautman is the author of Unleashing Connectivity and Entertainment in America: A Study of the Cable Industry’s Impact and Public Television’s Transition to a Digital Future, as well as other writings on television and digital broadcasting.
)Ms. Comstock has extensive experience applying economic and financial analyses to litigation and other complex business situations. She has assisted clients in all phases of the litigation process, including fact and expert discovery, trial preparation, and settlement negotiations. Ms. Comstock’s case work has involved litigation related to the high-profile bankruptcies of several firms. She has provided consulting support and supported experts in cases related to the alleged manipulation of different benchmark rates, including evaluations of the effects of alleged manipulation on the value of different derivatives and securities. She has also provided consulting and expert support in matters involving alleged violations of Rule 10b-5 and Section 11, and on matters related to mortgage-backed securities. Ms. Comstock has supported experts in ERISA-related litigations, alleged breach of contract matters, and other business and valuation disputes.
)Mr. Yenikomshian specializes in technology, data analysis, and economic modeling, and has consulted on technical, economic, and strategic issues to companies in a variety of industries, including computer software and technology, cybersecurity, blockchain and cryptocurrency, pharmaceuticals, and medical insurance. He has extensive experience analyzing technical issues, such as those relating to software and internet technologies, and translating them to a lay audience. Mr. Yenikomshian has analyzed the flows of data from user devices to third-party service providers such as analytics and advertising companies. He testified on behalf of the US Department of Justice in its criminal indictment of Jitesh Thakkar, who allegedly designed and sold a software program that assisted a commodities trader who was engaged in spoofing. In this matter, Mr. Yenikomshian’s role was to determine whether the software program that Thakkar produced operated the way that the trader’s requirements document had specified. He provided a detailed demonstration of how the requirements for the order types were translated into a software program by walking the court through the actual lines of code that implemented the requirements. Mr. Yenikomshian has also conducted numerous other software code reviews in a range of matters. In addition, he has developed interactive software tools to help clients make strategic decisions. Mr. Yenikomshian is a member of the American Bar Association and serves as co-chair of its Biotechnology, Healthcare Technology, and Medical Devices Committee. Previously, he served as co-chair of its Big Data Committee and Data Science Working Group, as well as vice chair of its Artificial Intelligence and Robotics Committee. Prior to joining Analysis Group, Mr. Yenikomshian was a partner in a software development and staffing technology firm.
)Paul E. Greenberg, Director of Analysis Group’s Health Care Practice, consults to pharmaceutical, biotechnology, and medical device companies in complex business litigation matters. Mr. Greenberg’s litigation experience has included performing economic and statistical analyses in support of testifying experts, as well as presenting findings to investigators from US Attorneys’ Offices and the Office of the Inspector General in numerous cases in which violations of the False Claims Act and/or the Anti-Kickback Statute have been alleged. Mr. Greenberg has provided economic consulting support in connection with class certification, liability, and damages in cases involving allegations of product failure, product fraud, antitrust, and/or patent infringement in the biopharmaceutical industry. He has provided strategic assistance to counsel at various key points in litigation, including pretrial discovery, settlement negotiations, and trial preparation. In the area of health economics and outcomes research (HEOR), Mr. Greenberg has undertaken cost-of-illness studies relating to numerous psychiatric and physical disorders, as well as pharmacoeconomic assessments of the cost-effectiveness of drugs based on data gathered in clinical trials and/or administrative claims files. Mr. Greenberg’s work in HEOR has been widely published in leading medical and health economics journals. He currently serves on the editorial boards of PharmacoEconomics, the Journal of Medical Economics, and Expert Opinion on Pharmacotherapy, and he previously served on the editorial boards of Law360’s Life Sciences and Health Care electronic newsletters.
Ms. Mills is an expert in US and international accounting and financial reporting issues, with over 30 years’ experience in the financial services industry. As the founder and president of Accounting Policy Plus, she has a deep knowledge of accounting issues in complex transactions and a strong track record of developing, implementing, and applying new accounting policies. Ms. Mills also has an extensive record as an expert witness, and has testified and filed expert reports on issues that include hedge accounting, structured transactions, securitizations, variable-interest entities, repurchase agreements, and the valuation of a complex portfolio of derivatives.
Prior to founding Accounting Policy Plus, Ms. Mills was a managing director at Morgan Stanley, where she oversaw the financial reporting and accounting policy departments. In that role, she spearheaded major policy implementation initiatives and met regularly with senior policymakers at the US Securities and Exchange Commission (SEC), the Federal Reserve System, the US Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). Ms. Mills also advised business units on structuring trades, oversaw SEC reporting and accounting compliance, and developed comprehensive training in generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for all finance personnel. She held a similar role at Merrill Lynch, where she also implemented a Sarbanes-Oxley governance framework and designed internal control requirements. Ms. Mills is a certified public accountant (CPA).
Professor Denis’s research examines corporate governance, corporate financial policies, corporate organizational structure, corporate valuation, and entrepreneurial finance. He has taught courses on corporate financial management, venture capital, and investment banking in M.B.A., Ph.D., and executive education programs. He has also consulted extensively to private companies, law firms, and government agencies on various aspects of financial markets and securities, including bankruptcy reorganization, payout policy, credit ratings, corporate restructuring, stock prices, corporate valuation, corporate governance, capital acquisition, executive compensation, mortgage-backed securities, and collateralized mortgage obligations. Professor Denis has published more than 50 articles in leading peer-reviewed journals, and coedited a book on corporate restructuring. He has served in editorial roles for a number of journals, including The Journal of Finance, The Review of Financial Studies, The Journal of Financial Research, the Journal of Corporate Finance, and Annals of Finance. He is a past president of the Financial Management Association International.
Dr. Ugone specializes in the application of economic principles to complex business disputes and is experienced in economic and damages-related analyses. He has provided financial and economic consulting services in cases involving antitrust, breach of contract, class certification, intellectual property, professional negligence, and securities-related issues. Dr. Ugone has frequently evaluated lost profits and valuation-related issues using large databases and complex computer models.
Dr. Ugone has constructed or evaluated damages models that have included such components as lost sales analyses, incremental cost analyses, assessments of profitability, assessments of the capacity to produce additional units, the competitive business environment in which a damage claim is made, claimed lost business value, and claimed reasonable royalties. He has performed economic liability analyses in antitrust matters including defining relevant markets, assessing market power, and evaluating alleged anticompetitive behavior. In consumer product class action matters, Dr. Ugone has addressed economic- and damages-related issues relating to classwide proof of claimed economic harm and price premium claims, including analyses of demand drivers affecting consumer purchase decisions and product pricing patterns observed at wholesale and retail levels. With respect to patent infringement matters, he has performed lost profits-related and reasonable royalty-related analyses.
Dr. Ugone has testified at trial and in deposition approximately 600 times.
Ms. Pinheiro has an extensive background in quantitative analysis and data science, which she has applied to various practice areas, including finance, intellectual property, biostatistics, and antitrust. In finance, she focuses on cases involving allegations of market price manipulation, misleading communications, excessive mutual fund fees, and mortgage-backed securities litigation. In particular, she has been retained by the US Department of Justice, regulatory agencies, banking institutions, and market exchanges to consult, advise, and testify on matters involving allegations of spoofing and price manipulation, as well as corresponding detection approaches. She has also applied survey analysis and statistical modeling to various intellectual property cases, including patent disputes among smartphone manufacturers, copyright tariff setting for musical works, and patent infringement in the pharmaceutical industry. She has extensive experience analyzing clinical trial, registry, and insurance claims data for both litigation and research purposes and has published manuscripts on pharmacoeconomic issues. In the antitrust field, she has acted as an expert and supported other experts in class certification and price-fixing matters involving a wide range of industries, including online search engines, computer chips, liquid-crystal display (LCD) panels, airline ticketing services, gaming, and grocery stores. Ms. Pinheiro has also authored expert reports and testified on questions relating to the modeling and calculation of royalties and damages.
Prior to joining Analysis Group, Ms. Pinheiro served as executive director of the finance group of CIRANO, where she conducted applied research projects in collaboration with private and public partners, including work on hedge funds, style analysis, credit and operational risk, and the development of integrated risk management tools for practical applications.
Professor Stavins is a leading expert in environmental and natural resource economics. He has consulted to public, private, and governmental organizations, and has served as an expert in dozens of matters.
In his energy-related work, Professor Stavins focuses on domestic and international climate policy; design and implementation of market-based policy instruments (e.g., tradable permits); the competitive effects of regulation; assessment of environmental regulation costs; and environmental benefit valuations. His natural resource work focuses on water, agriculture, and forestry. He is actively involved in advising public officials and government agencies on environmental policy. Professor Stavins was a member of the Energy and Environmental Markets Advisory Committee at the US Commodity Futures Trading Commission, and is a former chairman of the Environmental Economics Advisory Committee of the US Environmental Protection Agency’s Science Advisory Board. He has consulted to several presidential administrations, the US Congress, the US Agency for International Development, the World Bank, the United Nations, the National Academy of Sciences, state and national governments, environmental advocacy groups, private foundations, trade associations, and corporations.
Professor Stavins has over 30 years of teaching experience and holds numerous academic positions at Harvard, including as director of graduate studies for the Ph.D. program in public policy and Ph.D. program in political economy and government, and as co-chair of the Harvard Business School/Harvard Kennedy School joint degree program. His research on environmental, natural resource, and energy economics has appeared in over 100 articles in academic journals and popular periodicals, as well as in more than a dozen books.
Professor Desai has more than two decades of experience in tax policy, international finance, and corporate finance. His research has focused on the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. Professor Desai has consulted to companies and organizations on tax- and finance-related topics, and he has testified several times before the US Congress, including in a joint session of the Senate Finance Committee and the House Ways and Means Committee. His research has appeared in leading economics, finance, and law journals, and has been cited in media outlets such as The Economist, Businessweek, and The New York Times. His book The Wisdom of Finance was longlisted for the Financial Times and McKinsey Business Book of the Year Award. Professor Desai has also published on international tax issues such as the costs of shared ownership, with a focus on international joint ventures. He is a research associate in the National Bureau of Economic Research’s (NBER’s) Public Economics and Corporate Finance programs, and previously served as co-director of the NBER’s India program. He is also on the advisory boards of the International Tax Policy Forum and the Oxford University Centre for Business Taxation. Earlier in his career, Professor Desai was an analyst at CS First Boston.
Mr. Gustafson applies his expertise in economics, econometrics, and modeling to litigation, complex business issues, and the analysis of public policy issues. He has worked extensively in the areas of health care, insurance, employment, data privacy, ERISA, finance, intellectual property (IP), commercial damages, and class certification.
In his litigation work, Mr. Gustafson has provided deposition, arbitration, and trial testimony related to the economics of identity theft, physician compensation, the reasonable value of medical services, retirement benefits, employment compensation, lost earning capacity, and commercial damages, and he has critiqued plaintiffs’ proposed damages formulas in several class actions. His case work has involved evaluating claims of excessive investment fees in corporate 401(k) defined contribution plans, assessing the reasonable value of medical services for physicians and hospitals, analyzing health insurance claims to identify instances of alleged fraud and inappropriate billing by hospital providers, and auditing risk-pool reconciliations that set the level of at-risk payments to a hospital group and its physician partners. He has worked on several privacy-related class actions, providing testimony related to the economics of identity theft and damages, as well as supporting privacy, damages, survey, and technical experts.
Mr. Gustafson has worked with clients to perform affirmative pay equity studies and develop methodologies to address identified disparities. He has explored economic issues associated with a wide range of insurance products, including disability, health, life, product liability, and property insurance, as well as variable annuities. Mr. Gustafson also has experience in a variety of ERISA matters, including those related to health care plans, benefits, and insurance claims. Additionally, he has extensive experience assembling and analyzing large, proprietary datasets common in pay equity, insurance, and health care engagements. Prior to joining Analysis Group, Mr. Gustafson was the business manager in Tokyo for an international nonprofit. He also taught economics as a course assistant at the Harvard Kennedy School.
Professor Mizik is an expert in marketing strategy, valuation of intangibles, earnings management, and executive compensation in a range of industries, including health care. Her research centers on examining the consequences of marketing strategies and activities on financial performance, developing new metrics for marketing assets, and building empirical models to assess the value of intangible marketing assets. Professor Mizik has developed econometric analyses of sales, examined issues related to brand valuation, and researched evidence of real activity and accounting manipulations to artificially inflate reported earnings. She has served as an expert witness for a major pharmaceutical company in a false advertising case. Professor Mizik has published articles in a number of academic marketing and management journals. Prior to joining the Foster School, she served on the faculties of Columbia Business School and the University of North Carolina at Chapel Hill, and as a visiting professor at the MIT Sloan School of Management. She is a past member of the American Marketing Association Academic Council and has served as treasurer of the INFORMS (Institute for Operations Research and the Management Sciences) Society for Marketing Science.
Professor Hubbard is a leading expert in public economics, corporate and institutional finance, macroeconomics, antitrust, and industrial organization. He has provided trial and deposition testimony in numerous litigation matters, including more than a dozen cases in the Delaware Chancery Court. He has also served as a testifying expert in several high-profile finance- and securities-related cases, as well as on damages issues in antitrust matters. Professor Hubbard has consulted to several government and international agencies, including the US Department of the Treasury, the US International Trade Commission, the US Securities and Exchange Commission, the World Bank, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Congressional Budget Office. From 2001 to 2003, he served as chairman of the President’s Council of Economic Advisers.
Professor Hubbard has published more than 100 scholarly articles and coauthored several books, including the widely used textbook Money, the Financial System, and the Economy. His commentaries have appeared in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, and The Washington Post, as well as on PBS television and NPR radio business programs. A frequent speaker, Professor Hubbard has presented his research at economic conferences throughout the world.
Ms. Resch has extensive experience consulting on finance, financial economics, and accounting issues in complex litigations and arbitrations, with a particular focus on international arbitration. She is a testifying expert, specializing in the quantification of economic damages in both international arbitration and litigation. Ms. Resch has advised on valuation issues such as cost of capital and valuation discounts and premia. Her damages and valuation work has spanned disputes over complex financial instruments; oil and gas contracts; government expropriation matters; and shareholder disputes throughout the UK, Russia, Central Asia, and South America in both commercial arbitration and investment treaty arbitration. She has also consulted on state aid proceedings in the banking industry and provided damages assessments in litigation matters before the UK High Court of Justice. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.
Throughout his more than 40-year career, Professor Longstaff has developed a deep knowledge of all aspects of financial valuation. He is known for developing the Longstaff-Schwartz model, a multi-factor short-rate model; and the Longstaff-Schwartz method for valuing American options by Monte Carlo simulation. These valuation models have been used widely on Wall Street and throughout the global financial markets. He regularly consults to financial institutions, including mutual funds, hedge funds, and commercial banks, as well as to risk management firms. Professor Longstaff has taught at UCLA since 1993, and his research includes fixed income markets and term structure theory, derivative markets and valuation theory, credit risk, computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets. Earlier in his career, he served as the head of fixed-income derivative research at Salomon Brothers, Inc., in the research department of the Chicago Board of Trade, and as a management consultant for Deloitte Haskins & Sells. Professor Longstaff has published more than 70 articles in academic journals, including The Journal of Finance, American Economic Review, and the Journal of Financial Economics. He is a certified public accountant and a CFA charterholder.
Dr. Van Audenrode is an expert in data analysis and econometrics, labor economics, antitrust and competition policy, and public economics. He has consulted to clients - including law firms and government agencies - in Canada, the US, and Europe. Dr. Van Audenrode’s work includes developing a methodology to value desktop software; he also developed expertise valuing goods as varied as restaurant franchises, executive stock options, or smartphone features. His recent work in public economics includes evaluating the economic rent from hydroelectricity to the Canadian economy and the value of logging rights on the ancestral territory of a Canadian First Nation. In the area of labor economics, his work has included filing an expert report assessing fair compensation for Quebec provincial judges and Quebec prosecutors and advising Quebec’s commission on pay equity. Dr. Van Audenrode has filed expert reports in courts in the US, Canada, Belgium, Germany, France, and the Netherlands, and has testified in Canada and the US. He recently filed a report with the Amsterdam Court of Appeal in support of the settlement reached between Ageas and claimant organizations in the Fortis case, the largest settlement ever reached through the Dutch Collective Settlement Act (WCAM). Dr. Van Audenrode’s scientific research and articles have been published in numerous peer-reviewed academic journals and trade journals. He is a coauthor of the book The Mutual Fund Industry: Competition and Investor Welfare, and is a frequent presenter at industry and academic conferences.
*Marc Van Audenrode srl
Professor Steckel's primary research areas include marketing and branding strategy, marketing research, direct marketing, consumer response to marketing strategy, and management decision making. Professor Steckel has consulted, testified as an expert witness, and conducted modeling and analysis in numerous cases involving antitrust, damages assessment, trademarks, marketing and branding strategy, forecasting, and the statistical analyses of market response. He has analyzed industries including telecommunications, consumer products, financial services, pharmaceuticals, apparel, retail, and health care. He was the founding president of the INFORMS Society for Marketing Science, served six years as the chair of NYU Stern School's marketing department, and is currently the vice dean of the Ph.D. programs at NYU Stern.
Professor Steckel also has published numerous articles in such peer-reviewed journals as the Journal of Marketing Research, the Journal of Retailing, Marketing Science, Interfaces, and the Journal of Consumer Research.
Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 30 years of experience applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for merger review, regulatory investigations, and large private litigations. Working with affiliate David Dranove on behalf of the US Department of Justice, she led the case team that successfully challenged the proposed merger of Anthem and Cigna. She has managed economic analyses related to antitrust issues in more than 100 matters during her career, including numerous government, competitor, and consumer matters on behalf of MasterCard over more than two decades, and on behalf of Microsoft during a similar period. Ms. Samuelson has also provided analysis of issues of class certification, liability, and damages in a broad set of technology- and financial services-related cases, and has analyzed economic issues related to government investigations and mergers involving companies in technology and health care. She has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.
A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented before a number of legal audiences and at leading academic institutions, including the American Bar Association (ABA)’s Antitrust Section Annual Spring Meeting, the New York State Bar Association (NYSBA)’s Annual Antitrust Law Section Meeting, the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management. She has also participated in numerous legal and economic conferences and seminars. In one representative example, Ms. Samuelson moderated a panel at the US Federal Trade Commission and US Department of Justice joint public workshop on most-favored nation clauses, and subsequently coauthored an article on the program in the ABA Antitrust Section Joint Conduct Committee’s newsletter. Ms. Samuelson was named as one of Global Competition Review’s Women in Antitrust 2016, and she is frequently included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. She has served as a vice chair of the ABA’s Trial Practice Committee of Antitrust Law.
In addition to her economic consulting work, Ms. Samuelson serves as CEO and Chairman of Analysis Group, one of the largest economic consulting firms in the United States. She previously served as President and CEO (beginning in 2004), and prior to that as co-CEO (beginning in 1998). Since joining Analysis Group in 1992, Ms. Samuelson has played a key role in the company’s growth and diversification and has brought significant new clients, academic affiliates, and professional staff to the firm. Under her guidance, Analysis Group has been named (by Vault) as one of the top 50 consulting firms in the US for several years running. In Massachusetts, the firm has been consistently named in the annual Top Places to Work ranking by The Boston Globe, and the Top 100 Women-Led Businesses in Massachusetts listing by the Commonwealth Institute and Boston Globe Magazine. Ms. Samuelson is also the chair of the Boston Medical Center Hospital Board of Trustees.
Professor Jena is a health economist, practicing internal medicine physician, and professor of health care policy. His work involves several areas of health economics and policy, including the economics of medical innovation, the economics of physician behavior and the physician workforce, medical malpractice, and the economics of health care productivity. Professor Jena has been retained as an expert in several pharmaceutical and health care industry matters.
A prolific author, Professor Jena is the coauthor of the book Random Acts of Medicine, and he has contributed to more than 150 peer-reviewed articles and articles intended to increase patient understanding, published in outlets including The New England Journal of Medicine and The New York Times. He is a faculty research fellow at the National Bureau of Economic Research and serves on Harvard Medical School’s Standing Committee on Health Policy. Professor Jena is a recipient of the NIH Director’s Early Independence Award to fund research on the physician determinants of health care spending, quality, and patient outcomes, and a recipient of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) New Investigator Award. In 2018, he was listed among 100 great leaders in health care by Becker’s Hospital Review.
Dr. Heavner has consulted on a wide variety of litigation topics, including ERISA, securities, and antitrust, and he has analyzed issues related to class certification, liability, and damages. Dr. Heavner’s ERISA casework includes dozens of litigations, including at least six cases in which Analysis Group clients have prevailed at trial. He has written and presented on a variety of topics related to investments and retirement plans. His publications in this area include “Expert Analysis of Plan Losses in ERISA Class Action Litigation” (published in BNA Pension & Benefits Daily).
Dr. Heavner’s securities litigation experience includes directing the support of expert witnesses retained on behalf of mutual fund advisors in many of the largest mutual fund excessive fee actions ever filed, including four such cases that culminated in trial victories for our clients. His other finance and securities casework includes cases involving allegations of securities fraud, imprudent asset management, and investment suitability. In Florida State Board of Administration v. Alliance Capital Management, Dr. Heavner directed the support of expert witnesses retained on behalf of Alliance Capital. This case culminated in a trial in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund. The National Law Journal declared the verdict one of the top ten defense wins of the year.
Dr. Heavner’s antitrust experience includes matters involving allegations of collusion (including alleged concerted refusals to deal), anticompetitive vertical restraints of trade, predatory pricing, illegal price discrimination, mergers, and standards setting. He has earned Accredited Investment Fiduciary® designation and has been a member of the Analysis Group 401(k) Committee since 2009. He formerly taught economics and finance at Tulane University’s A.B. Freeman School of Business.
Mr. Yackira is an expert on business strategy, and on corporate finance and development in the energy sector. He is a former executive with experience developing operating strategies for company transformation, and he has served on the boards of several public companies. Mr. Yackira was one of three independent directors as well as chair of the audit committee at 8point3 Energy Partners, a publicly traded “yieldco” formed by First Solar and SunPower. Previously, he was the CEO and CFO of NV Energy. During Mr. Yackira’s tenure, the company’s assets grew from approximately $7 billion to $12 billion over the course of 10 years, primarily from investments in electric power plants and increased company-owned generating capacity. His responsibilities included developing strategies to improve financial health and operating performance, as well as regulatory and investor relationships. Mr. Yackira also served on the board of directors at the Edison Electric Institute for seven years, including as vice chairman and chairman. Earlier in his career, he spent more than a decade with FPL Group (now NextEra Energy) in various senior-level positions, including CFO of both the parent company and its Florida Power & Light subsidiary, as well as president of FPL Energy during a strategic expansion that led it to become the largest energy company in the US.
Professor LoSasso’s research spans several dimensions of health economics and health services research, focusing on how government policies affect private sector decisions. He has studied the impact of the State Children’s Health Insurance Program on insurance coverage among children and the extent to which public coverage “crowded out” private coverage. In addition, Professor LoSasso has examined how community rating regulations affected individual health insurance coverage. His research has also addressed the effects of health savings accounts and other high-deductible health insurance products on service use and spending. Professor LoSasso’s research has appeared in leading academic journals, including Health Affairs, The Journal of Health Economics, The Journal of Public Economics, and The Journal of Risk and Insurance. He is an associate editor at Medical Care Research and Review and serves on the editorial board of Health Services Research and Journal of Community Health. In addition to his academic research, Professor LoSasso has provided expert testimony in numerous matters pertaining to the appropriateness of FAIR Health methodology for use as health care charge benchmarks, as well as for use in workers’ compensation medical reimbursement disputes. He is a former executive director of the American Society of Health Economists (ASHEcon).
Dr. Pearlson is an expert in cybersecurity whose research spans management information systems, business strategy, and organizational design, as well as the development of a culture of cybersecurity to support the mitigation of cyber breaches. She also has experience in information management topics such as information systems leadership responsibilities, reengineering of business process design, and reasonable information protection practices. Dr. Pearlson has testified in litigation. She has also consulted to chief executives at established companies and startups on information technology (IT) strategy, and has led IT leadership development programs. Dr. Pearlson is a founder and managing partner of KP Partners, an advisory and executive education firm for chief information officers (CIOs), chief analytics officers (CAOs), and chief information security officers (CISOs). She is also founder and executive director of the Executive Networks IT Leaders Forum, and the founding director of the Analytics Leadership Consortium at the International Institute of Analytics. Dr. Pearlson is coauthor of Managing and Using Information: A Strategic Approach and Zero Time: Providing Instant Customer Value – Every Time, All the Time! She is a frequent guest speaker and has held positions in academia and industry, including at Babson College, The University of Texas at Austin, the Gartner Research Board, CSC Index, and AT&T.
Dr. Vigil specializes in the application of economics and finance to complex commercial litigation matters. His work includes the estimation of damages and unjust enrichment in intellectual property (IP), breach of contract, and false advertising cases; the evaluation of patented drug products’ commercial success in connection with generic manufacturers’ Abbreviated New Drug Application submissions to obtain early market entry; and the analysis of issues related to the granting of permanent injunctions, such as irreparable harm and causal nexus. Dr. Vigil has also analyzed issues related to domestic industry, remedy, and bonding on cases before the International Trade Commission.
Dr. Vigil has served as an expert witness on litigation matters in a variety of industries, including pharmaceuticals, medical devices, consumer products, telecommunications, computer hardware and software, and electronics. In non-litigation matters, he has assisted clients in valuing IP for sale or license; identifying and evaluating potential partners for licensing, acquisition, or divestiture of assets; and analyzing the impact of generic entry on prices and market shares of brand name pharmaceutical products.
Dr. Vigil is a member of the American Economic Association, the American Marketing Association, and the Licensing Executives Society, and is a frequent speaker on issues related to IP, valuation, and damages assessment. He has also taught courses in microeconomics and econometrics at the University of Maryland.
Professor Stuart specializes in intellectual property, corporate strategy, and entrepreneurship, and has conducted analyses of firms' incentives to innovate. He has provided expert consulting services to numerous companies, and teaches M.B.A., doctoral level, and executive education courses in corporate strategy, mergers and acquisitions, technology strategy, and entrepreneurship.
Professor Stuart's academic research focuses on the formulation of firm strategies in a number of industries; the formation, governance, and consequences of strategic alliances; organizational design and new formation in established firms; and venture capital networks and the role of networks in the creation of new firms. He is a recipient of the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and of Administrative Science Quarterly's Scholarly Contribution Award for best paper.
A prolific author, Professor Stuart has published several book chapters and numerous articles in peer-reviewed journals, including Administrative Science Quarterly, Strategic Management Journal, Management Science, Research Policy and Industrial and Corporate Change. He is a past or present editorial board member of these journals, and a former associate editor of the American Journal of Sociology.
Professor Knittel’s research focuses on industrial organization, applied econometrics, and energy and environmental economics. He has provided trial and deposition testimony in a number of litigation matters, including valuing product features in smartphones, PCs, and contact lenses. He has also consulted to Delta Airlines, Ford Motor Company, the US Energy Information Administration, and Korea Electric Power Company. Professor Knittel has authored or coauthored numerous articles on topics such as market structure and product pricing, tacit collusion, and challenges in merger simulation analysis. Examples of his research include articles on the spurious correlation between ethanol production and gasoline prices, unilateral market power in the electricity reserves market, and tacit collusion in credit card markets. His research has appeared in the American Economic Review, the American Economic Journal: Macroeconomics, the American Economic Journal: Economic Policy, The Review of Economics and Statistics, The Journal of Industrial Economics, and The Energy Journal, among other academic publications. He is a former coeditor of the Journal of Public Economics and serves or has served as an associate editor for several other scholarly journals, including the American Economic Journal: Economic Policy, The Journal of Industrial Economics, the Journal of Transport Economics and Policy, and The Journal of Energy Markets. Professor Knittel is a research associate at the National Bureau of Economic Research (NBER) in the Productivity, Innovation, and Entrepreneurship and Industrial Organization programs, and he co-directs the Environment and Energy Economics program.
Ms. Swallow provides strategic expertise to life sciences companies and policymakers. She specializes in applying quantitative methods to real-world problems involving evaluation, decision making, strategy, and public policy in the health care and social policy sectors. She has more than 15 years of experience leading data analytics implementation, real-world evidence (RWE) generation, regulatory submissions, analytic platform design, and trial design. Ms. Swallow’s expertise includes regulatory-grade indirect treatment comparisons, survey research, database analyses, natural history studies, brand strategy, policy evaluation, RWE development, individualized medicine, and predictive analytics. Additionally, she has led health and social policy program evaluations. Ms. Swallow has worked across disease areas, including obesity, rare diseases, immunology, multiple sclerosis, hematology, oncology, and renal disease. Her work has been used to inform regulatory and reimbursement decisions in US and global markets, published in numerous peer-reviewed journals, and presented at dozens of clinical and economic research conferences.
Mr. Hibbard is an expert on economics, strategy, regulation, and policy in the electric and natural gas industries. He has a comprehensive background merging business development, technical analysis, resource planning and development modeling, economics, and public policy in the energy and environmental fields. Mr. Hibbard has provided technical and strategic advice to government, industry, business, public interest groups, and trade organizations on energy market structure, electric and natural gas infrastructure planning and siting, utility resource solicitation and procurement, emission allocation and environmental policy, renewable resource program design and administration, transmission pricing, climate change policy, utility ratemaking practices, and the transfer of US federal and state emission control programs to other countries.
Prior to joining Analysis Group, Mr. Hibbard was chairman of the Massachusetts Department of Public Utilities. During his tenure, he carried out a forward-looking ratemaking and policy agenda to advance energy efficiency and renewable resources, coordinate regional efforts in the development of energy resources and associated infrastructure, and promote the administration of fair and efficient transmission pricing models in regional and national contexts. He also has provided testimony on resource planning, competitive electricity markets, and transmission pricing in hearings before committees of the Massachusetts legislature and the US House of Representatives, the Federal Energy Regulatory Commission (FERC), and state and regional planning councils. Mr. Hibbard has also served as a member of many energy-related boards and committees.
Dr. Sun is an anesthesiologist and health economist with expertise in perioperative and pain medicine, population health, and public health policy. His research explores issues of health through clinical and economic lenses, and has examined topics such as the influence of drug and physician pricing on medical outcomes; physicians’ responses to payment program incentives; the economics of medical innovation, including the value of new technologies to patients and society; and methods for lowering the use of opioids in pain management. From 2019 to 2020, he served as a senior health economist on the President’s Council of Economic Advisers. Dr. Sun coauthored the book Health and Wealth Disparities in the United States, and cowrote the chapter “Do We Need the FDA? Improving the Regulation of Pharmaceutical Products” in Regulation vs. Litigation: Perspectives from Economics and Law. He has published articles in The American Journal of Managed Care, the Annals of Internal Medicine, Forum for Health Economics & Policy, Health Affairs, JAMA, JAMA Internal Medicine, the Journal of Health Economics, and The New England Journal of Medicine, among other journals. He is an associate editor of Anesthesia and Analgesia and Anesthesiology. Dr. Sun’s committee memberships have included serving on the Committee on Evidence-Based Clinical Practice Guidelines for Prescribing Opioids for Acute Pain of the National Academies of Science, Engineering, and Medicine.
Dr. Weglein is an economist who testifies and supports testifying experts in complex antitrust and securities litigation and in international arbitrations. He has testified on behalf of several large banks (market definition, competitive effects, and damages) in an antitrust case involving municipal bond markets and testified on damages in a major arbitration in the shipping industry. He led a team of consultants working with counsel in Apple’s successful defense against antitrust claims brought by Epic Games. Dr. Weglein co-led a team working on behalf of three traders in the US v. Richard Usher, et al. criminal antitrust case in the foreign exchange market and in subsequent litigation brought by the US Treasury; he also co-led a team of consultants supporting the US Department of Justice (DOJ) in its successful efforts to block the Anthem/Cigna merger. He has worked in private litigation brought by health care providers against payers, several qui tam matters in health care markets, and various matters involving the health care provider and pharmaceutical markets. Dr. Weglein serves as Analysis Group’s representative to the advisory board of the New York International Arbitration Council. He has made presentations to The Knowledge Group, Global Competition Review, the New York State Bar Association, the Moot Alumni Association, and at the DOJ, and has coauthored numerous publications.
Ms. Stamm specializes in the application of finance and accounting to problems in complex business litigation. She has testified on damages arising out of general commercial disputes and intellectual property matters and provided consulting expertise, including assistance with pretrial discovery, development of economic and financial models to analyze damages, critique of analyses of opposing experts, and preparation of expert reports and testimony. She has also conducted analyses relating to the valuation of financial instruments, valuation of private companies, and lost profits. In non-litigation matters, Ms. Stamm has assisted numerous businesses in varied industries with the development of business plans and financial projections, often through the use of complex integrated financial models. Ms. Stamm is a certified public accountant and a member of the Massachusetts Society of Certified Public Accountants, where she has served on the litigation support committee. She is also a frequent speaker at conferences and seminars on topics related to securities and intellectual property litigation, and has published articles on valuation and patent damages.
Professor Lys is an expert in accounting and finance, including real estate finance, financial reporting, securities analysis, and M&A. He has testified on issues related to valuation, corporate governance, corporate finance, disclosures in M&A, fairness opinions, antitrust, GAAP compliance, taxes, and contract disputes on behalf of US and foreign government agencies and corporate clients.
Professor Lys’s research interests include risk arbitrage, labor participation in corporate decisions, auditor liability, behavioral finance, negotiations, and earnings forecasts. He has published numerous working papers and articles in refereed journals, as well as a book on negotiation that integrates the rational models of economics with the less-than-rational models of psychology. He also has edited two volumes of Karl Brunner’s work, as well as two book chapters in edited volumes. His research investigates analyst earnings forecasts and stock valuations; efficiency of analyst earnings forecasts; the ability of security analysts to learn from experience; stock price behavior following earnings announcements; properties of estimators of autocorrelation coefficients; the impact of transaction costs for market efficiency; M&A; and investors’ interpretations of corporate social responsibility initiatives.
Professor Lys was an editor of the Journal of Accounting and Economics for 11 years and also served on the editorial board of The Accounting Review. He is a recipient of the American Accounting Association’s Distinguished Contributions to Accounting Literature Award for 2022.
Professor Levinsohn is an expert in antitrust, industrial organization, and econometrics. He has provided expert reports and testimony in several landmark antitrust and regulatory matters, including In re: TFT-LCD (Flat Panel) Antitrust Litigation, In re: Vitamins Antitrust Litigation, In re: New Motor Vehicles Canadian Export Antitrust Litigation, and the Tobacco Master Settlement Agreement proceedings. He has also consulted to numerous foreign governments and international organizations.
Professor Levinsohn conducts research in industrial organization, applied econometrics, international economics, and development economics. He has served on the editorial boards of American Economic Review, The Review of Economics and Statistics, the Journal of International Economics, and the Journal of Economic Literature. Prior to joining the Yale faculty, Professor Levinsohn was the J. Ira and Nicki Harris Family Professor of Public Policy at the Gerald R. Ford School of Public Policy at the University of Michigan.
Professor Starks is an expert in finance, investment management practices, capital markets, and environmental, social, and governance (ESG). Her current research focuses on ESG issues, including climate finance and board diversity, as well as the links between molecular genetics and financial decisions. Professor Starks has served as an expert witness in federal courts on behalf of Wells Fargo, Merrill Lynch Asset Management, Vesta Insurance, and DuPont. Her research on finance issues has been published widely, and she is the editor of the Financial Management Association Survey and Synthesis Series of books, a former editor of The Review of Financial Studies, and a former advisory editor of Financial Analysts Journal and Financial Management. Professor Starks received the Moskowitz Prize for Outstanding Research in Sustainable Finance for “Corporate ESG Profiles and Investor Horizons.” She is a research associate at the National Bureau of Economics Research, a research member of the European Corporate Governance Institute, and a senior fellow at the Asian Bureau of Financial and Economic Research. Professor Starks has served as president of the Society of Financial Studies, the Western Finance Association, the Financial Management Association, and the American Finance Association. She has served on mutual fund boards of directors, pension fund advisory committees, the board of governors of the Investment Company Institute, the governing council of the Independent Directors Council, and advisory committees of the Norwegian Government Pension Fund.
Professor Edwards is an expert in international economics and management, with a particular focus on Latin America. He has consulted to a number of national and international corporations, as well as to multilateral institutions such as the Inter-American Development Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United States Agency for International Development, and the World Bank, where he served as chief economist for the Latin America and Caribbean region. He has also consulted to a number of national governments, including those of Costa Rica, Guatemala, Mexico, Argentina, Chile, Colombia, New Zealand, Indonesia, Tanzania, and Nicaragua. Professor Edwards has published widely on international economics, macroeconomics, and economic development, and has written editorials on Argentina’s economic situation for The Wall Street Journal and the Financial Times. He is a research associate at the National Bureau of Economic Research, a member of the advisory board of Trans-National Research Corporation, and former chairman of the Inter-American Seminar on Economics. Professor Edwards was awarded the 2012 Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economic Association for his lifetime contributions to policymaking in Latin America and the Caribbean.
Dr. Tierney is an expert on energy policy and economics, specializing in the electric and gas industries. She has consulted to companies, governments, nonprofits, and other organizations on energy markets, as well as economic and environmental regulation and strategy. Her expert witness and business consulting services have involved industry restructuring, market analyses, utility ratemaking and regulatory policy, clean energy regulatory policy, transmission issues, wholesale and retail market design, and resource planning and procurement. Dr. Tierney is a former assistant secretary for policy at the US Department of Energy, state cabinet officer for environmental affairs, and state public utility commissioner. She chairs the board of directors of Resources for the Future; serves on the external advisory board of the National Renewable Energy Laboratory; and is a member of the boards of directors of the World Resources Institute, the Alfred P. Sloan Foundation, the Barr Foundation, and other organizations. She has published widely, frequently speaks at industry conferences, and has lectured at many leading universities.
Professor Macey’s research and writings focus on corporate governance, corporate finance, and banking and financial institution regulation. He has served as an expert in cases involving corporate governance and corporate control – in particular, matters involving piercing the corporate veil and breach of fiduciary duty across various industries. Professor Macey is the author or coauthor of many books, including Macey on Corporation Laws and two leading casebooks: Cases and Materials on Corporations Including Partnerships and Limited Liability Companies and Banking Law and Regulation. He has published over 100 articles in major law reviews and journals, including The Banking Law Journal and The Journal of Law and Economics, and has served on numerous journal editorial boards. Professor Macey’s op-eds have appeared in The Wall Street Journal, Forbes, the Los Angeles Times, and The National Law Journal, among other publications. His awards include a Ph.D. honoris causa from the Stockholm School of Economics. Prior to joining the Yale faculty, Professor Macey was the J. DuPratt White Professor of Law and director of the John M. Olin Program in Law and Economics at Cornell Law School, and a professor of law and business at Cornell’s Samuel Curtis Johnson Graduate School of Business. He has served as a professor of law at The University of Chicago Law School and as a visiting professor of law at Harvard Law School.
Mr. Weinstein specializes in the application of quantitative methods to real-world problems involving decision making, strategy, risk management, and litigation in a variety of sectors. His work in the health care sector includes building algorithms for real-time suspicious order monitoring of controlled substance distribution by manufacturers and wholesalers, as well as statistical assessments of controlled substance dispensing issues at the pharmacy and prescriber levels. He has also led the creation of flexible damages models for use in litigation matters involving the False Claims Act, the Anti-Kickback Statute, intellectual property, and controlled substance regulation. He has served as an expert witness, testifying in administrative proceedings before the Drug Enforcement Administration (DEA).
Mr. Weinstein has managed the analysis of large transaction-level and claims databases. He also has broad experience supporting leading academic experts, working with cross-functional client teams, and presenting analytical results to top executives and government officials, including those at the DEA, US Attorneys’ Offices, and state attorneys general. In his work at Analysis Group, Mr. Weinstein builds on his prior experience, which includes contributing to economics research on 401(k) savings behavior, forecasting consumer demand at Zipcar, and advising foundations and government agencies on how to track and interpret data.
Professor Sundararajan’s research focuses on how digital technologies transform business, government, and civil society. He has extensive expertise in the regulation and governance of digital platforms, antitrust policy in high-tech industries, the economics of network effects, pricing and privacy issues in platform markets, valuation of digital businesses, and artificial intelligence (AI). He has provided expert testimony about the digital economy before Congress, the European Parliament, and to various city, state, and federal government agencies, including the Federal Reserve Bank and the Federal Trade Commission (FTC). Widely published, Professor Sundararajan has presented his research in peer-reviewed journals and at conferences, earned numerous awards and grants, and given hundreds of keynote, plenary, and other talks at industry, government, and academic forums around the world. His op-eds and other articles have appeared in more than 40 media outlets, including The New York Times, The Financial Times, Harvard Business Review, Fortune, and WIRED. Professor Sundararajan is the recipient of the Axiom Business Book Award for The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. He is a member of the World Economic Forum’s Global Future Council on the New Economic Agenda. Professor Sundararajan also advises organizations ranging from large corporations and tech startups to nonprofits and municipal governments. In addition to his primary professorial appointments, Professor Sundararajan is an affiliated faculty member at many of NYU’s interdisciplinary research centers, including the Center for Data Science and the Center for Urban Science and Progress.
Professor Pindyck is a leading industrial organization economist and testifying witness in the areas of antitrust and intellectual property. His research and writing have covered topics in microeconomics and industrial organization, the behavior of resource and commodity markets, financial markets, and econometric modeling and forecasting. His recent work in economics and finance has examined the determinants of market structure and market power, the dynamics of commodity spot and futures markets, criteria for investing in risky projects, the role of R&D, and the value of patents. He has received many academic honors, including several awards for outstanding teaching, and holds senior editorial positions with a number of publications. Professor Pindyck has consulted to dozens of public and private organizations, including the Federal Trade Commission, IBM, and AT&T, and has been deposed and/or testified in over a dozen cases in diverse industries such as food, energy, software, medical devices, and airlines. He has worked with Analysis Group on many of these cases, including the Lotus v. Borland litigation, in which Professor Pindyck used econometric modeling techniques to identify the economic value of various attributes and isolated the value of the infringing features. He also worked with Analysis Group in a major litigation matter involving price-fixing allegations, in which he examined allegations of accumulation of buying power and the resulting effects on negotiations with suppliers.
Mr. El-Hage is an expert in corporate governance, corporate finance, and valuation, with more than 20 years of professional experience in executive management positions, focusing in the areas of private equity, equity financing, restructuring, and venture capital. He has provided consulting in several litigation matters involving governance and valuation issues and has provided expert testimony at deposition. He has also served on the boards of numerous private and public companies, ranging from start-ups to those with several billion dollars in revenues. He is currently the independent chairman of the MassMutual Premier Funds, a $10 billion+ mutual fund complex.
In addition to his experience raising capital, Mr. El-Hage has hands-on experience as the CEO and CFO of operating companies. In those capacities he oversaw corporate expansion, raised capital, and restructured debt. As a professional with two public equity firms, he evaluated investment opportunities, led a successful public offering, and undertook extensive due diligence and financial modeling, as well as completing the sale of two portfolio companies.
In 2003, Mr. El-Hage became senior associate dean for external relations at the Harvard Business School, where he was also, at various times, a professor of management practice and the Thomas Henry Carroll/Ford Foundation Adjunct Professor of Business Administration. He introduced and taught a new elective course on management and governance of active investing, in addition to courses in leadership and corporate accountability, and corporate finance. He was voted Capstone Professor six times, a rare honor, and was also awarded the prestigious Student Association Teaching Award in 2006.
Dr. Yang is an expert in health economics and outcomes research (HEOR), with extensive experience in developing comprehensive HEOR strategies to support products throughout their entire life cycles. As part of her diverse portfolio of HEOR case work, she has developed robust launch strategies; generated real-world data (RWD); and created clinical, economic, and humanistic evidence to support product value propositions. Notably, Dr. Yang has led case teams in preparing submissions to health technology assessment (HTA) agencies across the world, including those in the UK, France, Germany, Norway, Australia, Canada, and Japan. She has also conducted numerous studies across various therapeutic areas – such as autoimmune diseases, infectious diseases, diabetes, blood disorders, oncology, women’s health, and rare diseases – and worked across diverse treatment paradigms, including one-time interventions involving cell and gene therapies, as well as recurrent treatment regimens. Dr. Yang’s work has been widely published in peer-reviewed journals and featured at health care conferences.
Professor Madnick specializes in database technology, connectivity among disparate distributed information systems, software project management, and the strategic use of information technology (IT). He is an experienced expert witness and has provided testimony in numerous litigation matters, including multiple cases involving Microsoft. Professor Madnick has also consulted to several major corporations, including IBM, AT&T, and Citicorp. He is co-head of the Total Data Quality Management (TDQM) Program and founding director of MIT’s Interdisciplinary Consortium for Improving Critical Infrastructure Cybersecurity, also known as (IC)3. Professor Madnick was the principal investigator of a large-scale research effort funded by the US government’s Defense Advanced Research Projects Agency (DARPA) on context interchange, which involved the development of technology that helps organizations work more cooperatively and collaboratively. His industry work includes contributions to projects such as IBM’s VM/370 operating system and Lockheed Martin’s DIALOG information retrieval system. He has also founded or co-founded several high-tech firms, including Intercomp, acquired by Logicon; Mitrol, acquired by General Electric; the Cambridge Institute for Information Systems, subsequently renamed Cambridge Technology Group; and iAggregate, acquired by ArsDigita, which was subsequently acquired by Red Hat. Professor Madnick has authored or coauthored over 400 books, articles, and technical reports.
Dr. Sutcliffe's expertise is in the areas of strategic management and organization theory. Her research has been aimed at understanding how organizations and their members cope with uncertainty and unexpected events, and how complex organizations can be designed to be more reliable and resilient. Dr. Sutcliffe is a coauthor of Managing the Unexpected: Resilient Performance in an Age of Uncertainty (2007) and Medical Error: What Do We Know? What Do We Do? (2002). She has published her research on high-reliability organizations, organizational resilience, and safety culture in numerous management and health care journals, and she has presented her findings nationally and internationally. Dr. Sutcliffe has also consulted with private multinational companies in a variety of industries, and with nongovernmental organizations and government agencies. She was recently appointed by The National Academies to a research panel on workforce resilience that will study and provide recommendations to the US Department of Homeland Security. She has received multiple grants, including a 2010 award from the Robert Wood Johnson Foundation to conduct a study of the medicalization of patient safety. Dr. Sutcliffe has served on the editorial boards of several academic journals, including Organization Science, Academy of Management Journal, Organization Studies, and the International Public Management Journal.
Dr. White specializes in health care, transfer pricing and valuation, and general commercial litigation. He combines his expertise in applied microeconomics, statistics, and econometrics with nearly 25 years of experience with client engagements. A diverse range of clients have retained Dr. White to assist in all stages of the litigation cycle – including advising on discovery issues, expert report preparation, and preparation for deposition and trial. He has worked on general commercial litigation matters such as allegations of false advertising and breach of contract, investigations into alleged off-label promotion of prescription drugs, and the economic impact of generic drug entry/substitution. Additionally, he has also analyzed economic issues relevant to class certification and quantification of damages.
Dr. White has managed numerous commercial litigation matters, supporting academic and industry specialists with expertise in industrial organization, statistics, health economics, and marketing. His tax and transfer pricing work has evaluated the arm’s length nature of pricing in intercompany transactions, and the estimation of useful economic lives for various tangible and intangible assets. In addition to his litigation work, Dr. White’s health economics engagements have included the development of empirical models for evaluating factors to help identify patients at risk of prescription opioid abuse, as well as the estimation of societal economic costs of prescription opioid abuse.
An active researcher, Dr. White’s publications have focused on specific health economics issues, such as the economics of prescription opioid abuse and the evaluation of the impact of biosimilar approval on the litigation landscape. He has presented and participated in a number of industry conferences. Dr. White is an adjunct faculty member in the Department of Economics at Northeastern University, where he teaches courses on applied microeconomics and applied econometrics.
Professor Sussman focuses his research in the areas of real estate investment and finance, financial statement analysis and valuation, and corporate financial reporting. He has consulted to large and small firms nationally and globally, and is a frequent lecturer on a variety of financial, accounting, and corporate reporting topics. Professor Sussman has served as an expert witness and consultant in commercial litigation involving matters of real estate due diligence and related practices, corporate financial reporting and disclosure, audit effectiveness, valuation, and overall damage analyses. He is a founding partner of Clear Capital, where he oversees the firm’s capital, equity, and debt departments and strategic planning functions, and provides leadership to the firm in the areas of private equity, joint ventures, and fund formations. Professor Sussman is also president of Amber Capital; manager of Fountain Management; and managing partner of the Pacific Value Opportunities Fund and Clear Opportunity Fund, which have acquired, rehabilitated, developed, and managed over 2 million square feet of residential and commercial real estate. He also serves as the audit committee chairman of the board of trustees of Causeway Capital’s group of funds, which collectively have more than $15 billion in assets. Professor Sussman is a licensed certified public accountant in the State of California.
Professor Reibstein’s research focuses on competitive marketing strategies, metrics, and product line decisions, among other topics. He has provided marketing management education and consulting research to companies in the consumer goods, pharmaceutical, and oil and gas industries, among others. His consulting activities have included numerous applications of conjoint analysis and other survey techniques in engagements spanning a wide range of products. Professor Reibstein has submitted expert reports and provided testimony on marketing and marketing research in several litigation matters, including analyses of smartphone features in a patent dispute, health claims in a false advertising dispute, and pharmaceutical detailing in a co-marketing dispute.
His recent work includes assessing strategies to address competitors’ reactions to marketing actions and developing metrics that link marketing decisions to financial consequences, which was published in his book, Marketing Metrics: The Definitive Guide to Measuring Marketing Performance. Professor Reibstein is also the author or coauthor of numerous books and chapters in books on subjects including competitive marketing strategy, global branding, and marketing performance measurement. Professor Reibstein has also written several papers on conjoint analysis and its validity and reliability. His research has been published in leading academic journals, including Marketing Science, the Journal of Marketing Research, and the International Journal of Research in Marketing.
Professor Reibstein has been honored with more than 30 teaching and publishing awards, including the John S. Day Distinguished Alumni Academic Service Award from Purdue University’s Krannert School of Management. He has served as the chairman of the American Marketing Association board of directors and as the executive director of the Marketing Science Institute.
Mr. Hutchings’ economics expertise spans a wide array of topics, including tax and transfer pricing, securities and finance, valuation and damages, and antitrust. Deeply experienced in litigation, international arbitration, and investigations, he has led case teams, conducted economic and financial analyses, estimated damages and liability, and performed valuation analyses in complex matters across many jurisdictions, including the US, Canada, the UK, the EU, Latin America, and Australia.
In tax controversy and transfer pricing matters, he has assisted expert witnesses and attorneys for both taxpayers and taxing authorities in jurisdictions around the world. Mr. Hutchings has analyzed intercompany financings for both debt/equity characterization and debt pricing questions, valued closely held corporations, studied issues of cost allocations between related parties, and assessed arm’s-length pricing in a variety of contexts. For example, he has worked with financial institutions on allocating losses amongst subsidiaries, studied the sources of value for consumer packaged goods, priced related party transactions for pharmaceutical products, and worked with medical device manufacturers on transfer pricing between related parties. Mr. Hutchings has provided expert reports on tax dispute and transfer pricing issues for both planning and litigation. He has also applied transfer pricing principles in non-tax disputes such as assessing fairness in corporate transactions between related parties.
In antitrust and competition matters, Mr. Hutchings has analyzed anticompetitive effects, evaluated potential remedies, examined the economics of platform markets, and assisted in the preparation of analysis and testimony before courts and government regulators, such as the US Federal Trade Commission (FTC).
In addition, he has quantified harms and foregone benefits, and valued natural resources and treaty entitlements, in several disputes between Canadian First Nations and the Crown, both testifying at trial and consulting to reach pre-dispute resolutions. He has also quantified damages arising from tortious interference, breach of contract, and other contractual and extra-contractual remedies, and provided valuation analyses in numerous commercial disputes.
Ms. Wood is an expert in institutional investing, global corporate governance, equity and bond portfolio management, financial analysis, and securities analysis, with over 35 years of experience in the asset management industry. She also has expertise in investment management and asset allocation of pension funds, mutual funds, insurance companies, endowments, and foundations. She has served as an expert witness in litigation involving asset allocation, investment policy, investment manager due diligence, public pension plans, corporate governance, securities analysis, and portfolio management.
Ms. Wood led the $150 billion equity, hedge fund, and activist portfolios for the California Public Employees’ Retirement System (CalPERS), the largest public pension plan in the US. She also managed the CalPERS corporate governance program and Focus List engagements, including its environmental, social, and governance (ESG) strategies. Ms. Wood’s other ESG activities include serving as board chair of the Global Reporting Initiative, tasked with setting global sustainability disclosure standards for over 5,000 companies worldwide. She is a former CEO of Capital Z Asset Management, one of the largest independent sponsors of hedge funds, where she was responsible for minority equity ownership in 11 hedge funds across $7 billion in equity, fixed income, and commodity strategies.
Ms. Wood serves on numerous boards of directors, having chaired the audit, corporate governance, and investment committees of the boards of several financial institutions. Previously, she was a member of the Financial Accounting Standards Board (FASB) Investor Advisory Group, the Public Company Accounting Oversight Board (PCAOB) Standing Advisory Group, and the International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group. She is a frequent speaker on topics that include sustainability reporting, corporate governance, ESG disclosure, best practices of boards of directors, global alpha generation, and hedge funds. Ms. Wood was a 2018 Harvard University Advanced Leadership Fellow.
Professor Fader is a marketing expert who analyzes behavioral data to understand and forecast customer shopping and purchasing activities, determine customer lifetime value, and assess customer relationship management activities. His research highlights the consistency of customer behavior patterns across industries, as well as methods for leveraging this information to create more effective marketing strategies. He has provided expert testimony in litigation, and he has consulted to firms in a range of industries, including consumer packaged goods, interactive media, financial services, retailing, and pharmaceuticals. Professor Fader has published numerous journal articles and book chapters on a variety of marketing and applied statistics topics. He is the author of Customer Centricity: Focus on the Right Customers for Strategic Advantage (2020) as well as coauthor of The Customer Centricity Playbook: Implement a Winning Strategy Driven by Customer Lifetime Value (2018). He has been on the editorial boards of several journals, including Marketing Science, the Journal of Marketing Research, and the International Journal of Research in Marketing. In addition to his academic career, Professor Fader has brought his customer-oriented expertise to the marketplace in his capacity as co-founder of the predictive analytics firm Zodiac and the customer-based corporate valuation firm Theta.
A specialist in finance and securities, Dr. Wong has managed teams supporting academic and industry affiliates in litigation matters involving securities fraud, damages, bankruptcy, suitability analysis, portfolio management, mortgage lending practices, accounting analysis, market manipulation, and financial statement analysis. He has extensive experience analyzing fixed-income instruments, structured finance instruments, and credit derivatives. Dr. Wong has worked on and provided testimony in government regulatory investigations. His recent engagements include work in legal disputes related to structured finance instruments, including residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs); securities lending; mutual funds and other commingled investment pools; corporate governance; and investment suitability claims. He has also worked on valuation, class certification, and intellectual property matters.
Dr. Wong joined Analysis Group from Chicago Partners in 2006, and has played an instrumental role in the development and growth of the firm’s Chicago practice. He is a member of the American Finance Association and has published research on bankruptcy and the financing of new firms.
Ms. Arcelus specializes in analyses of complex problems in business litigation from technology, economic, and financial perspectives. Her litigation experience includes all aspects of diverse litigation matters. Ms. Arcelus frequently works with an extensive network of experts from leading universities, as well as distinguished industry experts, to apply innovative and established techniques to her engagements.
In more than three decades at Analysis Group, she has managed high-profile litigation projects across a variety of areas, including antitrust and competition, intellectual property, data protection and privacy, technology, cybersecurity, biometric data, algorithm use, regulatory compliance, impact of misleading information technology, and contract disputes. Her work often involves leading companies in technology-intensive industries such as digital platforms, biotech, engineer systems, computer hardware, and software. Ms. Arcelus has worked on cases in the US, Canada, Latin America, and Europe.
Ms. Arcelus has also worked on securities class action cases involving institutional responsibility and investor knowledge; energy litigation projects involving contract and price disputes; labor litigation involving no-poach agreements; and health care consulting projects involving the statistical modeling of clinical outcomes, pharmacoeconomic analyses, and strategic financial analyses.
Professor Tadelis is an expert on e-commerce and the economics of the internet, industrial organization, and microeconomics, including game theory and auction theory. His work on e-commerce investigates online auctions and online bargaining, digital advertising, seller reputation and the determinants of trust, price salience, and algorithmic pricing. Professor Tadelis has also researched contract theory and design, with applications to outsourcing, privatization, strategic pricing, public and private sector procurement and award mechanisms, and strategic sourcing and pricing. He has been engaged by regulatory authorities and tech companies in a variety of investigations and litigation matters in both the US and Canada on topics such as consumer protection, pricing, and online advertising and has testified at deposition.
Professor Tadelis has a decade of experience working with online marketplaces and retailers. He served as a senior director and distinguished economist at eBay Research Labs, where he hired and led a team of economists focused on the economics of e-commerce, with particular attention to creating better matches of buyers and sellers; reducing market frictions by increasing trust and safety in eBay’s marketplace; understanding the underlying value of different advertising and marketing strategies; and exploring the market benefits of different pricing structures. He also served as vice president of economics and market design at Amazon, where he guided and supported economic analyses for business decisions across the company.
Professor Tadelis participated in the Federal Trade Commission’s 2018 hearings on “Competition and Consumer Protection in the 21st Century.” He testified on two panels: “Multi-Sided Platforms in Action” and “Nascent Competition: Is the Current Analytical Framework Sufficient?”
Professor Tadelis is the author of books on game theory and microeconomic theory, as well as a handbook chapter on two-sided e-commerce marketplaces and the future of retailing. He has published articles in and served on the editorial boards of leading economics, marketing, and management journals. He is a research associate at the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research.
Professor Riddiough is best known for his work on real options, mortgage pricing and strategy, REITs, and land use regulation. He has served as an expert in numerous real estate-related matters, in which he has testified on appraisal and the value of distressed mortgages. Professor Riddiough has consulted to numerous organizations, including the US Department of Housing and Urban Development, GMAC, Wells Fargo, Coldwell Banker Commercial, The Equitable Life Assurance Society, and the State of Wisconsin Investment Board. He has published more than 40 scholarly articles. He has served on the boards of directors of several organizations, including ArCap REIT, EquiBase Capital Partners, and the American Real Estate and Urban Economics Association. Professor Riddiough is the recipient of best dissertation and best paper awards in real estate economics, and is a fellow at the Real Estate Research Institute and a past fellow at the Homer Hoyt Institute. He teaches courses in real estate finance, real estate capital markets, and microeconomics.
Dr. Chakraborty is an economist with an extensive background in economics, finance, accounting, and valuation. She has been retained both as an expert witness and as a consultant in a number of matters involving equity and fixed income securities, valuation, solvency, fraudulent conveyance, and economic damages. Dr. Chakraborty has conducted analyses in matters involving bankruptcy, mergers and acquisitions (M&A), tax and transfer pricing, international arbitrations, fraud, and theft of trade secrets and misappropriation. Her work has involved the development of financial and economic models, the evaluation of large datasets, and the application of statistical methods to a variety of complex problems. She has worked on matters involving companies in many industries, including financial services, energy, retail, and pharmaceuticals.
Mr. FitzPatrick is a wealth management and fiduciary expert with extensive experience serving high-net-worth individuals, families, and related charitable entities. In his role at Northway Wealth Advisors, he provides guidance to trustees of personal trusts and executors of estates, and mediation and expert witness services in support of fiduciary-related dispute resolution. Mr. FitzPatrick has been recognized as a court-qualified expert in wealth management matters and has served as a testifying expert in multiple trust and estate cases. He is a columnist and author of articles published in The International Family Offices Journal and Trusts & Estates magazine. Prior to founding Northway, he held senior executive roles with Dominion Fiduciary Services, Webster Bank, BNY Mellon, J.P. Morgan, Citigroup, and Goldman Sachs, among others. Notably, he led J.P. Morgan Private Bank’s global trust and estate administration business, which managed accounts valued at more than $21 billion. Subsequently, Mr. FitzPatrick served as managing director and head of trust for Goldman Sachs, where he chartered and built both The Goldman Sachs Trust Company, N.A., and The Goldman Sachs Trust Company of Delaware, and grew combined assets under fiduciary supervision from zero to $2 billion in under four years. He then ran Citigroup’s global personal trust business, managing more than $50 billion in fiduciary accounts. He is a member of several nonprofit boards and committees and has held numerous leadership positions with industry associations and on professional and corporate boards. Mr. FitzPatrick is a registered Trust and Estate Practitioner (TEP) and a Master Certified Independent Trustee.
Mr. Jarosz is an economist and director of Analysis Group’s Washington, DC office. He specializes in matters involving intellectual property (IP), commercial damages, licensing, and antitrust. His IP work focuses on evaluating lost profits, reasonable royalties, price erosion, commercial success, licensing terms, best efforts, irreparable harm, and FRAND commitments. Mr. Jarosz has significant expertise testifying in patent, trademark, copyright, and trade secret tort and contract matters. He is also experienced in both US and international arbitration, often serving as an expert witness in matters involving IP rights.
A frequent author and lecturer on the economics of IP protection, Mr. Jarosz has participated in and given presentations at various meetings of the Sedona Conference, Intellectual Property Owners Association, Licensing Executives Society, and the Association of University Technology Managers. He has published a variety of papers in professional and practitioner journals, and he has taught classes at Georgetown University Law Center, George Washington University Law School, the University of Pennsylvania Law School and Department of Economics, Columbia Business School, and the US Patent and Trademark Office. Mr. Jarosz has been recognized for many years as among the top economic experts for IP matters by Intellectual Asset Management (IAM) in the IAM Patent 1000, which identifies leading patent professionals around the globe.
Professor Wright is an expert in accounting, public policy, and resource allocation related to petroleum. She focuses her work on international petroleum contracts, upstream oil and gas accounting, and financial reporting, as well as on the disclosure and valuation of oil and gas reserves. Her research has examined accounting issues for environmental costs and asset retirement obligations, petroleum economics and decision analysis, joint interest accounting, and the evaluation of oil and gas financial statements. Over the past two decades, Professor Wright’s expertise in petroleum economics and valuation has been called on in support of numerous litigation matters. In these engagements, she has served as a witness, filed expert reports, and provided testimony at deposition and trial. Professor Wright has authored dozens of research publications and is the coauthor of two textbooks, Fundamentals of Oil & Gas Accounting and International Petroleum Accounting. She has served on the editorial review boards of several publications, including Petroleum Accounting and Financial Management Journal and Oil, Gas & Energy Quarterly, and was a member of the International Accounting Standards Board’s extractive industries advisory committee. Professor Wright is a certified public accountant in Oklahoma.
Professor Melvin has lengthy academic and business experience in international finance – including foreign exchange market microstructure – and multi-asset investment strategies. His current research focuses on currency carry trades, currency transaction costs, and exchange rate models. Professor Melvin has published widely on topics that include exchange rates, currency investing, and international equity markets. Previous faculty appointments have included Arizona State University’s W.P. Carey School of Business; the Haas School of Business at the University of California, Berkeley; the University of California, Los Angeles; and Northwestern University.
In addition to his academic achievements, Professor Melvin has deep in-house experience in the finance industry. Before joining the Rady School, he was managing director and senior research advisor in multi-asset strategies at BlackRock. He also served as the head of currency and fixed-income research in the Global Market Strategies Group at BlackRock and Barclays Global Investors. Professor Melvin is former coeditor of the Journal of International Money and Finance, and he has been a visiting scholar at the Federal Reserve Board, the International Monetary Fund, and the Bank for International Settlements.
Dr. Wu is a health economist with expertise in health economics and outcomes research (HEOR), market access, and scientific evidence strategy. He has conducted research in more than 30 countries on behalf of pharmaceutical and medical device companies, payers, providers, and government agencies. Dr. Wu has contributed to over 200 publications across dozens of therapeutic areas, including regenerative therapies (gene and stem cell), rare and ultra-rare diseases, biologics, and immuno-oncology.
Dr. Wu spends a significant portion of his practice developing new scientific methods to address challenges in health care research. He has developed client-focused solutions based on the use of artificial intelligence (AI), medical big data, real-world evidence, and innovative comparative-effectiveness research methodologies.
Professor Thurman is an expert in agricultural markets and regulation. He has consulted on a wide variety of topics related to agriculture, including competition in agricultural markets, international trade in agricultural commodities, the behavior of agricultural futures markets, the proper use of econometric methods, damages assessments, the role of agricultural cooperatives, and the estimation of cost pass-through to indirect purchasers. As an expert witness, Professor Thurman has testified at deposition and in federal and state court proceedings. He has published widely on agricultural and natural resource subjects, including grower compensation in the poultry industry, food safety regulation in the egg industry, the effects of supply control programs for peanuts and tobacco, honeybee pollination markets and colony collapse disorder, the performance of lumber futures markets, and the costs of the Clean Water and Clean Air Acts. At North Carolina State University, Professor Thurman taught graduate and undergraduate courses in econometrics, microeconomics, and agricultural markets. He is the recipient of numerous research and teaching awards and fellowships, including the Agricultural & Applied Economics Association’s (AAEA’s) Publication of Enduring Quality and Outstanding Graduate Instructor Awards. Professor Thurman is a past editor of the American Journal of Agricultural Economics, an elected fellow of the AAEA, and a senior fellow of the Property and Environment Research Center in Bozeman, Montana.
Professor Schoar is an expert in corporate finance, entrepreneurship, and organizational economics. Her research examines returns and capital flows in the venture capital industry, the financing of small- and medium-sized enterprises and startup firms in emerging markets, and the impact of corporate governance practices on firm performance. Professor Schoar has served as an expert witness in cases involving commercial litigation and financial services. She is co-chair of the Corporate Finance Program at the National Bureau of Economic Research and co-founder and scientific director of ideas42, a research lab on behavioral social science. She has published numerous articles and papers and received several awards for her research, including the Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship, and the Brattle Group Prize in Corporate Finance for her paper “The Effects of Corporate Diversification on Productivity.” She is the executive editor of The Journal of Finance and previously served as an associate editor of the American Economic Journal: Applied Economics, the Journal of Economic Perspectives, and the Journal of Financial Intermediation. Professor Schoar’s work has been featured in The Economist, the Financial Times, The New York Times, and The Wall Street Journal.
Mr. Yeater specializes in applying financial and economic analyses to complex business litigation and regulatory matters involving antitrust concerns, intellectual property claims, and other commercial disputes. Mr. Yeater serves as an expert witness and consults to clients in non-testifying roles. In more than 20 years as an economic consultant, he has led large, high-profile engagements supporting multiple experts in a variety of industries, including digital and traditional media, sports and entertainment, retail consumer goods, high-tech consumer products, pharmaceuticals, chemicals, agriculture, education, and financial services.
Mr. Yeater applies his expertise to analyze competition and substitution patterns, define relevant markets, and evaluate potential competitive effects and counterfactual outcomes in merger and competition investigations and antitrust litigation. He has served as a testifying economist concerning the analysis of merger efficiencies and procompetitive effects of conduct. Mr. Yeater has also evaluated competition, pricing, output and efficiencies, and procompetitive benefits in connection with merger and behavioral investigations in the US, Australia, Korea, the UK, and the EU. He has supported merging parties and the Federal Trade Commission (FTC) in a variety of merger investigations. In other litigation matters, Mr. Yeater has applied his expertise in financial and economic concepts to the analysis of damages, and has provided assistance throughout all phases of pretrial and trial practice.
Mr. Yeater serves as a vice chair to the American Bar Association (ABA) Antitrust Law Section’s Podcasting Committee, producing and hosting episodes of the committee’s Our Curious Amalgam podcast. Previously, he was a vice chair of the Food and Agriculture Committee. He publishes and presents regularly on topics relevant to his expertise, including the economic analysis of competition, the calculation of damages in antitrust and other cases, and class certification.
Mr. Jetley specializes in mergers and acquisitions (M&A), valuation of derivative instruments, securities valuation, corporate finance, and risk management. He has worked on several transaction-related matters that involved the analysis of target valuations, sales processes, disclosures made by bidders and targets, and other deal terms. His securities valuation experience includes analyzing the impact of selected disclosures on the stock price of large corporations across a variety of industries, including technology, electric utilities, office equipment, biotechnology, real estate investment trusts (REITs), and health care providers. Mr. Jetley has also worked on several matters involving the valuation of equity, fixed-income, foreign exchange, and mortgage-backed derivative securities. He frequently publishes and presents on topics involving M&A, securities, financial analysis, and commercial damages.
Professor Meyer specializes in software engineering and the construction of complex reliable systems. His research interests run from the technical (such as software verification, programming languages, and concurrent programming) to the managerial (including large project organizations, agile methods, quality assurance, and troubled-project rescue). Professor Meyer has served as an expert witness in technology-related cases before the US International Trade Commission (ITC), the European Commission (EC), and the International Chamber of Commerce. These include a patent litigation case between Nokia and Apple before the ITC, and a Microsoft antitrust case before the EC. He has consulted to companies in the US, Japan, and Europe. A pioneer of object technology – a now-dominant approach to software design and programming – Professor Meyer designed the Eiffel programming language and established the “design by contract” (DbC) programming concept. Professor Meyer has published over 300 articles and 12 books, many widely translated, on software issues and techniques. His awards include the IEEE Computer Society’s Harlan D. Mills Award and the Association for Computing Machinery (ACM) Software System Award; he is a member of Academia Europaea, and a fellow of the International Federation for Information Processing (IFIP) as well as the ACM. After co-founding Eiffel Software, he was a professor of software engineering and chairman of the Department of Computer Science at ETH Zürich. In addition to his current role at the Schaffhausen Institute of Technology in Switzerland, Professor Meyer holds associated positions with Politecnico di Milano, the University of Toulouse, and Russia’s Innopolis University. He speaks English, French, Russian, German, and Italian.
Dr. Chawla has more than 25 years of experience as an economist in the health care sector. Since joining Analysis Group in 2007, she has helped global biopharmaceutical, diagnostic, and medical device manufacturers - as well as development-stage companies - address product development and commercialization objectives, particularly as they relate to market access. Her work has spanned a wide range of therapeutic areas, including multiple indications in oncology. Her recent client work includes landscape assessments, economic modeling, and strategic plans to inform evidence generation in the context of product development and market access launch strategy; forecasts to help prioritize research and support licensing and venture funding discussions; payer research and advisory boards; and launch materials that communicate a product's clinical and economic value to support evidence-based reviews. Dr. Chawla recently led an engagement comprising a fully integrated market access strategy and related tactics to support the launch of a novel drug to treat an orphan disease.
Dr. Chawla's recent publications include an assessment of the impact of regulatory requirements for cardiovascular risk evaluation for diabetes therapies. She has served as a reviewer or referee for several journals, including Value in Health, Health Affairs, Health Services Research, Journal of the American Medical Association, and Journal of Business and Economic Statistics. Prior to joining Analysis Group, she was head of the health economics and outcomes research department at Genentech, Inc., where she also supported the oncology franchise.
Professor Toubia has marketing expertise in the areas of innovation and new product development, with a specific emphasis on market research, behavioral economics, preference measurement, and customer choice models. He focuses his research primarily on studying how firms can optimize their interactions with customers. For example, he has used polyhedral adaptive choice-based conjoint analysis to develop marketing strategy and assessed the comparative value of promotional efforts launched through online social communities versus traditional direct-mail campaigns. Professor Toubia has conducted numerous surveys for litigation – including conjoint studies – involving smartphones, set-top boxes, consumer packaged goods, medical equipment, and perceptions of employment status. He has also been deposed and testified at an arbitration matter.
Professor Toubia worked with Applied Marketing Science on the development of IDEALYST®, an online idea generation and group brainstorming tool that has been used by numerous corporations to enhance output and creativity through the use of incentives. His research has been honored with three John D.C. Little Best Paper Awards and published in a variety of marketing outlets. Among other journal affiliations, Professor Toubia is coeditor of Quantitative Marketing and Economics, associate editor of Management Science and Marketing Science, and a member of the editorial boards of International Journal of Research in Marketing and Journal of Marketing Research.
Professor Wruck's research and teaching are in the fields of financial and organizational economics, with special emphasis on corporate finance, restructuring, financial distress, governance, and management compensation. She has served as an academic director of the Financial Management Association and the Turnaround Management Association, consulted to major corporations, and has worked on a number of high-profile corporate litigation projects as a subject matter expert. Professor Wruck has published numerous articles in leading academic journals, and her work and opinions have been highlighted in several business periodicals. In addition to refereeing for several industry journals, she serves as an advisory editor for the Social Sciences Research Network (SSRN) and the Organizations and Markets Electronic Journal. She is also a former associate editor of the Journal of Financial Economics, the Journal of Corporate Finance, The Journal of Financial Research, and European Financial Management. Professor Wruck’s honors include Ohio State's Mary Ann Williams Award, which recognizes a woman exhibiting extraordinary leadership, and Fisher's Bostick-Georges Pacesetter Service Award, which recognizes exceptional leadership and service to the College of Business. In addition, she has on multiple occasions been selected as outstanding professor by Ohio State's full-time and executive M.B.A. programs. Prior to her appointment at Ohio State, Professor Wruck served on the faculty of the Harvard Business School.
Professor Snyder is an industrial organization economist whose research focuses on antitrust policy and enforcement, contracting practices, financial institutions, and law and economics. He has consulted on and served as a testifying expert in numerous high-profile cases, opining on liability, damages, proposed mergers, price-fixing allegations, Hatch-Waxman claims involving pharmaceuticals, monopolization claims, and proposed class certifications of both direct and indirect purchasers. In addition, Professor Snyder has testified before combined US Federal Trade Commission (FTC) and US Department of Justice (DOJ) hearings on competition and intellectual property, and has presented separately before the DOJ’s Antitrust Division, where he worked as an economist earlier in his career, and the FTC. He has been a signatory to amicus briefs submitted to the Supreme Court on various price-fixing and Sherman Act issues.
Professor Snyder has written extensively on topics related to antitrust and policy issues, with his articles appearing in prestigious publications such as The Journal of Law and Economics, the Journal of Comparative Economics, The Antitrust Bulletin, and Contemporary Policy Issues. His work has also been featured in major media outlets, including the Financial Times, The Wall Street Journal, and The New York Times.
Professor Snyder also served as the dean of the Yale School of Management from 2011 to 2019, during which time he enhanced the school’s academic programs and financial standing, and established new master’s programs in the areas of management, entrepreneurship, and executive education. He also founded the Global Network for Advanced Management at Yale University, an international consortium of schools devoted to teaching tomorrow’s business leaders around the world. Prior to joining Yale, Professor Snyder was the dean of the business schools of The University of Chicago, the University of Virginia, and the University of Michigan.
Mr. Ji specializes in the application of economics and finance to litigation matters in the areas of mergers and acquisitions (M&A), valuation, financial instruments, and tax. He has significant experience supporting academic and industry experts, as well as providing consulting assistance to clients. Mr. Ji has examined all aspects of M&A, including bid premiums, public and private benefits of control, deal terms, sales mechanisms, negotiation processes, shareholder activism, merger arbitrage, advisor fees, material adverse event (MAE) and material adverse change (MAC) provisions, and consequences of breaching non-disclosure or standstill agreements. His valuation experience includes analyzing real estate, telecommunications, energy, public transportation, medical devices, and banking and brokerage companies and assets. In the bankruptcy area, he applies his valuation skills to solvency and fraudulent conveyance analyses. Mr. Ji has managed case teams in matters involving various types of financial instruments and markets, including foreign currencies, auction-rate securities, precious metals, and fixed-income derivatives. In securities litigation matters, he has assisted counsel and experts throughout all stages, including class certification, merit, mediation, and settlement negotiation, and has addressed issues such as price impact, loss causation, damages methodology, materiality, and falsity. He has also assessed the economic substance and structure of various complex tax shelter transactions. Mr. Ji’s research papers have been published in the Financial Analysts Journal and The Business Lawyer.
Professor Fox’s research focuses on retail pricing, promotion, and assortment management, as well as the quantitative modeling of consumer shopping behavior to address retail competition and marketing channel issues. He frequently estimates models using customer-level data to identify the drivers of shopping behavior and to make shopping and spending predictions, which can then be used by retail decision makers to improve store performance. Professor Fox has consulted to retailers and other companies on marketing management, strategy, and quantitative decision making. His clients have included ACME Markets, Genuardi’s Family Markets, Softspikes, Arcis Golf, and Reliant Rehabilitation. He has also filed an expert report on behalf of the Federal Trade Commission in a retail antitrust case. Professor Fox’s research has addressed topics such as dynamic pricing, demand estimation using transaction data, competitive issues in retailing, consumer spending behavior across retail formats, and recapturing lost customers. His articles have been published in journals such as Marketing Science, the Journal of Marketing Research, the Journal of Marketing, Management Science, Operations Research, and the Journal of Retailing. He is frequently quoted in the media on retail marketing and consumer buying behavior, and he has spoken at numerous retail industry conferences and trade association meetings.
Professor Anderson conducts research on the design of cost accounting systems and on how firms use management control practices to mitigate risk and facilitate collaboration in inter-firm transactions. This research includes performance measurement, incentive contracting, supply chain contracting, and operations management. Professor Anderson uses empirical analysis of firm-level accounting and operational data to test economic theories about firm performance. She also has experience designing and administering surveys and analyzing survey data. Her published work has employed data from many industries including automotive, electronics manufacture, office furniture manufacture, commercial airlines, consumer retail, coal extraction, transportation, and warehousing and distribution.
Professor Anderson co-authored the award-winning book Implementing Management Innovations and the textbook Fundamentals of Cost Accounting (now in its 5th edition). Her research has been published in leading research journals including The Accounting Review, Management Science, and Contemporary Accounting Research. She has been recognized with the American Accounting Association's Notable Contribution Award (2006) and with the American Accounting Association's Management Accounting Section's Notable Contribution to the Literature Award (2003, 2006, 2012) and the Greatest Influence on Practice Award (2010). Professor Anderson's research has been funded by competitive grants from the AICPA, the Institute of Internal Auditors, the Institute of Management Accountants, the National Science Foundation, and the Australian Research Council.
Professor Anderson has previously held faculty positions at the University of Michigan and Rice University. She has also held visiting faculty appointments at Harvard Business School and the University of Melbourne. Earlier in her career, she worked as an engineer for General Motors Corporation.
Mr. Trautman leads the media and entertainment practice of Bortz Media & Sports Group, with more than 30 years of experience and an analytical focus on all aspects of media – including video programming, industry, firm- and product-level performance and prospects, market forecasting and trends, and audience behavior. He has provided both consulting and expert witness services to a wide range of corporations, including Comcast, Discovery Communications, Disney/ESPN, Gannett, Major League Baseball, and TiVo. He has also submitted testimony before the US Copyright Royalty Judges, the Canadian Copyright Royalty Board, and the Federal Communications Commission. Mr. Trautman’s testimony has covered industry and business strategies and trends; valuation in relation to programming and other media assets; and market analysis of media industries. His consulting assignments have focused on business strategies, competitive assessments, and market research, as well as the ways in which media technologies and consumer behavior intersect. Mr. Trautman is the author of Unleashing Connectivity and Entertainment in America: A Study of the Cable Industry’s Impact and Public Television’s Transition to a Digital Future, as well as other writings on television and digital broadcasting.
Ms. Comstock has extensive experience applying economic and financial analyses to litigation and other complex business situations. She has assisted clients in all phases of the litigation process, including fact and expert discovery, trial preparation, and settlement negotiations. Ms. Comstock’s case work has involved litigation related to the high-profile bankruptcies of several firms. She has provided consulting support and supported experts in cases related to the alleged manipulation of different benchmark rates, including evaluations of the effects of alleged manipulation on the value of different derivatives and securities. She has also provided consulting and expert support in matters involving alleged violations of Rule 10b-5 and Section 11, and on matters related to mortgage-backed securities. Ms. Comstock has supported experts in ERISA-related litigations, alleged breach of contract matters, and other business and valuation disputes.
Mr. Yenikomshian specializes in technology, data analysis, and economic modeling, and has consulted on technical, economic, and strategic issues to companies in a variety of industries, including computer software and technology, cybersecurity, blockchain and cryptocurrency, pharmaceuticals, and medical insurance. He has extensive experience analyzing technical issues, such as those relating to software and internet technologies, and translating them to a lay audience. Mr. Yenikomshian has analyzed the flows of data from user devices to third-party service providers such as analytics and advertising companies. He testified on behalf of the US Department of Justice in its criminal indictment of Jitesh Thakkar, who allegedly designed and sold a software program that assisted a commodities trader who was engaged in spoofing. In this matter, Mr. Yenikomshian’s role was to determine whether the software program that Thakkar produced operated the way that the trader’s requirements document had specified. He provided a detailed demonstration of how the requirements for the order types were translated into a software program by walking the court through the actual lines of code that implemented the requirements. Mr. Yenikomshian has also conducted numerous other software code reviews in a range of matters. In addition, he has developed interactive software tools to help clients make strategic decisions. Mr. Yenikomshian is a member of the American Bar Association and serves as co-chair of its Biotechnology, Healthcare Technology, and Medical Devices Committee. Previously, he served as co-chair of its Big Data Committee and Data Science Working Group, as well as vice chair of its Artificial Intelligence and Robotics Committee. Prior to joining Analysis Group, Mr. Yenikomshian was a partner in a software development and staffing technology firm.
Paul E. Greenberg, Director of Analysis Group’s Health Care Practice, consults to pharmaceutical, biotechnology, and medical device companies in complex business litigation matters. Mr. Greenberg’s litigation experience has included performing economic and statistical analyses in support of testifying experts, as well as presenting findings to investigators from US Attorneys’ Offices and the Office of the Inspector General in numerous cases in which violations of the False Claims Act and/or the Anti-Kickback Statute have been alleged. Mr. Greenberg has provided economic consulting support in connection with class certification, liability, and damages in cases involving allegations of product failure, product fraud, antitrust, and/or patent infringement in the biopharmaceutical industry. He has provided strategic assistance to counsel at various key points in litigation, including pretrial discovery, settlement negotiations, and trial preparation. In the area of health economics and outcomes research (HEOR), Mr. Greenberg has undertaken cost-of-illness studies relating to numerous psychiatric and physical disorders, as well as pharmacoeconomic assessments of the cost-effectiveness of drugs based on data gathered in clinical trials and/or administrative claims files. Mr. Greenberg’s work in HEOR has been widely published in leading medical and health economics journals. He currently serves on the editorial boards of PharmacoEconomics, the Journal of Medical Economics, and Expert Opinion on Pharmacotherapy, and he previously served on the editorial boards of Law360’s Life Sciences and Health Care electronic newsletters.
Ms. Mills is an expert in US and international accounting and financial reporting issues, with over 30 years’ experience in the financial services industry. As the founder and president of Accounting Policy Plus, she has a deep knowledge of accounting issues in complex transactions and a strong track record of developing, implementing, and applying new accounting policies. Ms. Mills also has an extensive record as an expert witness, and has testified and filed expert reports on issues that include hedge accounting, structured transactions, securitizations, variable-interest entities, repurchase agreements, and the valuation of a complex portfolio of derivatives.
Prior to founding Accounting Policy Plus, Ms. Mills was a managing director at Morgan Stanley, where she oversaw the financial reporting and accounting policy departments. In that role, she spearheaded major policy implementation initiatives and met regularly with senior policymakers at the US Securities and Exchange Commission (SEC), the Federal Reserve System, the US Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). Ms. Mills also advised business units on structuring trades, oversaw SEC reporting and accounting compliance, and developed comprehensive training in generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for all finance personnel. She held a similar role at Merrill Lynch, where she also implemented a Sarbanes-Oxley governance framework and designed internal control requirements. Ms. Mills is a certified public accountant (CPA).
Professor Denis’s research examines corporate governance, corporate financial policies, corporate organizational structure, corporate valuation, and entrepreneurial finance. He has taught courses on corporate financial management, venture capital, and investment banking in M.B.A., Ph.D., and executive education programs. He has also consulted extensively to private companies, law firms, and government agencies on various aspects of financial markets and securities, including bankruptcy reorganization, payout policy, credit ratings, corporate restructuring, stock prices, corporate valuation, corporate governance, capital acquisition, executive compensation, mortgage-backed securities, and collateralized mortgage obligations. Professor Denis has published more than 50 articles in leading peer-reviewed journals, and coedited a book on corporate restructuring. He has served in editorial roles for a number of journals, including The Journal of Finance, The Review of Financial Studies, The Journal of Financial Research, the Journal of Corporate Finance, and Annals of Finance. He is a past president of the Financial Management Association International.
Dr. Ugone specializes in the application of economic principles to complex business disputes and is experienced in economic and damages-related analyses. He has provided financial and economic consulting services in cases involving antitrust, breach of contract, class certification, intellectual property, professional negligence, and securities-related issues. Dr. Ugone has frequently evaluated lost profits and valuation-related issues using large databases and complex computer models.
Dr. Ugone has constructed or evaluated damages models that have included such components as lost sales analyses, incremental cost analyses, assessments of profitability, assessments of the capacity to produce additional units, the competitive business environment in which a damage claim is made, claimed lost business value, and claimed reasonable royalties. He has performed economic liability analyses in antitrust matters including defining relevant markets, assessing market power, and evaluating alleged anticompetitive behavior. In consumer product class action matters, Dr. Ugone has addressed economic- and damages-related issues relating to classwide proof of claimed economic harm and price premium claims, including analyses of demand drivers affecting consumer purchase decisions and product pricing patterns observed at wholesale and retail levels. With respect to patent infringement matters, he has performed lost profits-related and reasonable royalty-related analyses.
Dr. Ugone has testified at trial and in deposition approximately 600 times.
Ms. Pinheiro has an extensive background in quantitative analysis and data science, which she has applied to various practice areas, including finance, intellectual property, biostatistics, and antitrust. In finance, she focuses on cases involving allegations of market price manipulation, misleading communications, excessive mutual fund fees, and mortgage-backed securities litigation. In particular, she has been retained by the US Department of Justice, regulatory agencies, banking institutions, and market exchanges to consult, advise, and testify on matters involving allegations of spoofing and price manipulation, as well as corresponding detection approaches. She has also applied survey analysis and statistical modeling to various intellectual property cases, including patent disputes among smartphone manufacturers, copyright tariff setting for musical works, and patent infringement in the pharmaceutical industry. She has extensive experience analyzing clinical trial, registry, and insurance claims data for both litigation and research purposes and has published manuscripts on pharmacoeconomic issues. In the antitrust field, she has acted as an expert and supported other experts in class certification and price-fixing matters involving a wide range of industries, including online search engines, computer chips, liquid-crystal display (LCD) panels, airline ticketing services, gaming, and grocery stores. Ms. Pinheiro has also authored expert reports and testified on questions relating to the modeling and calculation of royalties and damages.
Prior to joining Analysis Group, Ms. Pinheiro served as executive director of the finance group of CIRANO, where she conducted applied research projects in collaboration with private and public partners, including work on hedge funds, style analysis, credit and operational risk, and the development of integrated risk management tools for practical applications.
Professor Stavins is a leading expert in environmental and natural resource economics. He has consulted to public, private, and governmental organizations, and has served as an expert in dozens of matters.
In his energy-related work, Professor Stavins focuses on domestic and international climate policy; design and implementation of market-based policy instruments (e.g., tradable permits); the competitive effects of regulation; assessment of environmental regulation costs; and environmental benefit valuations. His natural resource work focuses on water, agriculture, and forestry. He is actively involved in advising public officials and government agencies on environmental policy. Professor Stavins was a member of the Energy and Environmental Markets Advisory Committee at the US Commodity Futures Trading Commission, and is a former chairman of the Environmental Economics Advisory Committee of the US Environmental Protection Agency’s Science Advisory Board. He has consulted to several presidential administrations, the US Congress, the US Agency for International Development, the World Bank, the United Nations, the National Academy of Sciences, state and national governments, environmental advocacy groups, private foundations, trade associations, and corporations.
Professor Stavins has over 30 years of teaching experience and holds numerous academic positions at Harvard, including as director of graduate studies for the Ph.D. program in public policy and Ph.D. program in political economy and government, and as co-chair of the Harvard Business School/Harvard Kennedy School joint degree program. His research on environmental, natural resource, and energy economics has appeared in over 100 articles in academic journals and popular periodicals, as well as in more than a dozen books.
Professor Desai has more than two decades of experience in tax policy, international finance, and corporate finance. His research has focused on the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. Professor Desai has consulted to companies and organizations on tax- and finance-related topics, and he has testified several times before the US Congress, including in a joint session of the Senate Finance Committee and the House Ways and Means Committee. His research has appeared in leading economics, finance, and law journals, and has been cited in media outlets such as The Economist, Businessweek, and The New York Times. His book The Wisdom of Finance was longlisted for the Financial Times and McKinsey Business Book of the Year Award. Professor Desai has also published on international tax issues such as the costs of shared ownership, with a focus on international joint ventures. He is a research associate in the National Bureau of Economic Research’s (NBER’s) Public Economics and Corporate Finance programs, and previously served as co-director of the NBER’s India program. He is also on the advisory boards of the International Tax Policy Forum and the Oxford University Centre for Business Taxation. Earlier in his career, Professor Desai was an analyst at CS First Boston.
Mr. Gustafson applies his expertise in economics, econometrics, and modeling to litigation, complex business issues, and the analysis of public policy issues. He has worked extensively in the areas of health care, insurance, employment, data privacy, ERISA, finance, intellectual property (IP), commercial damages, and class certification.
In his litigation work, Mr. Gustafson has provided deposition, arbitration, and trial testimony related to the economics of identity theft, physician compensation, the reasonable value of medical services, retirement benefits, employment compensation, lost earning capacity, and commercial damages, and he has critiqued plaintiffs’ proposed damages formulas in several class actions. His case work has involved evaluating claims of excessive investment fees in corporate 401(k) defined contribution plans, assessing the reasonable value of medical services for physicians and hospitals, analyzing health insurance claims to identify instances of alleged fraud and inappropriate billing by hospital providers, and auditing risk-pool reconciliations that set the level of at-risk payments to a hospital group and its physician partners. He has worked on several privacy-related class actions, providing testimony related to the economics of identity theft and damages, as well as supporting privacy, damages, survey, and technical experts.
Mr. Gustafson has worked with clients to perform affirmative pay equity studies and develop methodologies to address identified disparities. He has explored economic issues associated with a wide range of insurance products, including disability, health, life, product liability, and property insurance, as well as variable annuities. Mr. Gustafson also has experience in a variety of ERISA matters, including those related to health care plans, benefits, and insurance claims. Additionally, he has extensive experience assembling and analyzing large, proprietary datasets common in pay equity, insurance, and health care engagements. Prior to joining Analysis Group, Mr. Gustafson was the business manager in Tokyo for an international nonprofit. He also taught economics as a course assistant at the Harvard Kennedy School.
Professor Mizik is an expert in marketing strategy, valuation of intangibles, earnings management, and executive compensation in a range of industries, including health care. Her research centers on examining the consequences of marketing strategies and activities on financial performance, developing new metrics for marketing assets, and building empirical models to assess the value of intangible marketing assets. Professor Mizik has developed econometric analyses of sales, examined issues related to brand valuation, and researched evidence of real activity and accounting manipulations to artificially inflate reported earnings. She has served as an expert witness for a major pharmaceutical company in a false advertising case. Professor Mizik has published articles in a number of academic marketing and management journals. Prior to joining the Foster School, she served on the faculties of Columbia Business School and the University of North Carolina at Chapel Hill, and as a visiting professor at the MIT Sloan School of Management. She is a past member of the American Marketing Association Academic Council and has served as treasurer of the INFORMS (Institute for Operations Research and the Management Sciences) Society for Marketing Science.
Professor Hubbard is a leading expert in public economics, corporate and institutional finance, macroeconomics, antitrust, and industrial organization. He has provided trial and deposition testimony in numerous litigation matters, including more than a dozen cases in the Delaware Chancery Court. He has also served as a testifying expert in several high-profile finance- and securities-related cases, as well as on damages issues in antitrust matters. Professor Hubbard has consulted to several government and international agencies, including the US Department of the Treasury, the US International Trade Commission, the US Securities and Exchange Commission, the World Bank, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Congressional Budget Office. From 2001 to 2003, he served as chairman of the President’s Council of Economic Advisers.
Professor Hubbard has published more than 100 scholarly articles and coauthored several books, including the widely used textbook Money, the Financial System, and the Economy. His commentaries have appeared in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, and The Washington Post, as well as on PBS television and NPR radio business programs. A frequent speaker, Professor Hubbard has presented his research at economic conferences throughout the world.
Ms. Resch has extensive experience consulting on finance, financial economics, and accounting issues in complex litigations and arbitrations, with a particular focus on international arbitration. She is a testifying expert, specializing in the quantification of economic damages in both international arbitration and litigation. Ms. Resch has advised on valuation issues such as cost of capital and valuation discounts and premia. Her damages and valuation work has spanned disputes over complex financial instruments; oil and gas contracts; government expropriation matters; and shareholder disputes throughout the UK, Russia, Central Asia, and South America in both commercial arbitration and investment treaty arbitration. She has also consulted on state aid proceedings in the banking industry and provided damages assessments in litigation matters before the UK High Court of Justice. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.
Throughout his more than 40-year career, Professor Longstaff has developed a deep knowledge of all aspects of financial valuation. He is known for developing the Longstaff-Schwartz model, a multi-factor short-rate model; and the Longstaff-Schwartz method for valuing American options by Monte Carlo simulation. These valuation models have been used widely on Wall Street and throughout the global financial markets. He regularly consults to financial institutions, including mutual funds, hedge funds, and commercial banks, as well as to risk management firms. Professor Longstaff has taught at UCLA since 1993, and his research includes fixed income markets and term structure theory, derivative markets and valuation theory, credit risk, computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets. Earlier in his career, he served as the head of fixed-income derivative research at Salomon Brothers, Inc., in the research department of the Chicago Board of Trade, and as a management consultant for Deloitte Haskins & Sells. Professor Longstaff has published more than 70 articles in academic journals, including The Journal of Finance, American Economic Review, and the Journal of Financial Economics. He is a certified public accountant and a CFA charterholder.
Dr. Van Audenrode is an expert in data analysis and econometrics, labor economics, antitrust and competition policy, and public economics. He has consulted to clients - including law firms and government agencies - in Canada, the US, and Europe. Dr. Van Audenrode’s work includes developing a methodology to value desktop software; he also developed expertise valuing goods as varied as restaurant franchises, executive stock options, or smartphone features. His recent work in public economics includes evaluating the economic rent from hydroelectricity to the Canadian economy and the value of logging rights on the ancestral territory of a Canadian First Nation. In the area of labor economics, his work has included filing an expert report assessing fair compensation for Quebec provincial judges and Quebec prosecutors and advising Quebec’s commission on pay equity. Dr. Van Audenrode has filed expert reports in courts in the US, Canada, Belgium, Germany, France, and the Netherlands, and has testified in Canada and the US. He recently filed a report with the Amsterdam Court of Appeal in support of the settlement reached between Ageas and claimant organizations in the Fortis case, the largest settlement ever reached through the Dutch Collective Settlement Act (WCAM). Dr. Van Audenrode’s scientific research and articles have been published in numerous peer-reviewed academic journals and trade journals. He is a coauthor of the book The Mutual Fund Industry: Competition and Investor Welfare, and is a frequent presenter at industry and academic conferences.
*Marc Van Audenrode srl
Professor Steckel's primary research areas include marketing and branding strategy, marketing research, direct marketing, consumer response to marketing strategy, and management decision making. Professor Steckel has consulted, testified as an expert witness, and conducted modeling and analysis in numerous cases involving antitrust, damages assessment, trademarks, marketing and branding strategy, forecasting, and the statistical analyses of market response. He has analyzed industries including telecommunications, consumer products, financial services, pharmaceuticals, apparel, retail, and health care. He was the founding president of the INFORMS Society for Marketing Science, served six years as the chair of NYU Stern School's marketing department, and is currently the vice dean of the Ph.D. programs at NYU Stern.
Professor Steckel also has published numerous articles in such peer-reviewed journals as the Journal of Marketing Research, the Journal of Retailing, Marketing Science, Interfaces, and the Journal of Consumer Research.
Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 30 years of experience applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for merger review, regulatory investigations, and large private litigations. Working with affiliate David Dranove on behalf of the US Department of Justice, she led the case team that successfully challenged the proposed merger of Anthem and Cigna. She has managed economic analyses related to antitrust issues in more than 100 matters during her career, including numerous government, competitor, and consumer matters on behalf of MasterCard over more than two decades, and on behalf of Microsoft during a similar period. Ms. Samuelson has also provided analysis of issues of class certification, liability, and damages in a broad set of technology- and financial services-related cases, and has analyzed economic issues related to government investigations and mergers involving companies in technology and health care. She has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.
A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented before a number of legal audiences and at leading academic institutions, including the American Bar Association (ABA)’s Antitrust Section Annual Spring Meeting, the New York State Bar Association (NYSBA)’s Annual Antitrust Law Section Meeting, the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management. She has also participated in numerous legal and economic conferences and seminars. In one representative example, Ms. Samuelson moderated a panel at the US Federal Trade Commission and US Department of Justice joint public workshop on most-favored nation clauses, and subsequently coauthored an article on the program in the ABA Antitrust Section Joint Conduct Committee’s newsletter. Ms. Samuelson was named as one of Global Competition Review’s Women in Antitrust 2016, and she is frequently included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. She has served as a vice chair of the ABA’s Trial Practice Committee of Antitrust Law.
In addition to her economic consulting work, Ms. Samuelson serves as CEO and Chairman of Analysis Group, one of the largest economic consulting firms in the United States. She previously served as President and CEO (beginning in 2004), and prior to that as co-CEO (beginning in 1998). Since joining Analysis Group in 1992, Ms. Samuelson has played a key role in the company’s growth and diversification and has brought significant new clients, academic affiliates, and professional staff to the firm. Under her guidance, Analysis Group has been named (by Vault) as one of the top 50 consulting firms in the US for several years running. In Massachusetts, the firm has been consistently named in the annual Top Places to Work ranking by The Boston Globe, and the Top 100 Women-Led Businesses in Massachusetts listing by the Commonwealth Institute and Boston Globe Magazine. Ms. Samuelson is also the chair of the Boston Medical Center Hospital Board of Trustees.
Professor Jena is a health economist, practicing internal medicine physician, and professor of health care policy. His work involves several areas of health economics and policy, including the economics of medical innovation, the economics of physician behavior and the physician workforce, medical malpractice, and the economics of health care productivity. Professor Jena has been retained as an expert in several pharmaceutical and health care industry matters.
A prolific author, Professor Jena is the coauthor of the book Random Acts of Medicine, and he has contributed to more than 150 peer-reviewed articles and articles intended to increase patient understanding, published in outlets including The New England Journal of Medicine and The New York Times. He is a faculty research fellow at the National Bureau of Economic Research and serves on Harvard Medical School’s Standing Committee on Health Policy. Professor Jena is a recipient of the NIH Director’s Early Independence Award to fund research on the physician determinants of health care spending, quality, and patient outcomes, and a recipient of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) New Investigator Award. In 2018, he was listed among 100 great leaders in health care by Becker’s Hospital Review.
Dr. Heavner has consulted on a wide variety of litigation topics, including ERISA, securities, and antitrust, and he has analyzed issues related to class certification, liability, and damages. Dr. Heavner’s ERISA casework includes dozens of litigations, including at least six cases in which Analysis Group clients have prevailed at trial. He has written and presented on a variety of topics related to investments and retirement plans. His publications in this area include “Expert Analysis of Plan Losses in ERISA Class Action Litigation” (published in BNA Pension & Benefits Daily).
Dr. Heavner’s securities litigation experience includes directing the support of expert witnesses retained on behalf of mutual fund advisors in many of the largest mutual fund excessive fee actions ever filed, including four such cases that culminated in trial victories for our clients. His other finance and securities casework includes cases involving allegations of securities fraud, imprudent asset management, and investment suitability. In Florida State Board of Administration v. Alliance Capital Management, Dr. Heavner directed the support of expert witnesses retained on behalf of Alliance Capital. This case culminated in a trial in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund. The National Law Journal declared the verdict one of the top ten defense wins of the year.
Dr. Heavner’s antitrust experience includes matters involving allegations of collusion (including alleged concerted refusals to deal), anticompetitive vertical restraints of trade, predatory pricing, illegal price discrimination, mergers, and standards setting. He has earned Accredited Investment Fiduciary® designation and has been a member of the Analysis Group 401(k) Committee since 2009. He formerly taught economics and finance at Tulane University’s A.B. Freeman School of Business.
Mr. Yackira is an expert on business strategy, and on corporate finance and development in the energy sector. He is a former executive with experience developing operating strategies for company transformation, and he has served on the boards of several public companies. Mr. Yackira was one of three independent directors as well as chair of the audit committee at 8point3 Energy Partners, a publicly traded “yieldco” formed by First Solar and SunPower. Previously, he was the CEO and CFO of NV Energy. During Mr. Yackira’s tenure, the company’s assets grew from approximately $7 billion to $12 billion over the course of 10 years, primarily from investments in electric power plants and increased company-owned generating capacity. His responsibilities included developing strategies to improve financial health and operating performance, as well as regulatory and investor relationships. Mr. Yackira also served on the board of directors at the Edison Electric Institute for seven years, including as vice chairman and chairman. Earlier in his career, he spent more than a decade with FPL Group (now NextEra Energy) in various senior-level positions, including CFO of both the parent company and its Florida Power & Light subsidiary, as well as president of FPL Energy during a strategic expansion that led it to become the largest energy company in the US.
Professor LoSasso’s research spans several dimensions of health economics and health services research, focusing on how government policies affect private sector decisions. He has studied the impact of the State Children’s Health Insurance Program on insurance coverage among children and the extent to which public coverage “crowded out” private coverage. In addition, Professor LoSasso has examined how community rating regulations affected individual health insurance coverage. His research has also addressed the effects of health savings accounts and other high-deductible health insurance products on service use and spending. Professor LoSasso’s research has appeared in leading academic journals, including Health Affairs, The Journal of Health Economics, The Journal of Public Economics, and The Journal of Risk and Insurance. He is an associate editor at Medical Care Research and Review and serves on the editorial board of Health Services Research and Journal of Community Health. In addition to his academic research, Professor LoSasso has provided expert testimony in numerous matters pertaining to the appropriateness of FAIR Health methodology for use as health care charge benchmarks, as well as for use in workers’ compensation medical reimbursement disputes. He is a former executive director of the American Society of Health Economists (ASHEcon).
Dr. Pearlson is an expert in cybersecurity whose research spans management information systems, business strategy, and organizational design, as well as the development of a culture of cybersecurity to support the mitigation of cyber breaches. She also has experience in information management topics such as information systems leadership responsibilities, reengineering of business process design, and reasonable information protection practices. Dr. Pearlson has testified in litigation. She has also consulted to chief executives at established companies and startups on information technology (IT) strategy, and has led IT leadership development programs. Dr. Pearlson is a founder and managing partner of KP Partners, an advisory and executive education firm for chief information officers (CIOs), chief analytics officers (CAOs), and chief information security officers (CISOs). She is also founder and executive director of the Executive Networks IT Leaders Forum, and the founding director of the Analytics Leadership Consortium at the International Institute of Analytics. Dr. Pearlson is coauthor of Managing and Using Information: A Strategic Approach and Zero Time: Providing Instant Customer Value – Every Time, All the Time! She is a frequent guest speaker and has held positions in academia and industry, including at Babson College, The University of Texas at Austin, the Gartner Research Board, CSC Index, and AT&T.
Dr. Vigil specializes in the application of economics and finance to complex commercial litigation matters. His work includes the estimation of damages and unjust enrichment in intellectual property (IP), breach of contract, and false advertising cases; the evaluation of patented drug products’ commercial success in connection with generic manufacturers’ Abbreviated New Drug Application submissions to obtain early market entry; and the analysis of issues related to the granting of permanent injunctions, such as irreparable harm and causal nexus. Dr. Vigil has also analyzed issues related to domestic industry, remedy, and bonding on cases before the International Trade Commission.
Dr. Vigil has served as an expert witness on litigation matters in a variety of industries, including pharmaceuticals, medical devices, consumer products, telecommunications, computer hardware and software, and electronics. In non-litigation matters, he has assisted clients in valuing IP for sale or license; identifying and evaluating potential partners for licensing, acquisition, or divestiture of assets; and analyzing the impact of generic entry on prices and market shares of brand name pharmaceutical products.
Dr. Vigil is a member of the American Economic Association, the American Marketing Association, and the Licensing Executives Society, and is a frequent speaker on issues related to IP, valuation, and damages assessment. He has also taught courses in microeconomics and econometrics at the University of Maryland.
Professor Stuart specializes in intellectual property, corporate strategy, and entrepreneurship, and has conducted analyses of firms' incentives to innovate. He has provided expert consulting services to numerous companies, and teaches M.B.A., doctoral level, and executive education courses in corporate strategy, mergers and acquisitions, technology strategy, and entrepreneurship.
Professor Stuart's academic research focuses on the formulation of firm strategies in a number of industries; the formation, governance, and consequences of strategic alliances; organizational design and new formation in established firms; and venture capital networks and the role of networks in the creation of new firms. He is a recipient of the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and of Administrative Science Quarterly's Scholarly Contribution Award for best paper.
A prolific author, Professor Stuart has published several book chapters and numerous articles in peer-reviewed journals, including Administrative Science Quarterly, Strategic Management Journal, Management Science, Research Policy and Industrial and Corporate Change. He is a past or present editorial board member of these journals, and a former associate editor of the American Journal of Sociology.
Professor Knittel’s research focuses on industrial organization, applied econometrics, and energy and environmental economics. He has provided trial and deposition testimony in a number of litigation matters, including valuing product features in smartphones, PCs, and contact lenses. He has also consulted to Delta Airlines, Ford Motor Company, the US Energy Information Administration, and Korea Electric Power Company. Professor Knittel has authored or coauthored numerous articles on topics such as market structure and product pricing, tacit collusion, and challenges in merger simulation analysis. Examples of his research include articles on the spurious correlation between ethanol production and gasoline prices, unilateral market power in the electricity reserves market, and tacit collusion in credit card markets. His research has appeared in the American Economic Review, the American Economic Journal: Macroeconomics, the American Economic Journal: Economic Policy, The Review of Economics and Statistics, The Journal of Industrial Economics, and The Energy Journal, among other academic publications. He is a former coeditor of the Journal of Public Economics and serves or has served as an associate editor for several other scholarly journals, including the American Economic Journal: Economic Policy, The Journal of Industrial Economics, the Journal of Transport Economics and Policy, and The Journal of Energy Markets. Professor Knittel is a research associate at the National Bureau of Economic Research (NBER) in the Productivity, Innovation, and Entrepreneurship and Industrial Organization programs, and he co-directs the Environment and Energy Economics program.
Ms. Swallow provides strategic expertise to life sciences companies and policymakers. She specializes in applying quantitative methods to real-world problems involving evaluation, decision making, strategy, and public policy in the health care and social policy sectors. She has more than 15 years of experience leading data analytics implementation, real-world evidence (RWE) generation, regulatory submissions, analytic platform design, and trial design. Ms. Swallow’s expertise includes regulatory-grade indirect treatment comparisons, survey research, database analyses, natural history studies, brand strategy, policy evaluation, RWE development, individualized medicine, and predictive analytics. Additionally, she has led health and social policy program evaluations. Ms. Swallow has worked across disease areas, including obesity, rare diseases, immunology, multiple sclerosis, hematology, oncology, and renal disease. Her work has been used to inform regulatory and reimbursement decisions in US and global markets, published in numerous peer-reviewed journals, and presented at dozens of clinical and economic research conferences.
Mr. Hibbard is an expert on economics, strategy, regulation, and policy in the electric and natural gas industries. He has a comprehensive background merging business development, technical analysis, resource planning and development modeling, economics, and public policy in the energy and environmental fields. Mr. Hibbard has provided technical and strategic advice to government, industry, business, public interest groups, and trade organizations on energy market structure, electric and natural gas infrastructure planning and siting, utility resource solicitation and procurement, emission allocation and environmental policy, renewable resource program design and administration, transmission pricing, climate change policy, utility ratemaking practices, and the transfer of US federal and state emission control programs to other countries.
Prior to joining Analysis Group, Mr. Hibbard was chairman of the Massachusetts Department of Public Utilities. During his tenure, he carried out a forward-looking ratemaking and policy agenda to advance energy efficiency and renewable resources, coordinate regional efforts in the development of energy resources and associated infrastructure, and promote the administration of fair and efficient transmission pricing models in regional and national contexts. He also has provided testimony on resource planning, competitive electricity markets, and transmission pricing in hearings before committees of the Massachusetts legislature and the US House of Representatives, the Federal Energy Regulatory Commission (FERC), and state and regional planning councils. Mr. Hibbard has also served as a member of many energy-related boards and committees.
Dr. Sun is an anesthesiologist and health economist with expertise in perioperative and pain medicine, population health, and public health policy. His research explores issues of health through clinical and economic lenses, and has examined topics such as the influence of drug and physician pricing on medical outcomes; physicians’ responses to payment program incentives; the economics of medical innovation, including the value of new technologies to patients and society; and methods for lowering the use of opioids in pain management. From 2019 to 2020, he served as a senior health economist on the President’s Council of Economic Advisers. Dr. Sun coauthored the book Health and Wealth Disparities in the United States, and cowrote the chapter “Do We Need the FDA? Improving the Regulation of Pharmaceutical Products” in Regulation vs. Litigation: Perspectives from Economics and Law. He has published articles in The American Journal of Managed Care, the Annals of Internal Medicine, Forum for Health Economics & Policy, Health Affairs, JAMA, JAMA Internal Medicine, the Journal of Health Economics, and The New England Journal of Medicine, among other journals. He is an associate editor of Anesthesia and Analgesia and Anesthesiology. Dr. Sun’s committee memberships have included serving on the Committee on Evidence-Based Clinical Practice Guidelines for Prescribing Opioids for Acute Pain of the National Academies of Science, Engineering, and Medicine.
Dr. Weglein is an economist who testifies and supports testifying experts in complex antitrust and securities litigation and in international arbitrations. He has testified on behalf of several large banks (market definition, competitive effects, and damages) in an antitrust case involving municipal bond markets and testified on damages in a major arbitration in the shipping industry. He led a team of consultants working with counsel in Apple’s successful defense against antitrust claims brought by Epic Games. Dr. Weglein co-led a team working on behalf of three traders in the US v. Richard Usher, et al. criminal antitrust case in the foreign exchange market and in subsequent litigation brought by the US Treasury; he also co-led a team of consultants supporting the US Department of Justice (DOJ) in its successful efforts to block the Anthem/Cigna merger. He has worked in private litigation brought by health care providers against payers, several qui tam matters in health care markets, and various matters involving the health care provider and pharmaceutical markets. Dr. Weglein serves as Analysis Group’s representative to the advisory board of the New York International Arbitration Council. He has made presentations to The Knowledge Group, Global Competition Review, the New York State Bar Association, the Moot Alumni Association, and at the DOJ, and has coauthored numerous publications.
Ms. Stamm specializes in the application of finance and accounting to problems in complex business litigation. She has testified on damages arising out of general commercial disputes and intellectual property matters and provided consulting expertise, including assistance with pretrial discovery, development of economic and financial models to analyze damages, critique of analyses of opposing experts, and preparation of expert reports and testimony. She has also conducted analyses relating to the valuation of financial instruments, valuation of private companies, and lost profits. In non-litigation matters, Ms. Stamm has assisted numerous businesses in varied industries with the development of business plans and financial projections, often through the use of complex integrated financial models. Ms. Stamm is a certified public accountant and a member of the Massachusetts Society of Certified Public Accountants, where she has served on the litigation support committee. She is also a frequent speaker at conferences and seminars on topics related to securities and intellectual property litigation, and has published articles on valuation and patent damages.
Professor Lys is an expert in accounting and finance, including real estate finance, financial reporting, securities analysis, and M&A. He has testified on issues related to valuation, corporate governance, corporate finance, disclosures in M&A, fairness opinions, antitrust, GAAP compliance, taxes, and contract disputes on behalf of US and foreign government agencies and corporate clients.
Professor Lys’s research interests include risk arbitrage, labor participation in corporate decisions, auditor liability, behavioral finance, negotiations, and earnings forecasts. He has published numerous working papers and articles in refereed journals, as well as a book on negotiation that integrates the rational models of economics with the less-than-rational models of psychology. He also has edited two volumes of Karl Brunner’s work, as well as two book chapters in edited volumes. His research investigates analyst earnings forecasts and stock valuations; efficiency of analyst earnings forecasts; the ability of security analysts to learn from experience; stock price behavior following earnings announcements; properties of estimators of autocorrelation coefficients; the impact of transaction costs for market efficiency; M&A; and investors’ interpretations of corporate social responsibility initiatives.
Professor Lys was an editor of the Journal of Accounting and Economics for 11 years and also served on the editorial board of The Accounting Review. He is a recipient of the American Accounting Association’s Distinguished Contributions to Accounting Literature Award for 2022.
Professor Levinsohn is an expert in antitrust, industrial organization, and econometrics. He has provided expert reports and testimony in several landmark antitrust and regulatory matters, including In re: TFT-LCD (Flat Panel) Antitrust Litigation, In re: Vitamins Antitrust Litigation, In re: New Motor Vehicles Canadian Export Antitrust Litigation, and the Tobacco Master Settlement Agreement proceedings. He has also consulted to numerous foreign governments and international organizations.
Professor Levinsohn conducts research in industrial organization, applied econometrics, international economics, and development economics. He has served on the editorial boards of American Economic Review, The Review of Economics and Statistics, the Journal of International Economics, and the Journal of Economic Literature. Prior to joining the Yale faculty, Professor Levinsohn was the J. Ira and Nicki Harris Family Professor of Public Policy at the Gerald R. Ford School of Public Policy at the University of Michigan.
Professor Starks is an expert in finance, investment management practices, capital markets, and environmental, social, and governance (ESG). Her current research focuses on ESG issues, including climate finance and board diversity, as well as the links between molecular genetics and financial decisions. Professor Starks has served as an expert witness in federal courts on behalf of Wells Fargo, Merrill Lynch Asset Management, Vesta Insurance, and DuPont. Her research on finance issues has been published widely, and she is the editor of the Financial Management Association Survey and Synthesis Series of books, a former editor of The Review of Financial Studies, and a former advisory editor of Financial Analysts Journal and Financial Management. Professor Starks received the Moskowitz Prize for Outstanding Research in Sustainable Finance for “Corporate ESG Profiles and Investor Horizons.” She is a research associate at the National Bureau of Economics Research, a research member of the European Corporate Governance Institute, and a senior fellow at the Asian Bureau of Financial and Economic Research. Professor Starks has served as president of the Society of Financial Studies, the Western Finance Association, the Financial Management Association, and the American Finance Association. She has served on mutual fund boards of directors, pension fund advisory committees, the board of governors of the Investment Company Institute, the governing council of the Independent Directors Council, and advisory committees of the Norwegian Government Pension Fund.
Professor Edwards is an expert in international economics and management, with a particular focus on Latin America. He has consulted to a number of national and international corporations, as well as to multilateral institutions such as the Inter-American Development Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United States Agency for International Development, and the World Bank, where he served as chief economist for the Latin America and Caribbean region. He has also consulted to a number of national governments, including those of Costa Rica, Guatemala, Mexico, Argentina, Chile, Colombia, New Zealand, Indonesia, Tanzania, and Nicaragua. Professor Edwards has published widely on international economics, macroeconomics, and economic development, and has written editorials on Argentina’s economic situation for The Wall Street Journal and the Financial Times. He is a research associate at the National Bureau of Economic Research, a member of the advisory board of Trans-National Research Corporation, and former chairman of the Inter-American Seminar on Economics. Professor Edwards was awarded the 2012 Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economic Association for his lifetime contributions to policymaking in Latin America and the Caribbean.
Dr. Tierney is an expert on energy policy and economics, specializing in the electric and gas industries. She has consulted to companies, governments, nonprofits, and other organizations on energy markets, as well as economic and environmental regulation and strategy. Her expert witness and business consulting services have involved industry restructuring, market analyses, utility ratemaking and regulatory policy, clean energy regulatory policy, transmission issues, wholesale and retail market design, and resource planning and procurement. Dr. Tierney is a former assistant secretary for policy at the US Department of Energy, state cabinet officer for environmental affairs, and state public utility commissioner. She chairs the board of directors of Resources for the Future; serves on the external advisory board of the National Renewable Energy Laboratory; and is a member of the boards of directors of the World Resources Institute, the Alfred P. Sloan Foundation, the Barr Foundation, and other organizations. She has published widely, frequently speaks at industry conferences, and has lectured at many leading universities.
Professor Macey’s research and writings focus on corporate governance, corporate finance, and banking and financial institution regulation. He has served as an expert in cases involving corporate governance and corporate control – in particular, matters involving piercing the corporate veil and breach of fiduciary duty across various industries. Professor Macey is the author or coauthor of many books, including Macey on Corporation Laws and two leading casebooks: Cases and Materials on Corporations Including Partnerships and Limited Liability Companies and Banking Law and Regulation. He has published over 100 articles in major law reviews and journals, including The Banking Law Journal and The Journal of Law and Economics, and has served on numerous journal editorial boards. Professor Macey’s op-eds have appeared in The Wall Street Journal, Forbes, the Los Angeles Times, and The National Law Journal, among other publications. His awards include a Ph.D. honoris causa from the Stockholm School of Economics. Prior to joining the Yale faculty, Professor Macey was the J. DuPratt White Professor of Law and director of the John M. Olin Program in Law and Economics at Cornell Law School, and a professor of law and business at Cornell’s Samuel Curtis Johnson Graduate School of Business. He has served as a professor of law at The University of Chicago Law School and as a visiting professor of law at Harvard Law School.
Mr. Weinstein specializes in the application of quantitative methods to real-world problems involving decision making, strategy, risk management, and litigation in a variety of sectors. His work in the health care sector includes building algorithms for real-time suspicious order monitoring of controlled substance distribution by manufacturers and wholesalers, as well as statistical assessments of controlled substance dispensing issues at the pharmacy and prescriber levels. He has also led the creation of flexible damages models for use in litigation matters involving the False Claims Act, the Anti-Kickback Statute, intellectual property, and controlled substance regulation. He has served as an expert witness, testifying in administrative proceedings before the Drug Enforcement Administration (DEA).
Mr. Weinstein has managed the analysis of large transaction-level and claims databases. He also has broad experience supporting leading academic experts, working with cross-functional client teams, and presenting analytical results to top executives and government officials, including those at the DEA, US Attorneys’ Offices, and state attorneys general. In his work at Analysis Group, Mr. Weinstein builds on his prior experience, which includes contributing to economics research on 401(k) savings behavior, forecasting consumer demand at Zipcar, and advising foundations and government agencies on how to track and interpret data.
Professor Sundararajan’s research focuses on how digital technologies transform business, government, and civil society. He has extensive expertise in the regulation and governance of digital platforms, antitrust policy in high-tech industries, the economics of network effects, pricing and privacy issues in platform markets, valuation of digital businesses, and artificial intelligence (AI). He has provided expert testimony about the digital economy before Congress, the European Parliament, and to various city, state, and federal government agencies, including the Federal Reserve Bank and the Federal Trade Commission (FTC). Widely published, Professor Sundararajan has presented his research in peer-reviewed journals and at conferences, earned numerous awards and grants, and given hundreds of keynote, plenary, and other talks at industry, government, and academic forums around the world. His op-eds and other articles have appeared in more than 40 media outlets, including The New York Times, The Financial Times, Harvard Business Review, Fortune, and WIRED. Professor Sundararajan is the recipient of the Axiom Business Book Award for The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. He is a member of the World Economic Forum’s Global Future Council on the New Economic Agenda. Professor Sundararajan also advises organizations ranging from large corporations and tech startups to nonprofits and municipal governments. In addition to his primary professorial appointments, Professor Sundararajan is an affiliated faculty member at many of NYU’s interdisciplinary research centers, including the Center for Data Science and the Center for Urban Science and Progress.
Professor Pindyck is a leading industrial organization economist and testifying witness in the areas of antitrust and intellectual property. His research and writing have covered topics in microeconomics and industrial organization, the behavior of resource and commodity markets, financial markets, and econometric modeling and forecasting. His recent work in economics and finance has examined the determinants of market structure and market power, the dynamics of commodity spot and futures markets, criteria for investing in risky projects, the role of R&D, and the value of patents. He has received many academic honors, including several awards for outstanding teaching, and holds senior editorial positions with a number of publications. Professor Pindyck has consulted to dozens of public and private organizations, including the Federal Trade Commission, IBM, and AT&T, and has been deposed and/or testified in over a dozen cases in diverse industries such as food, energy, software, medical devices, and airlines. He has worked with Analysis Group on many of these cases, including the Lotus v. Borland litigation, in which Professor Pindyck used econometric modeling techniques to identify the economic value of various attributes and isolated the value of the infringing features. He also worked with Analysis Group in a major litigation matter involving price-fixing allegations, in which he examined allegations of accumulation of buying power and the resulting effects on negotiations with suppliers.
Mr. El-Hage is an expert in corporate governance, corporate finance, and valuation, with more than 20 years of professional experience in executive management positions, focusing in the areas of private equity, equity financing, restructuring, and venture capital. He has provided consulting in several litigation matters involving governance and valuation issues and has provided expert testimony at deposition. He has also served on the boards of numerous private and public companies, ranging from start-ups to those with several billion dollars in revenues. He is currently the independent chairman of the MassMutual Premier Funds, a $10 billion+ mutual fund complex.
In addition to his experience raising capital, Mr. El-Hage has hands-on experience as the CEO and CFO of operating companies. In those capacities he oversaw corporate expansion, raised capital, and restructured debt. As a professional with two public equity firms, he evaluated investment opportunities, led a successful public offering, and undertook extensive due diligence and financial modeling, as well as completing the sale of two portfolio companies.
In 2003, Mr. El-Hage became senior associate dean for external relations at the Harvard Business School, where he was also, at various times, a professor of management practice and the Thomas Henry Carroll/Ford Foundation Adjunct Professor of Business Administration. He introduced and taught a new elective course on management and governance of active investing, in addition to courses in leadership and corporate accountability, and corporate finance. He was voted Capstone Professor six times, a rare honor, and was also awarded the prestigious Student Association Teaching Award in 2006.
Dr. Yang is an expert in health economics and outcomes research (HEOR), with extensive experience in developing comprehensive HEOR strategies to support products throughout their entire life cycles. As part of her diverse portfolio of HEOR case work, she has developed robust launch strategies; generated real-world data (RWD); and created clinical, economic, and humanistic evidence to support product value propositions. Notably, Dr. Yang has led case teams in preparing submissions to health technology assessment (HTA) agencies across the world, including those in the UK, France, Germany, Norway, Australia, Canada, and Japan. She has also conducted numerous studies across various therapeutic areas – such as autoimmune diseases, infectious diseases, diabetes, blood disorders, oncology, women’s health, and rare diseases – and worked across diverse treatment paradigms, including one-time interventions involving cell and gene therapies, as well as recurrent treatment regimens. Dr. Yang’s work has been widely published in peer-reviewed journals and featured at health care conferences.
Professor Madnick specializes in database technology, connectivity among disparate distributed information systems, software project management, and the strategic use of information technology (IT). He is an experienced expert witness and has provided testimony in numerous litigation matters, including multiple cases involving Microsoft. Professor Madnick has also consulted to several major corporations, including IBM, AT&T, and Citicorp. He is co-head of the Total Data Quality Management (TDQM) Program and founding director of MIT’s Interdisciplinary Consortium for Improving Critical Infrastructure Cybersecurity, also known as (IC)3. Professor Madnick was the principal investigator of a large-scale research effort funded by the US government’s Defense Advanced Research Projects Agency (DARPA) on context interchange, which involved the development of technology that helps organizations work more cooperatively and collaboratively. His industry work includes contributions to projects such as IBM’s VM/370 operating system and Lockheed Martin’s DIALOG information retrieval system. He has also founded or co-founded several high-tech firms, including Intercomp, acquired by Logicon; Mitrol, acquired by General Electric; the Cambridge Institute for Information Systems, subsequently renamed Cambridge Technology Group; and iAggregate, acquired by ArsDigita, which was subsequently acquired by Red Hat. Professor Madnick has authored or coauthored over 400 books, articles, and technical reports.
Dr. Sutcliffe's expertise is in the areas of strategic management and organization theory. Her research has been aimed at understanding how organizations and their members cope with uncertainty and unexpected events, and how complex organizations can be designed to be more reliable and resilient. Dr. Sutcliffe is a coauthor of Managing the Unexpected: Resilient Performance in an Age of Uncertainty (2007) and Medical Error: What Do We Know? What Do We Do? (2002). She has published her research on high-reliability organizations, organizational resilience, and safety culture in numerous management and health care journals, and she has presented her findings nationally and internationally. Dr. Sutcliffe has also consulted with private multinational companies in a variety of industries, and with nongovernmental organizations and government agencies. She was recently appointed by The National Academies to a research panel on workforce resilience that will study and provide recommendations to the US Department of Homeland Security. She has received multiple grants, including a 2010 award from the Robert Wood Johnson Foundation to conduct a study of the medicalization of patient safety. Dr. Sutcliffe has served on the editorial boards of several academic journals, including Organization Science, Academy of Management Journal, Organization Studies, and the International Public Management Journal.
Dr. White specializes in health care, transfer pricing and valuation, and general commercial litigation. He combines his expertise in applied microeconomics, statistics, and econometrics with nearly 25 years of experience with client engagements. A diverse range of clients have retained Dr. White to assist in all stages of the litigation cycle – including advising on discovery issues, expert report preparation, and preparation for deposition and trial. He has worked on general commercial litigation matters such as allegations of false advertising and breach of contract, investigations into alleged off-label promotion of prescription drugs, and the economic impact of generic drug entry/substitution. Additionally, he has also analyzed economic issues relevant to class certification and quantification of damages.
Dr. White has managed numerous commercial litigation matters, supporting academic and industry specialists with expertise in industrial organization, statistics, health economics, and marketing. His tax and transfer pricing work has evaluated the arm’s length nature of pricing in intercompany transactions, and the estimation of useful economic lives for various tangible and intangible assets. In addition to his litigation work, Dr. White’s health economics engagements have included the development of empirical models for evaluating factors to help identify patients at risk of prescription opioid abuse, as well as the estimation of societal economic costs of prescription opioid abuse.
An active researcher, Dr. White’s publications have focused on specific health economics issues, such as the economics of prescription opioid abuse and the evaluation of the impact of biosimilar approval on the litigation landscape. He has presented and participated in a number of industry conferences. Dr. White is an adjunct faculty member in the Department of Economics at Northeastern University, where he teaches courses on applied microeconomics and applied econometrics.
Professor Sussman focuses his research in the areas of real estate investment and finance, financial statement analysis and valuation, and corporate financial reporting. He has consulted to large and small firms nationally and globally, and is a frequent lecturer on a variety of financial, accounting, and corporate reporting topics. Professor Sussman has served as an expert witness and consultant in commercial litigation involving matters of real estate due diligence and related practices, corporate financial reporting and disclosure, audit effectiveness, valuation, and overall damage analyses. He is a founding partner of Clear Capital, where he oversees the firm’s capital, equity, and debt departments and strategic planning functions, and provides leadership to the firm in the areas of private equity, joint ventures, and fund formations. Professor Sussman is also president of Amber Capital; manager of Fountain Management; and managing partner of the Pacific Value Opportunities Fund and Clear Opportunity Fund, which have acquired, rehabilitated, developed, and managed over 2 million square feet of residential and commercial real estate. He also serves as the audit committee chairman of the board of trustees of Causeway Capital’s group of funds, which collectively have more than $15 billion in assets. Professor Sussman is a licensed certified public accountant in the State of California.
Professor Reibstein’s research focuses on competitive marketing strategies, metrics, and product line decisions, among other topics. He has provided marketing management education and consulting research to companies in the consumer goods, pharmaceutical, and oil and gas industries, among others. His consulting activities have included numerous applications of conjoint analysis and other survey techniques in engagements spanning a wide range of products. Professor Reibstein has submitted expert reports and provided testimony on marketing and marketing research in several litigation matters, including analyses of smartphone features in a patent dispute, health claims in a false advertising dispute, and pharmaceutical detailing in a co-marketing dispute.
His recent work includes assessing strategies to address competitors’ reactions to marketing actions and developing metrics that link marketing decisions to financial consequences, which was published in his book, Marketing Metrics: The Definitive Guide to Measuring Marketing Performance. Professor Reibstein is also the author or coauthor of numerous books and chapters in books on subjects including competitive marketing strategy, global branding, and marketing performance measurement. Professor Reibstein has also written several papers on conjoint analysis and its validity and reliability. His research has been published in leading academic journals, including Marketing Science, the Journal of Marketing Research, and the International Journal of Research in Marketing.
Professor Reibstein has been honored with more than 30 teaching and publishing awards, including the John S. Day Distinguished Alumni Academic Service Award from Purdue University’s Krannert School of Management. He has served as the chairman of the American Marketing Association board of directors and as the executive director of the Marketing Science Institute.
Mr. Hutchings’ economics expertise spans a wide array of topics, including tax and transfer pricing, securities and finance, valuation and damages, and antitrust. Deeply experienced in litigation, international arbitration, and investigations, he has led case teams, conducted economic and financial analyses, estimated damages and liability, and performed valuation analyses in complex matters across many jurisdictions, including the US, Canada, the UK, the EU, Latin America, and Australia.
In tax controversy and transfer pricing matters, he has assisted expert witnesses and attorneys for both taxpayers and taxing authorities in jurisdictions around the world. Mr. Hutchings has analyzed intercompany financings for both debt/equity characterization and debt pricing questions, valued closely held corporations, studied issues of cost allocations between related parties, and assessed arm’s-length pricing in a variety of contexts. For example, he has worked with financial institutions on allocating losses amongst subsidiaries, studied the sources of value for consumer packaged goods, priced related party transactions for pharmaceutical products, and worked with medical device manufacturers on transfer pricing between related parties. Mr. Hutchings has provided expert reports on tax dispute and transfer pricing issues for both planning and litigation. He has also applied transfer pricing principles in non-tax disputes such as assessing fairness in corporate transactions between related parties.
In antitrust and competition matters, Mr. Hutchings has analyzed anticompetitive effects, evaluated potential remedies, examined the economics of platform markets, and assisted in the preparation of analysis and testimony before courts and government regulators, such as the US Federal Trade Commission (FTC).
In addition, he has quantified harms and foregone benefits, and valued natural resources and treaty entitlements, in several disputes between Canadian First Nations and the Crown, both testifying at trial and consulting to reach pre-dispute resolutions. He has also quantified damages arising from tortious interference, breach of contract, and other contractual and extra-contractual remedies, and provided valuation analyses in numerous commercial disputes.
Ms. Wood is an expert in institutional investing, global corporate governance, equity and bond portfolio management, financial analysis, and securities analysis, with over 35 years of experience in the asset management industry. She also has expertise in investment management and asset allocation of pension funds, mutual funds, insurance companies, endowments, and foundations. She has served as an expert witness in litigation involving asset allocation, investment policy, investment manager due diligence, public pension plans, corporate governance, securities analysis, and portfolio management.
Ms. Wood led the $150 billion equity, hedge fund, and activist portfolios for the California Public Employees’ Retirement System (CalPERS), the largest public pension plan in the US. She also managed the CalPERS corporate governance program and Focus List engagements, including its environmental, social, and governance (ESG) strategies. Ms. Wood’s other ESG activities include serving as board chair of the Global Reporting Initiative, tasked with setting global sustainability disclosure standards for over 5,000 companies worldwide. She is a former CEO of Capital Z Asset Management, one of the largest independent sponsors of hedge funds, where she was responsible for minority equity ownership in 11 hedge funds across $7 billion in equity, fixed income, and commodity strategies.
Ms. Wood serves on numerous boards of directors, having chaired the audit, corporate governance, and investment committees of the boards of several financial institutions. Previously, she was a member of the Financial Accounting Standards Board (FASB) Investor Advisory Group, the Public Company Accounting Oversight Board (PCAOB) Standing Advisory Group, and the International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group. She is a frequent speaker on topics that include sustainability reporting, corporate governance, ESG disclosure, best practices of boards of directors, global alpha generation, and hedge funds. Ms. Wood was a 2018 Harvard University Advanced Leadership Fellow.
Professor Fader is a marketing expert who analyzes behavioral data to understand and forecast customer shopping and purchasing activities, determine customer lifetime value, and assess customer relationship management activities. His research highlights the consistency of customer behavior patterns across industries, as well as methods for leveraging this information to create more effective marketing strategies. He has provided expert testimony in litigation, and he has consulted to firms in a range of industries, including consumer packaged goods, interactive media, financial services, retailing, and pharmaceuticals. Professor Fader has published numerous journal articles and book chapters on a variety of marketing and applied statistics topics. He is the author of Customer Centricity: Focus on the Right Customers for Strategic Advantage (2020) as well as coauthor of The Customer Centricity Playbook: Implement a Winning Strategy Driven by Customer Lifetime Value (2018). He has been on the editorial boards of several journals, including Marketing Science, the Journal of Marketing Research, and the International Journal of Research in Marketing. In addition to his academic career, Professor Fader has brought his customer-oriented expertise to the marketplace in his capacity as co-founder of the predictive analytics firm Zodiac and the customer-based corporate valuation firm Theta.
A specialist in finance and securities, Dr. Wong has managed teams supporting academic and industry affiliates in litigation matters involving securities fraud, damages, bankruptcy, suitability analysis, portfolio management, mortgage lending practices, accounting analysis, market manipulation, and financial statement analysis. He has extensive experience analyzing fixed-income instruments, structured finance instruments, and credit derivatives. Dr. Wong has worked on and provided testimony in government regulatory investigations. His recent engagements include work in legal disputes related to structured finance instruments, including residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs); securities lending; mutual funds and other commingled investment pools; corporate governance; and investment suitability claims. He has also worked on valuation, class certification, and intellectual property matters.
Dr. Wong joined Analysis Group from Chicago Partners in 2006, and has played an instrumental role in the development and growth of the firm’s Chicago practice. He is a member of the American Finance Association and has published research on bankruptcy and the financing of new firms.
Ms. Arcelus specializes in analyses of complex problems in business litigation from technology, economic, and financial perspectives. Her litigation experience includes all aspects of diverse litigation matters. Ms. Arcelus frequently works with an extensive network of experts from leading universities, as well as distinguished industry experts, to apply innovative and established techniques to her engagements.
In more than three decades at Analysis Group, she has managed high-profile litigation projects across a variety of areas, including antitrust and competition, intellectual property, data protection and privacy, technology, cybersecurity, biometric data, algorithm use, regulatory compliance, impact of misleading information technology, and contract disputes. Her work often involves leading companies in technology-intensive industries such as digital platforms, biotech, engineer systems, computer hardware, and software. Ms. Arcelus has worked on cases in the US, Canada, Latin America, and Europe.
Ms. Arcelus has also worked on securities class action cases involving institutional responsibility and investor knowledge; energy litigation projects involving contract and price disputes; labor litigation involving no-poach agreements; and health care consulting projects involving the statistical modeling of clinical outcomes, pharmacoeconomic analyses, and strategic financial analyses.
Professor Tadelis is an expert on e-commerce and the economics of the internet, industrial organization, and microeconomics, including game theory and auction theory. His work on e-commerce investigates online auctions and online bargaining, digital advertising, seller reputation and the determinants of trust, price salience, and algorithmic pricing. Professor Tadelis has also researched contract theory and design, with applications to outsourcing, privatization, strategic pricing, public and private sector procurement and award mechanisms, and strategic sourcing and pricing. He has been engaged by regulatory authorities and tech companies in a variety of investigations and litigation matters in both the US and Canada on topics such as consumer protection, pricing, and online advertising and has testified at deposition.
Professor Tadelis has a decade of experience working with online marketplaces and retailers. He served as a senior director and distinguished economist at eBay Research Labs, where he hired and led a team of economists focused on the economics of e-commerce, with particular attention to creating better matches of buyers and sellers; reducing market frictions by increasing trust and safety in eBay’s marketplace; understanding the underlying value of different advertising and marketing strategies; and exploring the market benefits of different pricing structures. He also served as vice president of economics and market design at Amazon, where he guided and supported economic analyses for business decisions across the company.
Professor Tadelis participated in the Federal Trade Commission’s 2018 hearings on “Competition and Consumer Protection in the 21st Century.” He testified on two panels: “Multi-Sided Platforms in Action” and “Nascent Competition: Is the Current Analytical Framework Sufficient?”
Professor Tadelis is the author of books on game theory and microeconomic theory, as well as a handbook chapter on two-sided e-commerce marketplaces and the future of retailing. He has published articles in and served on the editorial boards of leading economics, marketing, and management journals. He is a research associate at the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research.
Professor Riddiough is best known for his work on real options, mortgage pricing and strategy, REITs, and land use regulation. He has served as an expert in numerous real estate-related matters, in which he has testified on appraisal and the value of distressed mortgages. Professor Riddiough has consulted to numerous organizations, including the US Department of Housing and Urban Development, GMAC, Wells Fargo, Coldwell Banker Commercial, The Equitable Life Assurance Society, and the State of Wisconsin Investment Board. He has published more than 40 scholarly articles. He has served on the boards of directors of several organizations, including ArCap REIT, EquiBase Capital Partners, and the American Real Estate and Urban Economics Association. Professor Riddiough is the recipient of best dissertation and best paper awards in real estate economics, and is a fellow at the Real Estate Research Institute and a past fellow at the Homer Hoyt Institute. He teaches courses in real estate finance, real estate capital markets, and microeconomics.
Dr. Chakraborty is an economist with an extensive background in economics, finance, accounting, and valuation. She has been retained both as an expert witness and as a consultant in a number of matters involving equity and fixed income securities, valuation, solvency, fraudulent conveyance, and economic damages. Dr. Chakraborty has conducted analyses in matters involving bankruptcy, mergers and acquisitions (M&A), tax and transfer pricing, international arbitrations, fraud, and theft of trade secrets and misappropriation. Her work has involved the development of financial and economic models, the evaluation of large datasets, and the application of statistical methods to a variety of complex problems. She has worked on matters involving companies in many industries, including financial services, energy, retail, and pharmaceuticals.
Mr. FitzPatrick is a wealth management and fiduciary expert with extensive experience serving high-net-worth individuals, families, and related charitable entities. In his role at Northway Wealth Advisors, he provides guidance to trustees of personal trusts and executors of estates, and mediation and expert witness services in support of fiduciary-related dispute resolution. Mr. FitzPatrick has been recognized as a court-qualified expert in wealth management matters and has served as a testifying expert in multiple trust and estate cases. He is a columnist and author of articles published in The International Family Offices Journal and Trusts & Estates magazine. Prior to founding Northway, he held senior executive roles with Dominion Fiduciary Services, Webster Bank, BNY Mellon, J.P. Morgan, Citigroup, and Goldman Sachs, among others. Notably, he led J.P. Morgan Private Bank’s global trust and estate administration business, which managed accounts valued at more than $21 billion. Subsequently, Mr. FitzPatrick served as managing director and head of trust for Goldman Sachs, where he chartered and built both The Goldman Sachs Trust Company, N.A., and The Goldman Sachs Trust Company of Delaware, and grew combined assets under fiduciary supervision from zero to $2 billion in under four years. He then ran Citigroup’s global personal trust business, managing more than $50 billion in fiduciary accounts. He is a member of several nonprofit boards and committees and has held numerous leadership positions with industry associations and on professional and corporate boards. Mr. FitzPatrick is a registered Trust and Estate Practitioner (TEP) and a Master Certified Independent Trustee.
Mr. Jarosz is an economist and director of Analysis Group’s Washington, DC office. He specializes in matters involving intellectual property (IP), commercial damages, licensing, and antitrust. His IP work focuses on evaluating lost profits, reasonable royalties, price erosion, commercial success, licensing terms, best efforts, irreparable harm, and FRAND commitments. Mr. Jarosz has significant expertise testifying in patent, trademark, copyright, and trade secret tort and contract matters. He is also experienced in both US and international arbitration, often serving as an expert witness in matters involving IP rights.
A frequent author and lecturer on the economics of IP protection, Mr. Jarosz has participated in and given presentations at various meetings of the Sedona Conference, Intellectual Property Owners Association, Licensing Executives Society, and the Association of University Technology Managers. He has published a variety of papers in professional and practitioner journals, and he has taught classes at Georgetown University Law Center, George Washington University Law School, the University of Pennsylvania Law School and Department of Economics, Columbia Business School, and the US Patent and Trademark Office. Mr. Jarosz has been recognized for many years as among the top economic experts for IP matters by Intellectual Asset Management (IAM) in the IAM Patent 1000, which identifies leading patent professionals around the globe.
Professor Wright is an expert in accounting, public policy, and resource allocation related to petroleum. She focuses her work on international petroleum contracts, upstream oil and gas accounting, and financial reporting, as well as on the disclosure and valuation of oil and gas reserves. Her research has examined accounting issues for environmental costs and asset retirement obligations, petroleum economics and decision analysis, joint interest accounting, and the evaluation of oil and gas financial statements. Over the past two decades, Professor Wright’s expertise in petroleum economics and valuation has been called on in support of numerous litigation matters. In these engagements, she has served as a witness, filed expert reports, and provided testimony at deposition and trial. Professor Wright has authored dozens of research publications and is the coauthor of two textbooks, Fundamentals of Oil & Gas Accounting and International Petroleum Accounting. She has served on the editorial review boards of several publications, including Petroleum Accounting and Financial Management Journal and Oil, Gas & Energy Quarterly, and was a member of the International Accounting Standards Board’s extractive industries advisory committee. Professor Wright is a certified public accountant in Oklahoma.
Professor Melvin has lengthy academic and business experience in international finance – including foreign exchange market microstructure – and multi-asset investment strategies. His current research focuses on currency carry trades, currency transaction costs, and exchange rate models. Professor Melvin has published widely on topics that include exchange rates, currency investing, and international equity markets. Previous faculty appointments have included Arizona State University’s W.P. Carey School of Business; the Haas School of Business at the University of California, Berkeley; the University of California, Los Angeles; and Northwestern University.
In addition to his academic achievements, Professor Melvin has deep in-house experience in the finance industry. Before joining the Rady School, he was managing director and senior research advisor in multi-asset strategies at BlackRock. He also served as the head of currency and fixed-income research in the Global Market Strategies Group at BlackRock and Barclays Global Investors. Professor Melvin is former coeditor of the Journal of International Money and Finance, and he has been a visiting scholar at the Federal Reserve Board, the International Monetary Fund, and the Bank for International Settlements.
Dr. Wu is a health economist with expertise in health economics and outcomes research (HEOR), market access, and scientific evidence strategy. He has conducted research in more than 30 countries on behalf of pharmaceutical and medical device companies, payers, providers, and government agencies. Dr. Wu has contributed to over 200 publications across dozens of therapeutic areas, including regenerative therapies (gene and stem cell), rare and ultra-rare diseases, biologics, and immuno-oncology.
Dr. Wu spends a significant portion of his practice developing new scientific methods to address challenges in health care research. He has developed client-focused solutions based on the use of artificial intelligence (AI), medical big data, real-world evidence, and innovative comparative-effectiveness research methodologies.
Professor Thurman is an expert in agricultural markets and regulation. He has consulted on a wide variety of topics related to agriculture, including competition in agricultural markets, international trade in agricultural commodities, the behavior of agricultural futures markets, the proper use of econometric methods, damages assessments, the role of agricultural cooperatives, and the estimation of cost pass-through to indirect purchasers. As an expert witness, Professor Thurman has testified at deposition and in federal and state court proceedings. He has published widely on agricultural and natural resource subjects, including grower compensation in the poultry industry, food safety regulation in the egg industry, the effects of supply control programs for peanuts and tobacco, honeybee pollination markets and colony collapse disorder, the performance of lumber futures markets, and the costs of the Clean Water and Clean Air Acts. At North Carolina State University, Professor Thurman taught graduate and undergraduate courses in econometrics, microeconomics, and agricultural markets. He is the recipient of numerous research and teaching awards and fellowships, including the Agricultural & Applied Economics Association’s (AAEA’s) Publication of Enduring Quality and Outstanding Graduate Instructor Awards. Professor Thurman is a past editor of the American Journal of Agricultural Economics, an elected fellow of the AAEA, and a senior fellow of the Property and Environment Research Center in Bozeman, Montana.
Professor Schoar is an expert in corporate finance, entrepreneurship, and organizational economics. Her research examines returns and capital flows in the venture capital industry, the financing of small- and medium-sized enterprises and startup firms in emerging markets, and the impact of corporate governance practices on firm performance. Professor Schoar has served as an expert witness in cases involving commercial litigation and financial services. She is co-chair of the Corporate Finance Program at the National Bureau of Economic Research and co-founder and scientific director of ideas42, a research lab on behavioral social science. She has published numerous articles and papers and received several awards for her research, including the Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship, and the Brattle Group Prize in Corporate Finance for her paper “The Effects of Corporate Diversification on Productivity.” She is the executive editor of The Journal of Finance and previously served as an associate editor of the American Economic Journal: Applied Economics, the Journal of Economic Perspectives, and the Journal of Financial Intermediation. Professor Schoar’s work has been featured in The Economist, the Financial Times, The New York Times, and The Wall Street Journal.
Mr. Yeater specializes in applying financial and economic analyses to complex business litigation and regulatory matters involving antitrust concerns, intellectual property claims, and other commercial disputes. Mr. Yeater serves as an expert witness and consults to clients in non-testifying roles. In more than 20 years as an economic consultant, he has led large, high-profile engagements supporting multiple experts in a variety of industries, including digital and traditional media, sports and entertainment, retail consumer goods, high-tech consumer products, pharmaceuticals, chemicals, agriculture, education, and financial services.
Mr. Yeater applies his expertise to analyze competition and substitution patterns, define relevant markets, and evaluate potential competitive effects and counterfactual outcomes in merger and competition investigations and antitrust litigation. He has served as a testifying economist concerning the analysis of merger efficiencies and procompetitive effects of conduct. Mr. Yeater has also evaluated competition, pricing, output and efficiencies, and procompetitive benefits in connection with merger and behavioral investigations in the US, Australia, Korea, the UK, and the EU. He has supported merging parties and the Federal Trade Commission (FTC) in a variety of merger investigations. In other litigation matters, Mr. Yeater has applied his expertise in financial and economic concepts to the analysis of damages, and has provided assistance throughout all phases of pretrial and trial practice.
Mr. Yeater serves as a vice chair to the American Bar Association (ABA) Antitrust Law Section’s Podcasting Committee, producing and hosting episodes of the committee’s Our Curious Amalgam podcast. Previously, he was a vice chair of the Food and Agriculture Committee. He publishes and presents regularly on topics relevant to his expertise, including the economic analysis of competition, the calculation of damages in antitrust and other cases, and class certification.
Mr. Jetley specializes in mergers and acquisitions (M&A), valuation of derivative instruments, securities valuation, corporate finance, and risk management. He has worked on several transaction-related matters that involved the analysis of target valuations, sales processes, disclosures made by bidders and targets, and other deal terms. His securities valuation experience includes analyzing the impact of selected disclosures on the stock price of large corporations across a variety of industries, including technology, electric utilities, office equipment, biotechnology, real estate investment trusts (REITs), and health care providers. Mr. Jetley has also worked on several matters involving the valuation of equity, fixed-income, foreign exchange, and mortgage-backed derivative securities. He frequently publishes and presents on topics involving M&A, securities, financial analysis, and commercial damages.
Professor Meyer specializes in software engineering and the construction of complex reliable systems. His research interests run from the technical (such as software verification, programming languages, and concurrent programming) to the managerial (including large project organizations, agile methods, quality assurance, and troubled-project rescue). Professor Meyer has served as an expert witness in technology-related cases before the US International Trade Commission (ITC), the European Commission (EC), and the International Chamber of Commerce. These include a patent litigation case between Nokia and Apple before the ITC, and a Microsoft antitrust case before the EC. He has consulted to companies in the US, Japan, and Europe. A pioneer of object technology – a now-dominant approach to software design and programming – Professor Meyer designed the Eiffel programming language and established the “design by contract” (DbC) programming concept. Professor Meyer has published over 300 articles and 12 books, many widely translated, on software issues and techniques. His awards include the IEEE Computer Society’s Harlan D. Mills Award and the Association for Computing Machinery (ACM) Software System Award; he is a member of Academia Europaea, and a fellow of the International Federation for Information Processing (IFIP) as well as the ACM. After co-founding Eiffel Software, he was a professor of software engineering and chairman of the Department of Computer Science at ETH Zürich. In addition to his current role at the Schaffhausen Institute of Technology in Switzerland, Professor Meyer holds associated positions with Politecnico di Milano, the University of Toulouse, and Russia’s Innopolis University. He speaks English, French, Russian, German, and Italian.
Dr. Chawla has more than 25 years of experience as an economist in the health care sector. Since joining Analysis Group in 2007, she has helped global biopharmaceutical, diagnostic, and medical device manufacturers - as well as development-stage companies - address product development and commercialization objectives, particularly as they relate to market access. Her work has spanned a wide range of therapeutic areas, including multiple indications in oncology. Her recent client work includes landscape assessments, economic modeling, and strategic plans to inform evidence generation in the context of product development and market access launch strategy; forecasts to help prioritize research and support licensing and venture funding discussions; payer research and advisory boards; and launch materials that communicate a product's clinical and economic value to support evidence-based reviews. Dr. Chawla recently led an engagement comprising a fully integrated market access strategy and related tactics to support the launch of a novel drug to treat an orphan disease.
Dr. Chawla's recent publications include an assessment of the impact of regulatory requirements for cardiovascular risk evaluation for diabetes therapies. She has served as a reviewer or referee for several journals, including Value in Health, Health Affairs, Health Services Research, Journal of the American Medical Association, and Journal of Business and Economic Statistics. Prior to joining Analysis Group, she was head of the health economics and outcomes research department at Genentech, Inc., where she also supported the oncology franchise.
Professor Toubia has marketing expertise in the areas of innovation and new product development, with a specific emphasis on market research, behavioral economics, preference measurement, and customer choice models. He focuses his research primarily on studying how firms can optimize their interactions with customers. For example, he has used polyhedral adaptive choice-based conjoint analysis to develop marketing strategy and assessed the comparative value of promotional efforts launched through online social communities versus traditional direct-mail campaigns. Professor Toubia has conducted numerous surveys for litigation – including conjoint studies – involving smartphones, set-top boxes, consumer packaged goods, medical equipment, and perceptions of employment status. He has also been deposed and testified at an arbitration matter.
Professor Toubia worked with Applied Marketing Science on the development of IDEALYST®, an online idea generation and group brainstorming tool that has been used by numerous corporations to enhance output and creativity through the use of incentives. His research has been honored with three John D.C. Little Best Paper Awards and published in a variety of marketing outlets. Among other journal affiliations, Professor Toubia is coeditor of Quantitative Marketing and Economics, associate editor of Management Science and Marketing Science, and a member of the editorial boards of International Journal of Research in Marketing and Journal of Marketing Research.
Professor Wruck's research and teaching are in the fields of financial and organizational economics, with special emphasis on corporate finance, restructuring, financial distress, governance, and management compensation. She has served as an academic director of the Financial Management Association and the Turnaround Management Association, consulted to major corporations, and has worked on a number of high-profile corporate litigation projects as a subject matter expert. Professor Wruck has published numerous articles in leading academic journals, and her work and opinions have been highlighted in several business periodicals. In addition to refereeing for several industry journals, she serves as an advisory editor for the Social Sciences Research Network (SSRN) and the Organizations and Markets Electronic Journal. She is also a former associate editor of the Journal of Financial Economics, the Journal of Corporate Finance, The Journal of Financial Research, and European Financial Management. Professor Wruck’s honors include Ohio State's Mary Ann Williams Award, which recognizes a woman exhibiting extraordinary leadership, and Fisher's Bostick-Georges Pacesetter Service Award, which recognizes exceptional leadership and service to the College of Business. In addition, she has on multiple occasions been selected as outstanding professor by Ohio State's full-time and executive M.B.A. programs. Prior to her appointment at Ohio State, Professor Wruck served on the faculty of the Harvard Business School.
Professor Snyder is an industrial organization economist whose research focuses on antitrust policy and enforcement, contracting practices, financial institutions, and law and economics. He has consulted on and served as a testifying expert in numerous high-profile cases, opining on liability, damages, proposed mergers, price-fixing allegations, Hatch-Waxman claims involving pharmaceuticals, monopolization claims, and proposed class certifications of both direct and indirect purchasers. In addition, Professor Snyder has testified before combined US Federal Trade Commission (FTC) and US Department of Justice (DOJ) hearings on competition and intellectual property, and has presented separately before the DOJ’s Antitrust Division, where he worked as an economist earlier in his career, and the FTC. He has been a signatory to amicus briefs submitted to the Supreme Court on various price-fixing and Sherman Act issues.
Professor Snyder has written extensively on topics related to antitrust and policy issues, with his articles appearing in prestigious publications such as The Journal of Law and Economics, the Journal of Comparative Economics, The Antitrust Bulletin, and Contemporary Policy Issues. His work has also been featured in major media outlets, including the Financial Times, The Wall Street Journal, and The New York Times.
Professor Snyder also served as the dean of the Yale School of Management from 2011 to 2019, during which time he enhanced the school’s academic programs and financial standing, and established new master’s programs in the areas of management, entrepreneurship, and executive education. He also founded the Global Network for Advanced Management at Yale University, an international consortium of schools devoted to teaching tomorrow’s business leaders around the world. Prior to joining Yale, Professor Snyder was the dean of the business schools of The University of Chicago, the University of Virginia, and the University of Michigan.
Mr. Ji specializes in the application of economics and finance to litigation matters in the areas of mergers and acquisitions (M&A), valuation, financial instruments, and tax. He has significant experience supporting academic and industry experts, as well as providing consulting assistance to clients. Mr. Ji has examined all aspects of M&A, including bid premiums, public and private benefits of control, deal terms, sales mechanisms, negotiation processes, shareholder activism, merger arbitrage, advisor fees, material adverse event (MAE) and material adverse change (MAC) provisions, and consequences of breaching non-disclosure or standstill agreements. His valuation experience includes analyzing real estate, telecommunications, energy, public transportation, medical devices, and banking and brokerage companies and assets. In the bankruptcy area, he applies his valuation skills to solvency and fraudulent conveyance analyses. Mr. Ji has managed case teams in matters involving various types of financial instruments and markets, including foreign currencies, auction-rate securities, precious metals, and fixed-income derivatives. In securities litigation matters, he has assisted counsel and experts throughout all stages, including class certification, merit, mediation, and settlement negotiation, and has addressed issues such as price impact, loss causation, damages methodology, materiality, and falsity. He has also assessed the economic substance and structure of various complex tax shelter transactions. Mr. Ji’s research papers have been published in the Financial Analysts Journal and The Business Lawyer.
Professor Fox’s research focuses on retail pricing, promotion, and assortment management, as well as the quantitative modeling of consumer shopping behavior to address retail competition and marketing channel issues. He frequently estimates models using customer-level data to identify the drivers of shopping behavior and to make shopping and spending predictions, which can then be used by retail decision makers to improve store performance. Professor Fox has consulted to retailers and other companies on marketing management, strategy, and quantitative decision making. His clients have included ACME Markets, Genuardi’s Family Markets, Softspikes, Arcis Golf, and Reliant Rehabilitation. He has also filed an expert report on behalf of the Federal Trade Commission in a retail antitrust case. Professor Fox’s research has addressed topics such as dynamic pricing, demand estimation using transaction data, competitive issues in retailing, consumer spending behavior across retail formats, and recapturing lost customers. His articles have been published in journals such as Marketing Science, the Journal of Marketing Research, the Journal of Marketing, Management Science, Operations Research, and the Journal of Retailing. He is frequently quoted in the media on retail marketing and consumer buying behavior, and he has spoken at numerous retail industry conferences and trade association meetings.
Professor Anderson conducts research on the design of cost accounting systems and on how firms use management control practices to mitigate risk and facilitate collaboration in inter-firm transactions. This research includes performance measurement, incentive contracting, supply chain contracting, and operations management. Professor Anderson uses empirical analysis of firm-level accounting and operational data to test economic theories about firm performance. She also has experience designing and administering surveys and analyzing survey data. Her published work has employed data from many industries including automotive, electronics manufacture, office furniture manufacture, commercial airlines, consumer retail, coal extraction, transportation, and warehousing and distribution.
Professor Anderson co-authored the award-winning book Implementing Management Innovations and the textbook Fundamentals of Cost Accounting (now in its 5th edition). Her research has been published in leading research journals including The Accounting Review, Management Science, and Contemporary Accounting Research. She has been recognized with the American Accounting Association's Notable Contribution Award (2006) and with the American Accounting Association's Management Accounting Section's Notable Contribution to the Literature Award (2003, 2006, 2012) and the Greatest Influence on Practice Award (2010). Professor Anderson's research has been funded by competitive grants from the AICPA, the Institute of Internal Auditors, the Institute of Management Accountants, the National Science Foundation, and the Australian Research Council.
Professor Anderson has previously held faculty positions at the University of Michigan and Rice University. She has also held visiting faculty appointments at Harvard Business School and the University of Melbourne. Earlier in her career, she worked as an engineer for General Motors Corporation.
Mr. Trautman leads the media and entertainment practice of Bortz Media & Sports Group, with more than 30 years of experience and an analytical focus on all aspects of media – including video programming, industry, firm- and product-level performance and prospects, market forecasting and trends, and audience behavior. He has provided both consulting and expert witness services to a wide range of corporations, including Comcast, Discovery Communications, Disney/ESPN, Gannett, Major League Baseball, and TiVo. He has also submitted testimony before the US Copyright Royalty Judges, the Canadian Copyright Royalty Board, and the Federal Communications Commission. Mr. Trautman’s testimony has covered industry and business strategies and trends; valuation in relation to programming and other media assets; and market analysis of media industries. His consulting assignments have focused on business strategies, competitive assessments, and market research, as well as the ways in which media technologies and consumer behavior intersect. Mr. Trautman is the author of Unleashing Connectivity and Entertainment in America: A Study of the Cable Industry’s Impact and Public Television’s Transition to a Digital Future, as well as other writings on television and digital broadcasting.
Ms. Comstock has extensive experience applying economic and financial analyses to litigation and other complex business situations. She has assisted clients in all phases of the litigation process, including fact and expert discovery, trial preparation, and settlement negotiations. Ms. Comstock’s case work has involved litigation related to the high-profile bankruptcies of several firms. She has provided consulting support and supported experts in cases related to the alleged manipulation of different benchmark rates, including evaluations of the effects of alleged manipulation on the value of different derivatives and securities. She has also provided consulting and expert support in matters involving alleged violations of Rule 10b-5 and Section 11, and on matters related to mortgage-backed securities. Ms. Comstock has supported experts in ERISA-related litigations, alleged breach of contract matters, and other business and valuation disputes.
Mr. Yenikomshian specializes in technology, data analysis, and economic modeling, and has consulted on technical, economic, and strategic issues to companies in a variety of industries, including computer software and technology, cybersecurity, blockchain and cryptocurrency, pharmaceuticals, and medical insurance. He has extensive experience analyzing technical issues, such as those relating to software and internet technologies, and translating them to a lay audience. Mr. Yenikomshian has analyzed the flows of data from user devices to third-party service providers such as analytics and advertising companies. He testified on behalf of the US Department of Justice in its criminal indictment of Jitesh Thakkar, who allegedly designed and sold a software program that assisted a commodities trader who was engaged in spoofing. In this matter, Mr. Yenikomshian’s role was to determine whether the software program that Thakkar produced operated the way that the trader’s requirements document had specified. He provided a detailed demonstration of how the requirements for the order types were translated into a software program by walking the court through the actual lines of code that implemented the requirements. Mr. Yenikomshian has also conducted numerous other software code reviews in a range of matters. In addition, he has developed interactive software tools to help clients make strategic decisions. Mr. Yenikomshian is a member of the American Bar Association and serves as co-chair of its Biotechnology, Healthcare Technology, and Medical Devices Committee. Previously, he served as co-chair of its Big Data Committee and Data Science Working Group, as well as vice chair of its Artificial Intelligence and Robotics Committee. Prior to joining Analysis Group, Mr. Yenikomshian was a partner in a software development and staffing technology firm.