Mr. Benjamin A. Sacks is a Principal in the Washington DC office of The Brattle Group. He has over fifteen years of experience providing expert advice and testimony on the application of economics, finance, and statistics to valuations, damages and determination of liability. Mr. Sacks has assisted corporations, investors, U.S. government agencies (such as the Department of Justice and the Securities Exchange Commission), and foreign governments, in developing and presenting economic and financial testimony in complex litigations and arbitrations. He has critiqued valuations as an expert in litigation matters before courts, and arbitral Tribunals in the United States, and has provided expert testimony in U.S. based arbitrations. He has significant expertise in valuations in a wide variety of industries and countries. Mr. Sacks was the consulting expert for Russia in the Yukos ECT arbitration, where the award was recently set aside by the Dutch Court. Mr. Sacks teaches a Continuing Legal Education course on damages featuring several valuation case studies, has taught classes to attorneys on valuation in the context of International Arbitration, and served as a panelist on damages at the recent Juris International Arbitration conference in Washington D.C.
Mr. Sacks received his B.A. in mathematical economics from Columbia University and his M.A. in economics from the University of Chicago.
Supported expert testimony on quantum in international arbitration on behalf of the Russian Federation in arbitrations under UNCITRAL Rules. Former shareholders of the Yukos Oil Company brought claims alleging unfair treatment and expropriation in violation of the Energy Charter Treaty. The arbitrations are thought to be the largest in the world in amount in dispute, which exceeds $100 billion.
Submitted expert reports and testified at deposition in a derivative suit on behalf of American International Group, Inc. shareholders against the company's former CEO, Maurice Greenberg, and other former AIG executives. The action was concluded for a settlement of $115 million - the largest such settlement in the history of the Delaware Court of Chancery.
Submitted an expert statement in support of a motion to dismiss in litigation alleging a “pump and dump” securities manipulation scheme. The case settled before trial for 1% of claimed damages.
Supported expert testimony on valuation in international arbitration at the LCIA on behalf of a large investment bank. A former bank client refused to pay under terms of a contract with the bank to value and sell the clients assets. The former bank client challenged the validity of the bank’s valuation of the client’s assets. The Tribunal ruled in favor of the bank, awarding both damages and fees.
SEC Administrative Proceeding in the Matter of BioElectronics Corp, et. al., File No. 3-17104
Confidential Arbitration. Valuation of privately held telecommunications firm
State of West Virginia ex rel., Patrick Morrisey, Attorney General v. Wells Fargo Insurance Services of West Virginia, Inc., and Wells Fargo Insurance Services USA, Inc., Circuit Court of Hancock County, WV, Civil Action No. 05-C-115 W
National Credit Union Administration Board, as Liquidating Agent of Central Federal Credit Union v. RBS Securities, et. al, Case No. 11-cv-2340-JWL-JPO and National Credit Union Administration Board, as Liquidating Agent of Western Corporate Federal Credit Union v. RBS Securities CV 11-05887 GW (JEMx)
United States of America, ex rel., Michael Saunders, v. Unisys, Inc., United States District Court for the Eastern District of Virginia, Alexandria Division, Civil Action No 1:12 CV 379 GBL/TCB.
Application of the National Railroad Passenger Corporation under 49 u.s.c. § 24308(a) – Canadian National Railway Company, Before the Surface Transportation Board, Finance Docket No. 35743
Curbow Family LLC v. Morgan Stanley Investment Advisors Inc., Index No. 651059/2010 (Sup. Ct. NY) and Rotz v. Van Kampen Asset Management, Index No. 651060/2010 (Sup. Ct. NY): Expert report in support of Plaintiff’s opposition to a motion for summary judgment
Howard M. Ehrenberg, Chapter 7 Trustee for the Estate of Ruderman Capital Partners, LLC v. Kevin L. Washington, James King and Knight Capital Group, et al., Superior Court of the State of California for the County of Orange, Case No. 30-2011 00450602: Declaration filed in support of defendant’s motion for summary judgment or adjudication of claims
In re Delphi Financial Group Shareholder Litigation, Delaware Court of Chancery, Consolidated C.A. No. 7144-VCG
Wolfson-Verrichia Group, et al., v. Metro Commercial Real Estate, Inc., et al., United States District Court for the Eastern District of Pennsylvania, No. 08-CV-4997
FIFRA data compensation matter
Navy Federal Credit Union v. Fiserv Solutions and XL Specialty Insurance Company, Index No. 09-601217-2009: Affidavit Of Benjamin Sacks in Support of Plaintiff Navy Federal Credit Union’s Motion for Partial Summary Judgment
In re ACS Shareholder Litigation, Delaware Court of Chancery, Consolidated C.A. No. 4940-VCP
FIFRA data compensation arbitration
Eastbanc, Inc. and Anthony M. Lanier v. Georgetown Park Associates II Limited Partnership, et al., Superior Court of the District of Columbia, 2006 CA 002291 B
Teachers Retirement System of Louisiana v. Maurice R. Greenberg, Edward E. Matthews, Howard I. Smith, Thomas R. Tizzio, and C. V. Starr & Co. Inc, Delaware Court of Chancery, C.A. No 20106-VCS
Lessons for Attorneys from Damages War-Stories
February 28, 2012
CLE presentation to New York County Lawyers Association and various law firms, New York, NY
Presentation on corporate governance and self-dealing to the Securities and Exchange Commission
June 17, 2010
Ben grew up in Philadelphia and Savannah, Georgia and now lives in DC with his wife, two kids and two dogs. He enjoys spending time with family, playing squash and tennis, grilling, music, poker and snowboarding.
University of Chicago, M.A. in Economics
Columbia University, B.A. in Mathematical Economics