Dr. Kumar is an economist with expertise in corporate finance issues including business valuation, securities and market microstructure. Since joining Brattle in 2009, she has conducted financial statement and valuation analysis in bankruptcy disputes, evaluated structured investments in tax litigation, and quantified business damages in a variety of scenarios. Dr. Kumar is also regularly involved in marketing initiatives and litigation projects concerning complex financial instruments. She has co-authored a recent academic journal article on the nature and impacts of high-frequency trading and a previous paper on the credit rating agencies’ role in failed structured finance instruments.
Dr. Kumar’s main areas of focus include bankruptcy, restructuring, and mergers and acquisitions-related litigation, the internal financial management of multinational corporations, and the economic and regulatory implications of recent shifts in financial market structure, including high-frequency trading.
Supported a transfer pricing expert in Nortel Network’s allocation and claims proceeding. Brattle was retained by the pension claimants of Nortel’s UK subsidiary. One issue in the case was whether Nortel’s transfer pricing arrangements reliably reflected the business reality and were at arm’s length. The matter is currently being litigated.
Analyzed economic damages resulting from allegations that a billing system was not implemented per the specifications of the contract. Constructed a model to represent the “but-for” scenario, in order to assess the magnitude of claimed losses due to the alleged breaches of warranty. The matter was litigated in UK courts.
Supported an academic expert in a fraud suit filed against S&P. Assessed the reasonableness of modeling assumptions used to rate structured finance instruments during the credit crisis. Also performed credit risk and cash flow model simulations to determine the impact of changing inputs on ratings. The matter has settled.
Supported Brattle principal Dr. Michael Cragg as testifying expert on behalf of the Liquidation Trustee for a leading title insurance company. At issue was the calculation of losses due to alleged failures of the company’s auditors relating to the financial implications of certain risky investments.
February 16, 2016
Published in Practice Points, a publication of the ABA’s Securities Litigation Committee
Correct Application of Event Studies in Securities Litigation
December 17, 2015
Published in Event Study Tools
Hedge Fund Characteristics and Performance Persistence: Evidence from 1996-2006
April 27, 2015
Published in the Quarterly Journal of Finance (June 2015)
High-Frequency Trading in Litigation
March 26, 2015
Presented to The Knowledge Group
High-Frequency Trading Litigation Presents Complex Issues for Experts
Published by The Brattle Group, Inc. Published on Law360
Computerized and High-Frequency Trading
Published in The Financial Review, Vol. 49, No. 2
Estimating the Cost of Equity for Regulated Companies
February 17, 2013
Prepared for the Australian Pipeline Industry Association
Economic Considerations in Litigation Against the Credit Rating Agencies
Published by The Brattle Group, Inc.
Trading at the Speed of Light: The Impact of High-Frequency Trading on Market Performance, Regulatory Oversight, and Securities Litigation
Published by The Brattle Group, Inc.
Pavitra grew up in the UK and now lives in the San Francisco bay area with her husband. She enjoys playing classical piano and also speaks proficient Spanish.
Massachusetts Institute of Technology Sloan School of Management, Ph.D. in Financial Economics
London School of Economics, B.Sc. in Mathematics and Economics