Securities
Overview
Experts
Publications

Brattle's securities litigation experts provide testimony on economics, finance, banking, accounting, regulation, and industry custom and practice.

Our Principals and Academic Advisors have wide-ranging academic qualifications and industry experience. We also draw on a broader network of leading academic and industry experts to meet the needs of particular cases.

Areas of Expertise
Principals
Belanger 053
Principal
+1.617.864.7900
Mr. Belanger provides consulting and litigation support to the financial services industry including both standard of care and industry custom and practice. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Borucki 113
Principal
+1.617.864.7900
Ms. Borucki is a financial economist with experience providing advice and developing expert testimony on the application of corporate finance and economics in both litigation and strategic engagements. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Buckberg search v2
Principal
+1.202.955.5050
Dr. Buckberg provides consulting services and testimony in litigation and regulatory disputes in finance, complex commercial litigation, and bankruptcy and advises parties in public-private partnerships for infrastructure investment. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Cragg13
Principal & Chairman
(Cambridge) +1.617.234.5721
(Toronto) +1.416.360.4849
Dr. Cragg has extensive consulting, research, and expert witness experience in corporate finance, financial services, and valuation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Loannisgkatzimas
Principal
+1.415.217.1057
+1.415.416.8629
Mr. Gkatzimas' primary focus is on the valuation of complex securities and portfolios for both commercial litigation and regulatory matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Webrichgoldberg img 4749
Principal
+1.415.217.1000
Dr. Goldberg specializes in complex litigation in which careful analysis and modeling of economic, business, or financial data is critical. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Graves 060
Principal
+1.617.864.7900
Mr. Graves specializes in regulatory and financial economics, especially for electric and gas utilities, and in litigation matters related to securities litigation and risk management. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Herscovici 087
Principal
Dr. Herscovici specializes in the application of economics, finance, and data analysis to litigation and other complex business issues. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Hinton 035
Principal
+1.212.789.3666
Mr. Hinton has over 20 years of experience directing projects and providing expert testimony in securities litigation and enforcement. Mr. Hinton is an expert on topics in finance, economics, and valuation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Laursen cropped for web search new
Principal
+1.202.955.5050
Mr. Laursen is an expert in financial products and institutions, markets, regulation, and risk management. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
0107 1
Principal
Dr. Ledgerwood is an expert in market competitiveness with an emphasis on the economic analysis of potential market manipulation claims in commodities and securities markets. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Adorialim40 new2
Principal
+1.415.217.1064
+1.415.350.3870
Ms. Adoria Lim is a Certified Public Accountant (CPA) with over 15 years of experience in accounting and finance at a Big 4 accounting firm, a Fortune 500 publicly-traded company, and top-tier and boutique consulting firms. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Oldfield 098 1
Principal
+1.202.955.5050
Dr. Oldfield is an expert in financial economics, including mortgage securitization, trading strategies, market making, corporate bond valuation, financial derivatives, and risk management. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Read 050
Principal
+1.617.864.7900
Mr. Read is an expert in valuation, risk management, and capital budgeting in the energy industry, especially electric power and natural gas. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Sacks 124
Principal
+1.202.955.5050
Mr. Sacks has more than fifteen years of consulting experience in valuation, international arbitration, securities, commercial damages, tax, and product liability matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Sarro 061
Principal
+1.617.864.7900
Dr. Sarro is principal and director of The Brattle Group, and a leader of its practice in cases involving “big data” and document analytics. He is a financial and empirical economist who is the lead consulting expert to investigative and trial teams in complex investigations and high-stakes litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Voetmann 055
Principal
+1.415.217.1007
+1.415.235.5709
Dr. Voetmann focuses on cases that involve complex economic and financial issues. He has worked with clients and experts on securities cases and valuation disputes related to capital markets and financial institutions. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Zhou 082
Principal
+1.617.864.7900
Dr. Zhou is a valuation, corporate finance, and accounting expert with more than 15 years of consulting experience. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisors
Academic Advisor
Dr. Goldstein is Professor of Finance at Babson College, where he holds the Donald P. Babson Chair in Applied Investments. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Graham is a Professor of Finance at the Fuqua School of Business at Duke University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Mr. Holderness is a Professor of Finance at the Wallace E. Carroll School of Management at Boston College and Visiting Professor of Finance at the Sloan School of Management at MIT. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Lie is an Associate Professor of Finance and Henry B. Tippie Research Fellow at University of Iowa, where he teaches investment banking and corporate finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dennis Logue is chair of the board of directors at Ledyard National Bank in Hanover, New Hampshire and a professor emeritus at Dartmouth College. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Madansky is the H.G.B. Alexander Professor Emeritus of Business Administration in the Graduate School of Business at The University of Chicago. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Sundaresan is the Chase Manhattan Bank Professor of Economics and Finance at Columbia University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Weisbach is the Ralph W. Kurtz Chair in Finance at the Fisher School of Business at The Ohio State University and a research associate at the National Bureau of Economic Research. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Williams bio search
Academic Advisor
Professor Williams, a risk management expert, teaches finance and economics at Boston University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Consultants
Senior Consultant
+1.212.789.3650
Mr. Freed has provided consulting and expert services in the areas of financial products and markets, valuation and risk management, and media finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Consultant
Branko Jovanovic specializes in providing economic analysis and expert testimony in the areas of securities and finance, and consumer protection across a wide range of industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Associates
Aharonian 077
Senior Associate
(Cambridge) +1.617.864.7900
(Toronto) +1.416.360.4849
Dr. Aharonian has extensive consulting and research experience with financial issues involving securities pricing, business valuation, risk management, capital markets, and corporate finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Barza
Senior Associate
+44.20.7406.7900
Dr. Rachael Barza has worked on cases concerning valuation and damages, state aid, abuse of dominance, cartels, and acquisitions, before the European Competition Commission and various European high courts. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Web photo december 2015 new5
Senior Associate
+1.202.955.5050
Mr. Dave focuses on cases that involve complex economic and financial issues. He has worked with clients and experts extensively on securities and valuation matters related to capital markets and financial institutions. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Defonseka 041
Senior Associate
+1.617.864.7900
Jehan deFonseka specializes in leading teams in complex business litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Hutchings 063 pp
Senior Associate
+1.416.360.4849
Mr. David Hutchings specializes in the economic analysis of complex business transactions. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Kumar 066
Senior Associate
+1.415.217.1000
Dr. Kumar is an economist with expertise in corporate finance issues including business valuation, tax, and transfer pricing. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Mcknight david 0034
Senior Associate
+1.212.789.3650
Mr. McKnight has over 14 years of experience in economic consulting in litigation and advisory engagements pertaining to securities and finance litigation, product liability, bankruptcy, and commercial disputes. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Nunez web
Senior Associate
+1.202.955.5050
Dr. Nunez has corporate and consulting experience in finance, valuation, and trading. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Polek 083
Senior Associate
+1.617.864.7900
Dr. Christine Polek has over ten years of professional experience in the expert witness consulting industry. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Stirzaker
Senior Associate
+44.20.7406.7900
Mr. Stirzaker is an economics and financial expert, with experience valuing businesses and financial instruments across a range of industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Article
The Bid-Ask Spread in the Danish Stock Market: Evidence from the 1990s
August 25, 2016
Published in the International Journal of Economics and Finance

The paper investigates the cost components of the bid-ask spread and the changes in the spread around earnings announcements on the small Danish stock market in the 1990s.

Article
May 27, 2016
Torben Voetmann, Jan Jindra, and Ralph A. Walking
Published in the Quarterly Journal of Finance
Article
February 16, 2016
Published in Practice Points, a publication of the ABA’s Securities Litigation Committee
Article
December 22, 2015
Published in Law360
Article
Correct Application of Event Studies in Securities Litigation
December 17, 2015
Published in Event Study Tools
Article
December 9, 2015
Published in the ABA’s Securities Litigation Journal
Article
December 2015
Published in Practice Points, a publication of the ABA’s Securities Litigation Committee
Article
Making the Most of Document Analytics
December 1, 2015
Published in Law360
Article
November 12, 2015
Published in Practice Points, a publication of the ABA’s Securities Litigation Committee
Presentation
High-Frequency Trading in Litigation
March 26, 2015
Paul Hinton, Pavitra Kumar, and Lauren J. Schreur
Presented to The Knowledge Group
Article
Equity Market Microstructure and the Challenges of Regulating HFT
January 16, 2015
Published in Financier Worldwide
Article
High-Frequency Trading Litigation Presents Complex Issues for Experts
June 2014
Zachary Ziliak, Pavitra Kumar, and Torben Voetmann
Published by The Brattle Group, Inc. Published on Law360
Article
Computerized and High-Frequency Trading
May 2014
Published in The Financial Review, Vol. 49, No. 2
Presentation
A Framework for Market Manipulation Compliance and Enforcement
January 2014
Presented to the Houston Chapter of the Energy Bar Association, Houston, TX
Article
What Makes Securities Class Actions with Accounting Allegations Different?
2011
Elaine Harwood , Adoria Lim, and Laura Simmons
Published by the American Bar Association
Book
Banking Entity Trading Under the Volcker Rule
2011
Published on Advisor Perspectives
Newsletter
Trading at the Speed of Light: The Impact of High-Frequency Trading on Market Performance, Regulatory Oversight, and Securities Litigation
2011
Published by The Brattle Group, Inc.
Newsletter
Out of the Frying Pan and Into the Fire: Will the Dodd-Frank Swaps Proposal Reduce Systemic Risk?
2011
George S. Oldfield and Julia Litvinova
Published by The Brattle Group, Inc.
Article
The Changing Landscape For Credit Ratings
October 18, 2010
Steven Herscovici and William Chambers
Published in Securities Law360
Presentation
Presentation on corporate governance and self-dealing to the Securities and Exchange Commission
June 17, 2010
Presentation
Credit Rating Agencies and the Credit Crisis: What Securities Attorneys Need to Know
April 13, 2010
Steven Herscovici and William Chambers
Webinar Presentation
Newsletter
Understanding the Credit Crisis Part 2: Getting Down the Mountain
2009
Published by The Brattle Group, Inc.
Report
Expanding Subprime Mortgage Crisis Increases Litigation Risks
March 2008
Published by The Brattle Group, Inc.
Newsletter
Understanding the Credit Crisis: The Treasury, the Fed, and the Banking System
2008
Published by The Brattle Group, Inc.
Report
Just Lucky? A Statistical Test for Option Backdating
March 27, 2007
Published by Social Science Research Network, No. 977518
Newsletter
Subprime Mortgage Problems: What to Look For and Where to Look
2007
Published by The Brattle Group, Inc.