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Expert Witness 2016


Speaker(s): Blair G. Connelly, Daniel L. Berger, Edward H. Rosenthal, Hon. Vincent L. Briccetti, Joanna C. Hendon, John D. Montgomery, Kenneth I. Schacter, Lassaad Adel Turki, Lucy P. Allen, Marcy Ressler Harris, Mary Gail Gearns, Paul Hinton
Recorded on: Jun. 27, 2016
PLI Program #: 150043

Daniel L. Berger is a director at Grant & Eisenhofer. Prior to joining the firm, Mr. Berger was a partner at two major plaintiffs’ class action firms in New York, including Bernstein Litowitz Berger & Grossmann (BLBG), where he had litigated complex securities and discrimination class actions for twenty two years.

Mr. Berger’s experience includes trying three 10b-5 securities class actions to jury verdicts, which are among very few such cases ever tried. He also served as principal lead counsel in many of the largest securities litigation cases in history, achieving successful recoveries for classes of investors in cases including In re JPMorgan Chase & Co. Securities Litigation ($150 million);  In re Merck Vytorin/Zetia Securities Litigation ($215 million); In re Cendant Corp. Securities Litigation ($3.3 billion); In re Lucent Technologies, Inc. Securities Litigation ($675 million); In re Bristol-Myers Squibb Securities Litigation ($300 million); In re Daimler Chrysler A.G. Securities Litigation ($300 million); In re Conseco, Inc. Securities Litigation ($120 million); In re Symbol Technologies Securities Litigation ($139 million); and In re OM Group Securities Litigation ($92 million).

Mr. Berger has successfully argued several appeals that made new law favorable to investors, including In re Suprema Specialties, Inc. Securities Litigation, 438 F.3d 256 (3d Cir. 2005); McCall v. Scott, 250 F.3d 997 (6th Cir. 2001) and Fine v. American Solar King Corp., 919 F.2d 290 (5th Cir. 1990.) In addition, Mr. Berger was lead class counsel in many important discrimination class actions, in particular Roberts v. Texaco, Inc., where he represented African-American employees of Texaco and achieved the then largest settlement ($175 million) of a race discrimination class action.

Mr. Berger currently is a member of the faculty of Columbia University School of Law, where he is a Lecturer in Law.  He also serves on the Board of visitors of the Law School. Previously, Mr. Berger was a member of the Board of Managers of Haverford College from 2000-2003.  He also now serves as the Co-Chair of the Board of GO Project, a not-for profit organization that provides academic support for New York City public school students, and also serves as a Member of the Board of Grace Church School in New York.  He also served on the Board of in Motion, Inc., a non-profit organization providing legal services to victims of domestic violence, for six years.

Mr. Berger is a 1976 graduate from Haverford College, and graduated in 1979 from Columbia University School of Law.

 

Education:

  • Columbia University Law School, J.D. (1979)
  • Haverford College, B.A., (1976)

 

Admissions:

New York, U.S. Court of Appeals for the 1st Circuit, U.S. Court of Appeals for the 2nd Circuit, U.S. Court of Appeals for the 3rd Circuit, U.S. Court of Appeals for the 6th Circuit, U.S. Court of Appeals for the 7th Circuit, U.S. Court of Appeals for the 9th Circuit, U.S. District Court for the Southern District of NY, U.S. District Court for the Eastern District of NY


Edward H. Rosenthal chairs the firm’s Intellectual Property and Litigation Groups. He focuses on intellectual property litigation, emphasizing trademark, copyright, right of publicity, advertising, privacy and publishing matters. His clients include businesses and individuals in the media, advertising, sports, and entertainment fields. Mr. Rosenthal is listed in Best Lawyers in America, Chambers USA America’s Leading Lawyers for Business, and The Legal 500, and he has been named a New York-area “Super Lawyer” for Intellectual Property and by Super Lawyers magazine for eight consecutive years. He is also a certified mediator. Mr. Rosenthal was named one of 19 “Topflight IP Attorneys” in the 2013 Client Service All-Stars Report by BTI Consulting Group.

Mr. Rosenthal also has substantial involvement in issues relating to trademark prosecution and enforcement, representing numerous businesses and individuals in protecting and enforcing their intellectual property. He also represents the estates of deceased celebrities, including Humphrey Bogart, and handles licensing work for the estate and other celebrities and companies.

Mr. Rosenthal represented The Authors Guild and a number of other authors’ rights associations and individuals in suits against Google and the HathiTrust arising out of Google’s mass book digitization and orphan works programs. He defended Fredrik Colting, author of 60 Years Later: Coming Through the Rye, and his U.S. distributor, in a lawsuit brought by J.D. Salinger alleging copyright infringement. Mr. Rosenthal also successfully defended J.K. Rowling and Scholastic Inc., the author and publisher of the Harry Potter books, against claims of copyright and trademark infringement.

Mr. Rosenthal has written and lectured extensively on a wide variety of intellectual property topics. He is a regular presenter to the Practicing Law Institute on the Right of Publicity, and has participated in numerous panels on trademark and copyright law. He was co-editor of Entertainment Law Matters , a blog focused on disputes and developments in the film, television, publishing, theatre, music, art, gaming, and fashion industries. Mr. Rosenthal has also been active in the Copyright Society of the U.S.A. and the International Trademark Association. He serves as co-chair of the Committee on Publicity, Privacy and media of the New York State Bar Association’s Entertainment and Sports Law Committee and as a member of the Copyright Committee of the New York City Bar.

Prior to joining Frankfurt Kurnit Klein & Selz, Mr. Rosenthal served as a law clerk to Hon. Abraham D. Sofaer in the Southern District of New York and was associated with the New York law firm of Kramer Levin Naftalis & Frankel. He was Adjunct Professor at Fordham Law School (Legal Writing, 1985-1986; Intellectual Property Drafting, 1996), and is a graduate of the University of Pennsylvania (BA, 1976) and Columbia University (JD, 1980), where he was Notes and Comments editor of The Columbia Law Review. He is admitted to practice in New York.


John Montgomery is a Managing Director with Navigant Economics.

As an expert in financial economics, banking and financial regulation, valuation, macroeconomics, and international finance, he serves as an expert witness; provides expert reports, affidavits, and depositions; and conducts complex economic, financial, and statistical analyses.

Representative experience includes:

  • Analysis of issues related to corporate financial litigation, including minority interests, M&A transactions, and share repurchase programs
  • Valuation of corporate liabilities, including issues related to corporate bankruptcy, and of company stock and debt obligations for securities class actions
  • Analysis for numerous insider trading cases on behalf of prosecutors and defendants
  • Projects related to regulatory investigations of stock exchanges, including latencies of data feeds and access to hidden orders
  • Expert opinions and analyses addressing damages, price impact, loss causation, and market efficiency in shareholder class actions
  • Expert opinions and analysis related to employer stock, 401(k) fees, and decisions to change investment options in Employee Retirement Income Security Act of 1974 (ERISA) class actions
  • Analysis of issues related to the management of investment portfolios and investment companies and issues related to disclosure by investment companies and broker-dealers
  • Valuation of employer stock options, basket options, and other derivatives
  • Statistical and econometric analysis of large data sets for financial litigation and regulatory projects

In the areas of international finance and macroeconomics, John has provided support on the response of governments to systemic banking and financial problems during crises, including expert opinions related to the Eurozone crisis. As a member of the International Monetary Fund’s capital markets surveillance team, he identified regulatory issues of systemic concern in key markets around the world and worked on international economic forecasting models. He has provided expert testimony related to macroeconomic developments in the United States and has analyzed macroeconomic developments and policy in European economies. At Morgan Stanley, John was a senior member of the firm’s global economics team, developing innovative, market-leading analyses of international capital flows and their connections with global foreign exchange, fixed income, and equity markets. He is a former member of the Federal Reserve’s international forecasting team and was the senior staff economist for international economics at the President’s Council of Economic Advisers, for which he represented the U.S. government at international economic policy meetings.

John earned a Ph.D. in economics at Princeton University, an M.Sc. in economics from the London School at Economics, and graduated cum laude with a B.A. in economics from Yale University. Before getting his Ph.D., John worked as a securities analyst, valuing equities of companies in various industries. He has written articles on banking and financial regulation and on international finance, and taught courses on U.S. bank regulation and on international finance.


Kenneth I. Schacter is an experienced trial lawyer who handles a broad range of civil and white collar criminal matters. His practice emphasizes securities litigation; complex criminal, antitrust and civil RICO matters; SEC proceedings; intellectual property litigation; and other business litigation. Ken has trial experience before juries, judges and arbitration panels throughout the United States. He has tried more than 30 cases to verdict or award and has also argued dozens of appeals.

Ken gained valuable experience as an Assistant U.S. Attorney for the Southern District of New York, handling many groundbreaking insider trading cases, including the so-called “Yuppie Five” case and major prosecutions of other corporate insiders. While an Assistant U.S. Attorney, Ken also investigated and prosecuted cases involving financial frauds, tax evasion, official corruption, arms smuggling and terrorism.


Lassaad Adel Turki is a Senior Managing Director at Compass Lexecon based in Washington, DC and New York. Prior to joining Compass Lexecon, Dr. Turki was a Senior Vice President at Cornerstone Research where he was also the Head of the firm’s domestic and international finance practice. During his time at Cornerstone, Dr. Turki has been retained to analyze class certification, merits and damage issues in hundreds of securities fraud suits. He has also performed economic studies on major financial issues to assist defendants being investigated by the Securities and Exchange Commission, the Consumer Fraud Protection Bureau, the Department of Justice, and presented his findings to these  and other regulatory bodies.  He has also been retained to assist with internal investigations in high profile matters involving insider trading, front running and Ponzi scheme allegations. His vast experience also includes takeover litigation and merger challenges including attempts to terminate mergers based on alleged material adverse events.  In addition, Dr. Turki has been retained as an expert in dozens of ERISA cases and testified as a damages expert in some of the most high profile matters that went to trial. Dr. Turki has led teams of consultants and experts working on some of the most complex securities cases in the United States, such as In re AOL Time Warner Inc. Securities Litigation, In re Vivendi Universal S.A. Securities Litigation, In re MBNA Securities Litigation, and Freidus v. ING Groep N.V.

He has provided valuations and testified in R. William Becker and Mary Ann Becker v. Commissioner of Internal Revenue, using a Monte Carlo simulation to estimate the past value of a noncompete agreement. He has also testified in U.S. Horticultural Supply Inc. f/k/a E.C. Geiger, Inc. v. The Scotts Company and Griffin Greenhouse Supplies, Inc. Defendants in actions investigated by the Securities and Exchange Commission (SEC) have retained Dr. Turki to consult on major financial issues, including submission of white papers to the SEC’s Wells Committee recommending investigations.

He has managed cases involving merger challenges and allegations related to delayed or terminated acquisitions, such as Rohm & Haas Co. v. Dow Chemical Co., SLM Corp. (Sallie Mae) v. J.C. Flowers II LP, Kahn v. Tremont et al., IBP, Inc. v. Tyson Foods, Inc. Dr. Turki has been retained as an expert in more than fifty ERISA cases, and testified in the few cases that went all the way to trial including DiFelice v. US Airways, Inc. and Charles Fisher et al. v. ABB Inc. et al. In the putative class action Ann I. Taylor et al. v. KeyCorp et al., he demonstrated that the representative plaintiff benefited from the alleged inflation in KeyCorp stock, defeating class certification.

He has expertise in derivatives, structured finance, and asset securitizations, including mortgage-backed securities and collateralized debt obligations. He has advised a defendant in the civil litigation surrounding the Orange County, California, loss of over $1.5 billion on structured notes.

Dr. Turki was previously on the faculty of Purdue University and Stanford University, where he earned his Ph.D. degree.


Lucy P. Allen is Managing Director at NERA Economic Consulting.  At NERA, Ms. Allen directs projects in securities, finance, and the economics of product liability. She has performed valuations of privately-held companies, subsidiaries, and thinly-traded securities, and has assessed liability, materiality, and damages in over 100 securities litigation cases. She has analyzed issues related to subprime lending, ERISA claims, and alleged market manipulation and insider trading including complex financial instruments such as credit derivatives. In the area of tort economics, she has estimated the number and value of claims likely to arise from allegedly defective or harmful products, including asbestos, medical products, and building materials.
  
Ms. Allen’s recent experience includes expert testimony in the healthcare, banking, information technologies, consumer products, telecommunications, and oil and gas industries.

Ms. Allen has a long history of testifying in high profile cases, including testifying as Halliburton’s expert for the securities class action that went to the Supreme Court twice. She has testified at trials in Federal District Court, Bankruptcy Court, before the American Arbitration Association and the Judicial Arbitration Mediation Service, and in depositions. In the area of finance and securities, she has testified on issues including:

  • Market efficiency, class conflicts, and other issues regarding class certification
  • Loss causation, materiality, and damages
  • Settlement values in securities class action suits
  • Valuation

Before joining NERA, Ms. Allen was a staff economist at the Council of Economic Advisers for both President George H.W. Bush and President Clinton, providing economic analysis on regulation and health care policy issues. Prior to that, she worked as a management consultant for five years, where she formulated marketing, organization, and overall business strategies for clients in a broad range of industries.

Ms. Allen earned an A.B. degree from Stanford University, an M.B.A. with a concentration in finance and accounting from Yale University and M.A. and M.Phil. degrees in Economics also from Yale University.


Marcy Ressler Harris, a partner in the New York office of Schulte Roth & Zabel, concentrates her practice in the areas of securities enforcement and securities fraud litigation for alternative investment managers. Marcy has successfully represented individuals and entities against claims of insider trading, market manipulation, disclosure violations, mispricing and improper valuations. Marcy also has an active litigation practice on behalf of fiduciaries, family members, and charitable beneficiaries in trusts and estates disputes, will contests and contested guardianships. Since December 2008, Marcy has been defending Jeffry M. Picower and his estate and affiliated parties against actions stemming from the collapse of Bernard L. Madoff Investment Securities LLC.  Previously, Marcy represented Sterling Stamos in lengthy clawback litigation brought by the receiver for the Bayou Group, LLC and Bayou Superfund, LLC.  During nearly 30 years at the firm, she has litigated in federal and state courts in New York and elsewhere, conducted civil and criminal trials, represented clients in arbitrations and mediations, provided litigation and regulatory compliance counseling, and conducted internal investigations on behalf of charitable and corporate officers and directors.

Marcy graduated magna cum laude from Yale University with a B.A. degree and received her J.D. degree from New York University School of Law.  Formerly a professional journalist, she is a member of the bars of Connecticut and New York, the U.S. District Courts for the Southern and Eastern Districts of New York, and the U.S. Court of Appeals for the Second Circuit.


Mary Gail Gearns is co-leader of the litigation practice in New York. Her practice includes all aspects of complex commercial litigation, with a focus on securities litigation and enforcement matters. Mary Gail regularly represents clients in investigations by the SEC, FINRA, state attorneys general, and various other regulators, and she has substantial experience conducting internal investigations, including whistleblower investigations.

Many of Mary Gail’s matters involve parallel proceedings by multiple regulators and follow-on civil litigation. Her clients include banks, broker-dealers, investment advisers, hedge funds, and other public and private companies, as well as members of their senior management. Several of her recent matters have concerned alleged disclosure fraud related to the sale and marketing of complex financial products and securities, market manipulation, insider trading, sales practice violations, false claims made to the government, violations of federal and state consumer protection statutes, and RICO violations. During her more than thirty years of practice, Mary Gail has litigated in federal and state courts throughout the country, including through trial and appeal, and she has handled numerous FINRA and other arbitrations through the issuance of the final award.

Mary Gail is a frequent author and lecturer on securities law issues and other topics related to her practice.


Vincent L. Briccetti was appointed a United States District Judge for the Southern District of New York by President Barack Obama in 2011.

Judge Briccetti is a graduate of Columbia College and Fordham Law School.  At Fordham, he was Articles Editor of the Law Review.  He later served as a law clerk to Judge John M. Cannella of the Southern District of New York and as an Assistant United States Attorney in the Southern District.  As an AUSA, he served as Deputy Chief Appellate Attorney and received the Director’s Award for Superior Performance from the Executive Office of United States Attorneys.

In 1992, Judge Briccetti founded his own law firm in White Plains, the focus of which was criminal defense.  He has lectured at numerous professional conferences on various subjects, including criminal law and procedure, federal civil practice, the federal Sentencing Guidelines, the representation of controversial clients, ethics, and the “art” of cross-examination.  Judge Briccetti is also an Adjunct Professor at Fordham Law School, where he teaches a course on federal sentencing law.  

In 2011, the New York State Bar Association awarded Judge Briccetti its David S. Michaels Award for Courageous Efforts in Promoting Integrity of the Criminal Justice System. 


Blair Connelly is a partner in the New York office of Latham & Watkins, where he focuses his practice on M&A litigation, securities litigation and corporate governance. Mr. Connelly has represented issuers, financial institutions, boards of directors and individuals in numerous high-profile securities, merger and takeover disputes and indemnity claims, and has had extensive involvement in large, complex internal investigations, derivative actions, class action lawsuits and SEC investigations. Mr. Connelly also has experience in complex insurance coverage and professional liability litigation. Mr. Connelly was recognized as a top litigator by Super Lawyers in 2006, 2007, 2008 and 2013.

Mr. Connelly received his JD from Georgetown University Law Center and his BA from Georgetown University. He is qualified to practice in New York and California.


Joanna C. Hendon is a partner at Spears & Imes LLP.  She has been a litigator for more than 20 years, with substantial trial experience.  Ms. Hendon regularly represents individuals and entities in white collar and civil investigations and in complex litigation.  Between 2012 and 2014, she represented the former Dell Inc. employee accused of leaking confidential information to securities analysts, at the heart of the government’s prosecution in United States v. Newman, et al., 773 F.3d 438 (2d Cir. Dec. 10, 2014), cert. denied, 136 S. Ct. 242 (2015).  In 2011, Ms. Hendon tried  the first of the “expert network” insider trading cases litigated in the Southern District of New York, United States v. Jiau, 11 Cr. 161 (JSR).  Early in her career, Ms. Hendon was a federal prosecutor in the Southern District of New York, where she served in the Securities and Commodities Fraud Unit and prosecuted cases involving securities fraud, bribery, mail and wire fraud, and tax fraud.  In 2000, Ms. Hendon received the U.S. Attorney General’s John Marshall Award, the Department of Justice’s highest award for excellence at trial.  For the past seven years, Ms. Hendon (with Evan Barr of Steptoe & Johnson LLP) has chaired the White Collar Litigation Committee of the New York State Bar Association.  For the past three years, Ms. Hendon has taught as a guest lecturer on securities fraud and insider trading at the Yale Law School.  She is a member of the New York Council of Defense Lawyers and a member of the Advisory Board of the Yale Law School Center for the Study of Corporate Law.  Ms. Hendon speaks regularly on panels focused on securities fraud and insider trading.


Paul Hinton is a Principal of The Brattle Group located in New York City. He is a member of the Securities Practice and has testified as an expert on finance and economics in securities class actions, broker-customer disputes and commercial litigation.  His 20 years of experience in economic consulting most recently includes work on alleged market manipulation, insider trading in the Starr v. U.S., the Lehman securities litigation and the MF Global bankruptcy.  Topics of his recent publications include the lessons from the Halliburton II class cert decision and high frequency trading.