More than 10,000 federal class action cases were filed last year, covering a range of areas including securities, antitrust, employment, and consumer protection. What do they have in common? They often rely on an economist’s expert analysis and testimony. So how early should you hire an economist to pick through the data?
Guest Jeffrey Klenk, a managing director with the consultant firm Berkeley Research Group (BRG), shares best practices for working with an economist expert witness.
How can an economist help litigators, judges, and juries understand what matters in a case? One way is by dissecting transaction-level data, valuations, and the impact of outside influences you may not have considered. Here’s a spoiler: Klenk says it can be “fiendishly difficult” to not only understand the merits of a case but also the viability as a class action for both the defense and plaintiffs.
From analyzing a case’s potential before filing, to focusing depositions, and to courtroom testimony, an economist can be a litigator’s most valuable tool. When economists and attorneys work together, good things can happen.
Plus, a “quick tip” from Latosha M. Ellis of the firm Hunton Andrews Kurth on professional civility. You don’t have to agree with, or even like, everyone. But remember, what goes around comes around.
