We present two new papers by our experts – Ph.D.s Charles Cowan, Adrian Cowan, and Sean Malone, Ph.D.. They appear in The Comprehensive Guide to Economic Damages, 6th Edition.
The Comprehensive Guide to Economic Damages, 6th Edition combines the economic expert’s knowledge of damages calculations and methods with legal and case analysis.
Use of Statistical Analysis to Measure Damages. By Charles Cowan, Ph.D.
“Statistical analysis is used frequently to determine both liability and damages for a wide range of types of financial harm. In fact, the only way one can prove that there has been an injury or harm may be through the use of statistical analysis.”
Event Studies in Securities Litigation. By Adrian M. Cowan, Ph.D., Paul J. Seguin, Ph.D., & Sean Malone, Ph.D.
“Event studies employ statistical methods to assess the impact of a given event on the price of a firm’s securities and have become increasingly important in securities fraud litigation since the Supreme Court’s 2014 decision in Halliburton Co. v. Erica P. John Fund, Inc.1 (Halliburton II, hereafter). Event studies can have a substantial impact on matters of reliance, materiality, loss causation, and damages—the fundamental elements of any securities action.”
IMPACT MEASUREMENT: CASCADING IMPACTS FROM THE OPIOID CRISIS. By Charles Cowan, Ph.D.
Calculating losses suffered by cities and counties requires cognizance of their internal data systems, a sense of where and what to count, and how to apply analytic models developed specifically for these types of problems. The key is to use systems that cities or counties already have in play.
ANTITRUST DAMAGES IN FINANCIAL MARKETS. By John Wald, Ph.D.
Financial Economist John Wald, Ph.D. shares his insight into the application of standard regression methods to three different financial market cases. He concludes with a discussion on the implications of price clustering in financial markets. Dr. Wald’s published papers have garnered several awards.
In class actions, part of the case revolves around the number of persons who were damaged or who might be damaged in the future. For damages in these cases, it is also important to know how many claims might be filed. In asbestos cases, for example, there are analytical questions about how many people were exposed to asbestos in the past, the number of those people who might develop an asbestos related impairment, and of that set how many might file a claim.
We estimate economic damages and evaluate opposing claims of damages in cases involving toxic exposure, product liability, and intellectual property. We have experience with using biostatistical methods for forecasting injuries that occur over long periods of time to populations that are mobile and aging. Using rigorous demographic and biometric techniques, we provide our clients with estimates of the sizes of exposed populations, extent of exposure, and likelihood of claims.