For more than twenty-five years, Cornerstone Research staff have assisted counsel in a wide variety of class action lawsuits. Our experience and expertise with class certification span a broad spectrum, including antitrust, securities, labor, and product misrepresentation/false advertising.
Economic questions at the class certification stage typically involve (a) whether common evidence can be used to show that all proposed class members were harmed (injured) by the defendant’s alleged illegal conduct, (b) whether each proposed class member’s damages can be calculated using a common formula on a classwide basis, and (c) whether there are potential conflicts of interest among the class members. As shown in the case descriptions that follow, Cornerstone Research approaches these issues both conceptually and empirically.
We have applied our expertise in a wide range of class certification matters. In cases where individual issues have predominated, our clients have relied on our analysis to support the defeat of class certification. Where common issues have predominated, our analysis has been used to support class certification. Cornerstone Research has the experience to address the detailed, complex issues that arise in class certification, and to communicate our findings effectively. We provide clear conceptual thinking, accuracy, and reliability.
Cornerstone Research staff and experts have extensive experience with both direct-purchaser and indirect-purchaser antitrust class actions. Economic research and analysis often prove critical to resolving class certification. For example, a study may analyze the particulars of the alleged conduct, the overall structure of the industry and the market, and the characteristics of individual transactions. We recognize the importance of evaluating these issues through empirical research within a framework of sound economic concepts.
Cornerstone Research has broad experience with class certification issues in securities cases. These cases often turn on the principles of market efficiency and reliance, and we work with top experts in trading behavior. Our securities-related experience also extends to brokerage cases and undisclosed commissions and best execution by investment services firms.
Cornerstone Research has consulted on multiple class certification matters involving labor markets, including antitrust and discrimination cases. Research often focuses on the definition of the relevant labor market(s). The defendant’s ability to cause harm, and that harm’s likely impact on putative class members, will vary because labor markets vary along geographic, job definition, and organizational dimensions. In addition, critical circumstances and facts relevant to class members may differ substantially. Labor matters generally require careful empirical analysis. The pertinent information for these types of detailed analyses may never have been assembled for such a use. In these circumstances Cornerstone Research has offered efficient, insightful use of data and facts that are readily available, as well as helped design original survey tools. Cornerstone Research applies its expertise and creativity, working with counsel to provide compelling, factually supported testimony.
Cornerstone Research staff and experts have played instrumental roles in several cases involving product misrepresentation claims. These cases are diverse, spanning both securities and false advertising issues. Product misrepresentation cases often require expertise in marketing and market research and sometimes involve original survey work to determine consumer attitudes and preferences.