Michael Burton has nearly thirty years of experience in economic and financial analysis of liability and damages issues arising in business litigation. He has led the firm’s work in numerous high-profile matters involving antitrust, breach of contract, business valuation, intellectual property rights, international arbitration, market manipulation, and securities. In these areas, Dr. Burton has worked closely with client attorneys to develop case strategy and to prepare expert testimony on behalf of many leading academic and industry experts. He also has provided expert testimony in the area of business valuation.

Dr. Burton’s experience has included the following:


Assisted counsel (typically defense counsel and joint defense groups) on merger and acquisition investigations and on cases involving allegations of predatory pricing, tying, monopolization, price discrimination, exclusionary conduct, and price fixing. His work has included economic analysis of competition in numerous industries, including healthcare, retail, semiconductors, publishing, energy (natural gas, electricity, coal, petroleum, and petroleum products), manufacturing, and transportation.

Breach of contract

Estimated damages in numerous contract disputes, particularly in the energy industries (power purchase agreements, coal contracts, transportation contracts, etc.).

Business valuation

Provided expert testimony in the U.S. Tax Court, assisted counsel in bankruptcy proceedings and international arbitrations, and consulted on financial damages analyses in numerous commercial disputes.

Intellectual property rights

Led analysis on several high-profile cases, including Polaroid Corporation v. Eastman Kodak Company; Arista Records LLC et al. v. Lime Wire LLC et al.; Medtronic Vascular Inc. v. Advanced Cardiovascular Systems Inc. and Guidant Sales Corp.; and AMD v. Intel.

International arbitration

Assisted counsel in several large international arbitration disputes involving a variety of industries, including telecommunications, aircraft manufacturing, foreign currency trading, and electric power.

Market manipulation

Assisted counsel in internal and regulatory investigations of energy trading operations; led Cornerstone Research’s work on behalf of the joint defense in the California electricity crisis (both the FERC Refund Hearings on California Electricity Markets and private antitrust litigation) and on behalf of the joint defenses in high-profile natural gas price reporting matters, including In re Natural Gas Commodity Litigation and In re Western States Wholesale Natural Gas Antitrust Litigation; worked on behalf of the defense in Energy Transfer Partners; and led efforts on securities market manipulation cases involving short selling and IPO aftermarkets.


Assisted defense counsel with SEC and DOJ investigations and litigations involving issues of disclosure and accounting statements, including United States of America v. David A. Stockman et al. and SEC v. Biovail Corporation, and with cases involving insider trading allegations, including SEC v. Friedman, Billings, Ramsey & Co. Inc.; led our work in cases on behalf of an investment bank in the IPO Allocation matters and in shareholder suits involving accounting issues, including In re DPL Inc. Securities Litigation.