2024 Technology Economics Competition (TEC) Institute Summit, Brussels

We work with clients in all phases of litigation, regulatory inquiries and arbitrations. Our European team, together with our global firm resources, are committed to providing consistently high-quality analyses and expert testimony.

We are privileged to work on a wide range of our clients’ most high-profile matters. Our approach uses the experience of our staff to support world-class academic, industry and in-house experts.

Featured Experts

Featured Experts

Terrence Hendershott

Professor and Willis H. Booth Chair in Banking and Finance,
Haas School of Business,
University of California, Berkeley

Terrence “Terry” Hendershott is a recognized authority on market microstructure, market manipulation, and the structure of financial markets. Professor Hendershott’s academic research focuses on financial market design, structure, and competition; and how the activities of market participants affect price discovery and liquidity. He is an expert on a range of financial instruments, trading both on exchanges and over the counter. Professor Hendershott’s research has been published in leading academic journals and has received numerous awards.

Professor Hendershott has extensive testifying experience, including in depositions, arbitrations, and trials. He has provided testimony in cases involving a wide range of market microstructure issues. He has analyzed claims related to market manipulation and disruptive trading, high-frequency and algorithmic trading, trading execution, financial market design, as well as market efficiency and price discovery.

In the context of antitrust litigation, securities litigation, regulatory enforcement actions, and commercial disputes, Professor Hendershott has addressed class certification, loss causation, and damages issues. His consulting and testifying experience encompasses U.S. and international financial markets, including equities, exchange-traded funds, corporate and government debt, commodities, foreign exchanges, futures, and other products.

In his academic research, Professor Hendershott examines the design, regulation, and structure of stock exchanges, electronic communications networks, and over-the-counter markets. He has analyzed how different market participants, such as market makers, high-frequency traders, and institutional investors, affect price discovery and liquidity. In that context, he has also analyzed the interplay of and competition between electronic and traditional markets, as well as the role of information technology.

Professor Hendershott has received numerous honors for his research. These include the Michael J. Brennan Award for the best paper published in the Review of Financial Studies; the New York Stock Exchange best paper on equity trading, awarded by the Western Finance Association; the Outstanding Publication Award from the Financial Review; and the NASDAQ Award for the best paper on market microstructure, awarded by the Financial Management Association International. He has served as an associate editor for the Journal of Financial EconomicsManagement Science, the Journal of Financial Markets, and Information Systems Research.

Professor Hendershott chaired the NASDAQ Economic Advisory Board and served as a visiting economist at the NYSE.

Featured Experts

Vivek Mani

Vice President

Vivek Mani has over a decade of experience leading teams and consulting to clients on regulatory and litigation issues involving competition. His expertise includes collective actions, cartels, and mergers in Europe and the United States. Mr. Mani’s competition experience covers a range of industries, including automobiles, financial institutions, pharmaceuticals, retail, and telecommunications. Who’s Who Legal has recognized him as a Future Leader in the competition field.

Competition in financial markets

Mr. Mani consults to clients on class certification/collective action issues in antitrust matters in U.S. and UK financial markets. He has analyzed price fixing allegations related to asset and benchmark prices, as well as bid-ask spreads for financial instruments across various trading platforms. Mr. Mani has conducted empirical analyses of large proprietary datasets in the context of price fixing allegations.


Mr. Mani has consulted to pharmaceutical clients on numerous matters, including breach of contract, antitrust, product misrepresentation, and securities and intellectual property. He has addressed issues related to drug development, drug pricing and reimbursement, brand-to-brand competition, generic competition, and damages.

Mr. Mani has testified at an arbitration hearing on damages issues in a life sciences matter.

Merger reviews

Mr. Mani leads merger review teams for the merging parties in the U.S. and Europe. He has assessed horizontal and vertical issues arising in a range of industries, including industrial goods, retail, technology, and telecommunications. Mr. Mani also has experience in sampling and survey design, and in conducting and critiquing surveys as part of Phase II merger inquiries in Europe.

On both sides of the Atlantic, Mr. Mani publishes and speaks extensively on topics related to class certification and collective actions, economic issues in the pharmaceutical industry, and merger analyses.

Mr. Mani has served as a member of Cornerstone Research’s Diversity, Equity, and Inclusion (DEI) Council.

Featured Experts

Anja Lambrecht

Professor of Marketing,
London Business School

Anja Lambrecht is an authority on the digital economy, digital marketing, and algorithmic bias. Using econometric methods and field experiments, Professor Lambrecht researches issues related to online advertising, promotion, pricing, and consumer behavior on the internet.

In her recent work, Professor Lambrecht has investigated apparent algorithmic bias and discrimination on digital platforms. She has conducted award-winning research that evaluates the performance of dynamically targeted online advertising, as well as its impact on consumers’ decisions. Professor Lambrecht also addresses a range of topics related to digital pricing, notably freemium strategy in mobile app markets, and how nonlinear pricing affects consumers’ choice and usage behavior.

She has presented her research in a variety of settings, and has participated in panel discussions at the Federal Trade Commission on privacy regulations and their impact on competition and innovation. She has also presented at the European Commission on the economics of competition in data markets.

Professor Lambrecht’s articles have been published in the Journal of Marketing ResearchMarketing Science, and Management Science. The Journal of Marketing Research honored her with both the William F. O’Dell and the Paul E. Green best paper awards for significant contributions to marketing research, methodology, and/or practice. She has served on several editorial boards, and is associate editor at Marketing Science and the Journal of Marketing. The Marketing Science Institute has recognized Professor Lambrecht as one of the most promising scholars in the field of marketing.

At London Business School, Professor Lambrecht teaches courses in marketing, online advertising, and price discrimination. Previously, she held visiting academic positions at the UCLA Anderson School of Management and Stanford Graduate School of Business. Earlier in her career, Professor Lambrecht worked at McKinsey & Company, where she focused on marketing and sales projects in the software, media, and telecommunications industries.

Featured Experts

Liam Colley

Senior Vice President

Liam Colley heads Cornerstone Research’s European competition practice. Mr. Colley is a testifying economics expert specializing in competition, antitrust damages, and economic regulation issues. He has more than twenty-five years of experience as a consultant and testifying expert. His experience includes multiple high-profile matters before U.K. and European Union courts and competition regulators. Citing the “unassailable quality of his work,” Who’s Who Legal has named Mr. Colley a leading competition economist, as well as a Thought Leader and Global Leader in the competition field.

Antitrust and competition

Mr. Colley has consulted on a range of competition matters before the European Commission, national competition authorities, regulators, and courts. His expertise includes matters arising in automotive; financial services; insurance; technology, media, and telecom (TMT); and transportation. He has supported clients on numerous antitrust investigations and market inquiries. In addition, Mr. Colley has worked on multiple mergers, particularly on matters involving efficiencies and failing firm defenses.

Antitrust damages

Mr. Colley has wide experience estimating damages that arise from breaches of competition rules. In cartel damages matters, he has prepared numerous expert reports in the context of high court litigation, arbitration, mediation, and settlement negotiations. He has addressed class action issues and worked on many stand-alone and follow-on actions in abuse of dominance cases.

Mr. Colley has served as a testifying expert before the U.K. High Court and the U.K. Competition Appeal Tribunal (CAT) on both antitrust damages matters and regulatory appeals.

Mr. Colley publishes and speaks widely on competition and damages issues. Before joining Cornerstone Research, for many years he led the global economics practice of a major professional consulting firm.

Featured Cases and Publications

14 June 2024

Order and Trade Data Analysis in Recent Spoofing Investigations

The authors examine recent spoofing enforcement actions by the UK Financial Conduct Authority.

12 June 2024

The European Class Actions Forum 2024

Liam Colley, Ronnie Barnes, Anca Cojoc, and Vikram Kumar of Cornerstone Research will speak at this conference in Amsterdam.

6 June 2024

The Competition Collective Actions Forum 2024

Liam Colley will discuss the role of experts in competition litigation at this conference in London.

23 May 2024

Balanced and Transparent Antitrust in the AI Space

The authors examine the role of European Union (EU) competition policy and adjacent EU regulations in the emerging artificial intelligence space.

25 April 2024

Key Insights and Takeaways: 2024 Technology Economics Competition (TEC) Institute Summit, Brussels

Facilitated by Cornerstone Research, this inaugural Brussels summit marked a new series of global technology thought leadership events.

24 April 2024

2024 TEC Institute Summit Brussels

The summit featured global industry, policy, and academic experts on the intersection of technology, economics, and competition (TEC).

23 April 2024

Innovation Law & Economics Conference

Vilen Lipatov will join a panel of attorneys, European regulators, and competition experts at this annual conference in London.

18 April 2024

The Merger Control Forum 2024: Examining Recent Cases in Big Tech and Digital Markets

Gregor Langus will speak on a panel of attorneys and legal practitioners at this one-day conference in London.

10 April 2024

Cornerstone Research Staff and Affiliated Expert Win 2024 Antitrust Writing Awards

Concurrences Review recognized winners in the intellectual property and mergers categories, selected from leading antitrust and competition article...

26 March 2024

The EU AI Act: Using AI to Analyze the Public Response

EU AI Act - what was the public sentiment leading up to enactment? Our NLP analysis of 135K+ tweets analyzes the complex online viewpoints.

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