Cornerstone Research Promotes Five to Principal

Economic and financial consulting firm advances Fryd, Kumler, Lew, Milliken, and Schwabe to principal.

San Francisco—Cornerstone Research, a leading provider of economic and financial consulting and expert testimony, has advanced five staff members to the role of principal: Brian Fryd, Todd J. Kumler, Sean Lew, Kyle Milliken, and Rainer Schwabe.

“It is a great pleasure to congratulate our newly promoted colleagues for their outstanding achievements,” said Yesim Richardson, Cornerstone Research’s president. “We take tremendous pride in their deep commitment to our clients, the impressive mentoring and leadership roles they have taken on within our firm, and their dedication to nurturing our firm’s culture and living our values.”

It is a great pleasure to congratulate our newly promoted colleagues for their outstanding achievements, and recognize their deep commitment to our clients and our firm.

More information about the firm’s five new principals appears below.

  • Brian Fryd specializes in securities litigation, particularly issues related to market efficiency, price impact, loss causation, and damages for financial instruments such as equities, ADRs, and bonds. Mr. Fryd has conducted analyses in dozens of securities class actions, including several high-profile matters notable for the size of the exposure or the litigation outcome. His industry experience includes automobiles, financial institutions, investment management, pharmaceuticals, and retail banking. He is based in New York.
  • Todd Kumler consults on economic and statistical matters related to antitrust and competition, life sciences, and consumer fraud and product liability. Dr. Kumler has worked on antitrust litigation and regulatory investigations in several industries, including pharmaceuticals, telecommunications, computer components, and consumer products. His experience includes using sophisticated econometric tools to assess class certification, liability, and damages issues. He is based in New York.
  • Sean Lew specializes in regulatory enforcement and litigation involving complex financial economics and data issues. Dr. Lew has addressed a range of matters that include antitrust claims in financial markets, improper trading and market manipulation, high-frequency trading and electronic platforms, securities litigation, and asset pricing and valuation. He has significant experience analyzing large proprietary and public datasets, particularly as they relate to electronic order books and transaction data. He is based in New York.
  • Kyle Milliken addresses matters involving securities, valuation, and market microstructure. Mr. Milliken has substantial big data expertise, including complex programming and analytics, and has assessed data related to trading, orders and order books, mortgage payments, company sales, and payroll and human resources. With over a decade of litigation consulting experience, Mr. Milliken has worked across a variety of industries, focused in particular on financial institutions. He is based in New York.
  • Rainer Schwabe consults on antitrust and competition cases, including matters related to allegations of price fixing, exclusionary practices, and mergers and acquisitions. He has analyzed alleged anticompetitive conduct in a number of industries, including finance, food and agriculture, healthcare, and telecommunications. Dr. Schwabe has particular expertise with antitrust issues in financial markets, and with matters at the intersection of antitrust and intellectual property. He is based in New York.