Fei Li’s work focuses primarily on complex matters related to securities, financial institutions, and corporate governance. Dr. Li works on securities class actions, analyzing issues such as class certification, market efficiency, materiality, loss causation, and damages. Her case experience includes various industries and matters brought under U.S. and Japanese securities laws. Dr. Li’s expertise spans financial econometrics and financial markets, as well as valuation of companies and securities (including auction-rate and mortgage-backed securities).
Dr. Li has managed large teams, and worked with academic and industry experts in preparing for deposition and trial. Her experience includes:
- Analysis of market microstructure of over-the-counter (OTC) markets for corporate bonds and credit default swaps (CDS)
- Econometric modeling of mortgage default and prepayment risk in mortgage-backed securities (MBS) matters
- Analysis of liquidity and demand for auction-rate securities during the financial crisis
- Valuation of a licensing agreement between two pharmaceutical companies
- Evaluation of a private company’s stock ownership model in the context of breach of contract claims
- Analysis of employee option valuation and the impact of option backdating on shareholders
Dr. Li taught at the University of Wisconsin, Madison, prior to joining Cornerstone Research. She has coauthored articles in the field of empirical corporate finance, including “Why Do Reputable Agents Work for Safer Firms?” which appeared in Finance Research Letters.
Alleged Misrepresentations in RMBS Offering Documents
Publicly Traded Company Valuation Following Acquisition
Market Efficiency Not Demonstrated
JDS Uniphase Corporation Securities Litigation