Russell Molter



  • Chicago


Russell Molter specializes in matters involving accounting, merger efficiencies, auditing, and forensic investigation. He works closely with attorneys and provides expert support at all stages of litigation and regulatory proceedings. Mr. Molter’s industry expertise includes finance, healthcare, manufacturing, oil and gas, and technology, among others.

Cost accounting and merger efficiencies

Mr. Molter has extensive experience analyzing issues related to cost accounting and merger efficiencies. He has consulted on numerous cost and managerial accounting matters, including those involving predatory pricing, profitability analyses, and but-for damages claims.

Mr. Molter has assessed merger efficiencies and failing firm issues for both the merging parties and government agencies such as the Department of Justice and the Federal Trade Commission. He has evaluated merger specificity and the verifiability of claimed efficiencies. In addition, he has conducted analyses to determine whether firms are failing and if their assets are likely to exit the relevant market. His coauthored publication, “If You Build it, They Will Come: Building an Efficiencies Case,” won an Antitrust Writing Award for best business article in the mergers category.

Accounting, auditing, and forensic investigations

Mr. Molter has more than a decade of experience with matters involving U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). In these contexts, he has analyzed a range of accounting issues, notably those related to income taxes, revenue recognition, contingent liabilities, fair value, and derivatives.

In matters involving Generally Accepted Auditing Standards (GAAS), Mr. Molter has addressed actions brought by the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB). He has also consulted on issues related to auditor liability in other forums, and has performed forensic services in multiple matters involving alleged fraud and concealment schemes.

Before joining Cornerstone Research, Mr. Molter performed forensic accounting investigations and provided litigation consulting services for a financial advisory company. Previously, he worked as an auditor in Ernst & Young LLP’s Assurance and Advisory practice.

Community engagement

Mr. Molter serves as board vice president for the Center for Disability and Elder Law (CDEL), which provides pro bono legal services to low-income seniors and adults with disabilities in Chicago. He is also a member of the CDEL’s executive board.

Professional Affiliations

Accounting and Auditing Enforcement Activity

Press Release

Cornerstone Research Staff and Affiliated Expert Win 2024 Antitrust Writing Awards

Press Release

PCAOB Enforcement Activity in 2023 Reached its Highest Level Since 2017 as Monetary Penalties Nearly Doubled Previous Record


Public Company Accounting Oversight Board (PCAOB) Enforcement Activity—2023 Year in Review

Press Release

2024 Antitrust Writing Awards


Pocket MBA 2023: Finance for Lawyers and Other Professionals


Secure Energy Services Inc./Tervita Corporation

Press Release

Cornerstone Research Staff and Affiliated Experts Submit Comments on the Joint FTC-DOJ Draft Merger Guidelines

  • “Economic Concepts in the Litigation Context,” Pocket MBA 2022: Finance for Lawyers and Other Professionals, 14 October 2022