The starting line
In traditional architecture, a cornerstone is a stone
representing the nominal starting place in the construction of a
monumental building. Cornerstone Research, a litigation consulting
firm, likes to think that it provides this same starting place for
clients who are in the beginning phases of a monumental legal case.
In the increasingly complicated world of commercial litigation,
attorneys often need help sifting through complex economic or
financial issues. Cornerstone Research is the place they turn to
for help. The firm has worked with top-tier law firms throughout
its existence, and has represented firms in a diverse group of
industries, including finance, telecommunications, high tech,
manufacturing, and real estate.
Cornerstone Research provides attorneys with consulting for many
facets of the litigation process. That includes finding
high-quality expert witnesses, as well as providing economic and
financial analysis to attorneys as they navigate the complexities
of litigation and regulatory proceedings.
To the courtroom and beyond
If you were to believe everything you see on TV, the process of
preparing for a trial involves a group of lawyers debating before
one of them wins over the judge or jury with an emotive argument.
The reality, of course, is a lot more complicated than that-as
Cornerstone Research's list of services will attest. The firm has
four main areas of specialty that law firms can draw upon as they
prepare for cases: consulting to attorneys; identifying and
supporting expert witnesses; conducting research and analysis; and
preparing for deposition and trial.
The first of these categories is the broadest. Given the many
complexities that can arise in a legal case, attorneys call upon
Cornerstone Research to analyze key issues related to business,
economics or finance. Cornerstone Research's consultants fill that
role, bringing their expert knowledge, as well as the firm's
network of faculty experts and industry specialists. In the event
of a case making it into the courtroom, the firm's services can
extend through the trial and even to post-trial briefs.
The vast majority of undergraduates who join Cornerstone
Research eventually leave to earn graduate degrees, with most
pursuing MBAs. Other departing consultants choose to pursue PhDs in
economics or finance, or law degrees. The firm takes formal steps
to help consultants with the application process. It brings in
admissions counselors from Wharton, Stanford, Duke, MIT, Kellogg
and Chicago, and other top institutions to give presentations and
talk to students about their respective schools and the
requirements for admission.
IN THE NEWS
Stacie Somers v. Apple, Inc.
In a case alleging an anticompetitive tie between Apple's iPod
and iTunes products, Dr. Michelle Burtis, a vice president of
Cornerstone Research, was retained to assess the economic basis for
certifying a putative class of indirect purchasers of these
products. Specifically, Dr. Burtis assessed the feasibility of
using a common method to calculate damages for members of the
proposed class. Read more.
Cornerstone Research Coauthors Antitrust Amicus Brief
for Supreme Court
Cornerstone Research staff and experts coauthored an antitrust
economist amicus curiae brief submitted to the U.S. Supreme Court,
anticipating the Federal Trade Commission v. Actavis Inc. et al.
oral arguments scheduled for March 25, 2013. The brief asked the
justices not to rule that reverse payment settlements (in which the
patent holder makes a payment to the alleged infringer) are
presumptively illegal, warning that such a ruling would reduce the
value of pharmaceutical patents, thereby lowering incentives for
innovation. Read more.
Microsoft Corporation v. Motorola, Inc. et
Counsel for Microsoft retained Cornerstone Research and Vice
President Matthew Lynde to estimate the value and range of
royalties that would be consistent with Motorola Mobility's
contractual obligations to license its patented standards on
reasonable and non-discriminatory (RAND) terms. Read more.
Emerging Issues in High-Frequency Trading
Over the past few years, regulators have increasingly focused on
issues surrounding financial firms that implement HFT. This focus
dramatically intensified following the March 2014 release of
Michael Lewis's book, Flash Boys: A Wall Street Revolt, a
purported exposé of the activities employed by trading firms that
use high-speed algorithms and information gathering. The release of
Flash Boys also roughly coincided with an IPO announcement
by one of the largest HFT firms. Read more.
Cornerstone Research Names Michael E. Burton President
Cornerstone Research, a leading provider of economic and
financial consulting and analysis in commercial litigation and
regulatory proceedings, today announced the appointment of Michael
E. Burton as President and CEO. Dr. Burton, formerly a Senior Vice
President, succeeds Cynthia L. Zollinger, who has held Cornerstone
Research's highest leadership position since January 2007. Ms.
Zollinger remains an officer of the firm and will assume the post
of Chair, succeeding James K. Malernee Jr. Read more.