Class Actions: When Your Expert Witness Is (and Should Be) an Economist

Litigation Radio

Berkeley Research Group (BRG) is a Premier Sponsor of the ABA Litigation Section. On this Litigation Radio episode, we will hear from Jeffrey Klenk, Managing Director of BRG, about hiring economists as experts. The selection of the BRG as the subject of this interview should not be construed as an endorsement by the American Bar Association of BRG and its services.

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More than 10,000 federal class action cases were filed last year, covering a range of areas including securities, antitrust, employment, and consumer protection. What do they have in common? They often rely on an economist’s expert analysis and testimony. So how early should you hire an economist to pick through the data?

Guest Jeffrey Klenk, a managing director with the consultant firm Berkeley Research Group (BRG), shares best practices for working with an economist expert witness.

Hear how an economist can help litigators, judges, and juries understand what matters in a case by dissecting transaction-level data, valuations, and the impact of outside influences you may not have considered. Here’s a spoiler: Klenk says it can be “fiendishly difficult” to not only understand the merits of a case but also the viability as a class action for both the defense and plaintiffs.

From analyzing a case’s potential before filing, to focusing depositions, and to courtroom testimony, an economist can be a litigator’s most valuable tool. When economists and attorneys work together, good things can happen.

Plus, a “quick tip” from Latosha M. Ellis of the firm Hunton Andrews Kurth on professional civility. You don’t have to agree with, or even like, everyone. But remember, what goes around comes around.

Resources:

“Goldman Sachs Settles 2014 Class Action Lawsuit Tied To Metal Trades”

“Court Rejects Antitrust Suit In Victory For Comcast”

Berkeley Research Group (BRG)

“United States - Economist's Perspective (2023/2024): Class Actions – Litigation, Policy and Latest Developments” by Noureen Akber, Jeffrey Klenk, and Mike McDonald

2024 Professional Success Summit, American Bar Association

“About Section 337,” United States International Trade Commission

American Bar Association

American Bar Association Litigation Section