Gary Schmirer, head of the Cornerstone Research Boston office, has extensive experience providing insight and analysis to clients in high-profile commercial litigation. His casework spans a variety of industries, including financial institutions, life sciences, technology, and real estate. He leads teams and manages research in matters arising from shareholder lawsuits, mergers and acquisitions, breaches of contracts, licensing disputes, and insider trading, as well as in internal and regulatory investigations.
Mr. Schmirer has expertise addressing issues such as liability, loss causation, damages, asset pricing, risk quantification and management, forecasts and valuation, market landscapes, and due diligence. He collaborates closely with academic and industry experts, preparing them for deposition and trial.
Securities and financial institutions
- Directed economic analyses in multiple insider trading trials in the Southern District of New York
- Analyzed competition, fees, performance, services, risks, economies of scale, and profitability in 36(b) mutual fund excessive fee cases
- Analyzed the impact of reinsurance claims and commutation payments on benefits obtained by insurers
- Simulated private equity portfolio returns, valued general partner carried interest, and evaluated management company cash flows
- Conducted valuations of companies in connection with litigation involving mergers and acquisitions
- Analyzed market efficiency, materiality, loss causation, and damages in Rule 10b-5, Section 11, and Section 12 lawsuits related to stocks and debt instruments
- Evaluated residential mortgage-backed securities (RMBS) underwriting and due diligence practices of investment banks and financial guarantee insurers
- Developed econometric analyses of loan defaults and estimated damages in RMBS litigation
- Led cases involving hedge funds, banks, securities firms, mutual funds, and insurance companies
Life sciences
- Valued clinical-stage, biologic drug in prominent hedge fund insider trading case
- Evaluated competitive and regulatory position for biologic drugs, including the use of Monte Carlo simulations
- Estimated value of new life sciences technologies
- Evaluated the potential effects of pharmaceutical company promotional events by modeling prescription-writing behavior of millions of physicians to assess liability in an off-label marketing case
- Analyzed the effect of medical device company inspection disclosures on shareholder value