Article
Analysis Group Team Discusses Role of Economic Experts in Criminal Antitrust Discovery Process in American Bar Association Newsletter
As the government’s approach to criminal antitrust investigations has evolved, the potential role of the economic expert in such matters has grown, according to an Analysis Group article in The Exchange: Insurance and Financial Services Development, a newsletter of the American Bar Association Section of Antitrust Law. In the article, “Criminal Antitrust: The Discovery Process and the Role of Economic Experts,” Managing Principal Samuel Weglein, Vice Presidents David Smith and Chris Feige, and Manager Solvejg Wewel draw on their experience in both civil and criminal antitrust cases, the latter of which include US v. Richard Usher, et al. and US v. Akshay Aiyer. The authors examine the expert discovery process in criminal antitrust litigation relative to civil antitrust litigation, and then discuss how economic experts may offer valuable opinions even in a per se environment – that is, one focused on the existence rather than the effect of an alleged conspiracy.
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Chris Feige
PrincipalMr. Feige specializes in the areas of finance, securities, and financial markets. He has worked on and managed a range of securities and valuation projects in the UK and Europe. Mr. Feige has been appointed as expert in Dutch court to provide valuation and securities claims reports in support of Steinhoff’s global securities settlement, and gave evidence in the Dutch Enterprise Chamber regarding the valuation of Getir. He has also managed teams evaluating shareholder reliance and disclosure materiality and estimating counterfactual share prices in UK Financial Services and Markets Act (FSMA) Section 90A litigation matters. Mr. Feige has supported experts analyzing the volume of false and spam accounts on Twitter, Twitter’s information security infrastructure, Twitter’s data privacy and compliance with a US Federal Trade Commission (FTC) consent decree, and share price and valuation issues on behalf of Twitter in Twitter v. Musk in which Elon Musk eventually purchased Twitter at his initial offer price. In cases involving alleged market manipulation in the foreign exchange (FX) and IBOR markets, he has analyzed trade data and evaluated alleged manipulation strategies. Mr. Feige worked on USA v. Richard Usher, et al., and the Foreign Exchange Class Antitrust Litigation, analyzing FX trade and chat data, as well as competition issues; preparing experts for testimony at trial; and providing data analyses and consulting support to counsel throughout the projects. He has also worked on a range of international arbitration cases, including valuation, damages, and competition analyses. In addition, he has developed complex valuation models, including discounted cash flow models, and analyzed asset-backed securities, collateralized debt obligations, and other securitized products in support of expert testimony in a number of bankruptcy and damages matters. Mr. Feige has also worked on a number of international arbitrations valuing defaulted sovereign debt, expropriated oil fields, and retail operations. His work has been published in several industry journals.