CRA-overview-0715

A breadth of economic consulting services. Take a closer look.

Charles River Associates is a leading global consulting firm that providesindependent economic and financial analysis of litigation matters; guidesbusinesses through critical strategy and operational issues to become moreprofitable; and advises governments and regulatory agencies on the economicimpact of policies and regulations.Our clients include major law firms, corporations, regulatory agencies,accounting firms, and governments around the world. We advise more thanhalf of the Fortune 100 companies and 90 percent of the top 100 law firms.They depend on us for rigorous, fact-based analysis; deep knowledge ofmultiple industries; and objective, tailored solutions to complex problems.

CRA has played a leading role in numerouscartel damages cases. Most recently wehelped ALSTOM respond to a claim brought byNational Grid and Dow to respond to a casebrought by a group of major tyre producers(the first cartel case to go to trial before theUK High Court).

CRA economists have acted as expert witnesses in numerous litigationmatters, presenting economic evidence and being cross-examined beforecourts and tribunals in a number of jurisdictions. An increasingly importantarea is the assessment of follow-on claims for damages arising from cartelbehaviour, where the extent of the damage has to be estimated usingeconomic analysis. CRA has played a leading role in numerous recentcartel damages cases.

CRA conducted a fraud investigation intoillegal banking in the United Kingdom whichresulted in the defendant accepting theregulator’s allegations and a fine was imposed.

CRA provides written and oral expert evidence, professional investigations,and technical litigation support services. Our consultants have extensiveexperience in each of these areas, and our rich set of complementary skillshas led to engagements in disputes involving complex accounting issues,significant quantum of loss calculations, economic and financial crime, fraud,corruption, bribery, and other issues that threaten the integrity or reputationof organizations.

CRA investigated fraud and corruptionallegations for a leading European bank. Ourwork spanned 3 continents and uncoveredevidence of a range of frauds involving morethan 20 senior managers. A strategy to regaincontrol was implemented, and the organizationreturned to profitability in less than 12 months.

CRA provides services to uncover fraud and misconduct and providestechnical litigation support, written, and oral expert evidence in additionto investigation services. Our consultants have extensive experience inpreventing, deterring, detecting and investigating misconduct, and our richset of complementary skills has led to engagements in disputes involvingcomplex accounting issues, significant quantum of loss calculations,economic and financial crime, fraud, corruption, bribery, and other issuesthat threaten the integrity or reputation of organizations.

CRA served as the expert for two globalfinancial institutions to implement theircompliance, risk, and audit functions withrespect to financial industry regulations.These assignments incorporated numerousfederal and state regulations such as theCFPB, BSA, FCRA, and UDAAP, and alsoincluded a focus on anti-money launderinginternal controls and precise work plans.

Organizations throughout the globe turn to CRA when they are facingfinancial and accounting investigations, including those involving bribery andthe Foreign Corrupt Practices Act (FCPA). We have worked on many of thehighest profile financial investigations on record. Our expert teams integrateaccounting, finance, litigation, and investigation expertise; they are tailoredto each assignment and possess the skills required to ensure our work willwithstand scrutiny. CRA also helps the legal counsel of financial institutionsmanage exposure to compliance issues.

In one of the largest bankruptcies in history,CRA was brought in to investigate the truefinancial condition of a company. Afteranalyzing complex off-balance sheettransactions, derivatives, and cash flows,CRA helped develop litigation strategies,performed business valuations, and providedexpert testimony regarding solvency.

We assess issues related to disputes involving lost profits, breach ofcontract, purchase price, valuation, business interruption, product liability,and fraud, among other damages claims. CRA calculates damages, providesexpert testimony, and critiques opposing damages analyses in many typesof litigation matters, including antitrust, intellectual property, securitiesand other financial market issues, insolvency, property values, contract,employment discrimination, product liability, environmental contamination,and purchase price.

CRA was retained by Lloyds TSB in itsmerger with fellow UK bank HBOS. LloydsTSB’s submissions to the Office of FairTrading included analyses of public interestand post-merger counterfactual as well as acompetitive assessment based on marketsidentified as potential competition concerns.The UK government ultimately cleared theproposed merger.

CRA’s competition experts are acknowledged leaders in providing economicanalysis, advice, and testimony for antitrust and merger cases worldwide.We employ tools such as merger simulation, upward pricing pressure analysis,econometrics, bargaining theory, or game theory as needed. Many of ourexperts have served in government antitrust agencies or are members ofpremier academic economics and law faculties. We work across manyindustries, including health care, energy, computer hardware/software,retailing, telecommunications, entertainment, transportation, naturalresources, sports, chemicals, pharmaceuticals, financial services, andconsumer products, among others.

Providing expert testimony on damagesissues, CRA helped Sprint obtain a favorableeconomic outcome at trial when Vonageinfringed on several of their patents relatedto voice-over-Internet protocol technology.Subsequent to that trial, we assisted Sprintin connection with negotiations that resultedin an $80 million settlement.

CRA’s intellectual property experts bring analytical rigor and objectivity to alltypes of IP issues, whether they’re related to high-stakes disputes, businessdecisions, transactions, or compliance matters. We provide expert analysisand testimony, and our experts are masters at quantifying economic damagesbecause many have both exceptional courtroom and real-world experiencein IP management and transactions. Valuation is our core expertise. Incombination with our expert due diligence and financial advisory services,our strength in this area enables us to provide sound, insightful advice at allstages of transactions.

In a class action alleging a conspiracy amongChrysler, Ford, General Motors, and Hondato restrict cross-border vehicle sales fromthe US to Canada, CRA’s experts rebutted theplaintiffs’ claim that these restrictions wouldonly occur through conspiracy and discussedwhy there is no class-wide method to establishclass member harm given the individualizednature of new vehicle purchases.

CRA has a broad range of experience in high-stakes class action mattersinvolving fraud, antitrust, product liability, and securities. This experienceincludes analysis of class certification issues, liability, aggregate and individualclass damages, injunctive relief, and settlement distribution issues. We applycutting-edge econometric techniques, simulations, and economic theory tocomplex economic questions and present results in expert reports, oralpresentations, depositions, and trial testimony that are readily understoodby both economists and non-economists.

When an energy firm claimed $265 million inlosses as a result of the Argentine currencycrisis, CRA consultants provided expertreports and evidence in arbitration proceedingsbetween the firm and the Argentine Republic.The case settled on favorable terms.

CRA has been engaged in some of the most complex and high-profilefinancial and non-financial disputes of recent years, including both commercialand investment treaty claims. We provide expert testimony in all the majorinternational arbitration forums, including ICC, ICSID, LCIA, and underUNCITRAL rules. We offer broad economic, financial, commercial, market,and regulatory expertise in a wide variety of industries such as bankingand finance, insurance, mining, metals and materials, oil, natural gas andLNG, telecoms, media, and technology.

When a national financial institution facedmultiple allegations of wage and hourinfractions, they turned to CRA. We developedmodels that anticipated settlement participationrates and costs under alternative structuresof the settlement agreement. The matter wassettled on favorable terms.

Our employment experts have supported an array of litigation disputesrelated to discrimination and other employment grievances. Clients cometo us because we deliver the deep technical skills, rigorous analysis, andexpert insight they need to uncover and accurately interpret the hard facts.Our labor and employment consultants have outstanding academic andresearch credentials, as well as extensive practical experience workingwith plaintiffs, defendants, courts, and regulators. We specialize in applyingstatistical techniques to the analysis of employment practices such ascompensation, hiring, promotion, and termination as those practices relateto gender, race, age, and ethnic origin discrimination.

A global pharmaceutical company abandoneda product launch following unfavorable clinicaltrial results. When their stock price fell, theywere sued for allegedly concealing productinformation. The court accepted CRA’s analysisand conclusion that the alleged informationconcealment was an unlikely reason for theprice change.

We consult directly with major life sciences corporations and the governmentagencies that regulate them to help solve their most challenging strategicproblems and resolve contentious disputes. CRA consultants have advisedlife sciences clients on a broad range of strategic issues, including licensingand business development, pipeline and product positioning, and globalproduct strategy. We’ve also enhanced our clients’ competitive positionthrough our expertise in economics, finance, management, intellectualproperty, game theory, and statistics.

When the Federal Electricity and WaterAuthority of the United Arab Emirates neededhelp designing and implementing a utilityreform program, they chose CRA. We led theirmanagement transformation and structuredan investment and modernization programworth more than a billion dollars.

CRA’s energy experts have a deep understanding of the economics ofenergy market design and work with law firms to develop a comprehensiveapproach to complex commercial litigation, litigated regulatory proceedings,bankruptcies, and arbitrations. We work to ensure that cases are built onsound regulatory economics supported by state-of-the-art economic andfinancial models.

CRA stands ready to meet the needs of corporate compliance officers aswell as inside and outside counsels in refining and defining your requirementsfor expert consulting and testifying assistance. For counsel seeking experts,we ensure that the right expert is identified and retained for each case. CRAoffers extensive expertise in corporate investigations such as embezzlement,employee theft, and vendor fraud. We also offers a variety of complimentaryservices including anti-fraud solutions, anti-bribery services, anti-briberydue diligence, anti-bribery compliance monitoring, bribery and kickbackinvestigations, UK Bribery Act compliance, third-party due diligence, includingfinancial analysis, asset tracing, and recovery, background investigations,and dispute resolution.

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