Antitrust & Competition Economics | FTI Consulting
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Antitrust & Competition Economics

FTI Consulting, and its subsidiary Compass Lexecon, provide expert advice and testimony in complex antitrust matters, having assisted with many of the highest-profile antitrust and M&A actions and transactions in the last 30 years. We are known for developing a thorough understanding of the issues, applying relevant economic theory to those issues, and supporting our analysis with solid and persuasive empirical evidence. Our experts present complex issues and analyses in understandable terms for clients in the courtroom and before regulatory agencies.

In the U.S., we have provided expert testimony or presentations before state and federal courts, federal regulatory agencies (including the Department of Justice, the Federal Trade Commission, the Federal Communications Commission, the Federal Energy Regulatory Commission, the Department of Transportation, the International Trade Commission, and the Surface Transportation Board), state regulatory agencies, and arbitrators. Globally, we have provided expert submissions in a variety of jurisdictions, including Canada, the United Kingdom, the European Union, Australia, New Zealand, and others.

Our Service Offerings

Mergers & Acquisitions

We have unsurpassed expertise in analyzing and articulating the competitive effects and consumer benefits of mergers and other transactions in complex and dynamic markets such as healthcare, technology, and networks. Our experts have analyzed and presented evidence before regulatory authorities on both horizontal and vertical mergers and acquisitions, and we have served as advisors and experts to regulatory agencies on M&A policy matters and transactions.

Our expertise includes evaluation of competitive effects, efficiencies and benefits of consolidation; comprehensive assessments of market definition; and empirical analyses and assessments of market conditions affecting entry and expansion. We employ the same empirical models used by regulatory authorities for assessing the competitive effects of transactions. In addition, we utilize predictive analytics to test the likelihood of successful divestitures when required and advise on the competition aspects of transactions from conception to completion.

Damages

We have extensive experience estimating potential damages from alleged or proven anti-competitive conduct in securities, intellectual property, employment discrimination, and breach of contract litigation. We work on a wide variety of cases, across a broad range of industries, for both defendants and claimants and are known for high quality, robust analysis and clear articulation the issues. We use a broad variety of techniques for estimating the counterfactual, tailored to the availability of data, the nature of the product, and the environment in which companies operate in each case.

The firm has the capacity to handle and evaluate large volumes of data. Our experts apply economic and econometric techniques to estimate profits, prices, earnings, or asset valuations that would have existed absent the alleged wrongful conduct. Economic losses are then estimated by comparing these values to actual observed profits, prices, earnings, or asset valuations.

Anti-competitive Conduct

We have provided expert advice and testimony in hundreds of complex antitrust matters and have assisted clients with many of the highest-profile antitrust actions in the last 30 years in the U.S. and Europe. Our experience includes assessing anti-competitive agreements between competitors, such as price fixing, information sharing, or market sharing arrangements (horizontal agreements); anti-competitive agreements between suppliers and customers, such as tying, selective distribution, exclusive supply, or resale price maintenance (vertical agreements); monopolization and attempted monopolization; exclusionary conduct through tying and bundling, predatory pricing, conditional rebates, or other pricing arrangements; and exploitative conduct, excessive pricing, and unfair trading. Our experts have a reputation for making complex economic theories and issues understandable to fact-finders.

Class Certification

We provide class certification analyses and testimony in matters that include securities, antitrust, and ERISA cases. In direct and indirect purchaser antitrust class certification matters, our experts analyze complex datasets built from transaction-level company records to examine whether common evidence can be used to establish class-wide impact. We employ rigorous empirical analyses relating to the theory of harm and market realities that affect the business or competitive interactions between plaintiff(s) and defendant(s). Our analysis often requires detailed econometric modeling to determine whether a class should or should not be certified, including testable implications of common impact and evaluation of predominance of common factors.

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