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Securities Expert Witnesses

Securities litigation arises whenever the marketing, valuation, or trading of an equity or debt instrument is alleged to have violated federal or state securities regulations, from disclosure disputes tied to public offerings to allegations of insider trading, broker-dealer misconduct, or ESG-related misstatements in securities filings. Issuers, broker-dealers, investment firms, and shareholders frequently disagree over whether required disclosures were adequate, whether trading activity complied with exchange and regulatory rules, or whether a valuation reflected proper methodology. Because securities markets are governed by an intricate combination of SEC regulations, exchange rules, and evolving case law, the central issue in these disputes is usually whether conduct met the standard expected of a sophisticated market participant operating under that regulatory framework. Courts routinely rely on independent expert testimony to resolve these highly technical questions.

Expert analysis in securities matters typically involves reviewing trading records, disclosure documents, and valuation methodologies against SEC regulations, exchange rules, and generally accepted practices in securities markets. Experts assess whether disclosures adequately informed investors, whether trading activity is consistent with insider trading or market manipulation, and whether a valuation or damages model properly accounts for market conditions at the relevant time. This analysis directly supports liability and causation determinations, helping counsel establish whether a loss stems from a disclosure failure or regulatory violation rather than ordinary market risk, and it can quantify damages in securities fraud and shareholder litigation. Where an opposing expert's valuation or compliance analysis is challenged, a qualified securities expert can rebut that testimony with direct regulatory or industry experience.

Because securities disputes range from SEC enforcement matters to shareholder class actions, the right expert should bring direct experience with the specific market segment and regulatory question at issue. Round Table Group's securities experts have held senior positions with the U.S. Securities and Exchange Commission, worked at firms including Morgan Stanley Dean Witter and UBS PaineWebber, and testified regularly before FINRA, the NYSE, and the American Arbitration Association. With more than 75,000 expert searches completed for litigators, we help attorneys identify securities experts whose regulatory and market experience will withstand scrutiny in the specific dispute at hand. Let us help you find the right securities expert for your case by calling us at (202) 908-4500.

Kinds of Cases We Work On

Round Table Group helps our clients find a wide variety of Securities expert witnesses for cases like:

01

IPO underwriting indemnification dispute

After a technology company's IPO prospectus was found to have understated customer churn ahead of a substantial offering, the underwriter sought indemnification from the issuer under the underwriting agreement following a securities suit, while the issuer argued the underwriter's own due diligence failures barred indemnification. A securities registration and due diligence practices expert reviewed the underwriter's due diligence file, including customer reference calls and management representation letters, against standard underwriter due diligence practice for offerings of that size and sector. The expert found the underwriter had relied on churn figures provided by management without independently verifying them against the company's own billing system data, a step standard practice for offerings in that sector typically included. That finding weakened the underwriter's indemnification claim and was a key factor in the negotiated allocation of the settlement costs between the two parties.
02

Private placement misrepresentation dispute

An institutional investment fund sued a mid-sized manufacturer after a private placement, alleging the private placement memorandum had materially overstated recurring revenue by including one-time project-based contracts as recurring. A securities valuation and damages expert reconstructed the company's actual recurring revenue base from underlying contract files and compared it to the figure represented in the offering materials. The expert found the represented recurring revenue was overstated by close to a quarter once one-time contracts were properly excluded, a gap that materially affected the valuation multiple the fund had relied on in pricing its investment. That reconstruction anchored the fund's damages claim and was central to the settlement reached before trial.
03

Appraisal rights fair value dispute

Following a going-private merger valuing a specialty retailer, a group of institutional shareholders exercised appraisal rights, arguing the merger consideration understated the company's fair value as of the merger date. A securities valuation expert built an independent discounted cash flow analysis and comparable company analysis using the company's contemporaneous financial projections and market data as of the valuation date. The expert's analysis produced a fair value estimate meaningfully above the merger price, driven primarily by a lower discount rate supported by the company's actual capital structure at the time. That independent valuation was substantially adopted by the court in its appraisal ruling, resulting in an award well above the original merger consideration.
04

Underwriting syndicate liability allocation dispute

After a securities class action settled following a biotech offering's disclosure failures, the lead underwriter and a syndicate member disputed how the settlement contribution should be allocated between them under their agreement among underwriters. An investment banking and underwriting practices expert reviewed each firm's due diligence assignments and work product against the allocation of responsibilities set out in the agreement among underwriters and standard syndicate practice. The expert found the syndicate member had been assigned and had completed only a limited scientific due diligence review, while the lead underwriter had retained primary responsibility for the clinical trial disclosures at the center of the claims. That allocation of responsibility supported shifting a larger share of the settlement contribution onto the lead underwriter in the parties' negotiated resolution.
05

Convertible note anti-dilution dispute

A venture debt fund sued a growth-stage company, alleging the company had miscalculated the conversion price on its convertible notes following a down-round financing, applying a weighted-average anti-dilution formula in a way that understated the number of shares the fund was owed upon conversion. A securities and capital markets expert recalculated the conversion price using the formula as defined in the note purchase agreement and the actual terms of the down-round financing. The expert found the company's calculation had excluded a tranche of the down-round shares from the weighted-average formula that the note agreement's definition of "additional shares" plainly included. That recalculation, which increased the fund's entitled share count by a meaningful margin, was adopted by the arbitrator in resolving the dispute
06

Proxy disclosure dispute in a contested election

An activist fund seeking board seats sued a company, alleging its proxy statement had omitted material information about a pending strategic review that would have been relevant to shareholders voting on the contested election. A corporate governance and proxy solicitation practices expert reviewed the company's board minutes and the timeline of the strategic review against standard disclosure practice for proxy statements issued during an active contested election. The expert found the strategic review had progressed to a stage, including engagement of a financial advisor and preliminary bids, that standard proxy disclosure practice would treat as material and requiring disclosure well before the vote. That finding supported the fund's disclosure claim and contributed to the company agreeing to issue supplemental disclosures and adjourn the shareholder vote
07

Securities lending buy-in cost dispute

A prime broker sued a hedge fund client for the costs of a forced buy-in after the fund's short position in a hard-to-borrow stock resulted in a failure to deliver, while the fund argued the broker's own securities lending desk had failed to timely locate and confirm a valid borrow before the trade was executed. A securities lending and market structure expert reviewed the broker's locate and borrow confirmation records against Regulation SHO requirements and standard prime brokerage practice for confirming borrows on hard-to-borrow names. The expert found the broker's locate confirmation had been provided after the trade had already executed, a sequencing that departed from standard practice requiring locate confirmation before order execution. That finding shifted a meaningful share of the buy-in costs back onto the broker in the resulting settlement.
08

Fairness opinion negligence dispute

A special committee overseeing a company's going-private sale sued its financial advisor after the transaction drew shareholder litigation alleging the advisor's fairness opinion had relied on outdated financial projections that understated the company's value. An investment banking and fairness opinion practices expert reviewed the advisor's valuation work papers and the timeline of when updated projections became available relative to when the fairness opinion was finalized. The expert found the advisor had received updated, more favorable projections from management roughly three weeks before signing but had not incorporated them into the valuation analysis underlying the opinion. That finding supported the special committee's negligence claim against the advisor and contributed to a settlement covering a portion of the company's shareholder litigation defense costs.
09

Best-efforts offering breach dispute

An issuer sued its placement agent after a shelf takedown offering raised less than half its targeted amount, alleging the agent had failed to use the best efforts required under the placement agency agreement to market the offering to its stated institutional investor base. A capital markets and placement agent practices expert reviewed the agent's investor outreach records, roadshow materials, and comparable best-efforts offerings the agent had run for other issuers around the same time. The expert found the agent had contacted less than half the number of institutional accounts it typically reached for comparable offerings, and had allocated meaningfully less roadshow time to the issuer than to a competing deal it was running concurrently. That comparative finding supported the issuer's breach of contract claim and was significant in the settlement reached before trial.
10

Rule 144 legend removal delay dispute

A private equity fund sued a company's transfer agent, alleging an unreasonable delay in removing a restrictive legend from a block of shares eligible for resale under Rule 144 caused the fund to miss a favorable trading window, resulting in significant lost proceeds. A securities transfer practices and capital markets expert reviewed the transfer agent's processing timeline against standard industry turnaround times for legend removal requests meeting Rule 144's requirements, and calculated the fund's losses using the stock's price movement during the delay period. The expert found the request had taken roughly three weeks longer to process than standard industry turnaround for a complete, properly documented request. That timeline and the resulting damages calculation were central to the settlement the transfer agent ultimately paid.

Here are a few of our favorite Securities Expert Witnesses:

Mr. Pesach Glaser, Exclusive Expert Witness

A former SEC enforcement leader with 38+ years of experience brings award-winning expertise in forensic accounting, financial fraud investigations, and high-stakes securities litigation.

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Michigan Corporate Governance, Securities Expert #1313

I have 25 years of experience, and specialize in the field of securities law.

 

New York Portfolio Management Expert #1831

This sample expert is a founding partner of a comprehensive wealth management company. Currently principal and portfolio manager of the firm.

 

Minnesota Securities Expert #3863

I have 20 years of experience and specialize in the field of finance and securities with specific knowledge of securitization and structured finance, corporate finance and accounting. I have published on such topics as corporate finance, securities damages and accounting. I have testified 20 times on topics such as accounting, Ponzi schemes and securitization.

 

Nevada Securities Expert #11031

I have 35 years of experience and specialize in the field of investments and securities with specific knowledge in the areas of broker-dealer practices and standards, registered representative training, procedures and standards, and securities and insurance industry products. I have testified 45 times on topics such as securities industry issues.

 

Your Case Deserves The Best Securities Expert Witnesses

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The right expert witnesses and consulting experts can make your case. That’s why we have spent so many hours over the past quarter century making sure our clients have just the right expert team — whether one expert or many, early-stage advice or expert reports and testimony. Across over 50,000 expert search assignments, we have honed a unique, customized approach to identifying, analyzing and connecting with expert talent so you can focus on winning your case.

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Washington D.C. Securities, Finance, Valuation Expert #12652

I have 30 years of experience, and specialize in the field of securities and finance with specific knowledge in the areas of securities fraud, insider trading and derivative securities. I have published on such topics as insider trading, securities market structure and options. I have testified 12 times on topics such as securities fraud, insider trading and damages.

 

Washington D.C. Investment, Finance, Securities Expert #14111

I have 27 years of experience, and specialize in the field of regulatory compliance for securities firms with specific knowledge in the areas of Securities and Exchange Commission and the Financial Industry Regulatory Authority compliance programs, regulatory examinations and investigative litigation support. I have published on such topics as Securities and Exchange Commission independent consultant reports, expert witness reports and declarations and affidavits. I have testified on Securities and Exchange Commission and the Financial Industry Regulatory Authority supervision, mutual funds and wrongful termination, supervision and suitability.

 

California Securities, Corporate Expert #14542

I have 15 years of experience, and specialize in the field of corporate and securities law with specific knowledge in the areas of private offerings, public offerings and SEC reporting. I have published on such topics as The Private Securities Litigation Reform Act, underwriters due diligence obligations and contract law. I have testified 6 times on topics such as securities transactions, corporate transactions and Securities and Exchange Commission (SEC) requirements.

 

Oregon Legal Malpractice, Securities Expert #14776

I have 35 years of experience, and specialize in the field of complex business litigation with specific knowledge in the areas of securities, legal malpractice and reasonable fees. I have published on such topics as securities regulation, complex litigation and attorneys fees.

 

New York Forensics, Finance, Securities Expert #15747

I have 25 years of experience, and specialize in the field of forensic accounting with specific knowledge in the areas of securities litigation, valuations and accountants’ liability. I have published on such topics as accounting failures and changes in accounting. I have testified on breach of contract and valuation.

 

Illinois Securities, Valuation, Damages Expert #21659

I have 13 years of experience, and specialize in the field of economics and finance with specific knowledge in the areas of securities fraud, valuation and labor discrimination. I have testified as an expert witness and has also acted as an independent expert in several mediations.

 

Washington D.C. Securities, Valuation, Financing Expert #22255

I have 25 years of experience and specialize in the field of mortgage investments, with specific knowledge of mortgage securities, valuation or pricing and risk controls. I have published on such topics as market accounting impact on system capital.

 

Securities, Industry Regulations Expert #25675

I have 40 years of experience, and specialize in the field of securities with specific knowledge in the areas of industry regulations, administration of an investment firm. I have the unique experience in Canada of having held senior positions on both the Self-Regulation and Member sides of the securities business.

 

New Jersey Accounting, Securities, Analysis Expert #27304

I have 22 years of experience in the field of financial services, with specific knowledge in the areas of generally accepted accounting principles and statutory accounting, structured finance, and securities analysis. I have published on such topics as insurance accounting, balance sheet risks, and earnings quality.

 

Ohio Securities Expert #29680

I have 22 years of experience and specialize in the field of general securities with specific knowledge in the areas of sales, management and supervision. I have published on such topics as financial planning and manager selection. I have testified on broker due diligence, transfer of accounts and RR supervision.

 

New York Investments, Securities, Options Expert #31861

I have 20 years of experience, and specialize in the field of securities regulation with specific knowledge in the areas of program trading, derivatives and equities. I have published on such topics as markets, numerous reports on trading violations and referred B/D for disciiplinary action. I was an expert and participant in developing procedures and criteria that became the cornerstone of ISG, Intermarket Surveillance Group’s collaboration and cooperative agreements. This breadth of knowledge serves me well as a FINRA Arbitrator.

 

Antitrust, Securities Expert #32835

I have 9 years of experience and specialize in the fields of law and economics, with specific knowledge of antitrust, securities (insider trading) and corporate law. I have published on such topics as corporate and securities law, and antitrust and criminal law.

 

Pennsylvania Securities, Banking, Investments Expert #33808

I have 23 years of experience in the field of financial management and brokerage, with specific knowledge in the areas of banking, private client management, and financial markets.

 

California Securities Expert #34069

I have 27 years of experience in the field of financial management with specific knowledge in the areas of taxation, insurance and securities. I have published on such topics as elder care, health insurance and estate planning. I have testified on securities laws, insurance law and elder care.

 

California Securities, Stocks, Bonds Expert #34756

I have 40 years of experience, and specialize in the field of securities with specific knowledge in the areas of stocks bonds, suitability and management portfolio. I have published on such topics as investing in ETFs, investing in the Nasdaq market and investing with Intellignet ETFs. I have testified 7 times on topics such as suitability, portfolio construction and stocks. Opening an office and managing it; writing books on investing; helping people in the market; supervising others.

 

Illinois Damages, Securities, Commodities Expert #38493

I have 13 years of experience, and specialize in the field of financial markets with specific knowledge in the areas of damages, securities fraud and valuation. I have testified on profit and loss, damages and valuation.

 

Georgia Securities, Class Action Expert #45586

I have 38 years of experience, and specialize in the field of litigation with specific knowledge in the areas of securities, class actions and medical. I have published on such topics as the legal aspects of starting a business, tax aspects of reincorporation and securities law and the internet. I have testified on criminal conduct. Most all of my cases are referrals.

 

Maryland Tax, Securities, Fraud, Planning Expert #47948

I have 24 years of experience, and specialize in the field of estate planning with specific knowledge in the areas of generation skipping taxes, qualified plans and individual retirement account distributions planning and laws and trust planning. I have published on such topics as individual retirement account distribution planning. I have testified on fiduciary issues in trust administration, securities fraud and individual retirement account distribution rules.

 

New York Securities, Insurance, Finance Expert #48160

I have 20 years of experience, and specialize in the field of life insurance and life settlements with specific knowledge in the areas of magnetizations, off shore and private placement life insurance. I have published on such topics as asset protection and hedge funds and estate tax.

 

California Finance, Securities, Fraud Expert #48476

I have 20 years of experience, and specialize in the field of residential mortgage lending and residential mortgage backed securities with specific knowledge in the areas of residential mortgage lending, residential mortgage backed securities and mortgage loan repurchase or put back demands.

 

Illinois Investments, Securities Expert #47421

I have 15 years of experience, and specialize in the field of investments and securities with specific knowledge in the areas of churning, suitability and RIA activities. I have published on such topics as risk management, compliance and supervision. I have testified 10 times on topics such as suitability, fiduciary duty and RIA activities. I have had experience as a consultant, securities professional and regulatory; consequently, I have experience from all arenas of the securities profession. This array of experience is difficult to find in an expert witness. I am able to use this experience to produce an informed and…

 

New York Securities, SEC, Investment Expert #50788

I have 9 years of experience and specialize in the field of financial with specific knowledge in the areas of compliance, mutual funds and account payable.

 

Georgia Securities Expert #50965

I have 34 years of experience and specialize in the field of financial services with specific knowledge in the areas of securities, annuities and insurance. I have published on such topics as ethics. I have testified 20 times on topics such as Freddie Mac, Fannie Mae, due diligence, supervision, suitability and annuities, and life insurance.

 

Put Our Securities Expert Network to Work for You

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Our huge network of experts – eminent university professors and practitioners who have achieved renown as thought leaders in their fields – combined with unparalleled research capabilities puts the experts you need at your disposal when and where you need them.

If you’re a litigator or general counsel, we want to put this network to work for you and your clients. Let us know how we can help by calling us at (202) 908-4500 or filling out the form on this page. We’re so confident you’ll love what we do that unless you retain an expert we present there’s no charge!

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Questions Attorneys Ask About Securities Expert Witnesses:

A securities expert becomes necessary when a case turns on whether disclosures, trading activity, or valuation methodology complied with SEC regulations and exchange rules, common in disputes involving securities fraud, insider trading allegations, or shareholder claims tied to public offerings. Counsel typically engages an expert once the case theory depends on establishing the applicable regulatory or market standard.
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Securities Workshops

A few of the courses and workshops led by our Securities experts:

  • American Corporate and Securities Law: The Basics
  • Disclosure 2.0: How Technology is Revolutionizing Securities Law

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