Compass Lexecon Affiliate, David K.A. Mordecai, testified regarding the dynamics of the auction rate securities market before, during, and following the financial crisis at a FINRA arbitration hearing on behalf of Lehman Brothers, Inc. and certain of its employees. A former corporate client of Lehman’s asserted several causes of action against Lehman, including breach of contract, suitability, and negligent misrepresentation/deceit related to the recommendation and purchase of auction rate securities. Following a two-week hearing in Houston, the three-member panel returned a decision denying Claimant’s claims in their entirety. Compass Lexecon worked with Philip Cook, Michael Wilson, and Haley McIntosh at Jones Day. Dr. Mordecai was supported by Kevin Dages and George Hickey in Compass Lexecon’s Chicago office.