Lassaad Adel Turki is a Senior Managing Director at Compass Lexecon based in Washington, DC and New York. Prior to joining Compass Lexecon, Dr. Turki was a Senior Vice President at Cornerstone Research where he was also the Head of the firm’s domestic and international finance practice. During his time at Cornerstone, Dr. Turki has been retained to analyze class certification, merits and damage issues in hundreds of securities fraud suits. He has also performed economic studies on major financial issues to assist defendants being investigated by the Securities and Exchange Commission, the Consumer Financial Protection Bureau, the Department of Justice, and presented his findings to these and other regulatory bodies. He has also been retained to assist with internal investigations in high profile matters involving insider trading, front running and Ponzi scheme allegations. His vast experience also includes takeover litigation and merger challenges including attempts to terminate mergers based on alleged material adverse events. In addition, Dr. Turki has been retained as an expert in dozens of ERISA cases and testified as a damages expert in some of the most high profile matters that went to trial. Dr. Turki has led teams of consultants and experts working on some of the most complex securities cases in the United States, such as In re AOL Time Warner Inc. Securities Litigation, In re Vivendi Universal S.A. Securities Litigation, In re MBNA Securities Litigation, and Freidus v. ING Groep N.V.
He has provided valuations and testified in R. William Becker and Mary Ann Becker v. Commissioner of Internal Revenue, using a Monte Carlo simulation to estimate the past value of a noncompete agreement. He has also testified in U.S. Horticultural Supply Inc. f/k/a E.C. Geiger, Inc. v. The Scotts Company and Griffin Greenhouse Supplies, Inc. Defendants in actions investigated by the Securities and Exchange Commission (SEC) have retained Dr. Turki to consult on major financial issues, including submission of white papers to the SEC’s Wells Committee recommending investigations.
He has managed cases involving merger challenges and allegations related to delayed or terminated acquisitions, such as Rohm & Haas Co. v. Dow Chemical Co., SLM Corp. (Sallie Mae) v. J.C. Flowers II LP, Kahn v. Tremont et al., IBP, Inc. v. Tyson Foods, Inc. Dr. Turki has been retained as an expert in more than fifty ERISA cases, and testified in the few cases that went all the way to trial including DiFelice v. US Airways, Inc. and Charles Fisher et al. v. ABB Inc. et al. In the putative class action Ann I. Taylor et al. v. KeyCorp et al., he demonstrated that the representative plaintiff benefited from the alleged inflation in KeyCorp stock, defeating class certification.
He has expertise in derivatives, structured finance, and asset securitizations, including mortgage-backed securities and collateralized debt obligations. He has advised a defendant in the civil litigation surrounding the Orange County, California, loss of over $1.5 billion on structured notes.
Dr. Turki was previously on the faculty of Purdue University and Stanford University, where he earned his Ph.D. degree.