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 consulting career, Dr. Turki has been retained to analyze issues of class certification, merits, and damages in hundreds of securities fraud suits. He has also 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 Facebook IPO Litigation, and In re Petrobras Securities Litigation.
Dr. Turki has been retained by both the Securities and Exchange Commission (SEC) and defendants in actions investigated by the SEC, including the submission of white papers to the SEC’s Wells Committee recommending investigations. He has performed economic studies on major financial issues to assist defendants being investigated by the Consumer Financial Protection Bureau, the Department of Justice, the Ontario Securities Commission, 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, such as Freisenius v. Akorn, Channel v. Boston Scientific, 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. He has also managed cases involving bankruptcy litigation matters, such as Caesars Entertainment Operating Company bankruptcy, the General Motors bankruptcy, and In re Domin-8 Enterprise Solutions Inc.
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.
Dr. Turki has been retained as an expert in more than 50 ERISA cases, and testified in the few cases that went all the way to trial including Sacerdote v. NYU, Tibble v. Edison, Charles Fisher et al. v. ABB Inc. et al., and DiFelice v. US Airways, Inc. 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. Similarly, In re Principal U.S. Property Account ERISA Litigation, the Court denied the plaintiffs’ motion for class certification, citing the analyses and conclusions in Dr. Turki’s two reports.
Dr. Turki 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. He was also the lead consultant to a major bank in its RMBS litigation.
Dr. Turki was previously on the faculty of Purdue University and Stanford University, where he earned his Ph.D. degree.