Adel Turki has consulted on nearly all aspects of litigation. He leads Cornerstone Research’s finance practice, and has a wealth of expertise in complex investments and valuation. He has analyzed damages in securities class actions, antitrust, breach of contract, and Employee Retirement Income Security Act (ERISA) cases, among others.
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.
SEC enforcement and white collar
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.
Mergers and acquisitions
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.
Derivatives and other complex financial instruments
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.