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Dr. Marcia Kramer Mayer

Senior Vice President

New York City
tel: +1 212 345 2196
fax: +1 212 345 4650



PhD and MA in economics, Harvard University
AB in economics, with Great Distinction, Stanford University


Dr. Mayer is a Senior Vice President at NERA, where she directs litigation consulting projects and provides expert testimony in securities and finance. Much of her work involves examining market efficiency, class certification, lead plaintiffs' and individual defendants’ trading, loss causation, materiality, reliance, damages, and settlements in securities class actions. Cases involving FDA determinations, the financial crisis, Chinese issuers, accounting restatements, and stock mergers are areas of special expertise. Dr. Mayer has formulated measures of 10b-5 damages that are consistent with the Supreme Court’s Dura ruling, decisions about netting of gains and losses, and alternative interpretations of the PSLRA’s bounce-back rule.

An expert on transactions data and market microstructure, Dr. Mayer developed the empirically-based Multi-Sector, Multi-Trader Model for estimating aggregate damages in securities class actions. She has also investigated actual and purported trading in matters involving the Bernard Madoff Ponzi scheme, illegal short selling, insider trading, so-called toxic convertibles, manipulation, penny stock fraud, short-swing profits, IPO allocation (laddering allegations), execution quality, and mark-ups. In other securities matters, Dr. Mayer has consulted on Regulation FD, transfer agent and depository practices, exchange listing, NASDAQ market share, and venture capital funds.

Dr. Mayer came to NERA from the American Stock Exchange, where she was a Vice President. As head of the Research Department, she supported the Exchange’s strategic planning, regulatory, marketing, and corporate communications efforts through research and analysis pertaining to listing, market quality, and order flow. Previously, Dr. Mayer was a Lecturer in the Department of Community Medicine at Stony Brook University and an Instructor in Economics at Swarthmore College. She holds a PhD and MA in economics from Harvard University, and a BA with High Honors in economics from Stanford University.