Simona Mola, PhD

In corporate governance-related cases, Dr. Mola leverages expertise developed at the SEC and in academia to advise on a broad range of corporate governance issues arising in complex transactions, including de-SPACs, IPOs, M&A deal processes, and cross-border tender offer practices. Her work includes examining fiduciary duties of senior officers and controlling shareholders, assessing breaches of contract across a range of agreements, and developing economic frameworks to evaluate the rationale for limited liability and its application to veil-piercing and alter ego analyses. Additionally, at the SEC, she led the economic analysis of multiple executive compensation-related rulemaking and policy initiatives. Building on that experience, Dr. Mola has developed expertise in analyzing economic issues in executive compensation, including clawbacks, executive trading behavior, backdated stock options, delays in the exercise of equity awards, and quantification of alleged lost income in employment disputes.

Dr. Mola also brings extensive expertise to securities litigation matters, focusing on disclosure and due diligence, tracing, and price impact issues. She conducts empirical analyses on disclosure customs and practices among comparable companies and evaluates the flow of information and internal processes, including the role external advisors play in shaping disclosures and financial reporting under Sections 10(b) and 11 of the Securities Act. Additionally, Dr. Mola provides expert analysis on tracing issues under Section 11 throughout class certification and merits stages, contributing to favorable client outcomes such as dismissals, settlements, and reductions in class periods and damages claims. She also evaluates analyst reports to understand how alleged misstatements or omissions are discussed, leveraging her research and consulting experience to assess analysts’ economic incentives and their influence on investor decision making and price impact in the market.

In cryptocurrency-related matters, Dr. Mola brings significant expertise to the emerging field of digital assets and other blockchain applications. She assesses the value proposition of blockchain businesses by analyzing ecosystem growth potential and token‑economy incentive alignment; evaluates trading patterns, governance arrangements, and industry practices to assess allegations of manipulation or misconduct; and supports experts in analyzing economic, financial, and operational issues across traditional and emerging markets.

Prior to joining NERA, she served as assistant director and senior policy advisor at the SEC’s Division of Economic and Risk Analysis, where she led and developed numerous economic analyses for high-profile rulemaking and policy projects related to corporate governance, disclosure requirements, executive compensation, capital formation, financial reporting, auditing, broker-dealers, and credit rating agencies.

Before joining the SEC, Dr. Mola was an assistant professor of finance at Arizona State University. She has published research in the Accounting Review, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and the Journal of Behavioral Finance, and she has been honored with two best paper awards. Dr. Mola regularly presents at domestic and international conferences.