NERA Economic Consulting Announces Senior-Level Promotions

13 February 2018

13 February 2018/New York—NERA Economic Consulting, a leading global provider of economic advice and analysis in business, legal, and regulatory matters, is pleased to announce that Dr. Sharon Brown-Hruska and Tomas Haug have been promoted to Managing Director, Dr. Elizabeth Newlon to Director, and Dr. John Scalf and Dr. Nicola Tosini to Associate Director. In addition, the following experts have been promoted to Senior Consultant: Dr. Alexandre Carbonnel, Dr. Samantha Iyengar, and Zuzana Janeckova.

Managing Directors

Dr. Sharon Brown-Hruska, based in Washington, DC, is a member of NERA's Securities and Finance and White Collar, Investigations and Enforcement Practices. Dr. Brown-Hruska provides consulting and expert witness testimony in cases alleging fraud or manipulation in securities and derivatives markets, as well as numerous regulatory enforcement, litigation, and compliance matters. She has analyzed and testified before regulatory authorities on high frequency and algorithmic trading strategies. She has served as a damages and liability expert in various matters, including cases involving regulatory requirements and compliance, treatment of customer funds, money laundering, and losses arising from broker-dealer and futures commission merchant (FCM) bankruptcies. Prior to joining NERA, she served as Commissioner (2002–2006) and Acting Chairman (2004–2005) of the US Commodity Futures Trading Commission (CFTC).

Tomas Haug is a Berlin-based member of NERA’s Energy, Environment, Communications & Infrastructure Practice with 15 years of consulting and testifying experience. Mr. Haug provides economic assessment and damages quantification in litigation and international arbitration. Providing testimony predominantly in energy markets, including nuclear and renewables, he has worked on cases revolving around price adjustment clauses, hardship, and the evaluation of anti-competitive behavior. He also provides consulting services to utilities, investors, and regulatory authorities on a wide range of economic and financial issues, including efficiency studies, financial and tariff modeling, access pricing and competition policy issues, tariff structure, and wider regulatory and competition reform issues. He is an expert on the estimation of the cost of capital, financial modeling, and assessment of financial risk, including the design of mechanisms to mitigate risk. On several recent transactions, Mr. Haug acted as a due diligence advisor, among others, in Germany, Austria, France, and the UK.


Dr. Elizabeth Newlon is a member of NERA’s Labor and Employment Practice, as well as the Antitrust Practice, and is based in NERA’s Los Angeles office. She provides expert testimony and consulting services in individual, collective, and class actions in diverse labor matters. Dr. Newlon focuses on cases involving wage and hour violations (state law and the Fair Labor Standards Act), contractor misclassification, joint employment, and wage suppression. Her extensive experience with wage and hour matters includes allegations of unpaid overtime, incorrect regular rate, missed meal and rest breaks, minimum wage violations, and off-the-clock work. For contractor-misclassification class actions, Dr. Newlon is an expert in a wide range of damages calculations, including value of services and deduction/expense damages. She specializes in economics, statistics, and big data, using her knowledge to assist her clients in answering complex questions about compensation, employment relationships, worker behavior, and damages exposure.

Associate Directors

Dr. John Scalf is a Chicago-based member of NERA's Antitrust and Intellectual Property Practices. His main areas of expertise include industrial organization, microeconomics, and applied econometrics. He specializes in developing economic and statistical models to advise businesses, law firms, and government agencies on the competitive effects of mergers, pricing practices, and contracts on industry performance. In the context of his antitrust work, Dr. Scalf has analyzed the competitive effects of price fixing, monopolization, exclusive dealing, standard-setting organizations, and loyalty discounts, and he has prepared damage estimates arising from these issues.

Dr. Tosini is a Berlin-based member of NERA's European Competition Economics Practice and is an expert in the application of high- and low-tech empirical techniques to competition cases. He has ten years of experience in advising firms during merger reviews, antitrust investigations, and the litigation of damages. Dr. Tosini has submitted economic evidence to the European Commission and several national competition authorities, in particular in Germany and the UK. He has also been involved in the litigation of cartel damages before English, German, and Italian courts, providing key input for court filings, settlement discussions, and expert reports.

Senior Consultants

Dr. Carbonnel is a Paris-based member of NERA's European Antitrust and Competition Practice. Dr. Carbonnel has years of experience analyzing economic issues related to competition and regulatory investigations by the European Commission and national authorities in France and the UK.

Dr. Iyengar, based in New York City, specializes in survey research, sampling, and statistical analysis. She applies her expertise to matters involving class action, intellectual property, and other litigation, as well as market research and criminal justice issues.

Ms. Janeckova is a London-based member of NERA’s Energy, Environment, Communications & Infrastructure Practice, with a focus on financial aspects of network regulation and economic assessment of damages in the context of international arbitration.

About NERA

NERA Economic Consulting ( is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For more than six decades, we have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real-world industry experience to issues arising from competition, regulation, public policy, strategy, finance, and litigation.

NERA’s clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. Continuing our legacy as the first international economic consultancy, NERA serves clients from major cities across North America, Europe, and Asia Pacific.