NERA Economic Consulting Announces Senior-Level Promotions

03 August 2020

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. Sheng Li, Jonathan S. Polonsky, and Marcelo Rabinovich have been promoted to Associate Director, and Dr. Devalina Chatterjee, Edward Flores, Dr. C.-Philipp Heller, Sungi Lee, Max Luke, and Janeen McIntosh have been promoted to Senior Consultant.

Associate Director

Dr. Sheng Li conducts research and economic analysis in antitrust and intellectual property matters. He has evaluated damages theories in cases involving alleged monopolization, exclusive dealing, and price fixing. Dr. Li has also assessed damages arising from patent infringement and issues related to antitrust patent misuse. He has analyzed competitive issues in a variety of industries, including medical devices, auto insurance, transoceanic shipping, and prescription eyewear. He has recently published articles in various publications of the American Bar Association’s Section of Antitrust and has been featured in a legal podcast discussing topics such as big data, artificial intelligence, and life sciences matters. 

Jonathan S. Polonsky has over 15 years of experience in disputes and matters in various areas within securities, including M&A-related litigation, corporate valuation, economic damages, appraisal actions, corporate governance, securities class actions, international arbitration, litigation involving private equity and venture capital firms, and the value of voting rights in dual class companies. He has been retained as a valuation expert in mediation, where his valuation was accepted by both plaintiffs and defendants, thereby settling the litigation. Mr. Polonsky has managed or been involved in numerous multi-billion-dollar, high-profile cases for several testifying experts. These cases include large Delaware appraisal actions, litigation relating to the recapitalization of two of the largest technology firms in the world, and a large bankruptcy case involving an oil rig company that went to trial.

Marcelo Rabinovich specializes in the economics of energy markets applied to regulation, due diligence, competition policy, market design, and litigation. He has advised utilities and investors in matters related to the remuneration of regulated activities, including due diligence of network assets and estimation of cost of capital in Spain and other European countries. Mr. Rabinovich has broad experience in wholesale electricity market modeling and bidding strategy and has assisted companies in several investigations on competition policy issues. His experience also covers litigation cases on contractual and regulatory disputes in Europe and Latin America, which have been heard before courts and arbitration panels.

Senior Consultant

Dr. Devalina Chatterjee conducts economic research and analysis concerning issues arising from patent, trademark, and copyright infringement, as well as the misappropriation of trade secrets, breaches of contract, and anticompetitive behavior. She has expertise in applying economic theory, statistics, and complex econometrics tools to analyze damages and calculate lost profits and reasonable royalties, and has done so in a wide range of industries, including consumer goods, gaming, software, technology, and pharmaceuticals, among others.

Edward Flores specializes in securities class action litigation and has supported expert testimony for securities litigation, asset valuation disputes, and insider trading cases. He has conducted economic, financial, and statistical analyses in issues such as market efficiency and class certification, assessing materiality and loss causation, and estimating damages across equity, debt, and derivative securities. His experience spans a number of industries, including pharmaceuticals, financial services, information technology, consumer goods, and energy, among others.

Dr. C.-Philipp Heller advises clients in all aspects of competition and antitrust economics. He has experience working on cartel damages litigation, national and international merger notifications, and international arbitration, as well as government antitrust investigations and regulatory procedures. He is a skilled user of a variety of theoretical, empirical, and econometric techniques, including game theory, surveys, and regression analysis. Dr. Heller has written research articles on topics including the competition economics of sports media rights, regulation of self-driving cars, exclusionary bundle discounts, and the pass-on of overcharges.

Sungi Lee is a member of NERA’s Global Securities and Finance Practice where he specializes in damages, valuation, mergers and acquisitions, bankruptcy, and class certification matters in state and federal litigation, mediation, and arbitration. Mr. Lee advises clients on fixed income securities, funds and portfolios, structured products, derivatives, and securitizations, and applies economic, financial, and accounting analysis to assess claims and allegations. In addition, he models, projects, and values claims and liabilities in product liability and mass torts cases, including asbestos, silica, coal mine dust, recalls, and automobiles, as well as transaction due diligence. Mr. Lee also supports academic experts in the preparation of expert reports, deposition, and trial testimony.

Max Luke has deep experience in the economic, regulatory, and financial aspects of emerging trends in the electric power and natural gas sectors. Mr. Luke supports the design of electricity rates associated with renewable and distributed energy technologies and analyzes the impact of such technologies on utility business models. He has assessed the effects of emerging energy industries such as offshore wind and electric vehicle charging on regional economies. Mr. Luke has considered regulatory remedies to deal with rising utility costs associated with catastrophic weather events. He has supported the mergers of electricity companies and facilitated the entry of companies into retail electricity markets.

Janeen McIntosh has over 15 years of experience in financial and economic advisory and litigation consulting for matters in the area of securities and finance, product liability and mass torts, and labor and employment. Ms. McIntosh has consulted on securities class actions examining materiality, loss causation, and liability. Her work on these cases has included estimating inflation, damages, and settlement ranges. She has also conducted analyses for class certification and market efficiency. She frequently works with large data sets, designing models to evaluate liability and performing various statistical analyses. Ms. McIntosh is the lead author for NERA’s annual securities class action trends report series.

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.