Eric Tam specializes in securities litigation. Mr. Tam has more than fifteen years of experience consulting to clients and addressing financial economics issues and class actions in federal and state courts, including the Delaware Court of Chancery. His experience spans all stages of the litigation process, including exposure analysis, class certification, expert support, summary judgment filings, mediation and settlement analysis, trial preparation, and regulatory proceedings.
Securities litigation
Mr. Tam has extensive expertise with securities litigation involving alleged misrepresentations under Sections 10(b) and 14(a) of the Exchange Act and Sections 11 and 12 of the Securities Act. He also addresses claims of market manipulation under Sections 9 and 10(b) of the Exchange Act. Mr. Tam’s work includes:
- Leading large teams to analyze class certification issues (market efficiency, price impact, evaluation of damages methodologies in the context of Comcast standards), as well as loss causation, damages, and materiality
- Supporting experts in financial economics matters in both federal and state courts
- Analyzing common and preferred stocks, corporate bonds, convertible securities, derivative securities, and American Depositary Shares across a range of industries, as well as structured finance products in different markets
- Consulting on damages exposure, initial assessment of class certification and merits issues, mediation strategies, potential settlement ranges, deposition, and trial preparation
White collar
Mr. Tam consults on Securities and Exchange Commission (SEC) and white collar matters, including analyzing potential disgorgement and damages. His experience includes:
- Consulting on an internal and regulatory investigation involving mutual funds and analyzing the effect of potential conduct on the funds’ net asset value
- Analyzing market structures, market conditions, and information disclosures to evaluate the causes of potential stock price anomalies
- Conducting event study analysis to assess executives’ financial benefit resulting from alleged accounting misstatements
- Examining trading patterns, communications, and market data to assess alleged insider trading or manipulation in stock markets
Valuation
Mr. Tam analyzes economic issues arising in merger and acquisition (M&A) litigation before the Delaware Court of Chancery. Representative work includes:
- Evaluating the discounted cash flow (DCF), comparable companies, and precedent transactions analyses in M&A fairness opinions
- Assessing valuation-related aspects of material adverse change (MAC) claims in the potential termination of a large M&A transaction
Financial institutions and data analytics
Mr. Tam works on a range of financial institutions matters that require sophisticated analyses of large volumes of data. Examples of his work include:
- Analyzing investor transactions and mutual fund portfolio composition to evaluate the fund’s adherence to investment policies and potential damages
- Using Monte Carlo simulation methods to model and value expected future cash flows from the management of investment accounts
- Applying statistical methods to model the loan performance of tens of millions of U.S. mortgages in mortgage-backed securities litigation