Alex Vasaly specializes in matters related to corporate valuation, mergers and acquisitions (M&A), and securities litigation. Mr. Vasaly also coheads Cornerstone Research’s real estate practice. He works with clients and experts through all phases of litigation, including deposition and trial.
Valuation
Mr. Vasaly values companies in appraisal proceedings and commercial disputes in federal and state courts, as well as in international jurisdictions. He has extensive experience applying discounted cash flow (DCF), comparable company, and precedent transaction valuation methodologies. Mr. Vasaly also addresses issues related to market efficiency and deal process in connection with take-private transactions of public companies.
Real estate
Mr. Vasaly consults on issues involving real estate investment, finance, development, and valuation. In conducting damages analyses, he has evaluated the economic impact of changes in real estate markets and estimated the value of large-scale development projects. He also has extensive experience with structuring, underwriting, and originating construction and permanent debt financing; credit risk and loan portfolio management; and investments in projects financed with tax credits.
Merger reviews
Mr. Vasaly conducts merger analyses in a variety of contexts. Notably, he has assessed the merger-specificity and verifiability of claimed efficiencies in high-profile merger reviews, including U.S. v. Aetna/Humana and United States v. Bertelsmann Se & Co. KGaA et al. Mr. Vasaly has also analyzed competitive effects and counterfactual valuations of proposed and completed mergers.
Securities
Mr. Vasaly analyzes damages, market efficiency, price impact, and loss causation in Rule 10b-5 and Section 11 cases. He has worked on matters involving common stock and bonds issued by firms in the banking, healthcare, pharmaceuticals, and real estate industries, among others. Mr. Vasaly’s experience includes issues related to financial accounting restatements, government investigations, risk management procedures, business combinations, and the clinical development of pharmaceutical drugs.
Prior to joining Cornerstone Research, Mr. Vasaly worked in real estate finance at JPMorgan.
Merger Enforcement Considerations: Implications for Venture Capital Markets and Innovation
Cornerstone Research Staff and Affiliated Experts Submit Comments to the Joint FTC-DOJ Inquiry on Merger Enforcement