Janko Cizel consults on matters involving securities, valuation, M&A, and risk management. Dr. Cizel analyzes market efficiency, loss causation, and economic losses in a wide range of industries and across different types of financial instruments. He works with clients and supports experts across all phases of litigation, including at trial.
Dr. Cizel’s case experience includes:
Securities
- Consulted on numerous Rule 10b-5 and Section 11 matters, including at the class certification and merits stages
- Consulted on securities class actions and collective actions in the U.S. and internationally, including in Canada and Europe
Valuation and M&A
- Performed valuation of companies in appraisal proceedings and commercial disputes in both federal and state courts
- Applied contingent claim valuation approaches to value equity claims and financial derivatives in venture capital–backed private companies
- Consulted through trial on matters related to the termination of M&A transactions or appraisal actions, including the first post-merger appraisal of a public company to reach a decision in trial outside Delaware
Risk management
- Analyzed financial derivatives to evaluate whether they functioned as a hedge
- Consulted through trial in a commercial dispute related to a currency hedge
- Applied credit risk models to evaluate bond issuance yields of a major corporate bond issuer
Dr. Cizel conducts research on credit risk, bank regulation, and securities, among other topics. His authored and coauthored studies have been published in the Journal of Fixed Income, the Journal of Money, Credit and Banking, and Law360. Dr. Cizel also coauthored a chapter on mutual fund returns and strategies in Commodities: Markets, Performance, and Strategies, published by Oxford University Press.
Before joining Cornerstone Research, Dr. Cizel was a visiting researcher at several policy institutions and international organizations, including the International Monetary Fund, the European Central Bank, the Dutch Central Bank, and the European Commission.
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