David Mordecai, President of Risk Economics and Compass Lexecon affiliate, filed multiple expert reports and provided deposition testimony on behalf of Ironshore Insurance in litigation against the company’s former asset manager, Western Asset Management Company. The dispute involved breach of contract and breach of fiduciary duty claims against Western Asset Management Company stemming from losses incurred by Ironshore on a fixed-income portfolio containing a large concentration of mortgage-backed securities. Dr. Mordecai was retained to evaluate the 15 risks of the fixed-income portfolio and estimate damages.
Dr. Mordecai was assisted by Peter Clayburgh, Michael Kwak, Tristram Worth, and Ara Demirjian from the Compass Lexecon Pasadena and New York offices. The team worked closely with Cahill Gordon & Reindel LLP. The case settled in January 2014.
David K.A. Mordecai is President and Co-Founder of Risk Economics®, a New York City based advisory firm, as well as Senior Advisor to and a Member of the Advisory Committee of Compass Lexecon. The Risk Economics® litigation advisory practice provides advisory services and testimonial expertise on complex issues related to financial instrument valuation models and frameworks, market and industry standards and practices for the financing, risk management, active trading, and hedging of OTC derivatives and structured products.
As lead for the Risk Economics® litigation and arbitration advisory practice, Dr. Mordecai serves as an expert on loss causation and economic damages related to market structure, financial institutions governance, and complex issues related to finance, economics and market standards and practices within securities, derivatives, reinsurance, and commodities markets, as well as market structure within a broad range of non-financial industry sectors. His expertise includes industrial and financial engineering, the valuation of fixed income securities and structured products, including over-the-counter derivatives (in particular fixed income and credit derivatives), complex insurance and reinsurance liabilities, as well as asset liability and risk management models and practices. Having testified extensively at deposition, trial, arbitration and international arbitration, he has been admitted as an expert in federal, state and county courts, and cited favorably in court decisions.