David K.A. Mordecai, President of Risk Economics, filed two expert reports on behalf of the MF Global Plan Administrator in MF Global Holdings Ltd. as Plan Administrator v PricewaterhouseCoopers LLP. This claim seeks in excess of $2 billion in damages for the professional negligence of accounting firm PricewaterhouseCooper (PwC) as MF Global’s auditor. The opinions provided in Dr. Mordecai’s reports, filed in August and November 2015, focused primarily on causation.
On August 5, 2016, U.S. District Court Judge Victor Marrero upheld the claims brought by MF Global Holdings against PwC. Judge Marrero’s decision, which cited Dr. Mordecai’s opinions extensively, denied PwC’s summary judgment motion, and clears the way for the case to proceed to trial.
Dr. Mordecai is being primarily supported by Samantha Kappagoda from Risk Economics. He is working with a team of attorneys led by Daniel J. Fetterman, which includes Michael C. Harwood, Trevor J. Welch, Christian T. Becker, David J. Mark, and Frank DiCarlo.
David K.A. Mordecai is President and Co-Founder of Risk Economics, a New York City based advisory firm. Risk Economics specializes in the application of computational economics to the proprietary development and scalable implementation of robust modeling and data analytic frameworks for valuation, strategic and systemic risk analysis, and dynamic asset-liability management.
As lead for the Risk Economics® litigation, regulation and arbitration expert advisory practice, David 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. He has advised and provided technical oversight for internal regulatory investigations, as well as stress-testing for global financial institutions. 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.