Andrew Hildreth

Managing Director

Dr. Hildreth has more than 25 years’ experience in economics and statistics as both an academic and as a partner in a professional services firm.

Andrew Hildreth has more than 25 years’ experience in economics and statistics as both an academic and as a partner in a professional services firm.

He has worked with a wide range of clients, including multinational corporations in industries such as financial intermediaries (banks, insurance companies, private equity), pharmaceutical, telecommunication, industrial chemicals, energy including nuclear, construction, transport, education, and luxury goods and services. His work involves complex economic and statistical modelling involving the management of large teams of consultants, liaising with attorneys and clients, and modelling and predicting potential outcomes with large and complex datasets.

He was formerly an expert for the US Department of Justice concerning exchange rate fixing. He was also an expert for Atofina concerning allegations of price-fixing in the PVC hardeners industry against the Department of Justice. He was an expert for the European Commission estimating the effects of the Single Market measures in 1996.

Dr. Hildreth has been expert witness in a number of notable matters in the financial litigation, anti-trust, and employment areas. His testimony has informed courts on the statistical limits to collective redress in estimating damages in class action, estimated damages for foreclosure in the US credit card market, uncompetitive fees across payment systems, and damages resulting from company’s fraudulent behaviour towards financial reporting. He has testified in courts and legal matters in Australia, Hong Kong, Switzerland, England and Wales, and the US (Federal and State courts).

Before joining Secretariat, he was a professor of economics, research director at the Census Research Data Center, and professorial researcher at the Survey Research Center at the University of California-Berkeley. Prior to that, he held various roles in the consulting firms CRA International, Alix Partners LLP, and Alvarez Marsal LLP, Ankura LLP. Andrew also started his own consulting practice while an academic.

Dr. Hildreth has published in notable peer-reviewed economic and statistics journals; the results of which have been quoted in the national press.

Example cases as expert witness:

American Express v. Visa, MasterCard, et al. (anti-trust restrictive practices private litigation). Representing plaintiffs seeking damages for defendants’ restrictive practices in the US credit card market. Private litigation following on from Department of Justice legal action against Visa and MasterCard restrictive rules.

MBIA Insurance Corp v. Various banks (e.g. Countrywide). (Private litigation). Modelling the causation and the damages elements to claims by MBIA that the banks had misled the insurance company as to the degree of defaults for the residential mortgages in the Residential Mortgage Backed Securities (RMBS). Plaintiff. Current. MBIA claim that the dilution of underwriting standards caused the increased defaults.

Claimants v. RSA Insurance. Securities class action under section 90A of the FSMA (Financial Services and Markets Act) 2000. Estimating the value of the information disclosure to institutional shareholders. Event study and data verification work. Expert report on materiality and efficiency filed. English High Court.

Claimants v. Kansai Electric Power Co., Inc. (Japanese: 関西電力株式会社).  Securities class action under the FIEA (Financial Instruments and Exchange Act, 2006, Japan), estimating the damages suffered by shareholders from Kansai executives’ bribery and corruption.  Event study and LIFO/FIFO/WA damage models.  Specific FIEA damage models.  Expert report filed.  Osaka District Court, Osaka, Japan.

Duran v. US Bank. (Off the clock wage & hour litigation). Representing defendants (class action) in an overtime dispute over out of hours work. Sampling and limits to the estimation of damages in class action using inferential statistics.  Defence.  CA Supreme Court 59 Cal.4th 1172, Cal. Rptr. 3d 371, 325 P.3d 916. Docket: S200923

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