Karl N. Snow is a leading expert in finance and statistics. He is regularly retained to provide oral and written testimony in federal and state courts on asset valuation, economic and financial damages, materiality and causation, and statistical sampling, working on behalf of government, law firm, and corporate clients. Dr. Snow has significant experience as both a testifying expert and consulting economist in a wide range of high-profile matters involving financial securities, structured products, market manipulation, fund performance, discount rates, bankruptcy, contract claims, insurance coverage and valuation, and discrimination in mortgage and labor markets.
Prior to joining Bates White, Dr. Snow was a Senior Economist at Welch Consulting. He also served as Principal Economist in the Housing Analysis and Research group at Freddie Mac, and as Director at UBS Investment Bank (formerly UBS Warburg). In addition to his professional experience, Dr. Snow held professorships in the finance departments of the Kenan-Flagler Business School at the University of North Carolina-Chapel Hill and the Stockholm School of Economics, and in the economics department at Brigham Young University. He has taught courses and presented workshops on finance and economic topics at academic institutions in Europe and the United States.
PhD, Economics, University of Chicago
MA, Economics, University of Chicago
BA, Economics, Brigham Young University
- On behalf of the Department of Justice (DOJ) in DOJ v. Quicken Loans, provided a written report and deposition testimony on sampling and damages.
- As testifying expert on behalf of Residential Funding Company, LLC, and the ResCap Liquidating Trust in a number of lawsuits consolidated in Minnesota and New York courts, proposed and implemented sampling protocol to assess mortgage loan defect rates.
In the matter MASTR Adjustable Rate Mortgages Trust 2006-OA2 v. UBS Real Estate Securities involving mortgage-backed securities, submitted expert reports and testified in federal court.
- On behalf of Pfizer in bankruptcy proceedings of its subsidiary Quigley, submitted an expert report and testified in federal court on financial assets and insurance contracts proposed to be transferred to a 524(g) trust to cover Quigley's asbestos-related liabilities.
- In the matter In re Lehman Brothers Holdings, et al. Chapter 11 bankruptcy, submitted expert reports and testified in federal court.
- In the matter In re Plant Insulation Company Chapter 11 bankruptcy, submitted expert reports and testified in federal court on the value of various proposed transactions.
In the matter Twin City Fire Insurance Co. et al. v. Arch Insurance Group Inc., submitted an expert report in state court on damages alleged to have been caused by various employees leaving one corporation for a competitor.
- In the matter First American CoreLogic, Inc. v. Fiserv involving a patent for estimating residential property values, submitted expert reports and testified in federal court.
- In the matter House of Europe Funding I, LTD v. Wells Fargo et al. involving a synthetic collateralized debt obligation, submitted an expert report in federal court.
- In the matter Richardson v. Pratcher, submitted expert reports and testified in federal court on damages associated with claims of wrongful termination.
- In the matter Syncora Guarantee Inc. v. EMC Mortgage Corp. involving mortgage-backed securities, submitted an expert report in federal court on economics of securitization process and estimated damages.
- In the matter In re Garlock Sealing Technologies, LLC, submitted an expert report in federal court on the appropriate discount rate and the present value of the company’s asbestos-related liabilities.
In the matter In re TFT-LCDs Antitrust Litigation, submitted expert reports calculating damages on behalf of direct-action plaintiffs involved in price-fixing litigations in the United States, Asia, and Europe. Calculated damages on behalf of two OEM direct-action plaintiffs. Analyzed issues of pass-through overcharges at multiple stages of the supply chain.
- Provided consulting analysis for a securities exchange on issues relating to high-frequency trading of financial securities.
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- June 10, 2009 – June 11, 2009
- November 18, 2008 – November 19, 2008
- March 18, 2008 – March 19, 2008