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Photo of Aparna  Sengupta, PhD


Aparna Sengupta is a Principal in the Antitrust and Competition Practice, specializing in using empirical methods for antitrust and competition analysis. Her expertise includes event studies, merger simulation, retrospective analysis, damages estimation, and experiment design. She is also skilled in evaluating the validity of analyses presented by other experts. Dr. Sengupta played a key role in establishing the Data Science Committee at Bates White and has extensive experience in applying and advising on the use of artificial intelligence and machine learning. She has successfully managed cases that involve handling large and intricate data sets.

Dr. Sengupta has deep expertise in mergers (horizontal and vertical), collusion, policy, and monopolization cases involving two-sided markets. She has been retained on behalf of defendants—former executives at leading poultry processing companies—in a criminal antitrust price-fixing matter brought by the federal government. Other recent cases for which she has led analyses and provided expertise on behalf of regulatory agencies include Federal Trade Commission v. Peabody Energy Corp. et al., In re Tronox / Cristal USA, and against dental distributors In re Benco, Schein, and Patterson. She worked on behalf industry clients (shippers) in In re Rail Freight Fuel Surcharge Antitrust Litigation, and in American Express Anti-Steering Rules Antitrust Litigation II, she analyzed Amex’s market power. In addition, she has managed economic analyses relating to causation and damages concerning allegations of inappropriate marketing of prescription opioids.


PhD, Economics, Boston University

MS, Quantitative Economics, Indian Statistical Institute, India

BS, Economics (Honors), St. Xavier’s College, India

Selected Work

Selected Experience

  • Retained on behalf of defendants to analyze market definition and harm in a case of alleged collusion in a service industry.
  • Retained as expert to perform economic analyses on behalf of defendant concerning allegations of price-fixing and bid-rigging in the food industry.
  • In In re Rail Freight Fuel Surcharge Antitrust Litigation, led the economic analyses relating to liability and damages estimation on behalf of the plaintiffs.
  • Supported the expert on behalf of the Federal Trade Commission (FTC) in its efforts to block the formation of a joint venture between Peabody Energy Corporation and Arch Resources.
  • In In re EpiPen ERISA Litigation, provided expert support regarding the reliability of plaintiffs’ proposed classwide remedies on behalf of the joint defense group of leading Pharmacy Benefit Managers, defending alleged breach of fiduciary obligations associated with EpiPen® rebates.
  • On behalf of the Federal Trade Commission (FTC) in its litigation over the proposed merger between Tronox and Cristal, supported the expert in providing key market definition analysis and modeled the likely unilateral and coordinated effects of the merger. 
  • In In re Dealer Management Systems Antitrust Litigation, supported the expert to submit a rebuttal report on behalf of CDK Global. Reviewed and evaluated liability opinions of multiple plaintiff expert reports and analyzed the conduct of CDK and Reynolds to assess the merits of plaintiffs’ allegations.
  • On behalf of Sinclair Broadcast Group, Inc., supported the expert in analyzing the likely competitive effects of Sinclair’s acquisition of regional sports networks originally owned by 21st Century Fox. 
  • On behalf of American Express in American Express Anti-Steering Rules Antitrust Litigation II, provided support to the expert. Analyzed Amex’s market power and agreements with merchants to opine on whether Amex’s agreements with merchants serve or restrict competition. 
  • On behalf of the Federal Trade Commission, which alleged that full-service dental distributors Benco, Henry Schein, and Patterson conspired to refuse to offer discounted prices or otherwise negotiate with buying groups seeking to obtain supply agreements for groups of independent dentists, supported the expert in providing written and deposition testimony defining relevant markets, analyzing alleged conduct, and evaluating its effects.
  • Prepared economic analysis on behalf of the Canadian Competition Bureau in support of its review of the acquisition of Manitoba Telecom Services, Inc. by BCE Inc.
  • Assisted counsel for International Paper Company by performing merger analyses, including a merger simulation, of International Paper’s proposed acquisition of Weyerhaeuser's pulp business
  • Supported lead consulting expert on behalf of DuPont in its proposed merger with Dow Chemical by performing retrospective analysis, merger simulation, and customer switching analysis.
  • Provided support for the consulting expert for a top US medical school and healthcare provider in estimating the research and business losses occurring after a natural disaster.

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