News Category: News

StoneTurn Announces Senior Promotions Across the Globe

StoneTurn, a global advisory firm that assists companies, their counsel and government agencies on regulatory, risk and compliance issues, investigations, and business disputes, today announced its all-female class of promotions. Sarah Keeling has been named as Partner in the U.K. and Kimberly Ratto has been promoted to Managing Director in the U.S.

“StoneTurn is extremely proud of the diversity and depth of expertise represented across our team of professionals,” said Christopher Martinez, Managing Partner and Co-Founder of StoneTurn. “Congratulations to my colleagues around the world on their well-deserved promotions. The recognition is a testament to their commitment to extraordinary client-focused efforts, leadership and dedication to our unique, people-first firm culture.”

Sarah Keeling, based in London, is former senior British government official with significant experience in national security and intelligence matters in the U.K. and overseas, as well as complex, multi-jurisdictional anti-bribery and corruption investigations, asset tracing and recovery. Sarah provides litigation support for international arbitration and disputes revolving around political, regulatory or integrity issues and assists companies, family offices and their counsel on operational, reputational and investment risk matters worldwide. Over the past three decades, Sarah has served as a trusted adviser to Board-level clients on their strategies in the Middle East, Iran and Sub-Saharan Africa. She also specializes in terrorist financing, piracy and maritime security issues and previously served as Lloyds of London’s senior adviser on piracy. Sarah also served as Chairman of the Risk & Security Management Forum (RSMF) in the U.K. and is a frequent coach and mentor for rising female executives worldwide.

In addition to the new Partner appointments, StoneTurn is pleased to announce the firm’s U.S. class of Managing Director promotes, including:

San Francisco
Kimberly Ratto, CFE

StoneTurn Supports Independent Investigation into the Financial Conduct Authority’s Regulation and Oversight of London Capital & Finance Plc.

StoneTurn Partner David Stern Instructed to Provide Independent Review of Financial Documentation in Landmark Case

StoneTurn, a global advisory firm that assists companies, their counsel and government agencies on regulatory, risk and compliance issues, investigations, and business disputes, today announced the conclusion of its work as part of the investigative team supporting the former Court of Appeal judge, the Rt. Hon. Dame Elizabeth Gloster DBE in her independent investigation into the Financial Conduct Authority’s regulation and oversight of London Capital & Finance Plc. The Financial Conduct Authority (FCA) and the Serious Fraud Office are investigating the circumstances of the collapse of the financial services company, which impacted over 11,000 retail investors who had invested over £230m.

Chartered Accountant David Stern, a Partner in StoneTurn’s London office, was instructed to undertake an independent review of financial documentation of London Capital & Finance during its regulatory lifecycle, as was made available to the FCA.

His detailed findings can be found in Dame Elizabeth’s report, which was recently presented to Parliament and published by HM Treasury at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/945247/Gloster_Report_FINAL.pdf along with the FCA’s response.

David was engaged by Dechert LLP’s London office and worked closely with the law firm’s Head of Disputes in London, Dorothy Cory-Wright and her colleagues John Bedford and Richard Frase, to carry out the investigation in support of Dame Gloster.

Neil Ashton and David Stern Again Named Among Who’s Who Legal’s Leading Arbitration 2021 Expert Witnesses

StoneTurn is pleased to announce that two of its London-based Partners, Neil Ashton and David Stern, have again been named as top expert witnesses by Who’s Who Legal (WWL) Arbitration 2021. According to WWL, Neil and David are among “the foremost arbitration expert witnesses around the world who stand out for their excellence providing testimony in complex proceedings.”

Since 1996, Who’s Who Legal has identified the industry’s foremost practitioners based upon comprehensive, independent, global survey work. The 2021 research process was WWL’s most extensive ever and reflects tens of thousands of recommendations from clients and peers around the world with 95 countries listed.

“David is very experienced and knows what is required of an expert. His work is balanced and considered.” Similarly, Who’s Who Legal respondents found Neil to be “highly user friendly, very thorough and diligent” and remarked that “In commercial court he withstood rigorous cross examination by opposing leading counsel.”

Click here to view the full WWL Arbitration 2021 rankings.

Luke Tenery Joins StoneTurn as a Partner

Global Advisory Firm Continues to Expand Risk Mitigation, Investigations and Technology Capabilities with Addition of Renowned Cybersecurity Expert

StoneTurn, a global advisory firm that assists companies, their counsel and government agencies on regulatory, risk and compliance issues, investigations, and business disputes, today announced that Luke Tenery, a leading cybersecurity adviser to multinational organizations, has joined the firm as a Partner in Chicago. A consulting industry veteran, Luke specializes in mitigating complex cybersecurity, data privacy and data protection risks.

“As the global pandemic exposes vulnerabilities in internal controls worldwide, we are pleased to expand StoneTurn’s already strong capabilities in risk mitigation, forensic technology and investigations with highly specialized cybersecurity expertise,” noted Christopher Martinez, StoneTurn’s Co-Founder and Managing Partner. “Luke’s proven experience assisting clients across the threat and risk continuum make him a valuable addition to the StoneTurn team. We look forward to leveraging his insights in both proactive and reactive client matters and having him lead a dedicated cybersecurity practice for our growing firm.”

Prior to joining StoneTurn, Luke founded the global cyber practice and led the cyber response, investigations, and intelligence practice of an international consulting firm, handling a range of active and emergent cybersecurity threats. Earlier in his career, Luke rose to Deputy Cyber Practice Leader over a 15-year tenure with a global risk management and investigations firm. He is a certified chief information security officer (C/CISO) and applies nearly 20 years of experience helping companies combat and remedy hacker intrusions.

“I am humbled to join StoneTurn’s deep and sophisticated team of professionals,” said Tenery.  “Facing cyber risk in a strategic way is a constant challenge in today’s marketplace, as the constant evolution of technology and threats continues to have a significant impact on how business gets done.  StoneTurn is well positioned to continue to assist organizations with their most critical risk and high impact issues, while maximizing the opportunities where cyber risk intersects with the business.”

As a StoneTurn Partner, Luke will work closely with organizations and their counsel to address the underlying security, threat and control issues that often lead to cyber incidents. He will assist clients in aligning robust information security risk management with high-impact initiatives, including remediation, M&A due diligence and integration, cyber cost analyses, digital transformation, and Secure Operations Center (SOC) and threat intelligence program management.

Annie Cooper Recognized With AICPA Standing Ovation

StoneTurn Senior Consultant Annie Cooper Acknowledged by The American Institute of CPAs (AICPA) with Forensic and Valuation Services Standing Ovation

The American Institute of CPAs (AICPA) has recognized Annie Cooper for her work to enhance the stature of the accounting profession as part of its 2020 Forensic and Valuation Services (FVS) Conference. Each year, the Standing Ovation Recognition Program honors CPAs for significant contributions in their areas of accounting specialty and in their communities.

In just four years as a CPA/ABV, Annie has accumulated an impressive array of experience from consulting in business valuation, litigation support, and both federal and state tax matters to advise a variety of clients, including high net worth individuals, estates and trusts, commercial and real estate, public- and privately-owned businesses.

Annie is also a volunteer at the non-profit organization The Beacon, which provides essential and next-step services to restore hope and help end homelessness in Houston.

Read the full press release.

TRACE and StoneTurn Announce Strategic Alliance

TRACE, a globally recognized business association dedicated to anti-bribery, compliance and good governance and leading provider of shared-cost third-party risk management solutions, and StoneTurn, a global advisory firm that assists companies, their counsel and government agencies on regulatory, risk and compliance issues, investigations and business disputes, today announced a strategic alliance to expand their services through mutual cooperation.

In collaboration with StoneTurn, TRACE will offer its members and clients advisory and investigative services that complement its membership and due diligence solutions to provide companies with a broader range of strategic compliance advisory services.

StoneTurn clients will have immediate and seamless access to the background screening due diligence services, risk management tools and cost-effective compliance training offered by TRACE.

“Through this new partnership, TRACE is pleased to supplement its widely respected due diligence and training offerings to members and clients with access to a trusted adviser for complex internal investigations, monitorships and other holistic compliance-related consulting services not offered by TRACE,” said TRACE President Alexandra Wrage.

Through this strategic alliance, TRACE and StoneTurn are able to provide companies with comprehensive investigative and compliance solutions and advisory services focused on reducing operational risk in a cost-effective manner.

To learn more about this alliance, please contact vdipalma@traceinternational.org or lcamerlengo@stoneturn.com.

Neil Ashton, David Stern Named Among Who’s Who Legal 2020 Quantum of Damages Experts

StoneTurn is pleased to announce that two of its London-based Partners, Neil Ashton and David Stern, have been named by Who’s Who Legal (WWL) as quantum of damages consulting experts. This latest recognition follows recent WWL accolades for Neil and David in the Arbitration Expert Witnesses category.

Since 1996, Who’s Who Legal has identified the industry’s foremost practitioners based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who meet independent international research criteria are listed.

Marking his seventh acknowledgment from Who’s Who Legal, David was cited in Consulting Experts 2020 as part of the Financial Advisory and Valuation – Quantum of Damages category as an “impressive expert” who draws praise for his wealth of experience in forensic accounting investigations and quantifying loss in disputes.

Neil, in his third ranking by Who’s Who Legal, was cited for his “great understanding of forensic accounting issues” and his “very thorough” approach to damages quantification.

Click here to view the full WWL Consulting Experts 2020 rankings.

StoneTurn Further Expands Global Footprint with Los Angeles Office

Global Advisory Firm Adds Third California Location to Serve West Coast Clients

StoneTurn, a global advisory firm that assists companies, their counsel and government agencies on regulatory, risk and compliance issues, investigations, and business disputes, today announced the opening of a new Los Angeles office. The firm’s L.A. office will be led by Dr. Atanu Saha, Ph.D., who recently joined StoneTurn as a Partner. Dr. Saha is a renowned economist and a seasoned expert witness with nearly three decades of experience in the application of economics and data analytics to complex business issues.

“I’m thrilled to call the Los Angeles area home,” Dr. Saha explained. “StoneTurn’s ongoing work to assist clients in fast-growing sectors within the state such as healthcare and life sciences, technology, finance and banking, oil and gas and service-based industries can now be augmented with on-site expertise from our multidisciplinary team as needed. I look forward to sharing how our data-driven and economics-based approach can assist clients and counsel alike in unraveling the complexities of pending litigation.”

The opening of the Los Angeles office is the latest in StoneTurn’s continued expansion of its global operations, and builds upon the firm’s established West Coast presence in San Francisco and Palo Alto. StoneTurn currently serves clients from 16 offices across the U.S., U.K. and in Germany, Brazil and South Africa, assisted by a network of senior advisers around the world.

“As the largest government center outside of Washington, DC and home to a burgeoning technology center across five counties, Los Angeles is the next logical step in our firm’s long-term strategic expansion efforts,” said Christopher Martinez, StoneTurn Co-Founder and Managing Partner. “Atanu’s understanding of both the Los Angeles market and global disputes landscape, combined with our team’s significant litigation advisory, intellectual property, expert witness, arbitration, compliance and investigations experience worldwide, uniquely positions StoneTurn to best serve the countless top-tier organizations nearby.”

Former U.S. Deputy AG Larry D. Thompson and Team Complete Monitorship in Volkswagen AG Emissions Proceedings

A Team of Leading Corporate Fraud, Environmental, and Compliance Experts Oversaw Compliance Reforms and Successful Implementation of the Terms of the Plea Agreement

The Independent Corporate Compliance Monitor and Auditor for Volkswagen AG, Larry D. Thompson, announced today that Volkswagen AG and its subsidiaries and affiliates met the commitments established under the terms of its 2017 plea agreement with the U.S. Department of Justice (DOJ). (Note that Porsche AG and Porsche Cars NA were excluded entirely from the monitorship.) Since his appointment in 2017, Thompson and his team have worked to assess whether Volkswagen’s compliance and ethics programs were reasonably designed and implemented to prevent and detect violations of anti-fraud and environmental law.

The U.S. government appointed Thompson, a former U.S. Deputy Attorney General and currently counsel at Atlanta-based Finch McCranie, LLP, as the Independent Corporate Compliance Monitor and Auditor for Volkswagen.  His appointment was part of Volkswagen’s criminal plea agreement stemming from the company’s scheme to sell diesel vehicles containing software designed to cheat on U.S. emissions tests. Thompson and his team oversaw Volkswagen’s compliance reforms and successful implementation of the terms of the plea agreement.

“In three years, Volkswagen AG has become a different and better company,” said Thompson. “Volkswagen can be proud of the progress it has made. It will require continued vigilance, but the structures and processes in place and the commitments at all levels of the company, along with the oversight of the Supervisory Board, can make Volkswagen a long-term and sustainable ethics, integrity, and compliance success.”

During his tenure as Deputy Attorney General from 2001 to 2003, Thompson led the DOJ’s National Security Coordination Council, as well as the government-wide Corporate Fraud Task Force. Previously, Thompson was a partner with Atlanta-based King & Spalding, LLP.  Earlier in his career, he served as U.S. Attorney for the Northern District of Georgia, and as Independent Counsel for the Department of Housing and Urban Development Investigation.  Thompson also served as Executive Vice President for Government Affairs and General Counsel for PepsiCo.

To assist him in monitoring Volkswagen’s corporate compliance, Thompson assembled a team of leading corporate fraud, environmental, and compliance experts.  Leaders of the team included:

Thompson was also assisted by an accomplished group of subject matter experts from pertinent areas including emissions, compliance, ethics and integrity, fraud, risk management, legal and audit.  “I am honored to have led such a knowledgeable, experienced and absolutely dedicated team,” said Thompson. “I cannot say enough about their hard work, diligence, efficiency, and professionalism. Obviously, this project was critically important on numerous levels, but this was the right team for the challenge. All team members should be proud of their outstanding collective accomplishment.”

Read the official press release here.

Dr. Atanu Saha Joins StoneTurn

Global Advisory Firm Strengthens Litigation Advisory Practice with Economics and Data Experts

StoneTurn, a global advisory firm that assists companies, their counsel and government agencies on regulatory, risk and compliance issues, investigations, and business disputes, today announced that Dr. Atanu Saha, Ph.D., an economist and expert in finance and securities litigation matters, has joined as a Partner. Dr. Saha brings nearly three decades of experience in the application of economics and data analytics to complex business issues to the firm’s Litigation Advisory practice.

A frequent and well-respected expert witness, Dr. Saha has provided testimony in disputes related to securities fraud, market manipulation, 10b-5 claims, antitrust, patent infringement, valuation of investment portfolios and commercial damages. In addition, his research on securities litigation issues has been cited by the U.S. Court of Appeals for the 11th Circuit. Dr. Saha will leverage his considerable expertise in the energy, financial services, pharmaceutical and healthcare sectors, as well as a specialization in data analytics, to assist StoneTurn’s clients across a range of industries with data-driven insights.

“Companies face unprecedented challenges when it comes to litigating complex matters today. Increasingly common allegations of fraud, market manipulation, or other reputation-damaging misconduct have raised already high stakes for class, derivative, shareholder and business disputes or individual legal actions,” said Christopher Martinez, Co-Founder and Managing Partner of StoneTurn. “As organizations and their legal teams work to recover from the COVID-19 pandemic, Dr. Saha’s vast experience and data-driven approach will be incredibly valuable. We are extremely pleased to have him onboard and know that he will be a tremendous asset to the StoneTurn team.”

Prior to joining StoneTurn, Dr. Saha served as Managing Director at Econ One Research, where he served as head of the firm’s finance and securities practice. Earlier in his career, he co-founded Data Science Partners, and held senior positions at other consulting firms. In addition, Dr. Saha was a tenure-track professor at Texas A&M University, where he taught Ph.D.-level courses in econometrics and applied economics. He has been published in numerous academic journals and is also the recipient of the prestigious Graham and Dodd Award for financial research.

In addition to Dr. Saha, Yong Xu, Ph.D., CFA, joins StoneTurn as a Managing Director in the firm’s Litigation Advisory practice. Dr. Xu, who brings more than 20 years of experience in litigation consulting and the financial services industry, will work closely with Dr. Saha in assisting clients with litigation matters involving securities fraud, antitrust, patent infringement, trademark and trade dress infringement, and class actions.