What Cornerstone Research does

Cornerstone Research is a private economic and financial consulting firm headquartered in San Francisco, California, that provides expert testimony and economic and financial analysis in all phases of commercial litigation and regulatory proceedings. Founded in 1989, the firm has operated for over 35 years serving law firms, corporations, and government regulatory agencies — including repeated engagements with the Federal Trade Commission and Securities and Exchange Commission. Its work spans antitrust and competition, securities litigation, intellectual property disputes, merger investigations, healthcare economics, market manipulation, international arbitration, and complex commercial disputes.

The firm's core offerings are expert witness and consulting services delivered by senior academic experts from institutions such as the University of Chicago Booth School of Business, Columbia, Wharton, USC, UC Berkeley, and the University of Michigan, supported by in-house professionals. Two internal capability centers underpin analytical delivery: the Applied Research Center (ARC), which integrates advanced research methods into client work, and the Data Science Center, which applies artificial intelligence and machine learning tools alongside deep economics and finance expertise. Cornerstone also publishes the long-standing Securities Class Action Filings report series in partnership with Stanford Law School, which serves both as a thought-leadership asset and a longitudinal proprietary dataset.

Revenue is generated through engagement-based professional services billing, with pricing not publicly disclosed. The firm employs between 1,001 and 5,000 people across nine offices — San Francisco (headquarters), Boston, Chicago, Los Angeles, New York, Silicon Valley/Menlo Park, and Washington, D.C. in the United States; London (regional headquarters for Europe) in the United Kingdom; and Brussels in Belgium. Under CEO Dr. Rahul Guha, who took leadership in 2020, headcount has grown by over 50%, the London and Brussels offices have been established, and the firm has received sustained third-party recognition including Vault's #2 Best Economic Consulting Firm ranking (2026), ten consecutive years on Forbes' America's Best Management Consulting Firms, and Chambers Litigation Support Guide 'Gold Standard' status. The company is independently owned, with no disclosed parent, private equity, or venture capital backing, and is operated through three legal entities (Cornerstone Research, Inc. in the US, Cornerstone Research UK Ltd., and Cornerstone Research Belgium SRL).

Name

Cornerstone Research

Legal name

Cornerstone Research, Inc.

Website

https://cornerstone.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cornerstone Research is a private economic and financial consulting firm providing expert testimony and analysis in complex commercial litigation and regulatory proceedings. Founded in 1989, it serves law firms, corporations, and government agencies through nine offices in the US, UK, and Belgium.

Ownership category

akta.pro rank

Product category

Economic and Financial Consulting

NAICS

Other Scientific and Technical Consulting Services (54169)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Industry & Sector Research (Syndicated/Custom) (BPAHALAE)

Keywords

• Economic consulting
• Expert testimony
• Securities litigation
• Antitrust consulting
• Financial analysis

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Economic and Financial Consulting: Professional consulting services providing economic and financial analysis in all phases of commercial litigation and regulatory proceedings, including expert testimony
2. Expert Testimony Services: Supporting academic experts with economic analysis for litigation and regulatory proceedings

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Cornerstone Research provides economic and financial consulting and expert testimony in all phases of commercial litigation and regulatory proceedings, serving law firms, corporations, and government agencies including the FTC and SEC. The firm pairs its network of academic experts with internal AI/ML capabilities (Data Science Center) and advanced research methods (Applied Research Center) to deliver analysis across practice areas such as antitrust, securities litigation, intellectual property, healthcare economics, and market manipulation.

Product overview

Cornerstone Research is an economic and financial consulting firm providing expert testimony and analysis in commercial litigation and regulatory proceedings. The firm's core offering consists of consulting services across diverse practice areas including antitrust and competition, securities litigation, intellectual property, healthcare economics, and market manipulation analysis. The company operates through two key analytical centers: the Applied Research Center (ARC) for advanced research integration, and the Data Science Center for AI and machine learning capabilities. The Data Science Center develops tools for data-driven analysis while the Applied Research Center focuses on integrating advanced methods to enhance client service delivery. The Securities Class Action Filings Report, produced in partnership with Stanford Law School, represents their primary published research product tracking industry trends.

Differentiator

Problem solved

Functional benefit

Products and services

• Economic and Financial Consulting Services Comprehensive economic and financial consulting and expert testimony across all phases of commercial litigation and regulatory proceedings, serving law firms, corporations, and government agencies in multiple practice areas including antitrust, securities litigation, intellectual property, and healthcare.
• Expert Testimony Services Expert witness and testimony services provided by academic experts and professionals with deposition and trial experience across securities litigation, antitrust, intellectual property, healthcare economics, and financial markets.
• Antitrust and Competition Services Consulting on merger investigations, cartel behavior, collusion, vertical restraints, monopolization, and class certification in competition matters across industries including healthcare, technology, and financial services.
• Securities Litigation Services Economic analysis and expert testimony in securities class actions, SEC enforcement matters, shareholder disputes, and corporate governance litigation.
• Intellectual Property Services Expert analysis in patent litigation, copyright infringement, trademark disputes, FRAND royalty rate determinations, and IP damages estimation.
• Healthcare and Life Sciences Services Economic consulting in pharmaceutical markets, healthcare policy, 340B drug pricing, hospital market concentration, and healthcare antitrust matters including no-poach agreements.
• Market Manipulation and Microstructure Services Analysis of benchmark manipulation, spoofing, layering, corners, squeezes, wash trading, and other disruptive trading behaviors in financial and commodities markets.
• Securities Class Action Filings Report Annual report series produced in partnership with Stanford Law School tracking securities class action filings, settlement activity, and market trends; the 2025 report noted a median settlement of $17.3 million and the series has tracked trends for nearly three decades.
• Merger Investigations Services Economic analysis for merger review and investigations, including expert testimony and consulting for regulators and merging parties before agencies such as the FTC and SEC.

Quantifiable outcome

• Class certification denied in Enovix securities fraud case - complete dismissal for client
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Dynamic Competition Initiative (DCI)coreStrategic or Co-development Partner · 29 April 2026Cornerstone Research and Dynamic Competition Initiative (DCI) are co-hosting a half-day expert forum in Brussels on evolving EU competition policy, focusing on merger control, innovation dynamics, and intellectual property frameworks in digital markets. Supported by Haas School of Business and European University Institute's Department of Law.
• Stanford Law SchoolcoreStrategic or Co-development PartnerLong-standing partnership for the Securities Class Action Filings report series, tracking securities litigation trends and settlement data for nearly three decades. Also involved in AI legal insights panel discussions.
• University College London Institute of Brand and Innovation LawminorStrategic or Co-development PartnerHosts the Patents and Standards 2026 conference in London, bringing together industry experts, regulators, and judicial officials to discuss FRAND disputes, licensing streaming standards, and regulatory developments.
• Securities DocketminorGTM or Marketing PartnerCornerstone Research is a sponsor of the Securities Enforcement Forum West 2026 conference, hosted by Securities Docket, bringing together senior SEC officials, securities enforcement attorneys, and compliance executives.
• American Law Institute Continuing Legal Education (ALI-CLE)minorGTM or Marketing PartnerCornerstone Research is sponsoring the ALI-CLE Accountants' Liability Annual Conference 2026 in Washington, DC, examining emerging trends and enforcement activity in professional standards and liability risks.
• Informa ConnectminorGTM or Marketing PartnerCornerstone Research is a sponsor of Antitrust West Coast 2026 conference hosted by Informa Connect, covering topics including monopolization, pharmacy benefit manager scrutiny, and healthcare merger antitrust concerns.
• Corporate Directors ForumminorGTM or Marketing PartnerKirti Gupta, Vice President and Chief Economist at Cornerstone Research, will join a panel discussing how corporate strategy can adapt to evolving trade policies and geoeconomic relationships, including tariff effects on supply chains.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Analysis Group: Largest economic and financial consulting firm in North America, providing expert testimony, economic analysis, and litigation support across health care, securities, antitrust, and IP matters — a direct competitor to Cornerstone Research in the same specialist niche.
• NERA Economic Consulting: Global economic consulting firm specializing in antitrust, securities, energy, and regulatory matters, with a similar expert-witness and litigation support model. Directly comparable to Cornerstone Research in practice areas and client base.
• Compass Lexecon: Leading economic consulting firm providing expert testimony and analysis in competition, securities, finance, and energy matters. Direct competitor with strong international presence, particularly in EU and UK matters.
• The Brattle Group: Specialist economic and financial consulting firm with strong academic credentials, providing expert testimony in antitrust, energy, finance, and litigation matters. Closely comparable in business model and talent base to Cornerstone Research.
• Berkeley Research Group: Consulting firm providing economic, financial, and regulatory expertise in litigation, antitrust, and investigations. Comparable to Cornerstone Research in its expert witness and disputes-focused practice.
• Charles River Associates: Publicly traded global consulting firm (CRA) providing economic and financial analysis in litigation, regulation, and competition matters. Direct peer with similar service offerings and academic expert network.
• Edgeworth Economics: Economic and statistical consulting firm providing expert analysis in antitrust, labor, class certification, and intellectual property matters. Smaller direct peer in the same litigation-support niche.
• Economists Incorporated: Economic consulting firm providing expert testimony and economic analysis in antitrust, regulation, and litigation. Direct peer in scope and client base, though smaller in scale than Cornerstone Research.

Broad incumbents

• AlixPartners: Global consulting firm offering economic expert services within a broader portfolio of performance improvement, disputes, and restructuring work. Overlaps with Cornerstone in litigation support but with a wider service mix.
• FTI Consulting: Large publicly traded consulting firm with significant economic consulting, forensic, and litigation support capabilities. Competes with Cornerstone in expert testimony but operates at much greater scale and breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cornerstoneresearchinc
• LinkedInlinkedin.com/company/cornerstone-research

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cornerstone Research