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Experts & Advisors

John D. Montgomery

Senior Managing Director

Photograph of John D. Montgomery

485 Lexington Avenue, 10th Floor
New York, NY 10017

+1.646.227.4277 Direct
+1.914.584.8129 Mobile

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Dr. John D. Montgomery is Senior Managing Director at Ankura, based in New York. He is an expert in financial economics, valuation, financial regulation, and international finance. He has testified at trial in federal and state court and in arbitration, provided expert reports, affidavits, and depositions, conducted complex economic, financial, and statistical analysis, and managed numerous litigation projects. John’s extensive experience includes securities class actions, insider trading cases, ERISA class actions, M&A and other corporate finance disputes, and stock exchange microstructure and trading investigations. He has worked as an economist for the Federal Reserve Board, President’s Council of Economic Advisers, International Monetary Fund, and Morgan Stanley, and as a securities analyst.


John’s projects have included:

  • Expert testimony on alleged damages from early redemption of corporate bond.
  • Expert testimony in M&A litigation, on corporate valuation and merger terms.
  • Consultant for US stock exchanges in several SEC investigations: Analyzed dynamics of hidden and displayed orders and trading; prepared statistical analysis of stock-exchange proprietary and public (SIP) data feeds and related microstructure issues.
  • Analysis of cash flows and calculations of the potential impact of proposed changes in the treatment of loan modifications in RMBS trusts.
  • Expert testimony at trial for a defendant charged with criminal insider trading, on trading dynamics, securities price movements, and evidence on materiality
  • Expert testimony in class certification for a securities class action, on the efficiency of markets for company’s common stock and notes.
  • Expert testimony in a shareholder class action, on price impact, loss causation, and alleged damages. .
  • Event studies and analyses in numerous securities class actions under Rule 10(b)-5 and Section 11, on loss causation, disclosures, alleged inflation, and alleged damages
  • Expert testimony at trial on liability and damage issues in ERISA class action related to the liquidation of non-employer stock by a 401(k) plan following a corporate spin-off.
  • Expert testimony in ERISA class action on investment fund selection in a 401(k) plan.
  • Consulting in numerous ERISA class actions related to employer stock on the estimation of alleged damages and on various liability and causation issues.
  • Consulting in ERISA class action on allegedly excessive 401(k) plan fees.
  • Expert testimony for an individual defendant charged with securities fraud by the SEC, on the materiality of alleged revenue misstatements and on the estimation of losses avoided by the sale of stock before alleged corrective disclosures.
  • Valuation, financial research, and modeling in litigation over fairness of financial arrangements related to corporate minority interest.
  • Consulting for bank defendants on damages issues in lawsuit by Adelphia Recovery Trust alleging harm from “co-borrowing” facilities.
  • Analysis of large customer order datasets on behalf of bank defendant in a regulatory investigation of retail equity order handling.
  • Expert testimony at trial (Delaware Chancery Court) on alleged damages from failure to deliver common stock in corporate tender offer.
  • Consulting on investment fund management, valuation, and disclosure, including valuation of equity portfolios and basket options, and the analysis of portfolio diversification, hedging, and margin borrowing.
  • Valuation of employee stock options and restricted stock grants in disputes regarding termination of members of senior management by a large corporation.
  • Consultant for major brokerage firm in regulatory investigations of fee-based brokerage accounts, including statistical analyses of large databases of account activity and other information.
  • Expert testimony in securities class action related to investments funds holding leveraged loans.
  • Consultant to U.S. Attorney (S.D.N.Y.) in the prosecution of criminal securities fraud case.
  • Affidavits in the High Court of Ireland on the Eurozone crisis and the recapitalization of Irish Life & Permanent PLC.
  • Consulting expert on claims of bank creditors against European sovereign, relating to losses from resolution of a banking crisis.
  • Consultant to U.S. Department of Justice in defense against taking claims related to recapitalization of AIG.
  • Expert testimony in merger-related dispute on timing and likelihood of U.S. recession.


  • PhD, Economics, Princeton University
  • MSc, Economics, London School of Economics
  • BA, cum laude, Economics (with distinction), Yale University
  • American Economic Association
  • American Finance Association

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