Dr. Aharonian delivers rigorous, resourceful, and principled consulting services and expert testimony on matters related to securities, financial markets, valuation, corporate finance, tax, and international arbitration.

During his tenure at Brattle, Dr. Aharonian has provided expert testimony on damages, valuation, irreparable harm, and market efficiency in various forums. He has also led teams providing economic analysis and settlement support in high-profile domestic and international disputes. These engagements have included general securities litigations, securities class actions, Delaware minority share appraisals, asset valuations (traditional businesses and tech/start-up ventures), derivatives valuations, risk management, debt capacity analyses, cost of capital estimations, tax disputes, regulatory cost models, and international asset appropriations.

In Canada, Dr. Aharonian has provided expert testimony on aggregate class damages and market efficiency, and has consulted on tax disputes for both taxpayers and government agencies. He has also supported testimony before provincial and federal regulators, including coauthoring a report for the Canadian Transportation Agency on cost of capital methodology.

Outside of his consulting work, Dr. Aharonian is regularly invited to speak on the evolving US securities litigation landscape. He also serves as an adjunct in the MBA program at Babson College, where he has taught courses on fixed income securities and financial derivatives.


The University of British Columbia
PhD in Economics

McGill University
MA in Economics

The University of Western Ontario
BA in Economics


October 1, 2018

Judy Mesirov, derivatively v. Enbridge Energy Company Inc., et al. (Delaware Chancery Court, C.A. No.11314-VCS). Expert Report of Matthew O’Loughlin and Matthew Aharonian. Submitted expert report on behalf of Plaintiffs concerning the value of pipeline assets received in a transaction, along with the value of the consideration that was paid in exchange (equity units with imbedded options/features). (October 1, 2018)

November 23, 2017

GrowthQuest Capital Inc. v. Volkswagen Aktiengesellschaft (Ontario Superior Court of Justice, Court
File No.: CV-16-566618-00CP) & Chandler v. Volkswagen Aktiengesellschaft (Quebec Superior Court,
S.C. No.: 500-06-000838-173).
Submitted expert report on behalf of Plaintiffs concerning tests of market efficiency and damages methodology in the context of securities class actions. (November 23, 2017)

May 22, 2015

William Zarakas, Matthew Aharonian

Telecom Association, Petitioner, v. Federal Communications Commission and the United States of
America, Respondents, Case No. 15-1063 (and consolidated cases). United States Court for the District of Columbia Circuit. Declaration of William P. Zarakas and Matthew Aharonian,
evaluating allegations of irreparable harm from the FCC’s decision to regulate broadband services under common carrier designation. (May 22, 2015)

January 24, 2014

Askenazy et al. v. Tremont. Group Holdings et al., No. 10-04801-BLS2 (Massachusetts Superior Court). Expert Report of Matthew Aharonian and Lynda Borucki. Submitted expert report on damages to investors from losses caused by imprudent management of fund portfolios connected to the Madoff fraud. (January 24, 2014)