Michael Keeley: Practice Details

Michael Keeley Cornerstone Research Economic and Financial

Michael Keeley: Practice Details

Energy and Commodities Cornerstone Research combines energy and commodities experience with expertise in antitrust, valuation, securities, class certification, and intellectual property litigation. We apply financial and economic analysis to issues that arise in the changing energy and commodities markets, including those related to allegations of market manipulation and price fixing, breach of contract, merger reviews, trading disputes, asset valuation, and environmental impact.

Market Manipulation

Cornerstone Research has been involved in many high-profile energy and commodity market manipulation investigations. The combined experience of our staff and experts in energy markets, antitrust, and finance brings a multidisciplinary approach to the evaluation of market manipulation allegations.

Characteristics of U.S. Natural Gas Transactions

Cornerstone Research has analyzed the Federal Energy Regulatory Commission’s (FERC’s) data on U.S. natural gas transaction activity as supplemented by our proprietary classifications of market participants.

Agricultural Commodities

We have worked on litigation involving a wide range of agricultural commodities, including dairy, grains, tobacco, high-fructose corn syrup, and meatpacking. In these matters, we have analyzed antitrust issues, market manipulation, breach of contract claims, and mergers.

Environmental Impact

Analysis of economic issues and expert testimony on punitive damages form the basis of our work on environmental impact cases. These include litigation involving groundwater contamination, seafood poaching, and product liability.


Our consultants have analyzed the effects of mergers, price-fixing allegations, and other potentially anticompetitive behavior in the energy industry. Such analysis typically requires applying the sophisticated techniques common in antitrust cases.


Cornerstone Research has worked on liability and damages issues in high-profile accounting cases in the energy industry. We address cases with a combination of economic analysis, understanding of industry dynamics, and knowledge of accounting principles.

Finance and Valuation

Building on extensive experience in financial valuation, Cornerstone Research utilizes the financial asset attributes of commodities to develop valuation techniques for energy commodities, assets, liabilities, and risks, and to determine the implications of energy market dynamics for the valuation of firms participating in the industry.

Contract Disputes

We have applied industry expertise to numerous contract disputes involving energy and commodities. The issues involved in these matters include contract pricing provisions, regulatory impact, insurance coverage, and valuation of derivative contracts.