Justin Lenzo

Justin Lenzo
Managing Director

Economics Consulting Services, Disputes & Economics

Dr. Justin Lenzo is a Managing Director at Ankura, located in Chicago. He provides litigation support, strategic analysis, and research for law firms, healthcare organizations, and other businesses. Justin specializes in industrial organization, game theory, and econometric models. He has written articles on complex healthcare technology issues, such as competition in diagnoses and treatments and hospital technology investment. Before entering economic consulting, he served as an Assistant Professor of Management and Strategy at the Kellogg School of Management at Northwestern University.

  • Experience

    Justin’s professional experience includes:

    • Provided expert opinions to a court on market definition, market power, anticompetitive conduct, and damages for an antitrust case involving manufacturers of locker locks. The case involved monopolization, allegedly fraudulent patents, and exclusive dealing claims. Expert opinions included an estimation of lost profits.
    • Provided expert opinions to a court on the likelihood of re-identification of data requested under a Freedom of Information Act (FOIA) request to ensure compliance with the Health Insurance Portability and Accountability Act (HIPAA).
    • Provided statistical analysis and opinions as part of an independent review of a pharmaceutical firm’s suspicious order monitoring (SOM) program targeted at detecting and reducing opioid diversion.
    • Provided economic and econometric analyses related to a global, high-profile merger in the alcoholic beverages industry. Supervised team of economists and estimated the matrix of cross-brand elasticities of demand for an array of products using sophisticated econometric techniques.
    • Managed complex data sets and assisted the client with processing and validating its data for submission to the antitrust authority. Coordinated with global teams of consultants and law firms.
    • Estimated the price elasticity of demand for an electric utility’s services among various customer classes. Used regional macroeconomic modeling tools to estimate the overall regional economic effects of changes in electricity rates.
    • Provided mathematical modelling and economic analysis to an energy firm seeking to understand the potential effects of proposed regulatory reform. Applied real options theory and dynamic optimization methods to estimate the benefits of the proposed reforms.
    • Analyzed transaction data from a multinational retailer in a high-profile tax dispute. Developed complex SQL models and efficient computational algorithms to construct key statistics regarding customer attrition and spending levels. The project required working within the client’s distributed database system to process the massive quantity of transaction data.
    • Developed flexible quantitative models to calculate statistics related to employee compensation and research and development activity in a transfer pricing dispute.
    • Provided unilateral effects analyses for multiple proposed acquisitions in the brewing industry.
    • Supervised team of economists and analyzed industry and client data to construct measures of pricing pressure to evaluate whether the acquisitions would be likely to raise antitrust scrutiny.
    • Provided econometric and auction-theoretic analyses in a high-profile price-fixing case involving computer components. Used panel data techniques to estimate relationships between price, input costs, and demand shifters.
    • Conducted data analyses to evaluate the predominance of class or individual questions for several class certification proceedings involving alleged violations of the Telephone Consumer Protection Act (TCPA).
    • Designed and implemented a sampling strategy for audio recordings in a class de-certification proceeding involving wiretapping allegations.
    • Produced comprehensive market and policy analyses in the context of a shareholder class-action suit regarding an acquisition in the broadband equipment industry. The engagement required a detailed historical analysis of federal stimulus policy and an economic analysis of competitive advantage of industry participants.
    • Provided economic analysis on avoided costs for a wireless telecommunications operator involved in a class-action lawsuit. Applied economic theory, econometric techniques, and industry knowledge to identify cost shifters and distinguish avoidable costs from sunk costs.
    • Advised a consumer products company on the design and implementation of a consumer survey to measure consumer preferences for convenience relative to price. Provided statistical analysis of the resulting survey data.
    • Provided economic analysis on unjust enrichment and reasonable royalties in the context of a lawsuit regarding trade-secret misappropriation in the mobile devices industry.
    • Employed time-series regression techniques to analyze damages for construction materials firms facing an antitrust and disparagement lawsuit.
    • Produced and supervised production of a series of quantitative analyses for a retailer of alcoholic beverages. Implemented price index methods for cross-regional, multi-brand price comparisons. Supervised statistical analysis for quantifying tax passthrough.
    • Conducted economic modeling of vertical relationships between production and distribution.

  • News & events
    • ABA Infrastructure and Regulated Industries Section 2018 Spring Council Meeting, 03/09/2018, “Regulation, Innovation, and Market Transformation: An Economic and Historical Perspective,” Westlake Village, CA
  • Insights & innovation
    • “O’Bannon v. NCAA: No Slam Dunks,” American Bar Association Section of Litigation, Expert Witnesses, Practice Points, 08/29/2014
    • “Hospital-Level Variation in Use of Cardiovascular Testing for Adults With Incident Heart Failure,” JACC: Cardiovascular Imaging, Vol.7, No.7, 2014, with Steve Farmer, David J. Magid, Jerry H. Gurwitz, Jerry H. Gurwitz, David Smith, Grace Hsu, Sue Hee Sung, and Alan S. Go.