Donald D. May PhD | Managing Director of SEDA Experts,LLC
Donald M. May, PhD
Affiliate Expert


  • Economic Damages Analysis

  • Valuations 

  • Securities Fraud

  • Business Valuations

  • Class Action and Certification

As a former MIT finance professor with extensive testifying experience, Dr. May is a world-class expert in the valuation of damages. Dr. May possesses over 30 years’ experience in consulting, valuation, and litigation support as well as researching, publishing, and teaching at the university level, and he has invaluable experience in testifying in arbitrations as well as state and federal

Don May possesses over 30 years’ experience in consulting, valuation and litigation support as well as researching, publishing and teaching at the university level.  His experience includes implementing a broad range of damage analyses and valuations for businesses of various sizes and in numerous industries.  Prior to founding DMA Economics LLC, Dr. May was Managing Director at Berkeley Research Group and the Principal in charge of valuation and litigation support services for a regional accounting firm, a Managing Director for PricewaterhouseCoopers and a professor at the Massachusetts Institute of Technology - Sloan School of Management.


Dr. May has prepared expert reports and testified in federal and state courts as well as AAA, JAMS, and FINRA arbitration hearings and has also effectively communicated as an expert witness testifier and consultant in several multi-million dollar cases.


Dr. May has been published in several distinguished academic and practitioner journals such as The Journal of Finance, The Quarterly Review of Economics and Finance, Hedge Fund Law Review, and is currently an editorial board member of The Journal of Business Valuation and Economic Loss Analysis.


Some examples of recent matters Dr. May has been asked to evaluate, analyze and/or opine on include the valuation of damages related to:

  • Misrepresentations in leveraged buyout (“LBO”) financing practices

  • Theft of trade secrets, trade dress and intellectual property

  • Food product mislabeling

  • Accounting misstatements in public and private company acquisitions

  • Lost profits and lost enterprise value associated with product defects and breach of contract

  • Securities fraud under SEC Section 10b-5 and Section 11


Dr. May has also performed over 200 valuations of closely held businesses across numerous industries for financial reporting and estate planning



University of Chicago

PhD (Financial Economics) 

MBA (Finance)  

Roosevelt University

BSBA (Accounting)  


State of Illinois

CPA (Certified Public Accountant)



DMA Economics

Managing Partner


Berkeley Research Group

Managing Director


Grassi & Company

Principal and Practice Leader in Charge of Forensic, Litigation Support and Valuation Services


Marks Paneth & Shron




Managing Partner



Analysis Group

Vice President

NERA Economic Consulting

Senior Consultant



Managing Director

1998 - 2003


Massachusetts Institute of Technology

Assistant Professor

1993 - 1998