Torben Voetmann
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president & principal
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San Francisco
Dr. Voetmann is the President of The Brattle Group, and has been a Principal in the San Francisco office for more than a decade. His consulting work focuses on securities and valuation disputes that involve complex economic and financial issues.
He has testified and consulted on issues related to financial econometrics, corporate finance, event studies, stock market behavior, market microstructure, capital markets, and the assessment of losses and damages. His consulting and testifying experience includes market efficiency and materiality matters in securities fraud and misrepresentation and omission cases.
Dr. Voetmann’s securities experience includes Rule 10b-5 and Section 11/12 class actions, including those involving options and other derivative securities. In these cases, he has addressed market efficiency, loss causation, and estimation of aggregate damages. His experience additionally includes calculating damages related to improper revenue recognition, bankruptcy, earnings restatements, material omissions, employee stock options, insider trading, private equity and venture capital, and disputed merger terms.
Dr. Voetmann has also been an expert witness on valuation issues related to mergers and acquisitions and appraisal actions, and other disputes involving the valuation of private and public companies. His valuation experience includes issues related to illiquid securities, employee stock options, and minority interests. He has assessed fair market valuation of various businesses under different assumptions, including the development and modeling of pro forma financial statements (profit and loss statements, balance sheets, and cash flow statements), costs, and profits over multiple years. In addition, Dr. Voetmann consults on disputes involving private equity and venture capital investments, valuation of illiquid securities, and options. He frequently addresses transaction, investigation, and valuation disputes involving large and complex datasets.
Dr. Voetmann has also authored many peer-reviewed articles in prestigious finance journals – including the Journal of Corporate Finance, Journal of Financial and Quantitative Analysis, Financial Management, Review of Finance, Quarterly Journal of Finance, and The European Journal of Finance – and has authored a chapter on event studies in Financial Modeling.
Prior to joining Brattle, Dr. Voetmann worked for more than 10 years in litigation consulting at a global economics consultancy. He has taught undergraduate and graduate-level courses in corporate finance, security analysis, and valuation at The Wharton School of the University of Pennsylvania.
Copenhagen Business School
PhD in Finance
Aarhus School of Business
MS in Finance and BBA
Personal Interests
Torben is an Adjunct Professor of Finance, The University of San Francisco, where he teaches an MBA finance course, “Capital Markets, and Investment Banking,” covering various law and finance topics including corporate governance, securities regulation, and equity and debt markets.
From 1998–2004 he was an Adjunct Professor of Finance at The Wharton School of the University of Pennsylvania, where he taught undergraduate and MBA finance courses, “Corporate Finance” and “Securities Analysis,” covering various finance topics including corporate finance, securities valuation, and financial modeling.
From 2000–2004, he was an Instructor at the New York Institute of Finance, where he taught market participants courses, “Financial Modeling,””Valuation,” and “Corporate Finance,” covering various finance topics including corporate finance, equity valuation, and financial engineering.
Outside of work, Torben enjoys orienteering, Bikram yoga, and running.
