Donald M. May PhD

Managing Partner, DMA Economics LLC

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  • Don May is Managing Partner at DMA Economics LLC and 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, Dr. May was Managing Director at Berkley 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 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.


PhD (Financial Economics) University of Chicago, 1993
MBA (Finance) University of Chicago, 1987
BSBA (Accounting) Roosevelt University, 1985
CPA (Certified Public Accountant)  State of Illinois, 1985

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

    • Leveraged buyout (“LBO”) financing practices
    • Theft of trade secrets, trade dress and other intellectual property
    • Consumer product mislabeling
    • Accounting misstatements related to public and private company acquisitions
    • Lost profits and 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 valuations of over 200 closely held businesses across numerous industries for financial reporting and estate planning.