Shane Oka

Shane Oka coheads Cornerstone Research’s intellectual property (IP) practice. Mr. Oka consults and provides expert testimony on economic issues arising in commercial litigation, with particular expertise in class certification and damages. He has extensive experience with damages related to intellectual property, generative artificial intelligence (GenAI), consumer finance, alleged breach of contract, and securities class actions.

In IP matters, Mr. Oka has deep expertise in quantifying patent damages, including lost profits and reasonable royalties, and in damages apportionment. He consults on fair, reasonable, and non-discriminatory (FRAND) and non-FRAND royalty damages in various industries, including consumer products, pharmaceuticals, technology, and telecommunications.

In addition, Mr. Oka has extensive experience in trade secrets damages and has supported experts in trademark, copyright, and breach of contract damages matters.

Mr. Oka consults on the economic dimensions of copyright disputes GenAI) with a focus on Factor 4 fair use analysis. He has developed methodologies to assess substitution and market harm in the GenAI context. Mr. Oka has also evaluated consumers switch between products, how licensing affects market displacement, and the economic value of rights holders’ current and potential markets, as defined by observed consumer behavior. Mr. Oka’s experience also includes matters involving the use of copyrighted text, images, and code to train large language models (LLMs) and other generative systems.

Mr. Oka consults on consumer class and regulatory actions involving consumer financial products. His work focuses on claims of consumer fraud, misrepresentation, and unfair treatment in mortgages, deposit accounts, credit cards, merchant banking, ATMs, and insurance. In regulatory actions, Mr. Oka consults on allegations related to fair lending, regulatory reporting, and compliance, including issues involving the Bank Secrecy Act (BSA), the Office of Foreign Assets Control (OFAC), and anti-money laundering (AML) laws. Mr. Oka specializes in the economic aspects of such actions, with an emphasis on class certification and damages. He analyzes lending decisions, underwriting, pricing and rates, fees, modifications, and foreclosures, often working with large proprietary datasets.

As an expert witness, Mr. Oka has provided testimony on breach of contract issues. He has conducted complex damages modeling and financial forecasting in various industries, including commercial real estate, consumer technology, energy, medical devices, and pharmaceuticals. Mr. Oka also consults with counsel and supports experts on the economic implications of breaching various forms of commercial relationships (such as buyer/seller, commercial partnerships, and employer/employee), especially where the alleged breach gives rise to unanticipated commercial competition.

Mr. Oka consults on economic issues related to securities litigation. He has substantial experience in addressing allegations of Rule 10b-5 violations. He has analyzed market efficiency, Comcast, and price impact issues in the class certification context, and evaluated loss causation and damages at the merits stage. Mr. Oka also consults on Section 11 negative causation defenses. He has particular expertise in estimating clients’ damages exposure in connection with securities claims and has supported clients to determine settlement strategies.

Mr. Oka is involved with Cornerstone Research’s pro bono initiatives. He supported an expert and conducted analyses in New Village Charter School Inc. v. State of California et al., a matter focused on supplemental state funding for a Los Angeles-area charter high school serving at-risk girls and young women.