Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that an approximate 40-person litigation consulting team, which includes renowned economist Kevin M. Murphy, has joined the firm, effective February 1, 2013. Under an agreement to hire the team, CRA is accelerating the previously announced start dates of Kevin Murphy, Mark Zmijewski, Robert Topel, and Nicholas Weir from May 2013.
“We are thrilled to welcome this group of renowned academics and consultants to CRA,” said CRA's President and Chief Executive Officer Paul Maleh. “They provide additional breadth, depth, and scale to many of CRA’s litigation consulting capabilities, including antitrust & competition economics, financial accounting & valuation, financial markets, and labor & employment. The group’s commitment to providing the highest quality consulting services and enriching career opportunities mirrors CRA’s philosophy. We are excited for our new colleagues to join the CRA team, and look forward to collaborating with them in advising clients.”
Under terms of an agreement with Navigant Economics, LLC, a subsidiary of Navigant Consulting, CRA anticipates continuing ongoing client engagements serviced by Murphy, Zmijewski, Topel, and Weir, and intends to retain the services of approximately 40 consultants who work with them in advising on such matters. Staff will be primarily based in CRA’s Chicago office. Financial terms of the agreement were not disclosed. The transaction is anticipated to be accretive in fiscal year 2013.
About Charles River Associates (CRA)Charles River Associates® is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com. Statements in this press release concerning the agreement with Navigant Economics, LLC, a subsidiary of Navigant Consulting, Kevin M. Murphy, Mark E. Zmijewski, Robert H. Topel, and Nicholas J. Weir, any future business these parties may generate for the Company or the Antitrust and Competition Economics, Financial Accounting & Valuation, Financial Markets, and Labor & Employment Practices, the future business, operating results, and financial condition of the Company and statements using the terms "anticipates," "believes," "expects," "should," "prospects," "target," or similar expressions are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by the Company include, among others, changes in the Company's effective tax rate, share dilution from the Company's stock-based compensation, dependence on key personnel, attracting, recruiting and retaining qualified consultants, dependence on outside experts, utilization rates, completing acquisitions and factors related to its completed acquisitions, including integration of personnel, clients and offices, and unanticipated expenses and liabilities, the risk of impairment write downs to the Company's intangible assets, including goodwill, if the Company's enterprise value declines below certain levels, risks associated with acquisitions it may make in the future, risks inherent in international operations, the performance of NeuCo, changes in accounting standards, rules and regulations, changes in the law that affect the Company's practice areas, management of new offices, the potential loss of clients, the ability of customers to terminate the Company's engagements on short notice, dependence on the growth of the Company's management consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, general economic conditions, intense competition, risks inherent in litigation, and professional liability. Further information on these and other potential factors that could affect the Company's financial results is included in the Company's periodic filings with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of its forward-looking statements after the date of this press release.
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