©  SAR, LLC. 2020

Bethesda, MD


SAR is a mission-driven company dedicated to enhancing transparency in the securities class action arena with unrivaled independence, adherence to the highest standards in quality, and a firm commitment to integrity.

Nessim Mezrahi

Co-Founder and CEO


Nessim is co-Founder and CEO of SAR.  He leads a team of focused and experienced professionals committed to providing analysis of the highest standards in quality with a keen attention to detail. Nessim works actively under the oversight of a hands-on Board of Directors that oversee the operations of a quality and compliance-driven company. Nessim is focused on providing industry-leading insurance companies that provide Directors and Officers (D&O) executive liability insurance attain data-driven advantages in the securities class action arena.


Since 2007, Mr. Mezrahi has estimated economic damages in securities class actions that allege violations of the federal securities laws under on Section 11, Section 12(a)(2), and Section 15 of the Securities Act of 1933, and under Section 10(b) and 20(a) of the Securities Exchange Act of 1934. For over a decade, Nessim worked directly with top-ranked securities class action litigators on analyses of market efficiency and aggregate damages on several landmark securities class actions that stemmed from the financial crisis of 2008. Notable MBS class action matters Mr. Mezrahi worked on were HEMT MBS Securities Litigation, Washington Mutual MBS Securities Litigation, RALI MBS Securities Litigation, Harborview MBS Securities Litigation, Countrywide MBS Securities Litigation and the Dynex ABS Securities Litigation. Notable equity securities class actions include: China MediaExpress Securities Litigation, Harman International Industries, Inc. Securities Litigation, ITT Educational Services, Inc. Securities Litigation, Braskem S.A. ADS Securities Litigation, Opus Bank Securities Litigation, Impax Laboratories, Inc. Securities Litigation, Neustar, Inc. Securities Litigation.  Mr. Mezrahi devised and submitted court-approved Plans of Allocation for securities class action settlements in key circuits of U.S. Federal Court System.


Previously, Mr. Mezrahi was an internal auditor for GE’s Corporate Audit Staff (CAS) where he engaged in the design and tested the effectiveness of internal controls over financial reporting according to Sections 302, 401, and 404 of the Sarbanes-Oxley Act of 2002. Mr. Mezrahi completed the GE Financial Management Program (FMP) at GE Capital in Stamford, CT. Nessim graduated from Babson College (Honors Program Graduate with Highest Academic Distinction) and lives in Bethesda, MD with his wife and two children. Mr. Mezrahi is from Bogotá, Colombia and a graduate of Choate Rosemary Hall. He is a dedicated athlete and fluent in Spanish. Nessim is an active member of the Professional Liability Underwriting Society (PLUS).

Carolina M. Doherty

VP of Business Development


Carolina leads the business development and marketing efforts for SAR and manages the new client on-boarding and compliance process for the SCA Claims Platform. Carolina also works with the Data Science team by reviewing all filed Exchange Act and Securities Act complaints. Ms. Doherty is experienced in securities litigation after having an eight year tenure at Nathan Associates where she worked in the Financial Litigation division. More recently, Ms. Doherty was a Senior Associate at a management consulting firm where she helped senior leaders from Fortune 500 companies assess and set their strategic growth initiatives. During that time, she also supported the digitization of the firms existing tools and frameworks into cloud-based systems. Carolina is an effective communicator and a highly-skilled researcher with a focused attention to detail.   

Ms. Doherty graduated from the University of Pennsylvania. She lives in Vienna, VA with her spouse and two children. Ms. Doherty is originally from Bogotá, Colombia and is fluent in both Spanish and Portuguese. 

Ariel Himmelstern



Ariel is a co-Founder of SAR and led the development efforts for the initial code base of the claims platform.  Ariel is an experienced entrepreneur and software engineer in financial services. Mr. Himmelstern led the software engineering team at Symphony in Palo Alto, CA when he joined the company at an early stage. Previously, Ariel developed software at PEAK6 Investments LP in Chicago, IL. Mr. Himmelstern developed and implemented multiple features for the company's options trading platforms that complied with stringent FINRA requirements. Ariel delivered multiple security features for the trading platforms, including two-factor authentication. Mr. Himmelstern also co-founded RoomSync, and is the managing director of its parent company, U-Match, LLC.  RoomSync is a Facebook application company that enables students to match-up with each other to determine optimum roommate matching possibilities. RoomSync is the leading roommate matching software platform used by leading universities across the U.S.


Ariel graduated from Georgia Institute of Technology with a degree in Computer Engineering and attained a degree in computer science from Emory University.  Ariel now lives in North Miami Beach, FL. He is fluent in Spanish.

Gadi Rozmaryn 

VP of Software Engineering


Mr. Rozmaryn manages the claims and underwriting tools' cloud-based technology and development efforts. Gadi directs and manages the company's AWS cloud relational database management infrastructure and oversees database access, security, and code base quality control.  Gadi spearheads feature development, implementation, and deployment according to our client's specific requirements. Gadi's primary focus is bridging the gap between highly-technical quantitative and statistical functions and agile cloud-based processes to attain reliable and sustainable data processing. He also oversees automated-testing implementation for on-going quality control.

Mr. Rozmaryn has over two decades of experience in systems administration, application development, and cloud architecture design. Gadi has worked in start-ups and publicly traded corporations in a variety of industries including real estate, e-commerce, education and communications. Most recently, Gadi was a principal infrastructure architect for Teaching Strategies, LLC based in Bethesda, MD. Teaching Strategies, LLC is an industry leading EdTech company that specializes in assessment tools used by thousands of teachers and education administrators in every state across the U.S. to ensure children are meeting developmental goals from birth through 3rd grade. Mr. Rozmaryn built the team, designed and oversaw all aspects of platform development including front and back-end design and implementation, and the hosting infrastructure. He served as the technical lead during the due diligence phase of two successful acquisitions. Previously, Gadi worked at Hughes Network Systems in Germantown, MD where he built the customer portal for the company.


Gadi is a native of Silver Spring, MD where he lives with his wife and three children and enjoys coaching his children's sports team.  

Stephen Sigrist

Data Scientist


Mr. Sigrist manages the on-going evaluation of the applied statistical and quantitative functions that support the claims and underwriting tools.  Stephen oversees the goodness of fit testing of the applied multivariate regression models. Mr. Sigrist manages all raw financial and economic data inputs for quality assurance purposes. Stephen manages and maintains the Company's statistical and quantitative standard operating procedures (SOPs) and applied protocols to ensure effective and sustainable cloud-based data processing and database management. Stephen manages Claim Associates and Quantitative Analysts that read, review, input and analyze all securities class action claim information.  


Mr. Sigrist is a highly skilled data analyst with more than a decade of experience in financial and economic research. For over five years Stephen supported testifying experts with the quantification of economic damages in complex securities and antitrust class action cases at Nathan Associates in Arlington, VA. Mr. Sigrist has significant expertise in event study analysis and has performed numerous analyses of market efficiency for stocks, bonds, in addition to damages analyses on call and put options. Previously, Mr. Sigrist was a Senior Research Associate at the Investment Company Institute (ICI) in Washington DC, where he researched, compiled and published metrics pertaining to the mutual fund industry's size and sector exposure. Stephen holds a Master's degree in financial economics from Ohio University. He is a SAS Certified Advanced Programmer, and has an advanced level of proficiency in econometric modeling using Stata and R. 


Stephen lives in Bethesda, MD and practices Brazilian Jiu Jitsu.


Brett Carmel

Co-Founder and Senior Managing Director

Seale & Associates

B.A. University of Florida

M.A. The George Washington University, International Affairs

M.B.A. The George Washington University, International Business

Brett co-founded Seale & Associates in 1999 and is a senior managing director with extensive cross-border international transaction experience. Brett has advised companies and investors on divestitures, mergers, acquisitions, joint ventures, recapitalizations, valuations, due diligence, strategic alternatives assessments, and various corporate finance matters. Prior to joining Seale & Associates, Brett worked with the president and co-founder of Seale & Associates, Jim Seale, for an investment bank in Washington, DC on a wide variety of M&A engagements. Previously, Brett was a Financial Analyst for the U.S. Surface Transportation Board and a consultant working with international development banks. Brett is a professional faculty member at The Johns Hopkins University Carey Business School teaching mergers and acquisitions and has been a featured speaker on M&A and corporate finance related topics at several industry association meetings and higher education conferences, such as Tecnologico de Monterrey in Mexico.

Joel Finard

Founder and Managing Partner

CapMarket Consulting

B.A. University of Massachusetts at Amherst

M.A. in Economics at Columbia University

M.Phil. Economics at Columbia Univesity

Chartered Financial Analyst (CFA)

Joel has more than 25 years of experience in the financial services industry and is the founding principal of CapMarket Consulting. Mr. Finard has provided expert testimony in numerous high-profile complex financial transactions. Joel has been retained by counsel at the U.S. Department of Justice, the Canadian Department of Justice, the Commodity Futures Trading Commission, and for Corporate and Individual Plaintiffs and Defendants. Mr. Finard is an expert in capital markets, financial risk management, and management oversight and internal controls over financial reporting. Mr. Finard’s notable cases include CalPERS vs. Moody’s and S&P, CFTC vs. MF Global, Enron Securities Litigation, Pritired vs. USA, Dow Chemical Company vs. USA, Anschutz vs. USA.  Prior to serving as a capital markets expert, Mr. Finard was the Partner in Charge of Deloitte’s Capital Markets Consulting Practice serving banks and securities dealers. The practice consisted of assessing and advising on internal controls over financial reporting, management oversight and internal control breakdowns, and financial risk management.

Jay Madsen

Private Equity Investor 

B.S. University of North Carolina at Chapel Hill
M.B.A. University of Pennsylvania – The Wharton School

Jay is a private equity and venture capital investor and operator with over ten years of experience. In 2012, Mr. Madsen joined Lecorpio in Santa Clara, CA to serve as the CEO for over five years. Lecorpio was used by five of the top 20 most active U.S. patent filers, in addition to other well-known innovators such as Adobe, T-Mobile, Rockwell Automation, NEC, NetApp and Red Hat. In 2017, Lecorpio merged with Anaqua, Inc. to create the next generation IP software and services company. Anaqua, Inc. is the premier provider of intellectual property data analytics platform solutions. Prior to joining Lecorpio, Mr. Madsen was the managing partner of Accretia Capital, a private investment firm formed by leading entrepreneurs, operators and investors to grow businesses through active management. Prior to Accretia, Jay worked in Private Equity at 3i plc, a global private equity firm with more than $21 billion in assets. Before 3i, he was a growth equity investor at Summit Partners where he focused on technology and healthcare businesses. Jay began his career in finance as an investment banking analyst at Bank of America Securities after working for IBM in various software development roles after completing the Extreme Blue Intern Corporate Program. 

Don Rogers


Shulman Rogers

B.S. Hunter College
J.D. Georgetown University Law Center 

M.L.T in Taxation, Georgetown University Law Center

Don is a leader at Shulman Rogers' Business and Financial Services Department and regarded by many as one of the foremost business advisory/transaction attorneys in the Metro Washington area. Don has a background in finance, tax, accounting and significant experience working with companies to further their growth potential through seed capital, private equity, venture capital, and strategic alliances. As a highly-regarded business attorney, Don has been a very effective team member in planning and executing exit strategies, mergers, and acquisitions. Don serves as a valuable member of the Board of Directors for a number of his clients, and was the Founding Director of Eagle Bancorp, Inc. Don is Chairman of the EagleBank Foundation, a 501(c)(3) organization, where he has helped raise millions of dollars to fund research and provide assistance to cancer patients. 

Jonathan Schilit

Managing Director

Mazwood Capital Management

B.S. University of Maryland, College Park
M.B.A. University of Maryland – The Smith School of Business


Jonathan is the Managing Director of the investment firm, Mazwood Capital Management based in Bethesda, MD. Prior to his role in investment management, Jonathan oversaw business strategy for SPARK Experience, leading growth, business development, and new product development for the Washington DC-based creative agency. Earlier in his career, Jonathan co-founded the customer experience startup, Betterific, bringing the crowd sourcing innovation platform to companies like Target, General Mills, Toyota & Coca-Cola. Prior to Betterific, Jonathan founded Waveborn, a social enterprise that sells sunglasses, and for each pair sold, donates prescription eyeglasses to those in need. Jonathan oversaw marketing for DoSomething.org, and served as executive producer for VH1’s Do Something Awards.