Description:
Learn how lost profits damages are calculated and how to effectively use an expert.
Financial experts are typically hired to analyze and present complex financial quantifications and issues to a trier of fact. A financial expert’s calculation of damages should be credible and be able to withstand critiques from the opposition.
This topic provides an overview of the quantification of lost profits from the perspective of a lawyer and financial expert. It will also provide useful tips on how a lawyer and expert work closely together to effectively calculate and present a lost profits calculation throughout the litigation process.
Framework for Lost Profits
• Examples of Cases for Lost Profits Damages
• Legal Considerations (Causation, Mitigation, Reasonable Certainty)
Documentation to Consider
• Case Pleadings
• 30(b)(6) Depositions
• Financial Documentation From Parties
• Industry and Market Research
Quantification of Lost Profits Damages vs. Business Valuation
• Methodology
• Assumptions
• Calculations
• Discounting/Prejudgment Interest
• Punitive Damages
Presentation of Lost Profits and Disgorgement Damages
• Expert Report Preparation
• Deposition and Trial Tips From a Lawyer's and Expert's Perspective
• Preparing and Presenting Trial Exhibits, Demonstratives, and Testimony
Credit Information (Sponsored by Lorman Education Services):
- CLE
- NALA
Only registered attendee will receive continuing education credit.
Faculty:
Richard E. Coe, Esq., Drinker Biddle & Reath, LLP
- Partner in the Litigation Group of Drinker Biddle & Reath LLP, and the co-leader of Drinker Biddle’s Commercial Litigation Team
- Represents clients in complex disputes involving antitrust, mergers and acquisitions, and corporate governance issues
- Frequently represents public and private companies, their directors and officers, and investors in claims arising from corporate transactions
- Defended clients against challenges to mergers and acquisitions; prosecuted and defended clients in indemnification disputes asserting breaches of representations and warranties in deal documents; negotiated working capital disputes, defended officers and directors against breach of fiduciary duty claims; represented the company or a committee of the board of directors in connection with several special investigations; and represented companies in books and records disputes
- Frequently is required to assess or litigate complicated damages issues, including lost profits
- Litigated diminution in value damages claims arising from complex corporate transactions and argued for damages based on a multiple of earnings
- Has litigated several damages issues in the antitrust context and has significant experience arguing Daubert issues, successfully argued for the exclusion of expert testimony on damages in a nationwide antitrust class action filed against a pharmaceutical manufacturer and has also successfully defended damages experts against Daubert challenges and presented expert testimony in court proceedings and arbitrations
- Graduated from the United States Naval Academy and Harvard Law School
- Can be contacted at 215-988-3393 or richard.coe@dbr.com
Joseph W. Lesovitz, CPA/ABV/CFF, CFA, CFE, Citrin Cooperman
- Partner in the Valuation and Forensic Services Group with over 15 years of experience
- Specializes in calculating damages in complex commercial litigation and in providing financial consulting and forensic accounting services to attorneys, public and private corporations, insurance companies, and governmental agencies
- Has served as a damages expert witness in federal and state courts
- Provided consulting and litigation services for cases involving complex commercial damages, lost profits analysis, intellectual property infringements, business valuations, economic damage calculations, and fraud investigations
- Adjunct professor at the Villanova University School of Law where he teaches courses on economic damages and litigation strategy and introduction to accounting and business valuation
- M.B.A. degree in accounting, Saint Joseph’s University; B.S. degree in accounting, from Villanova University
- Certified Public Accountant in Pennsylvania, Chartered Financial Analyst, Certified Fraud Examiner, Certified in Financial Forensics, and Accredited in Business Valuation
- Can be contacted at 267-479-0060 or jlesovitz@citrincooperman.com
(Not available outside the US)