How a good damages expert witness can help
A persuasive damages expert witness can assist in a wide variety of cases. A damages expert might consult or testify on:
- Settlement fairness, particularly in wrongful death, bankruptcy, or class actions requiring court approval
- Net loss on the purchase of an asset, especially in securities fraud actions
- Allocation of damages, especially in class actions
- Compliance with damages caps or limitations
- Historical consequential damages
- Reasonable royalties
- Value of a damaged intangible asset
- Lost revenue
- Lost profits, whether gross, net, or after tax
- Profits earned by the liable party
- Lost wages or earnings
Types of damages expert witnesses
Economic damage experts usually have one or more of these credentials: (a) Ph.D. or a master’s degree in economics, (b) CPA, (c) actuary, (d) certified valuation analyst, and (e) MBA with concentration in finance.
a. Economists might consult or testify on market conditions affecting a company’s financial performance, transfer pricing, or lost revenues or profits.
b. CPAs can analyze financial, government, or cost accounting data, apply accounting principles, value businesses or stock, analyze financial statements and costs, make financial projections, and assess tax impact.
The utility of economists and CPAs overlap. Economists assess markets, analyze statistics, and make forecasts, while CPAs tend to be used more often to analyze cost and accounting data and assess tax implications. In large cases, both may be helpful.
c. Actuaries have mathematical backgrounds and assess the financial impact of risk and uncertainty. They quantify contingent outcomes, including the pricing and reserving practices of insurers, and benefit plan funding.
d. Valuation analysts can help value businesses, real estate, or other specific assets in dispute. They might be used in divorces, partnership breakups, and disputed mergers.
e. Finance MBAs can be helpful with financial planning, projections, interest rates, letters of credit, lender liability, lease lending, fraudulent conveyances, and corporate and structured finance.
To have us locate a persuasive damages expert witness for you, contact Justine at 714-434-5929 or by email.