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Business Valuation Resources, LLC

Lost Profits Damages: Lessons Learned from Motions to Exclude Financial Experts

Published: March 5, 2009
Host: Stuart Weiss, CPA/ABV
Speakers: Nancy Fannon, and Jonathan Dunitz
Run Time: 5 min., 54 sec.

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Featuring (click image for more information):

Nancy Fannon
ASA, CPA/ABV, MCBA
Fannon Valuation Group

Jonathan Dunitz
Esq.
Friedman Gaythwaite Wolf & Leavitt

Summary

In March 1999 The U.S. Supreme Court's Kumho Tire decision extended the Daubert admissibility criteria to non-scientific expert testimony. Ten years later, motions to exclude expert witnesses are on the rise, and the discovery process has become more perilous than ever. As electronic evidence rules have change, Daubert and other motions to exclude financial experts in lost profits cases have never been as prevalent. How does an expert balance the burgeoning discovery rules with the risks of being excluded?

Nancy Fannon and Jonathan Dunitz discuss the best ways to protect yourself from Daubert challenges and the lessons learned from ten years of excluded experts in Lost Profits cases.

Key Concepts

  • Unlimited scope when creating creating an expert report
  • Calculating lost profits claims
  • How to clearly demonstrate the lost profits
  • How to clearly demonstrate the causes of lost profits
  • Actual past damages versus ongoing or unrecovered damages and loss of business
  • Effectively navigating the discovery process


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