The plaintiffs’ business was allegedly damaged by the actions of the defendant. The plaintiffs engaged an expert in economic damages and lost profits. The defendants engaged their own expert to provide his opinions as to why he believed the plaintiffs’ expert’s opinions were unreliable. The court ultimately excluded this portion of the defendants’ expert’s testimony.
View Case Digest View CaseIn Re Riddle
The appeal in this case dealt with, among other issues, the trial court’s decision to adopt the husband’s expert’s value that was based on a capitalization of earnings based on expected future income. The appellate court noted that the evidence from the trial showed that the business received no revenue after the wife sold her interest to a third party, and there was no evidence that similar earnings would occur in the future. The trial court’s determination of value was vacated and remanded.
Trial Court’s Decision of Value of Business Based on a Going Concern Is Reversed and Remanded
The appeal in this case dealt with, among other issues, the trial court’s decision to adopt the husband’s expert’s value that was based on a capitalization of earnings based on expected future income. The appellate court noted that the evidence from the trial showed that the business received no revenue after the wife sold her interest to a third party, and there was no evidence that similar earnings would occur in the future. The trial court’s determination of value was vacated and remanded.