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The Comprehensive Guide to Economic Damages, Seventh Edition

April 2023 Hardcover, PDF (501 pages)

Business Valuation Resources, LLC

The Comprehensive Guide to Economic Damages, 7th Edition combines the economic expert’s knowledge of damages calculations and methods with legal and case analysis. It provides a deep and rich resource for financial experts and attorneys seeking guidance on appropriate remedies and related damages calculations. Learn more >>

Survey of Daubert Challenges to Experts Suggests Red Flags to Avoid

In 2018, appraisers had the lowest exclusion rate among all types of financial experts facing a Daubert challenge, reveals the current edition of an annual PwC survey. The article also presents some tips on how to avoid a challenge.

The main reason experts get KO’d by Daubert

Lack of reliability continues to be the main reason for financial expert witness exclusions under Daubert, according to the PwC survey, “Daubert Challenges to Financial Experts.”

In court, you must appeal to the jury

Do you think you can win over a jury with just your credentials and technical knowledge?

Appraisers fare best at surviving a Daubert challenge

In 2018, appraisers had the lowest exclusion rate (38%) among all types of financial experts facing a Daubert challenge, reveals the PwC survey, “Daubert Challenges to Financial Experts.”

In about face, Florida Supreme Court abandons Frye for Daubert

Florida has a history of wavering when it comes to the standard for admissibility of expert testimony. Not too long ago, the state Supreme Court frustrated legislative efforts to move the state from the Frye standard to the Daubert standard only to reverse itself recently by announcing the adoption of Daubert.

Daubert Rulings Reflect Courts’ Disparate Views on Gatekeeping Role

As several recent court decisions show, different judges interpret the gatekeeping role, which they assume under Rule 702 and Daubert, very differently. Some courts take a liberal approach while others favor close scrutiny of the expert’s qualifications and proposed opinion.

Recent Daubert rulings show courts’ different takes on the role of gatekeeper

A series of recent Daubert cases illustrate how different courts may interpret the role of “gatekeeper,” which they perform under Rule 702 and Daubert.

Expert’s inability to defend income analysis ‘is decidedly troubling,’ court says

Judges are alert to incongruities in valuations, as is clear from a recent condemnation case in which landowners hired three experts to calculate the compensation owed to them.

More on Florida’s decision re: Daubert

As we reported last week, the Florida Supreme Court recently invalidated a 2013 legislative amendment that required courts to use the Daubert standard to assess the admissibility of expert testimony.

Florida Supreme Court negates legislature’s adoption of Daubert

In 2013, the Florida legislature amended the Florida code, section 90.702, dealing with expert testimony, to incorporate the Daubert standard in the state’s rules of evidence.

New Jersey closer to Daubert but still not a Daubert jurisdiction

A decision from the Supreme Court recently led New Jersey to adopt key Daubert factors for determining the admissibility of expert testimony, but the high court’s ruling also expresses a reluctance to fully embrace the Daubert standard.

New Jersey adopts key Daubert factors for expert admissibility determination

In an important ruling, the New Jersey Supreme Court recently took a big step toward Daubert but failed to embrace it completely.

Expert’s Failure to Explain Basis for Compensation Analysis Renders Testimony Inadmissible

In condemnation case requiring fair market value analysis to determine compensation due to landowners, court excludes defense expert testimony, citing failure to follow mandated methodology and standard of value; court calls aspects of loss calculation based on income approach “disturbing.”

Rover Pipeline LLC v. 10.55 Acres

In condemnation case requiring fair market value analysis to determine compensation due to landowners, court excludes defense expert testimony, citing failure to follow mandated methodology and standard of value; court calls aspects of loss calculation based on income approach “disturbing.”

Trial court leans on peer review service for Daubert determination

When, in a Mississippi accounting malpractice case, the trial court used an outside "technical advisor" to determine the admissibility of the parties’ proposed expert testimony, the Daubert hearing assumed a whole other dimension. It was no longer simply a battle between the opposing experts, but an occasion for outside experts to judge the work of the parties’ experts.

Missouri says yes to Daubert

Missouri's governor recently signed into law a bill in favor of adopting the Daubert standard applicable to the admissibility of expert testimony. The move by the governor apparently is the first in several major tort reform measures he hopes to accomplish during his term.

Damages testimony undergoes Daubert treatment in class certification stage

Class actions have their own rules, including when it comes to expert testimony. An unresolved issue is whether damages expert testimony is subject to a Daubert inquiry at the class certification stage, before the court has approved the request to proceed as a class action. The U.S. Supreme Court has yet to give clear guidance, but defendants are increasingly proactive and move to exclude the testimony at the beginning of the litigation in an attempt to thwart class certification and knock the case out early.

AICPA Tips for Testifying Experts

Appraisers working on litigated disputes face special challenges. Several workshops at the recent AICPA conference in Nashville provided insights and survival tips that benefit both the seasoned financial expert witness and the upstart.

Flawed yardstick analysis sinks lost profits award

A drawn-out damages case in which a startup compression sportswear company sued the defendant "private label" manufacturer over an abandoned licensing deal promised to make the plaintiff rich but ultimately ended with nominal damages.

Daubert tests reliability of testimony, not power of persuasion

The plaintiff, representing the debtor enterprises, sued executives of related family-run consumer lending and retail businesses that had filed for Chapter 11 bankruptcy over allegedly fraudulent transfers.

Expert report proves best defense against Daubert offense

In litigation, attacks on expert opinions are par for the course, but a sound expert report can ward off a Daubert challenge and clear the way to admission at trial, as a recent fraud case illustrates.

How else to look at the 'Gawker' case: It's about unjust enrichment

It's not your average lost profits or lost business opportunity case. Rather, Hogan's damages experts were successful in quantifying damages under the less-common unjust enrichment theory. Rather than focusing on the damages to Hogan, the plaintiff, stemming from Gawker's misconduct, the experts calculated the gain to Gawker, the defendant, from the misuse of Hogan's assets, that is, his brand and other intellectual property.

Court admits expert's anti-'Georgia-Pacific' royalty calculation

There is no absolute requirement to develop a reasonable royalty based on the Georgia-Pacific framework. That's the takeaway from a Daubert ruling in which the court denied the defendant's motion to preclude the testimony of the opposing damages expert, who determined a reasonable royalty based on market data instead of the customary Georgia-Pacific factors.

Wholesale exclusion of expert testimony contravenes Daubert, 2nd Circuit says

One error in an extensive economic analysis does not automatically call into question the entire expert opinion, the 2nd Circuit Court of Appeals recently said in the context of a securities fraud lawsuit involving the drug giant Pfizer. With this pronouncement the appeals court resuscitated a class action that had died after the district court excluded the plaintiffs' loss causation and damages expert under Daubert based on errors in the expert's event study. Deprived of the testimony, the plaintiffs were unable to prove two critical elements of their claim.

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