• Litigation Consulting - QuickRead Top Story

    The Unimpeachable Rise of Intellectual Capitalism: When the Tools Cost Less Than the Wage

    September 30, 2026

    This 28th article of the Unimpeachable Neutrality Series defines intellectual capitalism, traces labor-market capitalism from Smith and Marx to Coase and Baumol, separates the professions from the nurse and the lineman whom robotics will not reach, reads the employment data against its base years, and explains why the petite bourgeoisie Marx said would be swamped is coming back with a CPA license, and why the one asset that cannot be downloaded is an unimpeachably neutral method. In January 2017, I opened a forensic accounting firm with one employee. I had been working alone for a while before that, at a…

  • Litigation Consulting - QuickRead Top Story

    Commercial Real Estate Bankruptcy, the Cram Down Option, and the Impact of Till

    September 9, 2026

    The U.S. Supreme Court’s plurality decision in the Chapter 13 case, Till v. SCS Credit Corp., could be one of the most significant Supreme Court decisions on reorganization since the passage of the Bankruptcy Code. Many bankruptcy and appellate courts have found the Till decision to be “instructive and informative” in guiding the courts in determining cram down rates for Chapter 11 bankruptcy cases. But the question for experts is: What information do you need to determine the appropriate cram down rate? This article will discuss the Till factors, circumstances of the estate, the nature of the security, and feasibility,…

  • Artificial Intelligence - Litigation Consulting - QuickRead Top Story

    Using AI to Prepare a Personal Spending Analysis for Litigation: Potential Cost Reduction

    August 17, 2026

    Parties to litigation proceedings are often required to disclose their personal spending. The information provided to the Court may require certification that the information is complete, true, and accurate under penalty of perjury, yet often based, at least in part, on estimates. This article shows how a few simple steps can achieve the desired results without the costs, time, or guesswork. Parties to litigation proceedings are often required to disclose their personal spending. The information provided to the Court may require certification that the information is complete, true, and accurate under penalty of perjury, yet often based, at least in…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story

    26 Years of Internet Crime Reports: From Beanie Babies to Investment Scams (Part I of II)

    August 5, 2026

    Internet fraud continues to thrive. In this article, the author summarizes the types of fraud and how online fraud will continue to evolve, and what readers can do to recognize what form fraud will take. When the FBI’s Internet Fraud Complaint Center (IFCC, later renamed to IC3) first opened its doors in May 2000, it took in a mere 20,014 complaints in the first partial year of operation.[1] A quarter-century later, it has taken in more than 9 million complaints, with $11.366 billion in cryptocurrency related losses alone in a single year.[2] These annual reports are a chronicle of growing…

  • Expert Witness - Litigation Consulting - QuickRead Top Story

    Unimpeachable Damages and Value Determination: A Conveniently Alliterative Detour En Route to Providing Unimpeachably Neutral Expert Services

    July 1, 2026

    This 27th article of the Unimpeachable Neutrality Series offers a conveniently alliterative detour en route to providing unimpeachably neutral and effective expert services. You raise your right hand and swear to tell the truth, the whole truth, and nothing but the truth. Your hand has a slight shake to it, which is the coffee talking rather than the anxiety of the moment. Direct examination goes the way direct examination should: your counsel walks you through the report you wrote, the schedules appear on the screen in the order you built them, you teach the jury the difference between revenue and…

  • Litigation Consulting - QuickRead Top Story

    Book Review: Measuring Business Interruption Losses and Other Commercial Damages: An Economic Approach

    June 3, 2026

    Published in 2020 by John Wiley & Sons, the third edition provides a practical and methodical discussion of economic concepts, analytical frameworks, and litigation issues commonly encountered in damages analysis. Measuring Business Interruption Losses and Other Commercial Damages: An Economic Approach by Patrick A. Gaughan is a valuable technical reference for professionals involved in business interruption and commercial damages engagements. Business interruption damages engagements often require forensic accountants and litigation experts to evaluate “but-for” financial outcomes under uncertain circumstances. These counterfactual analyses involve projecting what a business would have earned absent a loss event and comparing those expected results to…

  • Litigation Consulting - QuickRead Top Story

    When Credentials Aren’t Enough: Lessons from the Exclusion of a Highly Qualified Damages Expert

    May 20, 2026

    A well-seasoned and highly educated CPA walked into federal court to present a lost profits analysis. He walked out of the courthouse completely excluded from testifying. This article recounts why he was excluded and lists a number of lessons one can glean from the case because having one or more credentials will not save one from exclusion. A CPA with more than 25 years of experience walked into federal court to present a lost profits analysis. He held the ABV, ASA, and CFP designations. In addition, he held a master’s degree in taxation and had decades of experience at major…

  • Litigation Consulting - QuickRead Top Story

    Discounting Losses to Present Value in Personal Injury Cases: Three Methods to Discount Lost Income

    May 13, 2026

    Having a good working knowledge of the different methods available for calculating the present value of future lost income in personal injury and wrongful death cases gives an expert an opportunity to demonstrate his or her expertise in the forensic economic field. This article will visit three methods and expand on their similarities and differences. The U.S. Supreme Court, various Federal Circuit Courts of Appeal, and numerous state Supreme Courts have provided decisions highlighting three different methods available for calculating the present value of future lost income in personal injury and wrongful death cases. These methods are discounting using the…

  • Litigation Consulting - QuickRead Top Story

    When Loss of Earning Capacity Survives Daubert: Lessons for Forensic Economists

    May 13, 2026

    A recent 5th Circuit Court ruling reaffirms that earning capacity and lost wages are distinct concepts, and that an economist’s experience-based methodology can satisfy reliability standards even without a post-injury earnings comparison. The author discusses the case. A recent 5th Circuit Court ruling reaffirms that earning capacity and lost wages are distinct concepts, and that an economist’s experience-based methodology can satisfy reliability standards even without a post-injury earnings comparison. Forensic economists who calculate damages in personal-injury matters routinely confront a recurring defense playbook: attack the expert’s assumptions, demand a side-by-side comparison of pre- and post-injury earnings, and argue that anything…

  • Unimpeachable Neutrality vs. Hardboiled Myths: A Direct Response to Hardball with Hitchner Issue 65/66
    Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable Neutrality vs. Hardboiled Myths: A Direct Response to Hardball with Hitchner Issue 65/66

    May 7, 2026

    James Hitchner’s March/April 2026 issue of Hardball with Hitchner, which opens with what it calls Myth 39, devoted a substantial part to criticizing my article “Unimpeachable Substance and Principles: Business Valuation Standards and the Substance and Principles of USPAP,” published in NACVA QuickRead on March 12, 2026. I appreciate the attention. Criticism from a visible platform is an opportunity, and I intend to use it fully. James Hitchner’s March/April 2026 issue of Hardball with Hitchner, which opens with what it calls Myth 39, devoted a substantial part to criticizing my article “Unimpeachable Substance and Principles: Business Valuation Standards and the…

  • AI, Work Product, and Rule 26 in Three Cases: Beware of Your AI Queries; They May Not Be Protected
    Artificial Intelligence - Financial Forensics - Litigation Consulting - QuickRead Top Story

    AI, Work Product, and Rule 26 In Three Cases: Beware of Your AI Queries; They May Not Be Protected

    May 7, 2026

    When you are a party in a legal matter, sometimes the things you type into an LLM are protected and sometimes they are not. Sometimes, if you share privileged things with your AI-companion, those things are no longer privileged. It depends on what you shared, who you are, and why you shared it. In this article, the author discusses three recent cases that discuss what is discoverable. Three recent cases have addressed the use of large language models (LLM or colloquially referred to as “AI”) in litigation: Warner v. Gilbarco, United States v. Heppner, and Morgan v. V2X.[1] The first…

  • Litigation Consulting - QuickRead Top Story

    Four Specific Indicia of Breach of Fiduciary Duty

    April 1, 2026

    This article examines four recurring indicia that courts consistently associate with breaches of fiduciary duty: self-dealing and secret profits, misappropriation or misuse of funds, manipulation of financial reporting and compensation structures, and the usurpation of corporate opportunities. Introduction Fiduciary duty cases rarely turn on abstract principles alone. Instead, courts look for concrete patterns of conduct that reveal whether a fiduciary has placed personal interests ahead of the party to whom loyalty is owed. In litigation, breaches of fiduciary duty often emerge through identifiable financial and operational red flags: undisclosed conflicts of interest, unexplained transfers of funds, manipulated accounting entries, excessive…

  • Litigation Consulting - QuickRead Top Story

    Red Flags Indicating a Breach of Fiduciary Duty in Financial Disputes

    March 25, 2026

    Forensic accountants are frequently brought into litigated disputes to examine whether individuals in positions of trust, such as business partners, executives, or agents, have breached their fiduciary duties. While this article concerns legal issues, the author intends to express no legal conclusions and/or opinions. Forensic accountants should consult the counsel that engaged them. Introduction Forensic accountants are frequently brought into litigated disputes to examine whether individuals in positions of trust, such as business partners, executives, or agents, have breached their fiduciary duties. While this article concerns legal issues, the author intends to express no legal conclusions and/or opinions. Forensic accountants…

  • Litigation Consulting - QuickRead Top Story

    Documents of Testifying Experts: Are My Draft Reports and Notes Discoverable?

    March 18, 2026

    The purpose of this article is to explain the author’s understanding of certain issues impacting the discoverability of documents of forensic accounting, economic damages, and business valuation expert witnesses. This article is not intended to provide legal opinions, advice, or conclusions. It merely reflects the author’s current understanding of certain legal issues relating to certain aspects of expert witness reports, e-mails, and notes. Experts should consult with retaining counsel regarding specific engagement rules. Introduction The purpose of this article is to explain the author’s understanding of certain issues impacting the discoverability of documents of forensic accounting, economic damages, and business…

  • Litigation Consulting - QuickRead Top Story

    Ensuring Data Authenticity and Governance in Litigation and Business Environments

    March 18, 2026

    As digital interdependence and geopolitical fragmentation grow, ensuring data authenticity, security, and regulatory compliance is more crucial than ever. Trust in data has eroded due to the opaque nature of AI systems, varying regulatory regimes, and governance gaps, reinforcing a critical need for transparency and accountability. The authors of this article discuss the regulatory framework, importance of data protection, risks of failing to protect the same, and how protected data is of value key to the use of AI. Introduction Ensuring data authenticity, security, and regulatory compliance is more crucial than ever as digital interdependence and geopolitical fragmentation continue to…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable Substance and Principles: Business Valuation Standards and the Substance and Principles of USPAP

    March 11, 2026

    In this 25th article of the Unimpeachable Neutrality series, the author wants to make a case that he believes is both technically accurate and practically necessary: the business valuation standards of NACVA, ASA, and the AICPA do not merely conform to the substance and principles of USPAP in a passive or derivative sense. They are built upon those principles, share the same foundational architecture, and in the specific context of business valuation, complement USPAP’s framework with discipline-specific structure. The conversation that the valuation/appraisal profession needs to have is not about which standard is superior. It is about recognizing that the…

  • Litigation Consulting - QuickRead Top Story

    A Guide to Discovery Rules: Federal and State-by-State Guidelines that Expert Witnesses Should Know (Part II of II)

    March 11, 2026

    Navigating the maze of discovery rules in economic damage cases can be daunting. Professionals often face a patchwork of regulations across jurisdictions. This two-part article provides an overview of key discovery rules applicable in federal courts and each of the 50 U.S. states. Read Part I here. In this second part of the article, the rules for Mayland through Wyoming are summarized. Maryland Maryland’s discovery rules are codified in its Rules of Procedure, with a strong emphasis on early disclosures and efficient case management. Discoverable items include e-mails, business memos, draft proposals, and other relevant electronic or written records. For…

  • Litigation Consulting - QuickRead Top Story

    A Guide to Discovery Rules: Federal and State-by-State Guidelines that Expert Witnesses Should Know (Part I of II)

    March 4, 2026

    Navigating the maze of discovery rules in economic damage cases can be daunting. Professionals often face a patchwork of regulations across jurisdictions. This two-part article provides an overview of key discovery rules applicable in federal courts and each of the 50 U.S. states. Navigating the maze of discovery rules in economic damage cases can be daunting. Professionals often face a patchwork of regulations across jurisdictions. This two-part article provides an overview of key discovery rules applicable in federal courts and each of the 50 U.S. states. The discussion is on testifying experts, as their communications and work product are subject…

  • Litigation Consulting - QuickRead Top Story

    Applying the Modern New Business Rule in Real Life: Overview of an Expert’s Testimony in a Precedent Setting Texas Court Case

    February 25, 2026

    The author had the opportunity of being the economic expert for the plaintiff in the initial case in the Business Court of Texas Eighth Division. This assignment provided the author with an opportunity to argue the modern new business rule as the basis for the lost profits calculations prepared in connection with the case. It provided the first Daubert (Robinson in Texas courts) challenge in business court and the first judge’s ruling on a motion to exclude an expert’s testimony for the business court. This article reviews the case, the judge’s ruling, and the outcome of the litigation. Two years…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Is the Risk-Free Rate Really Risk Free? Deconstructing the Idea of the Risk-Free Rate

    February 18, 2026

    To evaluate future risk factors, analysts should understand the composition of the risk-free rate and consider the data influencing U.S. Treasury Bond yields. This article analyzes the criteria for evaluating the risk-free rate for use in engagements involving business valuations and economic damages. The general notion of a “risk-free rate” is the return available as of the valuation date on a security that the market generally regards as free of the risk of default.[1] U.S. Treasuries have fit this profile for decades, providing minimum, safe alternatives for risk-averse investors. They also provide a building block for many valuation models. To…