• Litigation Consulting - QuickRead Top Story

    Applying the Modern New Business Rule in Real Life

    February 25, 2026

    Overview of an Expert’s Testimony in a Precedent Setting Texas Court Case 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…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    A Collision Course in Evidentiary Standards for AI-Assisted Financial Forensics

    February 11, 2026

    How a New Proposed Rule of Evidence Seeks to Admit AI Analysis and Supplant Experts On January 30, 2026, Anthropic released legal plugins for its Claude AI that automate contract review, compliance tracking, and legal analysis. Within three days, $285 billion in market value evaporated from legal software and publishing companies. This was not a correction. It was a signal. The AI companies are no longer content selling infrastructure, now they are coming for the legal, financial, and forensic analysis applications themselves. The author discusses the legal and practical repercussions that the new Federal Rule of Evidence would have on…

  • Litigation Consulting - QuickRead Top Story

    From Forecast to Flawed Assumptions and a Speculative Basis

    June 4, 2025

    Court Dismisses Accounting Expert’s Testimony in Packaging Lawsuit Daubert motions are commonly raised to exclude experts. In this article, the author underscores the importance of questioning a client’s representations and documenting the basis for damages calculations. The failure to do so exposes the expert to challenges on the basis that the opinion is flawed because it is based on speculation and questionable assumptions. Bon Appetit Danish and Bon Appetit Specialty Snacks, renowned for their baked goods across Los Angeles and beyond, sought to streamline their packaging process through automation. The goal was to modernize the wrapping of items like donuts,…

  • Litigation Consulting - QuickRead Top Story

    Price Isn’t Right

    May 7, 2025

    Inside the Expert Battle Over Kroger’s Pharmacy Discounts What does “usual and customary price” mean? How does a plaintiff challenge such a broad assertion in a class action? What will a defendant assert to discredit a plaintiff’s expert? This article discusses the Daubert motion brought forth in Kirkbride v. The Kroger Co. and provides notice to how a challenge may unfold in other class action suits that have a similar underlying claim(s). In a closely watched ruling, a federal court allowed expert testimony to proceed against Kroger over claims it concealed lower prescription prices. At the center of it is…

  • Expert Witness - Litigation Consulting - QuickRead Top Story

    Accounting Expert Witness Reliably Calculates the Quantum of Monetary Harm

    January 29, 2025

    The Court Assess Substantive and Procedural Advanced to Disqualify Expert Witness This article provides an in-depth review of a recent infringement, unfair competition and cybersquatting where Plaintiff sought disgorgement of profits. The case highlights procedural and substantive arguments advanced during litigation and basis the Court used to partly disqualify the testimony of defendant’s expert witness. It also serves as a caution and learning opportunity for current and prospective financial damages expert witnesses. Plaintiff, Mission1st Group, Inc. (“M1G”), owns the federally registered trademark MISSION1st in connection with business advisory, information, technology, telecommunications, engineering support, and risk mitigation services. Plaintiff provides these…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story

    The Intersection of Advocacy and Financial Forensics

    December 31, 2024

    The Role of the Expert in 21st Century Dispute Resolution Almost five years ago, the author penned an article published in NACVA’s QuickRead April 14, 2022. In that article, he described what was his perspective as a “recovering judge” of the role of the “expert” in the 21st century profession of dispute resolution. In this article, the author revisits, and in some cases revises, the observations and predictions set forth in the earlier article. Introduction Almost five years ago, I penned an article similarly titled, which was published in NACVA’s QuickRead April 14, 2022. In that article, I described what,…

  • Expert Witness - Litigation Consulting - QuickRead Top Story

    Expert Testimonies in The Trade Group, Inc. v. BTC Media, LL

    July 24, 2024

    Challenges and Key Takeaways The recent case of The Trade Group, Inc. v. BTC Media, LLC highlights the impact that experts have on judicial outcomes. The litigation revolved around a financial dispute over the Bitcoin 2022 conference and allegations regarding overcharges and financial mismanagement. Through expert testimonies, the Court ultimately provided an opinion based on the crucial contributions of expert witnesses in high-stakes litigation. Expert testimony plays a pivotal role in unraveling complex economic disputes. It is often one of the essential elements in dispute resolution. Why is that? Expert testimony brings specialized knowledge, technical insights, evidence interpretation, and factfinder…

  • Litigation Consulting - QuickRead Top Story

    Challenges to Expert Witnesses Under New Rule of Evidence 702

    June 5, 2024

    Experts on Notice Federal Rule of Evidence 702 has undergone changes; these were made in 2000 and 2011. The recent amendments clarify the gatekeeping function of the trial court. A trial court is charged not with weighing the expert’s opinion; rather it is charged with determining if the testimony is admissible. This article discusses the recent changes to this rule and how this will impact proposed experts and their counsel’s choice of experts. Ever since the United States Supreme Court rendered its groundbreaking decision in 1993 in Daubert v. Merrell Dow Pharmaceuticals, Inc., 509 U.S. 579 (1993), expert witnesses have…

  • Practice Management - QuickRead Top Story - Valuation/Appraisal

    What the Tax Court Wants to See

    February 21, 2024

    In Your Expert Report This article includes tips for preparing an expert report but is not intended to be all inclusive. In addition to these points, remember to carefully consider professional standards, including those that are non-binding, and any code of ethics. Also prepare your report with the expectation of a Daubert motion or similar challenge to your qualifications and/or methodology. The Federal Rules of Civil Procedure give specific requirements for expert witness reports. In addition, published Tax Court opinions often include criticism of expert reports, thereby providing guidance on what the court prefers to see in the future. Their…

  • Litigation Consulting - QuickRead Top Story

    Daedalus Blue, LLC v. MicroStrategy, Inc.

    November 29, 2023

    Court Admits Royalty Analysis on a Convoyed Sales Approach and Denies Motion to Exclude Patent Infringement Case This case arose from a patent infringement lawsuit filed by the Plaintiff, Daedalus Blue, LLC against the Defendant, MicroStrategy Incorporated. Daedalus alleged that MicroStrategy’s analytics software products infringed on two patents originally developed by IBM: the ‘172 patent related to data storage and retrieval techniques, and the ‘076 patent related to restricting user access. As the case proceeded to the damages phase, MicroStrategy filed a motion to exclude certain opinions of Daedalus’ damages expert, Jim W. Bergman, under Daubert and Federal Rule of…

  • Litigation Consulting - QuickRead Top Story

    Lawyers, Judges, and Experts

    February 1, 2023

    Their Changing Roles and Responsibilities The Frye and Daubert decisions shook the legal world and the standards enunciated also shook the valuation world. In this article, the author shares some recent Maryland developments and surmises that there may be more changes coming that will affect the role of lawyers, judges and experts. In my 30 years as a Judge on three different Maryland Trial Courts and the last 16 years as a Senior Judge serving on two of those Trial Courts and one appellate Court conducting ADR, I have observed and experienced the changing roles of lawyers, judges, and experts…

  • Litigation Consulting - QuickRead Top Story

    Looking Back to Go Forward

    August 24, 2022

    A Review of the Basics for Lost Profits (Part I) Those who have worked in the forensic field for many years begin to take for granted how we approach and handle certain situations. We have a level of knowledge and experience that lets us move forward without much research. But, with this level of experience and understanding comes a level of forgetfulness. Not that we forget how to perform the analysis, but we forget why we need to perform an analysis a certain way. I believe it is good from time to time to stop and ask, “Why do we…

  • Litigation Consulting - QuickRead Top Story

    The Economic Waste Doctrine

    June 29, 2022

    Experts Beware… Financial experts that handle construction defects claims should be familiar with the doctrine of economic waste, the potential limitations on a damages claim, and recognize the potential of this doctrine arising in a damages engagement. The author shares how this doctrine may arise and what to look for before accepting a damages engagement. “Economic waste is the label that courts have adopted as justification for not awarding an aggrieved party the cost of performance as damages for breach of a construction contract”.[1] This topic generally arises when a repair in a construction defect matter requires significant reconstruction or,…

  • Litigation Consulting - QuickRead Top Story

    Consequences of Appearing as a Witness

    June 15, 2022

    At a Deposition or Court Hearing To begin to understand the subject, we must point out that the “Reglas de Evidencia de Puerto Rico” (the Puerto Rico Rules of Evidence) and the Federal Rules of Evidence adopted in the district of Puerto Rico—which is part of the Second Circuit Court of Appeals—allow for expert testimony to be inserted into the “record” of a case in a deposition or in a court hearing, are basically the same. This article covers the significance of the Daubert standard and provides a summary of rules to temper the expert that does not feel constrained…

  • Litigation Consulting - QuickRead Top Story

    Daubert Challenge

    May 31, 2022

    End of Life or Another Day at the Office? One of the most concerning communications for experts to receive from a hiring attorney is the opposing attorney has filed a Daubert motion to exclude their opinion. Going through a Daubert challenge is stressful for even experienced experts. This article will discuss the Daubert decision and its impact on experts. It will also address questions considered by courts regarding an expert and their work. Finally, the author will discuss his experience with Daubert challenges, the process, and working with the hiring attorney in defending the expert’s opinions. One of the most…

  • Litigation Consulting - QuickRead Top Story

    The Role of the Financial Forensic Expert in Dispute Resolution

    April 13, 2022

    Changes in the Methods of Dispute Resolution In this article, Steven I. Platt, a retired Maryland Circuit Court judge, founder of The Platt Group, Inc., and QuickRead’s newest editorial board member, shares with readers the changes he sees affecting civil court proceedings, rise of alternative dispute resolutions, and opportunities that are becoming available to credentialed business valuation and financial forensic professionals. Traditionally, our citizens have had their disputes (legal and factual) resolved by a judge or jury in a courtroom. There, the role of the “Expert” has historically focused on assisting the trier of fact, be it a judge or…

  • Litigation Consulting - QuickRead Top Story

    Lost Profit Damages: Principles, Methods, and Applications

    March 9, 2022

    A Review of Everett P. Harry, III and Jeffrey H. Kinrich’s 2022 Second Edition In 2017, Everett P. Harry, III and Jeffrey H. Kinrich released Lost Profits Damages: Principles, Methods, and Applications. Their purpose in publishing the book was to provide a comprehensive reference guide to cover important topics relevant to determination of lost profit damages. This book review discusses the second edition released in late January 2022. In 2017, Everett P. Harry, III and Jeffrey H. Kinrich released Lost Profits Damages: Principles, Methods, and Applications. They published this first edition to provide a comprehensive reference guide to cover important…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Case Study

    January 13, 2021

    Changing Assignments from Fairness Opinion to Business Valuation Commercial damages matters can be challenging and require a flexible mind when “wrapping your brain” around the issues and facts of a particular case. Beginning in the first quarter of 2019 and running through October 2020, I had an assignment which began with a simple fairness opinion letter and ended with my testifying at trial to defend my valuation of the business. This article will review the changes in my assignment, the decision to value the business, the Daubert challenge brought by the opposing side, and testifying via Zoom at the trial.…

  • QuickRead Top Story - Valuation/Appraisal

    Data Reliability Issues

    November 4, 2020

    When is there a Duty to Corroborate Data? NACVA’s Standards Board (SDB) was formed in 2016 with the purpose to promulgate NACVA’s Standards, including the development of interpretations, amendments, restatements, and new releases of NACVA’s Standards as deemed necessary and prudent. While being able to influence the very rule governing one’s profession is an astute honor, the most rewarding role performed by the SDB is that of responding to questions that a member has asked or issues they are dealing with. This article addresses data reliability questions and issues, and how it relates to the NACVA standards. NACVA’s Standards Board…

  • Litigation Consulting - QuickRead Top Story

    Economic Damage Measurements

    March 19, 2020

    Lost Profits and Loss of Business Value—Differences and Correlation in Terms of the Harmful Impact to Plaintiff’s Claims When a plaintiff suffers, or believes to have suffered, economic damages as a result of a defendant’s actions in a civil matter he/she and their attorney are faced with determining the amount of economic damage suffered. A damages remedy is provided to restore the plaintiff to the same economic position they were in prior to the act. The selection of the appropriate economic damage is a factual one based on various elements including causation and timing. While this may appear relatively straightforward,…