As experts, don’t we owe loyalty to ourselves and our profession? The article draws a parallel between the qualities that are needed to obtain the Eagle Scout designation and those that are necessary to serve as an expert witness. ...

A summary of recent federal and state court cases involving final partner administrative adjustments, mergers, and matrimonial law This month we highlight four cases.  The first is Rovakat, a federal appellate court decision where a claimed redemption was deemed a sale of stock. The In re MFW Shareholder Litigation case involves a motion for summary judgment where a majority of the minority shareholders app ...

Getting ready for your day in court Part 1 of Preparing for Expert Witness Testimony was published in QuickRead in August 2013.  The article dealt primarily with the importance of effective engagement letters and information gathering in the expert witness preparation process.  It would behoove readers to revisit  Part 1 to receive the full value of the expert witness process.  ...

Equity creditor appointment standards and lessons for hiring business valuation professionals from Kodak’s bankruptcy This article provides an overview of the Eastman Kodak bankruptcy case and focuses on the standard a bankruptcy court will use deciding whether to appoint an official equity creditors' committee. It also explains why the bankruptcy court granted Kodak’s motion in limine to exclude‒under Daub ...

Preparing expert witness testimony that can go the distance Although most expert witness engagements end without an opportunity to present your findings or testimony, this is no excuse to be lax in your analysis. In the handful of occurrences where expert witness testimony will actually be required, it must be clear, concise and thorough enough to go the distance during the proceedings. It must be assumed t ...

Jumpstarting a career as a litigation consultant and expert witness Getting started as a litigation consultant or expert witness takes time. The service is cyclical, and the first engagement may be the last engagement. You’ll need to be well-prepared and knowledgeable in each field. ...

Procedural phases in litigation: the role of the expert from drafting of the complaint through trial In this first part of a four-part series titled “Providing Effective Litigation Services” Mark Shirley, CPA/ABV, CVA, MAFF, CFE presents an overview of the phases in a civil case, from filing of the complaint through trial.  An effective expert is a professional that understands the procedure, rules, his or ...

Businesses Incur Expenses In Order to Generate Sales. Understanding How These Different Variables Relate to Each Other is Important. Here are Some Tips. Often experts present opinions based on statistical analysis. It helps to understand some basic statistical tools.  Dave Sutherland discusses some tools used to test for relationships that may exist among data sets, such as sales, marketing, cost of goods s ...

Plus: Rulings on Family Business Share Value in Oklahoma, Expert Witnessing in New Hampshire The California Appeals Court rules on whether a vineyard’s expectations for future profits for land taken in eminent domain proceedings was a reasonable extrapolation in The People v. Dry Canyon Enterprises, LLC.  Click for more state case law on non-competition agreements, expert witnessing, and family business sha ...

Arbitration Panels Don’t Know Everything a Financial Expert Does. But That Doesn’t Mean You Should Even Consider Talking Down to Them. Arbitration is somewhat similar to a bench trial, but experts need to present opinions somewhat differently than if they were testifying in a jury trial—and this is particularly true with experts testifying on financial issues such as economic damages.  Joe Epps explains why ...

Appraisers Should Focus on Objectivity and Competence and Be Ready and Flexible to Deal with Unanticipated Challenges—From Vague Case Law to New Evidence to Erupting Personalities. Rand Curtiss expounds on his philosophy that business appraisal is about boundaries: limits on what we can do. Every work challenge is filled with a large number of people, each of whom have different boundaries. Business sellers ...

Discovery should focus on the technologies storing data Karl Epps explains how technology has changed in the last year, and what impact those changes have had on current and future standards for digital evidence. ...

Here are four surprising ways to protect yourself in a law suit and keep legal fees to a minimum. Kevin Daum at Inc. advises:  "Shakespeare said, "First kill all the lawyers." Maybe this seems a tad aggressive, but then again, for most people the last thing you look forward to is someone showing up at your door with a subpoena. Whether a lawsuit is business related or personal, the thought of engaging an at ...

Credibility is the Critical Driver of Value for an Expert. Stay on Top With These Best Practices. John Marcus provides guidelines successful expert witnesses abide by: Trust no one, read everything, spend more time thinking and less time computing, and be true to yourself. Here’s why these best practices matter. ...

Why Experts Working from the Same Facts Generate Varying Opinions Financial experts can differ wildly in their opinions and findings because of differences in their underlying financial and economic assumptions, differing legal interpretations, differing theories on damages, and different access to information. Jim Gravitt explains. ...

Maintaining Professionalism Under Pressure and Under Oath Different legal professionals can use vastly different deposition techniques. John R. Markel shares two starkly different experiences with depositions, and details how to prepare yourself for the standard questions as well as how to cope with curveballs. ...

Understand the Critical Distinction Between a “Testifying Expert” and a “Consulting Expert.” Brad Eldridge and Rebekah Smith explain how the requirements for a “testifying expert” in litigation work vary considerably from those for a “consulting expert.” Learn more about this distinction and find out how consultants can develop a checklist of best practices for courtroom preparation. ...

Great Testimony Doesn’t Proceed From Charisma Alone. It’s Mostly about Preparation. Here’s Why. Joe Epps, CPA/CFF/ABV, CFE, CVA, explains that great expert testimony proceeds from extensive preparation of testimony outlines and demonstration exhibits to a thorough review of relevant documents, including expert reports, deposition transcripts, and a full reading of other parties’ testimony. ...

Avoid Hypotheticals. But Remember: Experienced Experts Recognize that Limited Evidence Will Often Support a More Limited Opinion Michael Kaplan explains how limited evidence can still support a limited opinion. Read about a valuator who had access to an insufficient number of documents and a hard cutoff date to complete a valuation by. Since the valuation was prepared in a manner that meets the professional ...

The Best Experts Increase Odds of Winning by Devising Strategy, Guiding Discovery, and Enhancing the Quality of Daubert Challenges Donald M. May at Claims Journal explains how the best expert witnesses increase odds of winning by devising strategy, guiding discovery, and enhancing the quality of Daubert challenges.  Here are the sort of queries—about specific topical expertise, testimony record, exclusion h ...