Core Finance Team Affiliates, LLC v. Maine Medical Center—The Distinction Between Quantum Meruit and Unjust Enrichment What is the difference between a claim of quantum meruit and unjust enrichment? This very issue was addressed in Core Finance Team Affiliates, LLC v. Maine Medical Center and is discussed in this article. The legal profession is famously hidebound; for goodness’ sake, they still where robes and wigs in English courts. As a result, they still throw around many Latin phrases, which can lead to confusion. In Core Finance Team Affiliates, LLC v. Maine Medical Center, 2024 ME 78, 2024 Me. LEXIS 85…
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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…
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Theory into Practice In our literature and at professional conferences, we often discuss the theoretical aspects of our work. For lost profits this includes discussions on the best method for valuing lost profits (before and after, yard stick, but for) or the optimal discount method (ex ante, ex post, or hybrid). Occasionally, these become academic debates with little impact on our “real life” work. This year, I received an assignment that allowed me to apply some of these theoretical ideas to real life circumstances. This case involved stolen intellectual properties and three separate loss categories: lost royalties, lost profits, and…
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A Closer Look at Unjust Enrichment Financial experts typically calculate damages remedies that focus on a plaintiff’s loss that is quantified either through lost profits or lost business value. In contrast, unjust enrichment is a damages remedy that measures the defendant’s benefit or gain. While the three remedies all serve to quantify damages, an expert must understand the similarities and differences among the remedies to render a relevant and reliable opinion that can withstand the court’s scrutiny in litigation. This article discusses issues that arise, measuring unjust enrichment and how it differs from a lost profit calculation.
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Advise for Budding and Experienced Experts The third edition of The Comprehensive Guide to Lost Profits and Other Commercial Damages is marked departure from the prior editions. This two-volume set is replete with valuable information and insight from experienced practitioners.
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Differences Between the Two Values Damages remedies often focus on lost profits and lost business value, with such remedies typically calculated by financial experts. There continues to be a trend in the courts to preclude experts from testifying, or to disregard them altogether because their opinion does not meet the reasonable certainty standard. Either of these outcomes can be a devastating result for the client. These results occur, in part, from a lack in understanding of the proper calculation of lost profits or lost value. A relevant and reliable opinion, able to withstand the court’s scrutiny in litigation, needs to…