Economic / Commercial Damages

Economic and commercial damages arise out of a variety of circumstances.  Just a few practice areas that we have been engaged in includes personal injury, business disputes, domestic and international commercial sales contracts, and wage and hour claims.

Most recently we were engaged by two Asian firms to calculate the damages suffered as a result of the cancellation of a contract by an American firm.  We were also tasked with the responsibility of analyzing the opposing expert’s report, which our analysis found was fundamentally flawed.  Our findings were critical in the undermining of the opposing expert’s conclusions.

Preparing economic damages estimates is as much an art as a science. A damages expert needs skill, experience, and logic to gather and correctly interpret the financial and statistical data, discard the inappropriate material, and apply the correct analysis to the facts of the case. It may also be necessary for the expert to critically analyze the report of the opposing expert, and in due course, explain and defend their own opinions.

We have served as damages experts during arbitration, at various hearings, for depositions and at trial literally hundreds of times. Our combined decades of education, training and experience make us uniquely qualified to serve as your damages expert.

Aside from commercial damages, financial damages can arise from a variety of circumstances such as from physical injuries caused by an accident, theft of assets such as embezzlement, loss of a job or wrongful termination, business interruption, theft and many other circumstances. The losses suffered can include calculations of past and future damages for such things as wages and benefits, business profits, medical expenses, interest, and vocational training, and calculation of the present value of the losses.

Our experience includes serving as a damages expert in both state and federal cases and for plaintiffs as well as defendants.  We have served and testified as a damages expert in California and Florida.

 

Client comments:

“We wish to express our sincere thanks for all the support, constructive dialogue and professional expertise during this challenging time in our lives. We cannot thank you enough for all of the time you invested to help produce a positive outcome for us.” – J & L

 

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Practice Areas

We are routinely asked to determine the economic damages resulting from an event or circumstance such as:

  • Personal injury or wrongful death
  • Loss of the use of a business asset
  • Fraud
  • Wrongful termination
  • Involuntary conversion
  • Lost profits
  • Domestic and international commercial sales contracts

 

Case Examples:

Example 1:

Our experience includes a case in Florida that resulted in the plaintiff recovering over $746,000 in economic damages, as a result of injuries suffered in a traffic accident.  The plaintiff was an actor whose career was severely impacted by the injuries suffered.

Example 2:

In another matter our client was a commercial business that provided products in the food service industry and whose competitor hacked into the client’s computer system in order to steal vital confidential data to use to their advantage in negotiations by under bidding our client.  Extensive analysis of customer sales activity identified dramatic declines in sales while the competitor’s sales to the same clients increased.  We were able to show the dramatic financial consequences and in addition provide critical analysis of the competitor’s expert’s report that rendered opposing expert’s analysis useless.  The mediator commented that there was essentially only one economic analysis.  Ultimately, our client was able to negotiate a large settlement that day.

Example 3:

The client, a licensed real estate agent, was selected by an international real estate developer as the lead sales agent for multi-story real estate development project.  The developer accused the client of fraud, alleging, among other things, that he colluded with buyers giving them reduced prices on the original purchase so that he would get an exclusive listing to resell the property at a later date.  Analysis of the transactions and the command of the facts proved these claims baseless.  The analysis we performed and testimony provided was credited by the client, their attorney, and the jury with being the turning point in the trial and was credited with the reason there was a successful verdict.