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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Class Action and Other Litigation

Date & Time
  • event Date

    Tuesday, March 14, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE webinar will show litigators how financial experts quantify lost profits so that trial counsel can understand the framework, bases, and aspects of a lost profits damages calculation, and then use those figures and calculations to prove or defend against a lost profits damages claim. The panel will also discuss how the COVID pandemic and its consequences still affect establishing or rebutting the existence and amount of lost profits in commercial litigation.

Faculty

Cameron Byrd
Attorney
Ahmad, Zavitsanos & Mensing

Mr. Byrd is a trial lawyer who represents plaintiffs and defendants in commercial and intellectual-property cases involving breach of contract, fraudulent transfer and veil-piercing, trade-secret misappropriation, covenants not to compete, and employment disputes. As lead counsel, he has succeeded for his clients at each stage of litigation, including trial, requests for emergency and permanent injunctive relief, and motion practice.

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Allyn Needham
Partner
Shipp Needham Economic Analysis, LLC

Dr. Needham has been a partner and testifying expert at Shipp Needham Economic Analysis, LLC since 1997. During that time he has testified in cases involving personal injury, wrongful death, employment matters, commercial damages, business valuation, and matters relating to Chapter 11 bankruptcies. For personal damages litigation, Dr. Needham has expertise in calculating lost earning capacity, lost expected earnings, lost economic support, lost household services, and the present value of future medical expenses. For commercial damages, he has estimated lost profits, past and future out-of-pocket expenses, and lost business value. Dr. Needham has testified on behalf of attorneys representing plaintiffs and defendants in both state and federal courts and FINRA arbitrations. He has testified at trials or hearings in Texas, Oklahoma, Arkansas, Missouri, Illinois, Mississippi, California, Alaska and Washington D.C.

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Description

Lost profits are often the single most substantial aspect of the plaintiff's claim as well as one of the most contentious, challenging types of damages to prove and are particularly susceptible to attack.

In the duel of experts over lost profits damages, both sides will want to analyze and present complex financial documentation as clearly and concisely as possible. Plaintiff's experts must put forth damages studies that are credible and can withstand cross examination from the opposition.

In determining how best to counter the plaintiff's damages claim, defense counsel faces a delicate balancing act between defending against liability and discrediting the plaintiff's numbers as presented through a defense expert.

Listen as our panel discusses the framework, bases, and aspects of lost profit damages calculations and how to prove or defend against lost profit damages.

Outline

  1. Framework for lost profits damages
  2. Evidence/documentation
  3. Quantification of lost profits damages
  4. Presentation of lost profits damages
  5. Defending against lost profits damages

Benefits

The panel will review these and other crucial issues:

  • What evidence and documentation are necessary to prove and defend lost profits damages claims?
  • What methodologies can be used to establish lost profits damages?
  • What are the critical consequences of the COVID pandemic on lost profits claims?
  • What is the most recent case law about lost profits?
  • Does it matter whether the damages alleged are general or special?