Articles Posted in Expert Witness News

In 14 Rules For Working With An Expert Economist, expert witness Dr. Jerome M. Staller offers “rules” to follow that will help your economics expert witness do the best job he or she can for you and your client.

Retain experts early enough to assist with discovery. This should be a no-brainer, yet I still get calls asking if I can testify in a case that is being tried next week. To produce a credible, defensible and thorough damages argument, I need specific and detailed data, much of which can only be obtained through discovery. This takes time.

Work to understand relevant technical issues. The best attorneys I have worked with share one significant trait: they have an avid curiosity about the details of all phases of each case — liability, damages and everything else, and work to understand all relevant technical aspects of a claim.

Excerpted from The Center for Forensic Economic Studies http://www.cfes.com/

Securities expert witness Chris McConnell, AIFA®, writes on a 2007 court decision requiring some stock brokers to register and comply with the Investment Advisors Act of 1940.

Prior to this decision (FPA v. SEC) what was the brokers’ responsibility to customers’ accounts? Over 1 million customers may find new customer account agreements in the mail. Customers should read and understand potential liability-shifting and the gravity of the decision on previous, current and future investment advice and recommendations. Some customers especially trustees, unwittingly relinquish rights even before investments occur; fiduciary duty appllies before and during review and monitoring of the account agreement with the broker dealer or investment adviser and any changes thereto. Notably, stock brokers (Series 7 licensees, registered representatives, supervised by broker dealers) are required to adhere to FINRA (formerly NASD) rule 2310 regarding Suitability and the NYSE (New York Stock Exchange) rule 405 regarding “Know (and update) your Customer” as they relate to securities recommendations in contrast to the customer’s cash flow needs, time horizon, age, tax bracket, tolerance for risk (fluctuation to principal), income (amounts and sources), net worth (liquid and total) and other factors.

Excerpted from http://www.fiduciaryexpert.com/page2.html

Computers expert witness Scott Greene of Great Scott Enterprises, Inc., writes that it is important to understand that computer forensics is not just “looking around in a computer.”

There are very specific protocols for recovering, preserving and analyzing the data as evidence. Certain data may need to be recovered due to the fact that it was purposely destroyed. In addition, there are data files that are created during normal operation of the operating system or of an application program that individuals usually don’t realize exist. These intricacies require an expert. Proper handling techniques preserves data from websites, computer files, fax machines, emails, etc.

Did you know that computer forensic analysis can reveal:

JurisPro’s President Jim Robinson, Esq. will be one of the keynote presenters at SEAK, Inc.’s upcoming 17th Annual National Expert Witness Conference on Cape Cod June 19-20, 2008. Mr. Robinson’s topic will be “How Lawyers Dig up Dirt on Expert Witnesses.”

SEAK’s conference is very highly regarded and features superb, practical information presented by judges, attorneys, experts and trial consultants.

Continuing education credit is available for accident reconstructionists, arborists, attorneys, accountants, appraisers, engineers, life care planners, nurses, physicians, and psychologists.

In Preference Defense: New Challenges Facing Creditors bankruptcy expert witness Dorman Wood writes:

At its inception, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was hailed as the most sweeping revision of the bankruptcy law in more than two decades.

While the majority of the revisions under BPACPA were aimed at individual bankruptcy reform, several touched on commercial bankruptcy reform.

In Personal Emergency Preparedness: How Prepared Are You? banking expert witness Catherine Ghiglieri writes that since 9/11 the banking industry has focused on emergency preparedness in dealing with potential terrorist threats or natural disasters. Very few have stopped to consider their personal emergency preparedness. Ghiglieri suggests putting:

All important documents or copies of them, in a binder that can be easily taken out of the home in case of a quick evacuation. Our binders are bright red, clearly marked with “Emergency Binder,” and are placed in an easily accessible location, such as a bookcase or closet near the door. In the event of an impending hurricane, these binders can easily be placed in a large zip-lock bag to assure water-tightness if an evacuation is mandated or the roof leaks. A selection of baby and marriage pictures or anything else that is precious should also be assembled and located with the emergency binders.

More to come from Catherine Ghiglieri, former Texas Banking Commissioner and President of Ghiglieri & Company, a bank consulting firm www.ghiglieri.com.

Appraiser Vickie Adams tells us when a gems & jewelry expert witness is needed and describes the process:

Marriage or business dissolution looks to an appraisal for equitable division.

Civil and criminal litigation requires an independent appraisal to report the dollar value of damage.

Antiques, art, & collectibles appraisal expert witnesses are knowledgeable regarding property types and their relevant markets. These expert witnesses have prepared themselves to identify and value personal property. When hiring such an expert, look for one with the special knowledge, skill, experience, training, and education in valuation. They will be able to provide reports and expert testimony on art valuation, antique furniture, coins, metalware, sports collectibles and more.

Expert Suites has created a new concept in commercial office space and business services. This brand new facility is tailored to meet the unique needs of mediators, trial and jury consultants, Expert Witnesses and other legal industry providers such as court reporters, video deposition reporters, and attorneys who may be seeking specialized office space designed with the needs of legal industry.

Expert Suites offers:

• Services geared toward completing “busy-work” so clients can devote more time to building their business and practicing their craft

Business valuation expert witness Dr. Kamin bases his philosophy on the teaching of Professor Merton Miller of the University of Chicago Graduate School of Business, 1990 Nobel Prize in economics for his pioneering work in the economic theory of valuation and corporate finance. Dr. Kamin writes:

Professor Miller’s teaching has imbued the entire field of business valuation for both public and private companies. His teaching led to the phrase “free cash flow” to describe the source of the economic benefit to shareholders that is the basis for attribution of value to share ownership. Free cash flow is the cash withdrawable from a business after allowing for capital needed for reinvestment to support the firm’s growth opportunities.

Professor Miller’s premise is that the only economically rational basis for valuing a business enterprise is the aggregate current value of all future free cash flows distributable by the firm. Each future year’s cash flow has a present price per dollar that reflects the time-value of money and the compensation for risk bearing to the future date. The economically rational value of the business firm is then the price per dollar of each year’s future free cash flow multiplied by the number of dollars of future free cash flow summed up over all the future years in which free cash flow is expected to be generated.