Calling All Lawyers! Part 2

In Part 1 of this series, we discussed what Rosenfarb LLC can offer our lawyer clients as Consulting Experts. Part 2 will expand on our role as Testifying Experts.

As Part 1 explained, when our opinions as Consulting Experts are consistent with the lawyer’s litigation strategy, which means it’s consistent with the client’s objectives, then we may be retained as Testifying Experts. As testifying experts, all of our work is subject to discovery, which means that all of the documents and information that we rely upon and consider in providing our opinion, is available to our client’s adversary (the other side).

As testifying experts, generally the first task to be completed is the preparation of a written report expressing our opinions. The report identifies all of the data and documents that we relied upon and considered in coming to our conclusions. It details the analysis and the calculations we performed regarding the accounting issues and damages. Damages are the amount that would make the plaintiff whole; the additional amount that the plaintiff would possess had there been no wrongdoing by the defendant. Our report, which is intended to be compelling and convincing – and supported with sound evidence – is distributed to the opposing side, who then issues their own report, a rebuttal report.

Generally, after all the reports are completed, the experts are deposed, which is the taking of testimony under oath. The experts are asked questions about the reports, and provide testimony explaining how the report was assembled and how the calculations were made. The deposition process gives each side an opportunity to clearly understand the other side’s position on the amounts at stake and the rationale for the calculations. Sometimes the deposition is used to obtain “sound bites” for the other side to use at trial.

At trial, the experts testify about what’s in their reports; and are cross-examined by opposing counsel. It’s up to a judge or jury to decide which expert has the greater reliability and credibility, and find for one party’s perspective of the damages, the other party’s perspective, or sometimes, for neither side. The judge or jury may decide somewhere in-between or outside both sides. There’s very little limit to what the judge or jury can do.

As financial damages experts, we at Rosenfarb LLC testify about the amount of money at stake – who owes how much to whom and why. We are expert witnesses and get to testify about our opinions. Fact witnesses are prohibited from offering opinions and testify about facts:

• Who did what wrong
• Why he/she did it wrong
• Who breached which agreement
• Why they breached the agreement
• How disastrous this breach was
• How bad the other side was
• The cause of the money that was lost
• The money that somebody was entitled to
• The amount of money that somebody should pay.

The financial damages expert testifies about the amount of monetary damages. We have no opinion on whether or not what is alleged as wrong was actually done. We have no opinion as to whether there was, or was not, a breach of an agreement, or who should be subject to compensation. We assume that what’s alleged is true and calculate the amount of money our clients are entitled to receive or are obligated to pay.

If you are a litigator in need of a consulting or testifying expert, we would be happy to speak with you and discuss your case, free of charge. Or, feel free to leave us a comment in the “Leave a Reply” box below.

At Rosenfarb LLC we produce well-supported, well-reasoned and well-communicated damage calculations that withstand the rigors of litigation. We are a firm of forensic accounting and valuation experts. We understand business, have keen insights and always connect the dots. We understand the litigation process. We frame the issues simply and in alignment with the litigation strategy. We use logic to support our opinions, while creating compelling stories. We are sincere, professional and credible. We are accounting experts with legal acumen.

Rosenfarb LLC
Phone: (855) 415-1100
Info@Rosenfarb.com
www.rosenfarb.com