Broadcast Date: Tuesday, January 26, 2021
from 12:00 pm to 2:00 pm (ET)

Overview:

The COVID-19 pandemic has brought an immense economic toll on businesses across the globe. Specifically, it prompted a spike in the number of lost profit damages lawsuits as businesses seek to recover lost profits because of pandemic-related damages. However, although there are various damage calculation theories available, pandemic-related lost profit claims can be taxing and challenging. Thus, businesses and their counsel must always exercise diligence in documenting their revenues and profits. They must also be abreast of emerging regulatory developments to avoid pitfalls.

Join a panel of key thought leaders and distinguished professionals assembled by The Knowledge Group as they present the audience with a comprehensive discussion of the recent trends and updates in lost profit damages litigation. Speakers will also share effective tools for damage claims calculations and best practices in handling this type of lawsuit during the COVID-19 pandemic.

This LIVE Webcast will discuss the following:

  • Lost Profit Damages: Trends and Statistics
  • Notable Cases and Court Rulings
  • COVID-19 Implications
  • Risk Issues and Challenges
  • Tools and Tips in Calculating Lost Profits
  • Outlook

Learning Objectives:

  • Recognize the key points when projecting revenue during the COVID-19 pandemic
  • Identify the considerations for incremental cost and revenue projection adjustments during the COVID-19 pandemic
  • Determine the implications of COVID-19 in damage analysis
  • Recognize the changes in the role of damage experts in COVID-related litigation

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast (CLE); Group-Internet Based

 

Prerequisite:

General knowledge of commercial litigation

 

Course Code:

149333

 

NASBA Field of Study:

Accounting – Technical

 

NY Category of CLE Credit:

Areas of Professional Practice

 

Total Credits:

2.0 CLE

2.0 CPE (Not eligible for QAS (On-demand) CPE credits)

Speaker Panel:

Matt Germane, MBA, Principal
Lone Peak Valuation Group

Mr. Germane is a Shareholder of the Lone Peak Valuation Group and has over 15 years of litigation support and business valuation experience. Mr. Germane’s primary focus lies in measuring and presenting economic damages in complex commercial litigation matters, including lost profits, reasonable royalty, unjust enrichment, among others.  In addition, Mr. Germane has experience and training in business valuation. His experience includes expert testimony, financial analysis, economic research, and financial modeling in the automobile, construction, network marketing, high technology, and electronics industries.

Zachery Baldwin, CPA, Manager
Lone Peak Valuation Group

Mr. Baldwin is a Manager with Lone Peak Valuation Group and has been involved in a wide variety of commercial litigation cases and business valuation engagements.  His litigation experience includes intellectual property, breach of contract, theft of trade secrets, natural resources, and multi-level marketing firms among others.

Mr. Baldwin is a Certified Public Accountant and has a bachelors and master’s degree in accounting from Arizona State University.

Prior to working for Lone Peak Mr. Baldwin worked in the Manhattan office of PricewaterhouseCoopers, where he focused on broker dealers and other banking and capital market customers.

Will Boesen, CFA, Manager
Lone Peak Valuation Group

Mr. Boesen is a Manager with Lone Peak Valuation Group and has been involved in a wide variety of commercial litigation cases and business valuation engagements. His litigation experience includes cases involving intellectual property, breach of contract, and natural resources, among others.

Prior to working with Lone Peak, Mr. Boesen worked as a valuation consultant for Duff & Phelps Corporation. His work there involved performing valuations for financial reporting, tax, and transaction consulting purposes.

Eric N. Macey, Partner
Novack and Macey LLP

Eric N. Macey is a founding partner of Novack and Macey LLP, a sophisticated business litigation boutique. He has extensive trial experience in state and federal courts throughout the country, as well as in various alternative dispute resolution settings. His clients consist of a wide range of business corporations and institutions, investment ventures, closely-held companies, partnerships and individuals. Mr. Macey is consistently rated as one of the top 100 Lawyers in Illinois per Super Lawyers, is recognized by Chambers USA for commercial litigation, is named on Best Lawyers Magazine’s “Best Lawyers in America.”

Agenda:

SEGMENT 1:

Matt Germane, MBAPrincipal

Lone Peak Valuation Group

  • Projecting Revenue in COVID years
    • Know your market and industry.
      • How did the industry perform during COVID?
      • What is expected in the future?
    • Selecting the appropriate method to project revenue.
    • Understanding what economic factors drive revenue.

SEGMENT 2:

Zachery Baldwin, CPAManager

Lone Peak Valuation Group

  • Incremental cost consideration during COIVD
    • PPP Loans
    • Additional costs companies incur to stay COVID compliant
    • Costs savings due to COVID
  • Adjustments needed in Revenue projections due to COVID
  • Projecting using the yardstick method during COVID
    • Does the yardstick already consider COVID Adjustments?

SEGMENT 3:

Will Boesen, CFAManager

Lone Peak Valuation Group

  • Pre-COVID analysis in a COVID world
    • Ex Post vs. Ex Ante damages
    • The Book of Wisdom
    • COVID-19 in valuation – known or knowable
  • Accounting for COVID-19 as an intervening factor
  • Discount rates and COVID-19

SEGMENT 4:

Eric N. MaceyPartner

Novack and Macey LLP

  • Where have all the trials gone and the impact on damages experts?
  • Coronavirus Litigation
    • Employment
    • Class Actions
    • Food & Beverage
    • Real Estate
    • Bankruptcy
    • Insurance
    • Health Care
    • Banking/PPP
    • Consumer Protection
  • The Changing Role of the Expert
  • The Basics Remain the Same The Changing Role of Experts
  • The Basics Remain the Same
    • The dictates of Daubert and  Kumho Tire
    • Various methodologies accepted
    • Garbage in/garbage out – the issue of using accurate inputs
    • Do accounting principles matter?
    • Relying on client data

Date & Time:

Tuesday, January 26, 2021

12:00 pm to 2:00 pm (ET)

Who Should Attend:

  • Litigation Attorneys
  • Damage Experts
  • General Counsel
  • Forensic Accountants
  • Business Executives
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SPEAKERS

Matt Germane, MBAPrincipal
Lone Peak Valuation Group
Zachery Baldwin, CPAManager
Lone Peak Valuation Group
Will Boesen, CFAManager
Lone Peak Valuation Group
Eric N. MaceyPartner
Novack and Macey LLP

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