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Legal and Financial Aspects of Lost Profits Damages in Commercial Litigation

Learn how lost profits damages are calculated and how to effectively use an expert.

Lost profits can be one of the most difficult types of damages to properly address in disputes. In commercial litigation, financial experts may be employed to help assess and present complex financial analyses. However, it may be valuable for counsel to gain an improved understanding of lost profit damages calculations. This can help counsel and their client work efficiently and effectively with their expert witness, evaluate and cross-examine opposing experts, best identify the key information that they would need from opposing parties, and prepare their own determinations for timely case risk and return assessment. This topic will help those responsible for developing claims, as well as those responsible for responding to claim requests, to understand the general approach and methodologies used to determine lost profit damages.

83 minutes
Certificate of Completion
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Economic Damages Are the Economic Harm Suffered by One Entity Due to the Wrongful Act of Another
  • Goals of Economic Damage Claims Include (I) Returning the Damaged Party to But-for Position, and (II) Preventing the Alleged Wrongdoer From Benefitting

Types of Damages

  • Compensatory vs. Punitive
  • General vs. Consequential
  • Expectation, Reliance, and Restitution Damages for Breach of Contract Claims
  • Other Types of Economic Damages

Elements of Lost Profits Cases

  • Proximate Cause
  • Foreseeability
  • Reasonable Certainty
  • Duty to Mitigate

Approach to Measuring Lost Profits Damages

  • Three Column Approach
  • Important Considerations When Performing Lost Profits Calculations
  • Potential Lost Profit Calculation Pitfalls
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on July 30, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.25
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.25 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Dayna Anderson

Dayna Anderson

Kenrich Group LLC

  • Vice President in the Chicago office of The Kenrich Group LLC
  • Financial damages litigation consultant, specializing in commercial litigation matters involving breach of contract, forensic accounting, and construction cost overruns
  • Over 15 years of experience in damage analysis
  • Provided expert testimony in various settings including depositions, mediations, and arbitrations
  • Certified Management Accountant
  • Certified Fraud Examiner
  • B.S. degree in general engineering, University of Illinois
  • Can be contacted at [email protected]
David Bones

David Bones

Kenrich Group

  • Vice President in the Phoenix office of The Kenrich Group LLC
  • Financial damages litigation consultant, specializing in commercial litigation, valuation, forensic accounting, construction, government contracts, and bankruptcy matters
  • Over 16 years of experience in damage analysis with an emphasis on lost profits analysis, business valuation, construction cost accounting, and productivity analysis
  • Provided expert testimony in various settings including depositions, arbitrations, jury trials, and mediations
  • Certified Valuation Analyst
  • B.A. degree in finance, Arizona State University; University of California, Los Angeles, Accounting Certificate
  • Can be contacted at [email protected]
Joe Seder

Joe Seder

Kenrich Group LLC

  • Vice President in the Chicago office of The Kenrich Group LLC
  • Financial damages litigation consultant, specializing in construction, insurance, and government contracts
  • Over 19 years of experience in damage analysis with an emphasis on the evaluation of financial damages, including calculation of lost profits
  • Provided expert testimony in various settings including depositions, mediations, and arbitrations
  • Certified Fraud Examiner
  • M.B.A. degree, University of Chicago Booth School of Business; B.S. degree in industrial engineering and management science, Northwestern University
  • Can be contacted at [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • MP3 Downloads
  • Course Manuals
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  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

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  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 405805
Published 2019
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