Category: Accounting Expert Witness
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Accounting Expert Witness’ Testimony About Misleading Financial Records Admitted
In this alleged fraudulent transfer case, Plaintiff Shuler Drilling Company, LLC (“Shuler”) obtained a judgment in the Western District of Arkansas against Southern Management, a company wholly owned by the Disiere Defendants. After some contentious, post-judgment discovery disputes in Arkansas, Shuler brought the present action under the Texas Uniform Fraudulent Transfer Act (“TUFTA”) against the…
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Accounting Expert Witness’ Testimony About the Deduction of Expenses and Other Lease Burdens Excluded
This case arises out of an oil and gas royalty dispute between Flat River Farms and MRC Energy Company. Plaintiffs produced a one-page expert report prepared by George E. McGovern III, CPA, a certified public accountant (“CPA”). Based on his expert report, McGovern was tasked with determining if Plaintiffs’ royalties as determined by the Lease were…
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Marketing Expert Witness’ Testimony on Statutory Damages Rejected
Plaintiff Amy Lee Sullivan is suing Defendant Flora, Inc. for copyright infringement of 33 illustrations that she created for Flora as part of two advertising campaigns. Sullivan offered the testimony of a financial evaluation expert, Dennis Kleinheinz. Sullivan wanted to present Kleinheinz’s calculations on Flora’s profits but the Court reserved the ruling on Sullivan’s motion…
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Accounting Expert Witness’ Report Indicated Missing Data Points
Between 1983 and 1986, MSI, a music company solely owned by Nealy, engaged a number of recording artists and created a catalog of popular sound recordings and musical compositions. MSI was administratively dissolved in 1986, and Nealy was arrested and later sentenced to a twenty (20) year prison term in late 1988. During Nealy’s first…
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Accounting Expert Witness Barred from Testifying because He Used Simple Addition to Derive Infringing Sales
Plaintiff, a prominent telecommunications service provider, has established the well-known marks “LIGHTSPEED” and “LIGHTSPEED VOICE” in connection with its telecommunications services. When Defendant opened a business called LIGHTSPEED CONSTRUCTION GROUP, Plaintiff alleged that the mark was nearly identical to its marks in connection with the offering of confusingly similar telecommunications services. Plaintiff added that such…
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Accounting Expert Witness’ Analysis of Costs and Markups Admitted
The Trade Group’s (“TTG”) is a full-service event marketing and creative design firm well known for its award-winning designs and client-centered service mentality. BTC Media, LLC (“BTCM”), a Bitcoin and blockchain media company approached TTG about managing, planning, and producing Bitcoin 2021, the world’s largest bitcoin conference held in Miami, Florida. After a successful Bitcoin…
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Defendant’s Objections against the Accounting Expert Witness’ Damages Calculations Overruled
A district judge in North Carolina refused to exclude the accounting expert witness’ calculations of the Defendants’ revenues and profits earned in connection with their sales. Plaintiff and Defendants sell heat transfer systems to industrial customers. In 2016, Plaintiff sued Defendants for trade secret misappropriation, breach of contract, unfair competition, and patent claims. That litigation…
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Accounting Expert Witness’ Opinions on Due Diligence Procedures Admitted
A district judge in Mississippi held that the accounting expert witness was more than qualified to testify about the due diligence requirements in the stock purchase agreement in question. Facts of the case: Casey Morgan (“Morgan”) and Jimmy Ward (“Ward”) (collectively “Plaintiffs”) previously owned and operated Bigfoot Land Services, Inc. (“Bigfoot” or “the company”), an…
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Accounting Expert Witness Testimony Found to Lack Understanding of the Type of Business at Issue
James Swain Rieves, who operated Platinum Vapor, LLC, doing business as Cloud 9 Hemp faced legal trouble when the Town of Smyrna Police Department (hereinafter “SPD”) discovered the sale of Cannabidiol (CBD) products by the business in May 2017. The Smyrna Police Departmentraided Cloud 9’s premises and seized tens of thousands of dollars ininventory, along…
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Accounting Expert Witness’ Two-Party Market Analysis Admitted
Hayward Industries, Inc. (the Plaintiff), a company in the pool industry, filed a complaint against competitors (the Defendants) over the sale of aftermarket replacement salt cells for use in Plaintiff’s chlorine generator systems. Chlorine generators, also known as “salt cell systems,” convert dissolved salt into chlorine to sanitize pools. Chlorine generator systems replace the need…