Weil Roman L. - Litigation Services Handbook

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Library of Congress Cataloging-in-Publication Data:

ISBN 978-1-119-16632-0 (Hardcover)
ISBN 978-1-119-36316-3 (ePDF)
ISBN 978-1-119-36318-7 (ePub)

A real patriot is the fellow who gets a parking ticket and rejoices that the system works.

Bill Vaughan (columnist and author, 19461977)

In the world of American business, few may feel the patriotic spirit in the face of a litigation and enforcement environment that increasingly saps the financial and human resources of the unfortunates that find themselves embroiled in the process. The debate over whether the system really works, and for whom, would likely be a long one, colored by the individual experience of the debaters. Corporations in America find themselves constantly participating in the process.

The litigation services practice remains a growth business for financial experts as the complexity and the global nature of business disputes continue to expand. The Litigation Services Handbook has for more than 25 years, through five previous editions and more than 20 annual supplements, offered a comprehensive guide for economists, accountants, and litigators involved with the analytic and damages issues in commercial litigation. It has enjoyed critical success as its revised editions have served to guide readers and practitioners in the litigation services industry.

We note several milestones wrapped into the sixth edition: Elizabeth A. Evans of FTI Consulting has joined our editorial team; her academic training and many years of experience have contributed to the quality of earlier editions as author and to this edition, as well, as editor. This is the final edition for editor Daniel G. Lentz, who has coauthored or shepherded many chapters through the last two editions. We extend special thanks to his firm, Ernst & Young, LLP, for underwriting the costs involved to bring the handbook from submitted drafts to published volume (a long and winding road). Last, we extend a (possible) fond farewell and our gratitude to Roman L. Weil, who plans to retire from the helm of lead editor for the Litigation Services Handbook . He joined Peter Frank and Michael Wagner, who conceived of this book, more than 25 years ago. Throughout every edition, he has driven the authors and his fellow editors to ensure clarity, accuracy, completeness, and avoidance of his pet peeves: passive verbs, the word may, and certain qualifying -ly adverbs.

This edition includes new chapters that reflect the changing business environment and related litigation, incorporates a fresh look at existing content to this edition, and retains the highest-quality work from predecessor authors and editions to ensure inclusion of the most current and relevant information on each topic. Each of the 44 chapters in the sixth edition has authorsaccountants, economists, academics, and litigatorsexpert in their fields. Together, these chapters explain the financial theory behind the demonstrated practical application and clarify the relevant case law, regulation, and statutes.

Organization and Writing. This edition comprises seven sections, each addressing a different practice area or set of functional tools.

• , The Litigation Environment (3 chapters), discusses the civil court system, principles and techniques of alternative dispute resolution, and how CPAs and economists function in the litigation environment, including a discussion on Daubert challenges and the art of testifying.
• , Developing a Damages Analysis (11 chapters), addresses the components of damages calculations: damages theories and modeling, estimating the cost of capital, business valuation, business interruption claims, lost earnings of individuals , and class certification issues.
• , Litigation Tools and Techniques (1 chapter), explains data management in regulatory and litigation environments in an entirely revised chapter incorporating the latest information from a rapidly changing subject area.
• , Ancillary Issues in Damages Matters (3 chapters), discusses prejudgment interest, punitive damages, and tax treatment of damagesall issues that are ancillary to the underlying damages claims and litigation.
• , Civil Litigation (21 chapters), addresses specific types of commercial cases, categorized into five subsections:
  1. Intellectual Property (5 chapters) discusses the complexities of this vexing area of litigation, and describes the process of conducting royalty audits.
  2. Ownership and Business Failure (3 chapters) guides practitioners in how financial experts contribute to matters involving growth and decline or failure of businesses.
  3. Regulatory Litigation (6 chapters) deals with a variety of matters related to securities, monitorships, antitrust, and federal contracts.
  4. Construction and Real Property Disputes (2 chapters) provides insights on litigation dealing with property issues.
  5. Other Civil Litigation (5 chapters) addresses accountant liability, executive compensation, non-compete covenants, employment litigation, and fair lending litigation.
• , Criminal Matters and Investigations (4 chapters), helps practitioners understand the unique issues and skill sets required to serve as an expert in the investigations environment.