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Lost Profit Damages: Lessons Learned from 10 Years of Motions to Exclude
Business Valuation Resources, March 2009, Pages: 90
In March 1999 The U.S. Supreme Court's Kumho Tire decision extended the Daubert admissibility criteria to non-scientific expert testimony. As we mark the 10th anniversary, motions to exclude expert witnesses are on the rise, and the discovery process has become more perilous than ever. From 2000 through 2007, Daubert challenges to all types of expert witnesses have increased almost 200%, and challenges to financial experts have more than doubled, according to the 2000-2007 Financial Expert Witness Daubert Challenge Study by PricewaterhouseCooopers. Clearly, discovery has become a topic of discussion no expert can ignore - particularly since the full weight of electronic evidence rules have taken effect. At the same time, Daubert and other motions to exclude financial experts in lost profits cases have never been as prevalent.How does an expert balance the burgeoning discovery rules with the risks of being excluded? The collection of cases excluding financial experts provides significant guidance for both new and experienced experts on their role in the judicial process. Nancy Fannon and Jonathan Dunitz discuss the best ways to protect yourself from Daubert challenges and the lessons learned from nine years of excluded experts in Lost Profits cases.
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