Litigation Support

Advent offers litigation support services in areas of business and intangible asset valuation, economic damages, income analysis, and other financial forensics. Advent's highly qualified experts have testified in both State and Federal Courts, and before Arbitration Boards and Mediators.

Economic Damages

Economic damage estimates are prepared in connection with cases involving individuals, businesses or other organizations. Our services in this area include both the calculation of estimated damages and the rebuttal/critique of an opposing expert’s calculations of damages. While often retained jointly by both parties, Advent also provides economic damages services to one party to the dispute.

Economic damages for businesses include those related to lost profits, lost value, lost opportunity, increased costs. For individuals, Advent often measures economic damages in terms of lost income, wages, benefits and/or pension value. Advent works closely with the client and Counsel to understand the facts and issues of the case to appropriately estimate lost profits or economic damages. The circumstances of each case are different, and sometimes attorneys engage us to simply help with discovery and settlement or to rebut an expert report that has been filed with the court. 

Types of damages cases we have worked on include:

• Lost profits from storm damage for insurance claims.
• Damages associated with contract disputes, ranging from employees theft of trade secrets to abrogated business sale transactions.
• Wrongful termination and malpractice litigation.

Appraisal Review

In addition to Advent's business valuation or economic damages analysis, a client and/or counsel may retain Advent to ascertain whether the opposition's valuation or damages report is accurate and supportable. It only takes a few errors, omissions or intentional bias to derive a materially erroneous conclusion of value. Consequently our reviews are often an essential aspect of our litigation support, often framing the key value issues missed, or identifying weak and/or misleading analysis.

We have provided an example review of a small business for purposes of marital dissolution to give an example of why "cheap" appraisals by inexperienced appraisers are actually quite costly. In this instance, the business was grossly overvalued.

If you are interested in how our Economic Damages Services can benefit your company, please call us at 845.567.0900 or request more information.