Craig A. Wolson acts as a Structured Finance and Derivatives Expert Witness and Consultant. He specializes in cases involving credit default swaps (CDS), collateralized debt obligations (CDOs), mortgage-backed securities (MBS) and other types of derivatives and securities.
Background Experience Includes: Acting on behalf of 40,000 investors in $1.6 billion class action suit against bankrupt sponsor of special purpose issuer of notes secured by notes issued by CDO and credit default swaps with sponsor; acting on behalf of class led by two major pension funds against a major bank and numerous large underwriters involving mortgage-backed securities issued by several vehices established by the bank, and securities issued by the bank; acting on behalf of large investment bank defendant in arbitration proceeding brought by another large investment bank involving nine CDOS established by defendant; acting on behalf of large bank that had invested in now-worthless notes issued by SIV established by defendant banks; acting on behalf of large bank against another large bank that had sold the former CDOs and CDS.
Jo-Anne Daniels has been a International Trade and Transportation Industry consultant for over 25 years. She is the principal and founder of Trade Resources & Associates, a consulting firm that specializes in cross-border transactions, trade compliance, and transportation management.
Ms. Daniels has been a Licensed Customs Broker since 1987 and has experience leading global trade compliance and transportation for multinational corporations, such as, Micron Technology, Aviza, Inc., Flextronics (formerly Solectron), and Applied Materials. She is a frequent invited speaker for trade associations and logistics organizations. Ms. Daniels authored several industry publications and is the past President of the Professional Association of Exporters and Importers.
Litigation Support - Ms. Daniels is an experienced expert witness and has provided expert witness litigation services to both corporations and individuals. She is a qualified to provide independent expert opinions, expert reports and declarations, and expert witness testimony at deposition in the matter of International Trade, U.S. Customs laws, U.S. Export Administration, and International Traffic in Arms Regulation and practice.
Areas of Expertise:
Customs and Export Compliance
Cargo and Shipping
Freight Forwarding Ocean Cargo Logistics
Reverse Logistics and Warehousing
Planning and Execution of the Movement of Goods (Domestic / International)
Movement of Goods via Trucking and other Transportation Modalities
SUMAC made several key regulatory changes as compared to the North American Free Trade Agreement (NAFTA) that affect compliance and liability. Learning to navigate and master these new provisions are the key to complying with the regulations, minimizing liability for non-compliance, and succeeding in global trade.
Eric Kimberling, MBA, is one of the most recognized and respected independent Enterprise Resource Planning (ERP) systems expert in the world, giving 100% unbiased advice to clients for more than 20 years. Mr. Kimberling has been quoted in hundreds of articles, including the Wall Street Journal, CIO Magazine and Fortune. He provides keynote speeches at industry conferences and universities worldwide, and continually provides industry thought leadership through his YouTube channel, along with blogs, podcasts, webinars. He is the author of multiple acclaimed books, including, “Lessons from 1,000 ERP Implementations,” “Guide to Successful Digital Transformations,” and others.
Throughout his career, Mr. Kimberling has been called upon to investigate the feasibility of litigation, provide witness testimony and build background reporting for the industry’s highest-profile ERP lawsuits, Waste Management v. SAP, Lyons Magnus, Inc. v. Fujitsu America, Inc.; Partner Services, Inc v. Avanade; Kathy Pishghadamian v. Nicor Gas; Flotek Industries, Inc. v. CD Group, Inc.; Midwest Tape LLC v. ESR Associates, Inc.; and Whaley Food Service Repairs v. Epicor to name a few. Eric is actively involved in implementations and project recoveries, giving him a unique and up-to-date experience with modern enterprise technologies.
Areas of Expertise:
Organizational Change Management
Sales Cycle Fraud and Misrepresentation
Project Team Staffing
Software Schedule Delays
Eric holds an MBA with an emphasis in operational strategy and a Bachelor of Science in business administration from Daniels College of Business at the University of Denver. He is also Six Sigma certified and a certified practitioner of multiple ERP solutions, including SAP, Oracle, Microsoft Dynamics, Epicor and Infor, among others. He has won numerous industry awards for his experience and contributions, including Supply Chain Pro to Know and Best Independent ERP Blog from ERP Focus.
I have been involved with Microsoft Dynamics implementations for nearly 20 years now. I have also spent the last decade providing Microsoft Dynamics expert witness testimony in implementation failures and lawsuits.
Michael L. Scruggs, FCA, ACAS, MAAA is an Actuary practicing in the Property and Casualty Insurance space for over 40 years. He gained industry experience working for three insurance companies from1976 to 1987. After that, Mr. Scruggs consulted through two "big-eight" accounting firms until he established his own consulting practice in 1991.
Mr. Scruggs has workedin a variety of fieldsincluding Reinsurance, Actuarial, Information System / Information Technology, E-Commerce, Data Mining, Mergers & Acquisitions, Management Consulting, and Business Process Outsourcing.
His many accomplishments include analyzing loss and loss adjustment expense reserves for regulatory authorities, insurance companies, self-funded non-insurance entities (WC + GL), including a multi-billion, domestic and international, direct and reinsured (inward and outward) book of both traditional and special risks.Clients have also included the Federal Bureau of Investigation and the Office of the United States Attorney.
Areas of Expertise:
Insurance Administration Systems
Litigation Support: As a Property and Casualty Insurance Actuary, Mr. Scruggs has been retained in over 30 cases around the country. He provides a broad range of litigation support services to attorneys representing both plaintiff and defendant. Mr. Scruggs is comfortable providing expert witness services to parties, attorneys, and triers of fact.
Degrees / Certifications:
Fellow of the Conference of Consulting Actuaries (2003 – Present)
Associate of the Casualty Actuarial Society (1989 – Present)
Member of the American Academy of Actuaries (1989 – Present)
Rod Tasker specializes in Payment Services, Transaction Banking, and e-Commerce. He has over 20 years of experience working for major banks in strategic and business planning and cradle to grave product management, including business cases, feasibility, piloting, commercialization, and retirement. Mr. Tasker consults in strategic management and innovative solution delivery in the banking and finance industry. His achievements in Australia and internationally include: - Leading a team of 25 people in developing an internet payment service - Developing an enterprise Sales and Service architecture for a major bank - Developing an international payments business architecture & operations strategy for a major bank - Obtaining consensus amongst a consortium of 15 global banks for the strategic vision and plan for implementing B2B international ePayments - Developing a variety of e-Banking and e-Payment products and services - Building a payments business from start-up as CEO
Areas of Expertise:
Product Development / Product Management
Business and Strategy Formulation
Consulting Services - Mr. Tasker is engaged by companies that offer payment services as products or services, or for whom payments are "strategic" or "core," for example, insurance companies, exchanges, retailers, and investors wanting to evaluate payment business acquisitions, mergers, or funding opportunities. His services include:
Program and Portfolio Management
Ventures / Mergers & Acquisitions
Satellite Media Telecommunication Valuation Expert Witness Armand Musey
J. Armand Musey, CFA, JD/MBA, founder and president of Summit Ridge Group, LLC, provides expert witness testimony for the Telecom, Media, and Satellite Industries. Mr. Musey is a highly regarded financial analyst with expertise in Asset Valuation, Business Valuation, Financial Analysis of Economic Damages, and Financial Scenario Analysis.
Mr. Musey also has significant experience in corporate governance and investment research practices. He offers litigation support for clients with complex financial analysis or valuation projects. His background also includes Wall Street research methods and practices on behalf of defendants in insider trading cases.
Mr. Musey's industry knowledge, financial expertise, and extensive writing experience allow him to expediently craft well-argued independent written direct testimony documents that withstand scrutiny in depositions and during courtroom cross-examination. Prior expert witness experience and years of communicating with investors of all types have honed his skills at orally communicating his industry knowledge and financial expertise. Moreover, Mr. Musey's legal background facilitates his ability to communicate with legal professionals, understand the legal relevance of case facts, and efficiently read legal documents.
Areas of Expertise Include:
Industry and Business
FCC Spectrum Licenses (including orbital slot valuation and wireless spectrum valuation)
Satellite Communications Industry and Related Media and Telecommunications Topics
Financial and Economic
Financial Analysis of Economic Damages
Financial Scenario Analysis
Investment Research Practices - including accepted used of information sources and relationships with company management
Dr. Stan V. Smith is a nationally renowned Economist and Financial Consultant providing analysis in simple terms that any trier-of-fact can understand. As an expert consultant to plaintiff and defense attorneys representing clients in Federal State courts, he provides testimony and litigation support services in evaluating damages.
Dr. Smith provides Analysis, Testimony, and Litigation Support Services in Evaluating Damages for plaintiff and defense attorneys representing clients in federal and state courts nationwide. His concept of Hedonic Damages is acknowledged by judges, attorneys, and legal journalists as one of the most innovative tort concepts in the last 30 years. He has been interviewed and published in dozens of respected professional journals. Dr. Smith has assisted in the successful resolution of thousands of lawsuits on behalf of clients that include many dozens of the nation's largest law firms, the U.S. Department of Justice, as well as thousands of other prominent plaintiff and defense law firms in almost every state.
The increased use of economic experts in commercial damage cases, as well as in personal injury and wrongful death cases, has resulted in the emergence of a group of experts who offer economic services but are unqualified and ill-trained in economics.
EJ Janik, CPA, CFF, CFE is a Certified Public Accountant with 37 years of professional experience. He specializes in financial audits, compilations and reviews, consulting for commercial litigation, antitrust matters, engineering and construction matters, real estate, and bankruptcy / business reorganizations matters. Mr. Janik holds a Master of Science in Accounting from Louisiana State University and a Bachelor of Commerce from Rice University. He is a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.
Mr. Janik has provided over 150 financial audits and consulted in over 685 business disputes. He has provided expert testimony in over 80 matters including trial testimony in 48 trials or hearings in 8 states. Mr. Janik's accounting services include Damages/Lost Profit analysis, Forensic Accounting, Fraud Investigations, Fact Finding, Financial Analysis, and Expert Witness Testimony when necessary.
Debt & Capital Analyses
Mergers & Acquisitions
Royalties, Commissions, Income
White Collar Crimes
Mr. Janik is also uniquely qualified to measure construction claims and damages. With over 11 years of construction experience, he has accumulated over 13,000 Engineering and Construction (E&C) auditing hours, 10,000 E&C consulting hours, and 15,000 E&C supervised hours.
Rose Porterfield Group (RPG) has over 30 years of experience providing Business Performance and Human Resource services. As experts in human behavior, we provide litigation support strategy and testimony for attorneys and corporations. Offering unbiased, detailed, and objective expert opinion on all aspects of human behavior in the workplace, we can help determine the facts, motivations, and human factors involved in the case. Forensic and Expert Testimony Cases Include:
Robyn W. Porterfield, PhD - Managing Principal at RPG, spent over ten years in sales and marketing prior to completing her PhD in Industrial Psychology. While completing her PhD, Dr. Porterfield served as Director of Client Services for a Texas-based on-line psychological testing firm, consulting to management on such issues as individual and team fit, conflict resolution, hiring, coaching, and management succession planning. As a consultant,
Dr. Porterfield has assessed executives in such diverse industries as financial management, food service, telecommunications and retail. For five years Robyn and Bob co-wrote a column for the Dallas Business Journal titled, C-Level Coach. Robyn is also a professional mediator and currently mediates for Dispute Resolution Services of Tarrant County, Texas.
Robert G. Rose, PhD, Principal at RPG, received his PhD from Florida State University. Since 1976 he has served as consultant to organizations in virtually every industry including health care, retail, IT services, manufacturing, construction, aviation, and many others. In his over 30 years as a consultant,
Dr. Rose has encountered virtually every problem that an organization can experience, and has seen that good teamwork - from hiring to development - always benefits both the individual and the company. Bob is the author of numerous articles on communication, crisis handling, and conceptualizing purpose and culture within organizations, and his books on consulting are required reading by major corporations.
In this article we are speaking primarily to men in business management roles. We are not saying you are a harasser. On the contrary, we’re aware that more than likely, you are not a harasser, but your position and gender put you in the position to come across as one
As an employment attorney, or perhaps as General Counsel for your organization, you have probably been fielding more and more questions about bullying in the workplace-we certainly have. While bullying isn't illegal - yet - you also probably know that it costs a lot in terms of its effect on production. Plus, you know it's not right-not really. So, what's the right approach? Our rule of thumb is not to overact to simple, appropriate work behavior, but you also can't put up with bullying either. We'll share some examples from our practice; see if any of these sound familiar.
If you are the CEO or General Counsel of your company, you should be preparing for a new challenge. The gaining momentum of the #metoo movement means there will likely be an increase in sexual harassment complaints. Raghu and Suriani certainly think it's already happening (#METOOWHATNEXT: Strengthening workplace sexual harassment protection and accountability, nwlc.org, 2017.), and our clients are certainly calling us more often to investigate claims. To better prepare, here are some suggestions we urge you to consider.
Let's say you have Bill who is a good guy in many ways but he can be a grouch. He is particularly likely to nag the young female accounting staff for inquiring about his expense reports. He looms over them and talks loudly sometimes shaking his finger, and using occasional mild profanity. You've talked to him and he always gives a half-hearted sheepish apology - and then does it again the following month.
Almost all of us have been to the yearly company football game, company barbeque, or happy hour. Organizations often think these events create closeness, trust, a sense of "teamwork", or even a sense of family. We love a good burger and a beer as much as anyone but in our experience the injuries, harassment and other complaints that can come from company social events may cause problems for employers. And we find that the defense that the events were "voluntary" may not hold up.
Joe L. Williams, CPCU, partner in Pozmantier, Williams & Stone Insurance Consultants, LLC, has over 55 years of experience as an Insurance Agent / Broker and Insurance Consultant. From 1970 until 2007, he was a principal shareholder in a large Houston firm, Wisenberg Insurance + Risk Management, and was Chairman and CEO when the firm was sold to a subsidiary of Wells Fargo Bank. One of the youngest people ever to receive the CPCU professional designation at the age of 23, Mr. Williams is very familiar with all phases of the insurance industry, including consulting on bad faith, customs and practices, and standards of care. He has particular expertise in property coverage, business interruption, non-subscription, and risk transfer techniques. Litigation Support - Mr. Williams provides expert services to counsel representing both Plaintiff and Defense. He offers objective opinions on the following matters:
Dr. Tringale provides environmental consulting and expert witness services to a diverse group of public and private sector clients throughout the United States both directly and through legal counsel. His experience includes contaminated soil and groundwater issues; Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) remedial investigations and feasibility studies; cost estimating and allocation; soil and groundwater remediation and redevelopment; and third-party review and strategic consulting. As a testifying expert and litigation consultant, Dr. Tringale has given testimony at trial in state and federal courts. His opinions have related to compliance with the National Contingency Plan, identification of contaminant sources, assessment of magnitude and extent of contamination, evaluation of remediation programs, review and development of remedial cost estimates, and allocation of cost and responsibility.
Dr. Tringale has been providing litigation support services to the legal industry for over 25 years. He is available to attorneys for Plaintiff and Defense. Dr. Tringale has been retained more than 25 times and has provided expert testimony in support of counsel for cases involving:
Tony Wayne, CPA, CFF, CVA, CIRA, is a Certified Public Accountant with over 25 years of private industry senior operations experience.
Background - After a diverse career spanning 15 years in Big 8 public accounting/consulting and private industry, Mr. Wayne founded IronHorse with an emphasis on complex commercial/ financial/private placement and M & A litigation support, family law & estate valuation & forensic accounting engagements, SBA loan application business valuations, distressed business valuation & appraisal, and commercial credit & private equity portfolio reviews & FASB compliance services. Visit their website at www.ihorsellc.com.
Litigation Support - Mr. Wayne is available to advise boards of directors, senior management, and corporate counsel in all litigation matters that can impact business practices, profitability, and continued viability. He maintains rigorous compliance with certifying and credentialing bodies and their regulations and scrutinizes the facts behind complicated forensic accounting and valuation issues. He is a member of the American Bankruptcy Institute, including the Business Reorganization Committee and Fraud Task Force.
In addition, Mr. Wayne is a member of the American Institute of CPA’s, the Association of Insolvency & Restructuring Advisors, and the National Association of Valuation Analysts, his services include expert witness assistance (consulting and testifying), solvency opinions, rebuttal expertise, case assessment management, and services in other areas of dispute and pre-complaint, complaint, discovery, pre-trial, and settlement consulting.
Forensic Services Include:
Fraud prevention, detection and response
Financial Reporting Fraud and Irregularity Forensic Audits
Electronic Evidence Analysis
Preservation and Securitization
Ponzi Scheme Analysis
Asset Searches, Public Records Searches, and Related Party Search and Documentation
Pink Sheet and Other Stock Scams
Private Placement Fraud Analysis & Investigations
Borrowing Base and other Bank Fraud Examinations/Investigations
Valuation Services Include:
Mergers and Acquisitions-Buy & Sell Side Advisory
Estate Tax Returns
Buy / Sell Agreements
Distressed Business Valuation
Plan of Reorganization Valuation
Liquidation Plan Valuation
Lost Profit and Damages Computations/Valuation
Goodwill and Intangible Asset Fair Value Impairment Valuation
Lender & Private Equity Due Diligence / Portfolio Valuations
Thirty years ago, in the midst of an early-season slump, George Brett told reporters, "The first thing I look for in the Sunday papers is who is below the Mendoza line." Brett, who went on to hit .390 that year for the Kansas City Royals, was referring to Mario Mendoza, a light-hitting shortstop for the Seattle Mariners whose surname became synonymous with hitting futility.
Two years ago, you finally closed the big merger deal you spent what seems like years working on. Perhaps, your business is tied to commercial real estate development, construction, or building materials. Just when you were ready to start that big ramp up, the bottom fell out.
Executive Summary: Imagine the extraordinarily unusual challenge of valuing a going-concern start-up enterprise yet to make their first sale which was completely destroyed by a casualty loss and never-reopened. Further complicated by the inherent ambiguity, risk and complexity of the embryonic development stage industry in which they were attempting to operate and succeed.
In certain situations, the sale of an operating entity as a going concern in a receivership proceeding is a viable alternative to seeking relief under the Bankruptcy Code. Receivership going-concern sales may be especially appropriate in complex situations where enterprise value is declining, but the company is not hopelessly insolvent. This article briefly highlights those conditions, factors, situations and circumstances that may contribute to or impede a successful going-concern transaction within a court-supervised commercial receivership.
Robert Bates, CPA, CFE, CVA, has over 30 years of Financial Management and Accounting experience as a Controller and CFO in various industries. He has been in several industries, including telecom, media, retail and financial services in addition to having consulting experience at startups in the software, technology, and life sciences fields.
Mr. Bates specializes in International Accounting, Software Issues, and Obtaining Financing. The CFO of a public company, he has completed due diligence accounting/reporting for 12 acquisitions, including performing Business Valuations and dealing with FAS 142 issues. Mr. Bates has handled accounting for complex debt instruments including warrants, beneficial conversion feature, and other derivative issues. He has also been responsible for SEC reporting: 10Q’s and 10K’s.
Litigation Support - Robert Bates has worked with dozens of lawyers on over 50 cases in various states. Sometimes he provides financial support for a client in litigation, or pre-litigation, and other times he provides a report, such as a damages calculation, which can be used in litigation. He also has experience providing testimony in depositions and trials.
Economic downturns and recessions are notorious for encouraging fraud. As new and prospective fraud examiners, it's imperative that you become aware of the various fraud risks that can occur and the red flags that indicate a fraud in progress.
Beat K. Schlumpf is an Expert in European Supply Chain Management, Networks and Logistics. He has over 30 years of experience in supply chain execution. Mr. Schlumpf has extensive knowledge in a broad range of management assignments with a focus on facilities design, worldwide distribution network design, expansion and consolidation and warehousing for textile, machinery, postal services (mail, parcel, express) and transportation industries.
He has acted as an Expert at the UNCTAD and was featured speaker on practices and operation used by global freight logistics firms for the World Trade Organization (WTO) and lecturer for distribution logistics.
Mr. Schlumpf has published articles on outsourcing, one stop shopping and co-operation with forwarders and integrators and new inventing Operations Audit to increase efficency.
One of the industry's leading law firm services experts, Michael J. Garibaldi, CPA, ABV, CFF, CGMA, has a strong background providing efficient and affordable solutions to the many complex issues facing the legal profession today.
A Certified Public Accountant licensed by the State of New York, Mr. Garibaldi is Accredited in Business Valuation (ABV), and Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants (AICPA). He is recognized as a Chartered Global Management Accountant by the Association of International Certified Professional Accountants.
Mr. Garibaldi works closely with law firms and other professional service firms, manufacturing, wholesale/retail, medical, technology, restaurant/hospitality, artists and galleries, construction, and real estate clients where he is responsible for providing accounting, tax planning management consulting services, and financial reporting.
Mr. Garibaldi provides valuation and litigation support services, assisting attorneys and their clients with the financial aspects of a case throughout the litigation process, from contemplation of action through expert witness testimony. He brings an in-depth understanding of the business and technical aspects of valuation, finance and accounting that is required in complex litigation and arbitration cases.
Mr. Garibaldi qualifies as an expert in valuation matters in the Supreme Courts of New York, Nassau, Suffolk, Kings, Richmond, Monmouth, Orange, and Westchester Counties, and has been called upon by the courts to serve as a neutral Expert. As an instructor of the AICPA Certificate of Educational Achievement Program in Business Valuation, Mr. Garibaldi teaches his specialty to other professionals.
Michael Garibaldi is a Candidate Member of the American Society of Appraisers (ASA), Member of the Institute of Business Appraisers (IBA), the Association of Certified Fraud Examiners, the American Society of Appraisers (ASA), the AICPA and the NYSSCPA. He is a past President and former member of the Board of Directors of the NYSSCPA Nassau Chapter, and has held a variety of positions on the Litigation Support Committee of the Nassau County and State Chapters of the NYSSCPA. Mr. Garibaldi has also held a number of positions on other committees and sub-committees within these organizations.
Most lawyers know how big a problem occupational fraud is in corporate America. They may even count as clients companies that have been defrauded and suffered significant losses. Yet a "not at my firm" attitude persists among many partners who take for granted the honesty and integrity of their colleagues and staff.
When a dishonest CFO or controller cooks the books, it can be devastating for the victim organization. In addition to direct financial losses, financial statement frauds erode trust between management and other stakeholders, including lenders, investors and employees who own company stock. Unfortunately, it's common for smaller companies to associate financial misstatement with large public companies that focus heavily on earnings per share.
It may be detrimental to an expert witness's credibility if even the appearance of a lack of independence exists. In today's legal environment, discrediting an expert based on his or her relationship with counsel, the client or the judge is common. Let's examine how to identify an expert's independence.
There are many more purposes for which valuations are used. Each has its unique presumptions. It must be understood that there is no one value and that the same investment can have a different value to different people and for different reasons. Each valuator must analyze such differences, understand the presumptions inherent in the purpose for which the valuation is to be used, and select and implement a method to determine proper value for the purpose.
When a client voiced strong suspicions that her soon-to-be ex-husband was hiding assets, her attorney investigated the claim but found nothing amiss. However, he hired a forensic accounting expert to help ensure his client would receive an equitable share of the marital estate. The expert turned up a trunkload of hidden treasure - undeclared cash income and property "stashed" under the names of the husband's mother and siblings.
Goodwill can be a significant asset for a professional practice. It may include both "personal" goodwill that's attributable to individual owners and "business" goodwill that can be transferred to third parties. When accountants and other types of professionals divorce, the amount of goodwill to include in the marital estate can become contentious (and may vary depending on state law). If expert testimony on the issue is inadequate, a court might look elsewhere for help, as it did in a recent Texas divorce case, Hill v. Hill.