Expert’s lost-profits opinion hits the nail on the head
Abstract: Establishing lost-profits damages can prove difficult — especially when a case involves a new business in a volatile industry. But a recent breach of contract and fraud case suggests that solid testimony from a qualified financial expert can help attorneys make their case. This article discusses the case, in which a restaurant owner claimed lost profits due to the developer’s failure to provide promised valet parking services. The defendant disagreed with the amount of damages that were awarded, so the appeals court studied the methodology used by the plaintiff.