Weak damages evidence can mean nominal damages

Description

Abstract: A start-up company lost out on a jury’s $4.35 million lost profits award in a breach of contract action after a federal court found its expert’s “yardstick” analysis faulty. This article explains what happened, why the U.S. Court of Appeals for the Second Circuit upheld a $1 damages award and how the case may apply to other clients who rely on financial experts to quantify economic damages.