Business Valuation Resources, LLC March 5, 2009 Conference

Lost Profits Damages: Lessons Learned from Motions to Exclude Financial Experts
Presented by Business Valuation Resources, LLC

Featuring: Nancy Fannon, ASA, CPA/ABV, MCBA and Jonathan Dunitz, Esq.
Thursday, March 5, 2009

10:30am-12:10pm PT / 1:30pm-3:10pm ET
Earn 2 CPE credits and 1.5 CLE Credits

Register for Teleconference - $249.00

Register for Teleconference and On Demand Conference Pack - $339.00

NEW FOR 2009 - Unlimited listeners for CPE credit at no charge!
Invite your entire office to listen in!  BVR is now offering CPE to an unlimited number of attendees of our teleconferences and webinars at no additional charge.  Simply purchase one phone line and anyone at your location can listen in, enjoy the session, and earn CPE credits. Call (503) 291-7963 for details.

Hear about the program from teleconference moderator, and editor of The Comprehensive Guide to Lost Profits Damages: An Attorney and Expert Reference Book, Nancy Fannon:
Click to Play:

Why you should attend:

The U.S. Supreme Court's Kuhmo Tire decision in 1999 extended the Daubert admissibility criteria to non-scientific expert testimony. 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. They are also a wealth of information for experts seeking guidance on gathering facts and data and the application of appropriate methods.

Join Nancy Fannon and Jonathan Dunitz as they discuss the best ways to protect yourself from Daubert challenges and the lessons learned from nine years of excluded experts in Lost Profits cases.


  • Overview of successful and unsuccessful challenges to financial experts
  • Review of sufficient evidence in a lost profits case
  • How the court determines what financial models are appropriate
  • Advice and insights into how you can protect yourself from Daubert and other challenges

Learning Objectives:

  • How to protect yourself from Daubert challenges and motions to exclude
  • Understand why might some evidence may be sufficient in one case, but not in another
  • Understand the court's thinking on financial models and if they have been applied reliably to the facts of the case
  • Know what to do if you simply didn’t find the data the court thinks you should have


Panel Includes:

Nancy Fannon, ASA, CPA/ABV, MCBA, Fannon Valuation Group

Nancy J. Fannon is the Owner of Fannon Valuation Group, a business valuation and litigation support services firm located in Portland, Maine. She is an Accredited Senior Appraiser (ASA) with the American Society of Appraisers, holds the AICPA specialty designation of Accredited in Business Valuation (ABV), and is a Master Certified Business Appraiser (MCBA) with the Institute of Business Appraisers.

Ms. Fannon has over 20 years of professional valuation experience. She has been qualified as an expert witness in State and Federal Court. She is a nationally known expert on lost profits damages, pass-through entity valuation, and the transaction databases, and has presented dozens of speeches and authored numerous papers on these and other areas of business valuation. She is the author of The Comprehensive Guide to Lost Profits Damages, Attorney and Expert Reference Book, Fannon’s Guide to the Valuation of Subchapter S Corporations and The Comprehensive Guide to the Transaction Databases, which she co-authored with Heidi Walker. She is a co-author of Financial Valuation—Applications and Methods, and was a contributing author for both The Business Appraiser and Litigation Support and Business Valuation and Taxes: Procedure, Law, and Perspective textbooks, has been a technical reviewer on several other textbooks including the fifth edition of Shannon Pratt’s seminal textbook, Valuing a Business, published in 2008. Ms. Fannon has a Bachelor of Business Administration in Accounting from the University of Massachusetts.

Ms. Fannon was a member of the AICPA Business Valuation Subcommittee, the ABV Credential Committee, and has chaired the AICPA Business Valuation Conference. She is a member of the Editorial Advisory Boards of CPA Expert, Business Valuation Update, and Valuation Examiner, and is on the Panel of Expert for the Litigation and Consulting Expert. In 2007, Ms. Fannon was inducted into the AICPA’s Business Valuation “Hall of Fame”, awarded for substantial contributions to the advancement of the business valuation profession.

Jonathan Dunitz, Esq., Friedman Gaythwaite Wolf & Leavitt

Jonathan Dunitz is Senior Counsel with the Portland law firm of Friedman Gaythwaite Wolf & Leavitt and has fifteen years of litigation experience. He practices in the areas of commercial and business litigation, insurance coverage, complex family law and appellate advocacy. He is admitted to practice before all state and federal courts of Maine and the United States First Circuit Court of Appeals.

Mr. Dunitz is a frequent panelist for the Maine State Bar Association, including: Freeze-Out, Fiduciary Duty and Oppression: Litigating Pursuant to the New Maine Business Corporations Statute at the 2004 Summer Meeting; The Art of Written Advocacy: Drafting Persuasive, Concise and Creative Legal Briefs and Memorandum at the 2006 Annual Meeting; Damages for Loss of Business or Business Opportunity at the 2007 Summer Meeting; and, Business Interruption Insurance Coverage at the 2008 Annual Meeting.

He is a 1988 graduate of Ithaca College and a 1993 magna cum laude graduate of the Syracuse University College of Law where he was Lead Articles Editor of the Syracuse Law Review.


CPE Credit Information

Earn 2 Interactive CPE Credits (Consulting Services)
Business Valuation Resources, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. NASBA Sponsor

BVR's Satisfaction Guarantee:
Business Valuation Resources offers a complaint resolution and refund policy with a 100% money-back guarantee. If you are not completely satisfied with your conference experience, or have any concerns or complaints, you may contact Business Valuation Resources at (503) 291-7963 ext. 102 for a satisfactory resolution of your concern or you may submit a written request for a full refund of this program to Stephanie Crader at: or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.