Economic & Financial Damages
IEc applies its expertise in the theory and application of various damage estimation approaches in contract, tort, and regulatory contexts. Our analyses emphasize the use of modern damages theory and techniques. We work closely with our clients to assure that the damages models we use, and the damages estimates we develop, are consistent with the legal remedies available. While our work is rigorous, we know the importance of making our findings accessible to those who are not financial specialists.
IEc’s experts are well versed in the standards of proof and traditional measures of damages employed by U.S. federal and state courts, including the Unites States Court of Claims. We have presented expert testimony in state, federal, and international adjudicatory settings, as well as in administrative hearings. IEc experts have testified on the full-range of damages issues, including lost-profit damages; property value diminution; economic benefit of noncompliance with environmental requirements (i.e., unjust enrichment); financial data analysis; government finance; and environmental damages. In addition to our in house experts, we often work with clients to identify and manage topic-area specialists as expert witnesses and advisors.
Examples of our work include:
- Lost profits and business interruption damages – covering a wide range of industry sectors, including petroleum refining; coal and nuclear electricity generation; lodging and tourism; food and beverage; commercial fishing; and real estate development.
- Damages to the public from regulatory noncompliance – such as estimating the impacts of VW diesel emission violations.
- Economic and fiscal damages to governmental entities – such as developing a tax revenue simulation model to assess impacts to Alabama from Deepwater Horizon oil spill.
- Breach of contract – such as evaluating economic effects concerning cancellation of long-term timber harvest contracts in Alaska.
- Groundwater contamination – assessing harm and cost of remedies concerning PFC’s, petroleum, and other contaminants.
- Impacts of wild fires – such as assessing environmental, incremental cost, and fiscal impacts of California forest fires.
- Water use and rights claims – such as evaluating interstate water disputes and Indian water rights claims.
- Environmental harm to property values – appraising property value diminution from air, groundwater, and terrestrial contaminants.
- Class damages – assessing damages and developing allocation methods for class members.
- International environmental adjudication – supporting adjudication of reparation claims concerning armed conflict and other disputes for United Nations Claims Commission and International Court of Justice.
- Litigation support in complex matters – providing technical and consulting expert support to large and complex litigation, assisting with discovery and information management, and coordinating expert teams.