Selecting the right valuation or damages expert can make or break your case. Knowing how to pick the right expert is key to obtaining a successful outcome.
Choosing the right expert for a litigation matter goes beyond just checking that the person has the right credentials to act as an expert on financial damages. It is equally important that the expert can connect with the judge or jury, and educate them about how the available data and other information supports your client’s position.
Know What Skills Your Expert Witness Must Have
Expert witnesses are often referred from one attorney to another, however, when you need an expert with a very specific skill set, like expertise in business valuation and mergers and acquisitions issues related to buying and selling private companies, clients and law firms do research to identify potential experts.
When picking an expert witness it is critical that you and your attorney know exactly what skills you want your expert witness to have. Richard Jackim, the Managing Partner at Jackim Woods & co, is a former mergers & acquisitions attorney and an experienced investment banker who has been involved in over 75 mergers and acquisitions in over 20 different industries, has performed over 290 business valuations, and has represented both buyers and sellers. Jackim earned his law degree with honors from Cornell University Law School and his Master of Business Administration with honors from the Kellogg Graduate School of Management at Northwestern University. Rich also developed and taught the Certified Exit Planning Advisor program offered through the Booth School of Business at the University of Chicago. A copy of his expert witness curriculum vitae is available here.
Communication Skills Are Key
In addition to the right credentials, an effective expert witness must be able to communicate in a clear, concise, and articulate manner. He must come across as knowledgeable, accessible and self-assured, but not condescending. The ability to build rapport with the judge and jury is essential; and when both sides present a strong, technically sound case, a jury often favors the side whose expert was able to communicate the issues more clearly or convincingly. To that end, we offer clients and their attorney’s a free, one-hour initial assessment of their claims so they can determine if our approach and communication style meets their needs.
Richard Jackim is a personable and knowledgeable expert and has a unique ability to present complicated issues in a clear and concise manner that connects with judges and juries.
Credibility Is A Must
An expert must also be polished and unflappable in the face of tough, sometimes seemingly stupid questions from opposing counsel. An expert witness must be able to answer questions about his background and experience to withstand a Daubert challenge. It’s critical for the attorney to have an upfront conversation with the expert to ensure they are of good character; have worked for both plaintiff and defendant; learned of any positions they may have taken that are adverse to the position taken in this case, whether through testimony or through publications of an article; and whether they have been Dauberted.
Richard Jackim’s top-tier academic credentials, plus his 30 years of business experience including practicing mergers & acquisitions law, and leadership positions at several leading investment banking firms, provides him with unique qualifications as an expert witness. His opinions are based on market realities and actual transactions, not just financial theories. As a result, he can speak to industry best practices and what is “market”.
An Expert’s Experience Wins Cases
It’s also important that you select an expert witness who has experience testifying in a courtroom or providing deposition testimony. This experience enables them to have a clear understanding of the moving parts of a case, gives them an advantage by being able to understand how litigation and depositions work, allows them to anticipate the kinds of questions opposing counsel might ask, and helps you and your attorney understand the key weaknesses in the opposing expert’s presentation.
Jackim has consulted on over thirty-two different litigation matters, testified in six depositions, and provided expert witness testimony in two trials. His experience as an industry expert and as an expert witness helped the parties settle thirty matters without going to trial. On the two matters that did go to trial, Jackim’s clients won both matters on the merits, with the judge stating in one case that Jackim’s testimony was clear and convincing and could not be refuted by the opposing expert witness.
Areas of Expertise
- Business Valuations
- Financial Damages (lost revenues & profits)
- Purchase Price Allocation
- Valuation of Personal Goodwill
- Earnout Disputes
- Lender or Creditor Disputes
- Shareholder Disputes
- Buyer & Seller Disputes
- Phantom equity and other employee incentive plans
- ESOP disputes
- Business broker & investment banker fee disputes
Engage An Expert Witness as Early as Possible
For these reasons, we encourage clients and their attorneys to contact us as early as possible. Early collaboration provides us with an opportunity to help you and your attorney to discuss strategy. Ideally, we would be engaged early enough to assist in formulating requests for discovery. As a well-versed damages expert, Jackim knows what information is needed to ensure a thorough and supportable analysis. In addition, engaging us early in the process allows time to think through the issues and help you and your attorney develop the most cost-effective strategy to present your case.
In the event we find we cannot support your position based on the information provided, knowing this early on can give you time to either revise your strategy or find a different expert. Remember, unlike attorneys who are advocates for their clients, your expert witness should be a neutral, third party whose opinion is objective and unbiased. Jackim has built an impeccable reputation by providing clients with honest, objective, advice based on the available facts and his years of industry experience.
As an experienced damages expert, Jackim is familiar with recent case law in the subject area, as well as the best business practices in mergers and acquisitions and business brokerage firms. He knows his role and can be the deciding factor in your case if you choose to use his knowledge, experience, and credentials. For a free initial consultation, please contact Richard Jackim at email@example.com or at 224-513-5142.Read More
Veritext, the national leader in court reporting and litigation support solutions, announced that it has acquired David Feldman Worldwide (DFW) Court Reporting. DFW’s experience with very complex litigation cases and exemplary customer service complements Veritext’s full breadth of technical solutions and world-class data security. Together they will offer clients of both companies premier court reporting and litigation support solutions.
“DFW’s expertise in very complex litigation fits well with the experience and advanced technology Veritext brings to the table,” said Nancy Josephs, Chief Executive Officer of Veritext. Clients of DFW will have immediate access to Veritext’s state-of-the-art deposition suites, multimedia depositions, document repositories, remote depositions, online and mobile scheduling, paperless depositions and more. In addition, they will experience the world-class, HIPAA-compliant data security Veritext offers. “Combining the services of both companies makes the perfect union,” Josephs continued.
DFW was founded by David Feldman in 2002 along with his two children, Michael and Sheril, who have owned and operated the company since 2009. DFW’s client-facing team will stay on with David Feldman Worldwide, a Veritext Company after the acquisition, ensuring that clients will receive the same stellar service they have come to expect. DFW is based in New York City and serves clients across the United States and in foreign locations.
“By joining with Veritext, we will be able to offer our clients a full breadth of technology solutions to make the deposition process more effective. They will also have access to the more than 50 Veritext offices around the country,” said Michael Feldman, President of David Feldman Worldwide, a Veritext Company. “Veritext shares our commitment to quality court reporting and impeccable service, which makes this transition the perfect fit for our clients and our employees.”
Veritext is the largest nationwide provider of deposition and litigation support solutions, providing court reporters, advanced technology and services to law firms and corporations across the United States. Veritext has been serving the legal community since 1997 and has extensive experience in all types of complex litigation. The company recently announced acquisitions in Florida and New Jersey and their expansion in the St. Louis marketplace. More information can be found at www.veritext.com.Read More