When it comes to legal disputes, the issue of economic damages can often be a central point of contention. Whether it's a breach of contract, intellectual property infringement, or personal injury case, understanding and quantifying economic damages is crucial to reaching a fair resolution. That's where economic damage experts specializing in litigation support come in.
What is an Economic Damage Expert?
An economic damage expert, also known as a forensic economist, is a specialist who can analyze and calculate the financial impact of an event or action. They are often called upon in legal cases to provide expert testimony or a written report detailing the extent of economic damages suffered by a plaintiff or defendant. This may involve analyzing lost profits, calculating future earning potential, or assessing the value of intellectual property.
What is Litigation Support?
Litigation support refers to a range of services provided to attorneys and clients to assist with legal proceedings. This may include everything from document review and analysis to expert witness testimony. Economic damage experts are just one type of expert who may provide litigation support in economic cases.
How Can Economic Damage Experts and Litigation Support Help Your Case?
If you're involved in a legal dispute where economic damages are at stake, working with an economic damage expert can be extremely beneficial. Here are a few ways they can help:
If you're involved in a legal dispute where economic damages are at issue, it's important to work with an experienced economic damage expert who can provide litigation support. With their specialized knowledge and expertise, economic damage experts can help you understand the financial impact of a particular event or action and advocate for a fair resolution. Whether you're a plaintiff or defendant, having an economic damage expert on your side can make all the difference in the outcome of your case.
We are currently in the middle of one of the, if not the, most severe pandemics of our lifetimes. Litigation has already begun to be filed with the expectation of many more filings to follow. The articles below outline this litigation.
GEC will be available and prepared to provide valuable insights and analysis for you in your cases regarding potential damages due to this unprecedented event.
Please reach out if we can be of assistance in any way.
California-based healthcare provider, Beaver Medical Group L.P., and one of its physicians, Dr. Sherif Khalil, have agreed to pay a total of $5,039,180 to resolve allegations that they reported invalid diagnoses to Medicare Advantage plans and thereby caused those plans to receive inflated payments from Medicare, the Justice Department announced.
The Medicare Advantage Organizations (MAOs) often compensated Beaver with a share of the payments that the MAOs received from Medicare for the beneficiaries under Beaver’s care. Thus, Beaver had a financial incentive to submit additional diagnosis codes to the MAOs in order to increase the payments that the MAOs received from Medicare. The settlement resolves allegations that Beaver and Dr. Khalil knowingly submitted diagnoses that were not supported by the beneficiaries’ medical records in order to inflate the payments that the MAO received from Medicare.
The experts of GEC have a wide expanse of knowledge and expertise in the healthcare industry which can range from patients, healthcare providers, payers, and even antitrust issues stemming from hospital and provider integration, third-party payment and pricing, medical staffing and compensation practices, and Affordable Care Act compliance.
Amazon May Be Sued in Products Liability Cases Stemming From Third-Party Vendor Sales, 3rd Circ. Rules
Online retail giant Amazon, according to the US Court of Appeals for Third Circuit, may be liable under products liability laws for defective products sold by third-party vendors.
The lawsuit stemmed from an eye injury Heather Oberdorf sustained while walking her dog in early 2015. According to the allegations, she was using a leash she’d purchased a month earlier through Amazon.com from a company called The Furry Gang. When the leash malfunctioned it snapped backward and struck her in the face, allegedly leaving her with permanent loss of vision.
Having testified across the country on a wide variety of claims, GEC experts understand how to leverage the facts of the case to obtain accurate and optimal calculations of economic damages.
A freshman at Seattle Pacific University (SPU) and two experienced ironworkers were among the four people killed when a crane collapsed in Seattle on Saturday, officials said. The two workers who died in the crane collapse were reportedly ironworkers who were disassembling the crane.
Authorities say 6 cars were damaged in the incident, with witnesses reporting strong winds at the time of the crane collapse. The contractor on the South Lake Union construction project where the crane collapsed Saturday is investigating the collapse.
GEC experts have have successfully represented plaintiffs and defendants in personal injury and wrongful death lawsuits around the country. GEC's experience and expertise provides unique perspective and insights to these cases.
A state appeals court in Wisconsin has ordered a new trial in a medical malpractice lawsuit alleging a Milwaukee doctor didn’t take the steps necessary to protect a baby from brain damage.
Raquel Barney’s son, London, suffered a brain injury due to oxygen depletion during birth at Columbia St. Mary’s Hospital. In 2015, she filed a lawsuit alleging Dr. Julie Mickelson failed to determine whether a heartbeat monitor placed on Barney’s abdomen was accurately measuring London’s heartbeat.
GEC has testified and analyzed medical malpractice claims involving individuals of various socioeconomic backgrounds. Our expertise spans the U.S. healthcare delivery system from patients to providers to payers.
Two employees of The Walt Disney Co. have filed a class action lawsuit alleging that its studio entertainment division systemically underpays women, when compared with men.
The complaint alleges that Disney treats women as “cheap labor,” paying them tens of thousands of dollars less than male colleagues. The two plaintiffs, both women, brought the lawsuit on behalf of a class of thousands of current and former California employees of Walt Disney Studios.
GEC has performed analyses involving all types of labor and employment litigation, including many cases involving discrimination of various types. We take pride in our ability to develop and present the best damages approach for our clients.
In what could be the most far-reaching antitrust lawsuit for the real estate market in decades, the National Association of Realtors and four of the largest realty companies have been accused of a conspiracy to systematically overcharge home sellers by forcing them to pay commissions to the agents who represent the buyers of their homes.
GEC experts are highly competent in analyzing and opining on antitrust matters and determining the economic damages associated with the case. We leverage not only our internal expertise, but also our extensive network of affiliates in order to assemble the optimal team for the project at hand.
U.S. Army Veteran Files Lawsuit Against 3M Company and Aearo Technologies for Debilitating Hearing Loss and Tinnitus
The California based law firm, Lieff Cabraser Heimann & Bernstein, announced a personal injury lawsuit against 3M Company (3M) and Aearo Technologies (Aearo), on behalf of George Dooley, a U.S. Army Veteran who experienced debilitating hearing loss and tinnitus from use of allegedly defective and unreasonably dangerous Combat Arms™ earplugs.
The lawsuit alleges 3M and Aearo knew Combat Arms Earplugs were defective prior to selling them, but falsified test results and misrepresented their performance to qualify for a multi-million dollar contract with the United States military.
GEC experts have have successfully represented plaintiffs and defendants in personal injury lawsuits around the country. GEC's experience and expertise provides distinctive value-added perspective and insights to these cases.
Prosecutors from Yavapai County Attorney's Office in Prescott, Arizona have ruled that Uber is not criminally liable for the death of Elaine Herzberg, a 49-year old woman who was struck by one of Uber's self-driving cars. The car's back-up driver could still face criminal charges.
The crash occurred in March 2018 when a Volvo XC90, which Uber had been using to test its self-driving technology, crashed into Ms. Herzberg while walking with a bicycle across a poorly lit stretch of a multi-lane road.
GEC's experts have represented both plaintiff and defendants nationwide in both federal and state courts in personal injury and wrongful death litigation. GEC has comprehensive experience analyzing personal injury claims across a multitude of industries and occupations.
A lawsuit was filed by Massachusetts's Attorney General, Maura Healey, against Purdue Pharma and the Sackler family claiming that the latter created the Opioid epidemic caused by their product OxyContin. She further outlined in her case that Purdue Pharma, despite knowing that their drug was the cause of overdoses, continued to profit from it through a web of illegal deceit.
GEC experts provide industry leading insights on the economics of healthcare markets and institutions. Their expertise spans the U.S. healthcare delivery system from patients to providers to payers. GEC leverages both broad understanding of healthcare markets and institutions and detailed institutional knowledge to provide insights and solutions to client's problems.
Matthew Murdock, President of The GEC Group, has been accepted into Forbes Chicago Business Council, an invitation-only community for successful business owners and leaders in Greater Chicago.
“I’m excited to be a part of this diverse community of outstanding business leaders in the Chicago area, and I look forward to working and collaborating with them in the future, and realizing the benefits of these interactions within The GEC Group, further cementing our firm as an industry-leading entity,” said Mr. Murdock.
An Indonesian airplane carrying 189 passengers crashed into the sea soon after take-off. It is likely that all 189 passengers have died, making it the second-worst air disaster since 1997.
GEC has served as economic experts for both plaintiffs and defendants in a variety of aviation litigation, analyzing economic losses associated with private and commercial passenger airplane crashes, including the following cases:
A jury awarded a family $130 million in damages after a child sustained severe brain damage while under the care of Beaumont Hospital. The brain damage resulted in cerebral palsy causing the child to require full-time care and assistance. This is one of the largest jury settlements in Michigan's history.
GEC has testified and analyzed medical malpractice claims involving individuals of various socioeconomic backgrounds. Click here for an example of a medical malpractice case GEC recently testified on.
A Kansas farmer lost over 200 acres of soybeans after using Monsanto’s dicamba-formulated product. He filed a complaint against Monsanto claiming that Monsanto knew its product would harm other crops, but continued to market and sell their product in spite of this. Farmers across 10 states have suffered crop losses due to the dicamba-formulated products and are already suing Monsanto over damages from these products.
GEC has extensive experience quantifying damages associated with crop loss claims, over all different types of crops.