It stands to reason that product liability actions are quite complex, and establishing legal fault and economic loss often requires the assistance and testimony of experts. Aside from the legal perspective, product liability includes elements of finance, business valuations, forensics, determination of economic losses, accounting, economics, management and other disciplines.
It is the job of a valuation expert to measure economic loss. Doing so requires a thorough examination, including a careful analysis of pertinent operational, financial, industry, and economic data. A valuation expert's responsibility is to measure the value by which all parties are made “whole” after the event.
However, not all valuation professionals are created equal. Every economic loss profile is unique and therefore requires an experienced and knowledgeable professional to give an independent, well-reasoned and well-supported opinion.
At Lakelet Advisory Group ("LAG"), our experts are highly experienced and credentialed. We offer both valuation and forensic accounting services, enabling us to ensure we have the best information available and can deliver the most accurate measure of economic loss based on that information. Our team has the ability to examine large amounts of complicated data in an efficient and cost-effective manner, and report solid conclusions supported by careful analyses.