Quantifying Financial Loss: Strategies and Techniques for Attorneys

Chaka M. Patterson
Chaka M. Patterson | Alston & Bird LLP

He served as senior vice president, general counsel, and corporate secretary at a global education corporation where he led a team of 30 and guided the business development, M&A transactions, investor relations, corporate governance, risk and compliance, and litigation functions.

On-Demand: December 11, 2024

2 hour CLE

Tuition: $195.00
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Program Summary

Quantifying financial loss is crucial for accurately representing a plaintiff’s damages and ensuring fair compensation in legal disputes. This presentation will explore methods to quantify financial loss systematically, discuss the role of expert insights, and consider how legal standards and precedents shape our approach. When a financial loss occurs, accurately calculating that loss is essential for justice. Whether the case involves lost wages, business interruption, or fraudulent behavior, our goal is to create a wellsupported quantification that the court can trust. This program covers the types of losses we might encounter, various methods for gathering and analyzing data, key models for loss quantification, the importance of expert contributions, and the significance of aligning our methods with legal precedents and standards. This foundation enables lawyers to approach financial losses in a structured, defensible manner.

Key topics to be discussed:

  • Learn about the most common types of financial losses in legal cases
  • Discover data collection and analysis techniques
  • Apply loss quantification models to determine the damages your client has suffered
  • Identify and collaborate with damages experts more effectively

Closed-captioning available

Speakers

Chaka M. Patterson_myLawCLEChaka M. Patterson | Alston & Bird LLP

Chaka Patterson has over three decades of experience in corporate government and private practice. He served as senior vice president, general counsel, and corporate secretary at a global education corporation where he led a team of 30 and guided the business development, M&A transactions, investor relations, corporate governance, risk and compliance, and litigation functions.

He was the chief of the Civil Actions Bureau for Cook County’s State’s Attorney in Illinois where he managed a team of 100 lawyers defending the county and its officeholders and employees in civil suits. Chaka also served as an assistant attorney general and chief of the Illinois Attorney General’s Office Special Litigation Bureau, where he prosecuted civil and criminal fraud cases, including health care fraud, securities fraud, complex consumer fraud, charitable trust fraud, and False Claims Act cases.

Chaka’s private practice experience as a partner in two Am Law 100 law firms includes representing clients in complex business and commercial litigation, white-collar criminal defense involving state attorneys general investigations, and internal investigations.

Chaka’s background includes:

  • Partner at Alston & Bird
  • Former General Counsel of a Fortune 1000 Global Education Company
  • Former Treasurer & VP for Investor Relations of a Fortune 100 Energy Company
  • JD from Harvard Law School and MBA from University of Chicago Booth School of Business

Agenda

I. Learn about the most common types of financial losses in legal cases | 2:00pm – 2:30pm

  • Actual damages
  • Consequential (special) damages
  •  Punitive damages
  • Restitution

II. Discover data collection and analysis techniques | 2:30pm – 3:00pm

  • Gathering and analyzing data to quantify financial losses accurately
  • Techniques include, forensic accounting, business valuation, market analysis, and income/employment records

Break | 3:00pm – 3:10pm

III. Apply loss quantification models to determine the damages your client has suffered | 3:10pm – 3:40pm

  • Models used to calculate financial loss by projecting income or cash flow and adjusting for economic factors
  • Net Present Value (NPV), Discounted Cash Flow (DCF), But-For Analysis, Benchmarking against similar businesses

IV. Identify and collaborate with damages experts more effectively | 3:40pm – 4:10pm

  • Financial experts & economists
  • Vocational experts
  • Actuaries

Credits

Alaska

Approved for CLE Credits
2 General

Our programs are CLE-eligible through Alaska's recognition of multi-jurisdictional reciprocity.
Alabama

Pending CLE Approval
2 General

Arkansas

Approved for CLE Credits
2 General

Arizona

Approved for CLE Credits
2 General

California

Approved for CLE Credits
2 General

Colorado

Pending CLE Approval
2 General

Connecticut

Approved for CLE Credits
2 General

District of Columbia

No MCLE Required
2 General

Delaware

Pending CLE Approval
2 General

Florida

Approved via Attorney Submission
2.5 General Hours

Receive CLE credit in Florida via Attorney Submission.
Georgia

Approved for CLE Credits
2 General

Hawaii

Approved for CLE Credits
2.4 General

Iowa

Pending CLE Approval
2 General

Idaho

Pending CLE Approval
2 General

Illinois

Approved for Self-Study Credits
2 General

Indiana

Approved for Self-Study Credits
2 General

Kansas

Pending CLE Approval
2 Substantive

Kentucky

Pending CLE Approval
2 General

Louisiana

Pending CLE Approval
2 General

Massachusetts

No MCLE Required
2 General

Maryland

No MCLE Required
2 General

Maine

Pending CLE Approval
2 General

Michigan

No MCLE Required
2 General

Minnesota

Approved for Self-Study Credits
2 General

Missouri

Approved for CLE Credits
2.4 General

Mississippi

Pending CLE Approval
2 General

Montana

Pending CLE Approval
2 General

North Carolina

Pending CLE Approval
2 General

North Dakota

Approved for CLE Credits
2 General

Our programs are CLE-eligible through North Dakota’s recognition of multi-jurisdictional reciprocity. Section 1, Policy 1.14
Nebraska

Pending CLE Approval
2 General

The Federal Bar Association reports attendance to Nebraska on each attorney's behalf for all programs. Please do not self-report.
New Hampshire

Approved for CLE Credits
120 General Minutes

As of July 1, 2014, the NHMCLE Board no longer provides pre- or post-approval of courses. Attendees must self-determine whether a program is eligible for credit, and self-report their attendance online at www.nhbar.org, based on qualification provisions of Rule 53.
New Jersey

Approved for CLE Credits
2.4 General

Our programs are CLE-eligible through New Jersey's recognition of multi-jurisdictional reciprocity, except for the courses required under BCLE Reg. 201:2
New Mexico

Approved for Self-Study Credits
2 General

Nevada

Approved for Self-Study Credits
2 General

New York

Approved for CLE Credits
2.4 General

Our programs are CLE-eligible through New York’s Approved Jurisdiction Group “B”.
Ohio

Pending CLE Approval
2 General

Oklahoma

Pending CLE Approval
2.5 General

Oregon

Pending CLE Approval
2 General

Pennsylvania

Approved for Self-Study Credits
2 General

Rhode Island

Pending CLE Approval
2.5 General

South Carolina

Pending CLE Approval
2 General

South Dakota

No MCLE Required
2 General

Tennessee

Approved for Self-Study Credits
2 General

Texas

Approved for CLE Credits
2 General

Utah

Pending CLE Approval
2 General

Virginia

Pending CLE Approval
2 General

Vermont

Approved for CLE Credits
2 General

Washington

Approved via Attorney Submission
2 Law and Legal Hours

Receive CLE credit in Washington via Attorney Submission. myLawCLE will supply Washington state attorneys with instructions on how to gain credit.
Wisconsin

Approved for Self-Study Credits
2 General

West Virginia

Pending CLE Approval
2.4 General

Wyoming

Pending CLE Approval
2 General

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