News and Events

The Litigator's Damages Blueprint
The Pragmatic Solution

By Richard F. Bero

"Now available for the first time in print, this book will provide you with a process that our team calls "The Pragmatic Solution" to help you manage your damages case. It offers a structure to engage fully with your damages analysis as you move from early preparation up to and through trial.

"How and where do damages fit in? You may have dealt with damages in cases many times before. Or, possibly, not at all. Whatever your experience, if the case before you involves damages considerations, they may be significant. They may be critical. You and your team will benefit from a structured process for the damages portion of the case.

"This book will guide you to work with your damages expert to develop a well-reasoned analysis
that will align with your liability case."

— Rick Bero, Author

The Definitive Guide

Not a how-to-calculate-damages book, but a process that The BERO Group calls "The Pragmatic Solution" which can help you manage your damages case.

Purchase a Copy

 The Damages Report

COVID-19 damages

COVID-19 Impacts Discount Rates, Which Impacts Some Damage Calculations

Clearly linkable to COVID-19, Duff & Phelps has made two adjustments to components used in calculating discount rates since February 2020. A discount rate is used when valuing a business or quantifying future lost profits. The future benefits stream (e.g., cash flow) needs to be brought back to its present value (e.g., as of a valuation date or a date of wrongdoing) via a discount rate commensurate with the risks associated with the benefits stream.

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COVID-19 mask

COVID-19 Impacts Damage Calculations — as may any major macroeconomic factor

I had a discussion with an attorney recently wherein the topic of COVID-19 and foreseeability arose. In the hypothetical being discussed, the claimed wrongdoing occurred mid-2019 and its economic impact continues today. In mid-2019, COVID-19 was not reasonably foreseeable, so my initial thoughts included the consideration of minimizing or correcting for the COVID-19 economic impact. COVID-19 is novel (you caught the pun there, reader, didn’t you? )

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50fish photo

MLC Intellectual Property, LLC v. Micron Technology, Inc.

On June 11, 2020, Jim McGovern, a Senior Director of The BERO Group, along with David Long of Essential Patent LLC, gave a presentation to the IPO Damages Committee. Jim and David discussed damages issues addressed in MLC Intellectual Property, LLC v. Micron Technology, Inc., No. 3:14-cv-03657 (N.D. Cal.), No. 2020-1413 (Fed. Cir.). In 2014, MLC Intellectual Property, LLC (“MLC”) sued Micron Technology Inc. (“Micron”) for patent infringement of U.S. Patent No. 5,764,571 (the “ ‘571 patent”). The ‘571 patent generally related to non-volatile memory devices. MLC alleged that certain Micron flash memory products, that could be used in consumer products including tablet computers, personal music players, smart phones and other wireless devices, infringed the ‘571 patent.

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CDC COVID-19 Virus

Will COVID-19 Pandemic Shutdowns Trigger Business Interruption Insurance Coverage?

By James L. McGovern, CPA/CFF, CVA, Fellow
May 2020

Mandatory state shut down orders may trigger business interruption coverage if a Pennsylvania Court’s interpretation is widely accepted. With thousands of businesses around the world being shutdown pursuant to government mandates designed to slow transmission of to the COVID-19 virus, many business owners are looking to their insurance policies for a lifeline.

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Copyright Infringement

U.S. Supreme Court rules Willful Infringement is not Required for Award of Defendant’s Profits for Trademark Infringement.

By James L. McGovern, CPA/CFF, CVA, Fellow
April 2020

In a unanimous decision on April 23, 2020, ruling in the matter of Romag Fasteners Inc. v. Fossil Inc. et. al., case number 08-1233, the U.S. Supreme Court ruled that the Lahnam Act does not require a finding of willful infringement in order for a trademark owner to receive an award of lost profits.

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The BERO Group Expands to Chicago

Celebrating the launch

The BERO Group has expanded and opened a new office in Chicago. Located in the financial district of The Loop at 200 W. Jackson Boulevard, Suite 1300, we aim to provide our Chicago clients greater accessibility to our team.

"Chicago is a natural expansion choice for our team and our clients," says Rick Bero, Managing Director of The BERO Group. "Our team has worked with Chicago and Illinois attorneys and businesses for many years. It's the perfect time for us to have a local team on the ground to serve our many Chicago and Illinois clients. We could not be more excited about our new team members. They are all are outstanding, and, importantly for us, embrace our firm culture and personalities. We know they will contribute, and help expand The BERO Group's standards of excellence." Read more…

Deborah Temkin Joins The BERO Group

Deborah Temkin

We are proud to announce Deborah Temkin has joined The BERO Group as a Director. She is a Chartered Accountant (South Africa) and a Certified Forensic Examiner (CFE). She also holds a Masters in International Management. She received her Bachelors of Commerce degree from the University of the Witwatersrand in Johannesburg, South Africa and her Honors in Accounting Science from the University of South Africa. Read more…

The Comprehensive Guide to Economic Damages

BVR Economic Damages Guide

The Comprehensive Guide to Economic Damages, 5th Edition edited by Nancy J. Fannon and Jonathan M. Dunitz, contains two chapters written by Rick Bero of The BERO Group.

Volume One

Part III Damages in Specific Industry Settings
Chapter 26. Patent Infringement Damages: Lost Profits and Royalties
By Richard F. Bero, CPA/ABV, CVA, CLP, and Autumn N. Nero, J.D

Chapter 27. Trade Secret Damages
By Richard F. Bero, CPA/ABV, CVA, CLP, and Jon Margolies, J.D.

Bridging the gap between the economics in damages cases and what the courts say about the calculations and evidentiary requirements, it provides a deep and rich resource, found nowhere else, for financial experts and attorneys seeking guidance on damage calculations.

Written from the perspectives of financial experts and attorneys, the guide blends the financial expert's mastery of accepted methods and procedures with the attorney's expertise in legal issues, while providing in-depth analysis and interpretation of the continually expanding body of case law. It describes the different types of damages and how to calculate them, while presenting the problems that may arise and how stakeholders can address them. With each successive edition of this guide, the authors have drilled deeper on the existing chapters and broadened the scope of damages topics covered.