Partnership Dispute, Accountant's Malpractice. Parties were two orthopedic surgeons who had shared office space and certain other aspects of their practices. Plaintiff doctor accused defendant doctor of faulty recording and receiving of patient and Medicare/Medical payments for services. Plaintiff alleged defendant diverted some of plaintiff's receipts for services to defendant's own account, or failed to bill for services in a timely manner, resulting in loss of revenue collected to plaintiff. Prior to litigation, parties mutually hired plaintiff's CPA to attempt to resolve differences. CPA issued written report that was very unfavorable to defendant and, in addition, did not conform to American Institute of Certified Public Accountants (AICPA) standards. Defendant cross-complained against CPA. Assisted counsel with allegations of malpractice against CPA; reviewed CPA's workpapers to determine factual basis for report, if any, and any validity to plaintiff's claim; assisted with questions for deposition of CPA.
Business Valuation, Contract Dispute. Defendant sold several medical clinics to plaintiff. A dispute arose over terms of sale, and defendant locked plaintiff out of clinics. Plaintiff sued to recover possession of clinics, and for damages. Reviewed clinic's books and records to analyze accounts receivable and payable and compared to values set forth in financial statements (which were part of sales agreement), which were representations of seller as to value of clinics. Calculated proposed adjustments to sales price, based on the clinic records.
Business Valuation, Partnership Dispute. Partnership dispute over medical practice. Valuation of pathology laboratories and pathology practice that relied on contracts with certain hospitals that were renewed annually.
Loss of Earning Capacity. Dentist involved in automobile accident claimed he could no longer practice dentistry due to injuries resulting from accident. On behalf of insurance company for driver of other vehicle, performed valuation of dental practice and projected dentist's future earnings from this practice. Compared loss of earning capacity as a dentist to dentist's future earnings in his chosen career change to the computer industry. Concluded no probable net loss in future earnings. Testified at trial.
Accountant's Malpractice. Plaintiff, an orthopedic surgeon, sued his CPA for malpractice. CPA induced plaintiff to invest his money, his medical corporation's money and his pension plan's money in real estate deals in which CPA had a financial interest - either as a principal or broker of second trust deeds, for which he received commissions. Traced transactions in real estate deals and reviewed professional literature for CPA's ethics violations. Prepared deposition questions for, and attended, CPA's deposition.
Trust and Estate Accounting. Attorney, acting as trustee for assets of elderly woman, and co-trustee accused of mismanagement of assets in trust. Traced activity in trust, accounted for assets, and analyzed report prepared by opposing expert. Deposition testimony.
Breach of Contract, Wrongful Termination. Former Chief Financial Officer of orthopedic clinic sued clinic principals for alleged wrongful termination and breach of contract to sell him their shares in clinic management company. Prepared deposition questions for plaintiff's expert economist and CPA. Performed loss of earnings and loss of future earnings calculations. Responded to other issues involving accounting principles and procedures.