The trouble with assumptions – Why experts need to support their calculations

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Abstract: A financial expert’s testimony usually is based on assumptions. But the trouble with assumptions is that they’re not always supported by facts. This article examines a breach of contract suit in which the plaintiff relied on an economist to provide his loss calculations. But the court determined that he wasn’t qualified to act as a business valuation expert and that his calculations were speculative and unreliable. Wallace v. Kalniz Choksey Dental—Ralston, C.A. No. WD-12-048, July 5, 2013 (Ohio Court of Appeals, 6th Dis.)