2ndG members and professional staff have extensive litigation consulting and expert witness experience. Our members have testified in multiple jurisdictions before state and federal courts, regulatory authorities, grand jury, and alternative dispute resolution forums. These appearances included specialty courts such as bankruptcy and patents. 2ndG members have also served in the capacity of court appointed experts.
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- Intellectual property valuation (patents and trademarks), reasonable royalty, and breach of license agreements.
Examples For example - Damage opinions given in behalf of Plaintiffs in two different medical device infringement and breach of contract matters contributed to actual awards and final settlements approximating $1.5 billion.
Concluded matter examples:
Medtronic Sofamor Danek, Inc.
vs. Gary K. Michelson, M.D.,
and Karlin Technology, Inc. | United States District Court
for the Western District of
Tennessee-Western Division | 01-2373
M1V | Fastenetix, LLC vs. Medtronic
Sofamor Danek, Inc., and
Sofamor Danek USA, Inc. | United States District Court,
District of New Jersey | 06-2070
SRC-MAS | Close Section - Valuation of complex equity and debt securities.
Examples For example - Valuation of equity warrants representing 18 percent of a publicly traded healthcare services company and a precedent-setting legal position that unexercised equity warrants are executory contracts subject to voiding.
Concluded matter example:
American HomePatient, Inc.,
Debtor | United States Bankruptcy Court,
for the Middle District
of Tennessee | 02-08915-
GP-11 | Close Section Examples 2ndG members have acted in numerous cases, available on request; including bankruptcy fraud and preference matters. Close Section - Economic damages arising from breach of contract
Examples 2ndG members have acted in numerous cases, available on request. Close Section - Director and officer fiduciary duties; including "fairness" determinations in both public and private company settings, and lender liability matters.
Examples Concluded matter example:
Direct General Corporation,
Derivative Litigation | United States District Court,
for the Middle District of Tennessee
Nashville Division | 3:05-0158 | Howard J. Berger and Steven Fox
vs. Roger E. Mick, Donald J. Israel, Thomas F. Frist,
HCA – Hospital Corporation Of America,
Goldman Sachs & Co.,
Merrill Lynch & Co., and
J.P. Morgan Securities, Inc. | United States District Court,
for the Middle District of Tennessee
Nashville Division | 3-93-0457 | Close Section Examples Examples include advancing novel approaches to the analysis and determination of insolvency that have gained the favorable attention of the bankruptcy court and bar. In a "sum-of-the-parts vs. the whole" approach, multiple business units, lines, and subsidiaries are considered as severable businesses enterprises where enterprise value would likely exceed net asset values; and in a "look-back" analysis of nuclear energy utility construction-in-progress accounting eventual losses were deemed to have occurred substantially before recognition in debtor's audited financial statements. These approaches prevailed over substantial challenges and in the court's ultimate opinion had a material impact in determining the date of insolvency and thus the recovery of preference payments and certain voidable transactions.
Concluded matter examples (in addition to American HomePatient matter under the Valuation of complex equity and debt securities bullet above):
Chemical Separations Corporation
(a wholly owned subsidiary
of Foster Wheeler Corporation),
Debtor | United States Bankruptcy Court,
Eastern District of Tennessee | 3-82-01569 | Draughons College of Knoxville, Inc.,
Debtor | United States Bankruptcy Court,
Eastern District of Tennessee | 3:92-bk-30021 | Close Section - Compliance with federal and state security laws and regulations related to financial reporting and disclosure; including compliance with broker-dealer regulations, suitability standards and supervision.
Examples Concluded matter example:
Ervin General Partnership, L. Lee Landcaster, MD,
Dennis Smith, MD, Julie Benner Smith,
Edward Underwood, Camille Underwood,
Eric Saul and Karen Saul
vs. J.J.B. Hilliard, W.L. Lyons, Inc. | Arbitration Board of the
National Association of
Security Dealers, Inc. | 03-06449 | Mike Perros vs. J.J.B.
Hilliard, W. L. Lyons, Inc. | Arbitration Board of the
Financial Industry Regulatory
Authority (FINRA) | 07-01887 | Close Section - Expert qualifications and opinions have been specifically referenced as having been given substantial weight or as having substantive perceived value to the Trier of Fact in lengthy appeals in trial court and appellate decisions.
Examples One court opinion concerning the specific expert services of 2ndG Managing Member Michael Collins has become a frequently cited case reference as to a standard of how the Trier of Fact comes to weigh the relative value of opposing expert testimony (In re: American HomePatient, Inc., 298 B. R. 151, 173 (Bankr. M.D. Tenn. 2003)). The American HomePatient trial court opinion was affirmed at multiple appellate levels and the United States Supreme Court denied the petition for writ of certiorari. Close Section
2ndG is widely recognized for its reputation as a leader in early stage healthcare and financial industry investments. Our members have been founders, venture investors, board members, officers, and advisors to a wide range of healthcare (medical services, biotechnology and pharmaceuticals, clinical trials and research services, medical devices, etc.) and financial services (banking, investment management, broker-dealer, insurance and insurance brokerage, etc.) businesses.
These practical and notable real life experiences have enhanced the creditability of our expert services and opinions. In addition, our members have a combination of professional certifications and affiliations that when combined with practical real life experience that clearly distinguish them over other opposing experts. These include, among others:
- Certified Public Accountant (CPA)
- Certified in Financial Forensics (CFF)
- Accredited in Business Valuation (ABV)
- Accredited Valuation Analyst (AVA)
- Holders of FINRA licenses 7, 63 and 24 (General Securities Principal)
- Member of The Association of University Technology Managers (AUTM)
- Member of The Licensing Executive society of the United States and Canada (LES)
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