BETWEEN THE NUMBERSCALCULATE NUMBER BETWEEN TWO NUMBERSHOW MANY BETWEEN TWO NUMBERSMIDDLE NUMBER BETWEEN TWO NUMBERSNUMBER BETWEEN 1 AND 3NUMBER BETWEEN ONE AND 3 A concerted effort by the IRS to improve its whistleblower reporting program is showing benefits to both sides. IRS whistleblowers collected $312 million in fiscal 2018, a huge increase over the $33.9 million received in the prior year. The IRS collected $1.4 Billion from the tips provided by these whistleblowers. FRAUD | BETWEEN THE NUMBERS After raising nearly $400,000 in donations on popular charitable giving site GoFundMe with an inspiring story of a homeless man who gave his last $20 to help a stranded woman motorist, the story is now alleged to be a fraud perpetuated by a couple in conspiracy with him. 2018 | BETWEEN THE NUMBERS November 15, 2018. After raising nearly $400,000 in donations on popular charitable giving site GoFundMe with an inspiring story of a homeless man who gave his last $20 to help a stranded woman motorist, the story is now alleged to be a fraud perpetuated by a couple in conspiracy with him. The three have been charged with second-degree

theft .

UNEMPLOYMENT IN A GLOBAL PERSPECTIVE The problem of rising unemployment during and after the Great Recession has a global character, as confirmed by data from the Organisation for Economic Co-operation and Development (OECD). The OECD's report "Society at a Glance 2011 - OECD Social Indicators" shows that unemployment rates overall have increased across the globe. Despite a few exceptions to AN EXAMPLE OF A PROPER EXPERT EXCLUSION UNDER DAUBERTDAUBERT QUESTIONS FOR EXPERT WITNESSDAUBERT STANDARD FOR EXPERT TESTIMONYMOTION TO EXCLUDE EXPERT TESTIMONYMOTION TO EXCLUDE EXPERT WITNESS An example of a proper expert exclusion under Daubert. In an unpublished opinion in re: Craig Moore vs. International Paint, L.L.C., (No. 13-30281, November 15, 2013) the Fifth Circuit upheld the District Court’s exclusion of an expert witness and the related Summary Judgment Order. The case provides a worthwhile primer on when

a Daubert

TOP 10 TRADE SECRET VERDICTS A trade secret, according to the World Intellectual Property Organization, is defined as: Broadly speaking, any confidential business information which provides an enterprise a competitive edge may be considered a trade secret. Trade secrets encompass manufacturing or industrial secrets and commercial secrets. The unauthorized use of such information by persons other than the holder

is

NEW STUDY SHOWS HIGH ANNUAL COSTS OF BEING A PUBLICNEW STOCKS GOING PUBLIC 2019ADVANTAGES OF GOING PUBLICGOING PUBLIC WITH YOUR COMPANYACCOUNTING FOR IPO COSTSIPO COSTS ACCOUNTING TREATMENTWHY IS GOING PUBLIC EXPENSIVE New Study shows High Annual Costs of being a Public Company. Ernst & Young (E&Y) recently released a study of the annual recurring costs of going public. Most studies on this topic focus on sales commissions and discounts paid to investment bankers. The other costs of going public are often not available, and are minimized by some

commentators.

519 BOYS NAMED “SUE” Based on data from the US Social Security Administration (SSA), at least 519 boys have been named “Sue” since 1880 in the US. Because the SSA only reports name counts for (i) years with 5 or more occurrences and (ii) people who signed up to receive a social security card, this number of boys named Sue is really a floor. TAX DEDUCTION AVAILABLE FOR PONZI SCHEME RELATED THEFTIRS PONZI SCHEME

LOSS

The current tax season brings some small consolation to victims of Ponzi schemes and certain other financial fraud, with the Internal Revenue Service (“IRS”) allowing duped investors to obtain partial relief in the form of a theft loss tax deduction. Internal Revenue Code (“IRC”) 165(a) provides that a theft loss incurred in a

transaction entered

“SHARK TANK” DOESN’T GET VENTURE CAPITAL VALUATION RIGHT ABC’s popular TV show, “Shark Tank,” shows negotiations between entrepreneurs and five Venture Capital (VC) investors (“the Sharks”). Before describing their company, business owners typically make a request in the following form: X thousands of dollars in exchange of Y percent ownership in the company. For example, in a recent episode, the two owners of BETWEEN THE NUMBERSCALCULATE NUMBER BETWEEN TWO NUMBERSHOW MANY BETWEEN TWO NUMBERSMIDDLE NUMBER BETWEEN TWO NUMBERSNUMBER BETWEEN 1 AND 3NUMBER BETWEEN ONE AND 3 A concerted effort by the IRS to improve its whistleblower reporting program is showing benefits to both sides. IRS whistleblowers collected $312 million in fiscal 2018, a huge increase over the $33.9 million received in the prior year. The IRS collected $1.4 Billion from the tips provided by these whistleblowers. FRAUD | BETWEEN THE NUMBERS After raising nearly $400,000 in donations on popular charitable giving site GoFundMe with an inspiring story of a homeless man who gave his last $20 to help a stranded woman motorist, the story is now alleged to be a fraud perpetuated by a couple in conspiracy with him. 2018 | BETWEEN THE NUMBERS November 15, 2018. After raising nearly $400,000 in donations on popular charitable giving site GoFundMe with an inspiring story of a homeless man who gave his last $20 to help a stranded woman motorist, the story is now alleged to be a fraud perpetuated by a couple in conspiracy with him. The three have been charged with second-degree

theft .

UNEMPLOYMENT IN A GLOBAL PERSPECTIVE The problem of rising unemployment during and after the Great Recession has a global character, as confirmed by data from the Organisation for Economic Co-operation and Development (OECD). The OECD's report "Society at a Glance 2011 - OECD Social Indicators" shows that unemployment rates overall have increased across the globe. Despite a few exceptions to AN EXAMPLE OF A PROPER EXPERT EXCLUSION UNDER DAUBERTDAUBERT QUESTIONS FOR EXPERT WITNESSDAUBERT STANDARD FOR EXPERT TESTIMONYMOTION TO EXCLUDE EXPERT TESTIMONYMOTION TO EXCLUDE EXPERT WITNESS An example of a proper expert exclusion under Daubert. In an unpublished opinion in re: Craig Moore vs. International Paint, L.L.C., (No. 13-30281, November 15, 2013) the Fifth Circuit upheld the District Court’s exclusion of an expert witness and the related Summary Judgment Order. The case provides a worthwhile primer on when

a Daubert

TOP 10 TRADE SECRET VERDICTS A trade secret, according to the World Intellectual Property Organization, is defined as: Broadly speaking, any confidential business information which provides an enterprise a competitive edge may be considered a trade secret. Trade secrets encompass manufacturing or industrial secrets and commercial secrets. The unauthorized use of such information by persons other than the holder

is

NEW STUDY SHOWS HIGH ANNUAL COSTS OF BEING A PUBLICNEW STOCKS GOING PUBLIC 2019ADVANTAGES OF GOING PUBLICGOING PUBLIC WITH YOUR COMPANYACCOUNTING FOR IPO COSTSIPO COSTS ACCOUNTING TREATMENTWHY IS GOING PUBLIC EXPENSIVE New Study shows High Annual Costs of being a Public Company. Ernst & Young (E&Y) recently released a study of the annual recurring costs of going public. Most studies on this topic focus on sales commissions and discounts paid to investment bankers. The other costs of going public are often not available, and are minimized by some

commentators.

519 BOYS NAMED “SUE” Based on data from the US Social Security Administration (SSA), at least 519 boys have been named “Sue” since 1880 in the US. Because the SSA only reports name counts for (i) years with 5 or more occurrences and (ii) people who signed up to receive a social security card, this number of boys named Sue is really a floor. TAX DEDUCTION AVAILABLE FOR PONZI SCHEME RELATED THEFTIRS PONZI SCHEME

LOSS

The current tax season brings some small consolation to victims of Ponzi schemes and certain other financial fraud, with the Internal Revenue Service (“IRS”) allowing duped investors to obtain partial relief in the form of a theft loss tax deduction. Internal Revenue Code (“IRC”) 165(a) provides that a theft loss incurred in a

transaction entered

“SHARK TANK” DOESN’T GET VENTURE CAPITAL VALUATION RIGHT ABC’s popular TV show, “Shark Tank,” shows negotiations between entrepreneurs and five Venture Capital (VC) investors (“the Sharks”). Before describing their company, business owners typically make a request in the following form: X thousands of dollars in exchange of Y percent ownership in the company. For example, in a recent episode, the two owners of

FINANCIAL REPORTING

For months, the American Institute of CPAs (AICPA) and American businesses have been requesting guidance from the U.S. Treasury Department and Internal Revenue Service (“IRS”) regarding changes made by the Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97) that disallowed the deductibility of entertainment, amusement, recreation and qualified transportation fringe expenses. 2018 | BETWEEN THE NUMBERS November 15, 2018. After raising nearly $400,000 in donations on popular charitable giving site GoFundMe with an inspiring story of a homeless man who gave his last $20 to help a stranded woman motorist, the story is now alleged to be a fraud perpetuated by a couple in conspiracy with him. The three have been charged with second-degree

theft .

HOLLYWOOD ACCOUNTING: ANOTHER GOOD REASON TO READ (AND Hollywood accounting (or Hollywood bookkeeping) is the term used to describe how studios report profits on movies and television series. It often carries a derogatory connotation because of various common practices which don’t follow Generally Accepted Accounting Principles (GAAP) or necessarily reflect market realities. These contractually-based practices often serve to reduce CFO INCENTIVE COMPENSATION NOT A KEY FACTOR IN ACCOUNTING The professors indicate as unnecessary actions taken by many boards to reduce CFO incentive compensation because of the belief that CFO incentive compensation was a key factor in causing accounting fraud. The professors found no statistical connection between CFO incentive compensation and the propensity to accounting fraud. BE SURE YOU’RE USING THE RIGHT CALCULATION WHEN ASSESSING Eric Madsen. Mr. Madsen is a Chartered Financial Analyst (CFA) charterholder and a Manager at Fulcrum Inquiry, a finance and economics consulting firm that performs economic damages analysis involving commercial litigation, financial investigations, HOW TO DO A NEUTRAL GOOGLE SEARCH What many people do not realize is that what they are seeing in Google search results may not be what others are seeing. Some of that is self-evident. Google results are different from one language to another and one country to another. In searches for service and retail businesses they go further in geo-tagging your

MARCH, 2015

A Ninth Circuit Bankruptcy Appellate Panel has ruled that certain tuition related amounts are dischargeable in bankruptcy. Generally, education related debts are not able to be discharged. ALLEGED KICKBACK SCHEME AT POPULAR PHARMACY A universal risk to companies that employ individuals and engage outside vendors are vendor billing schemes. The most recent instance to hit the news is an alleged kickback scheme involving advertising services provided to Rite Aid. The Central Penn Business Journal (“CPBJ”) reports that a former Rite Aid Vice President of Advertising has tentatively agreed COURT STRIKES EXPERT FOR “PARROTING” In Plantronics, Inc.v. ALIPH, Inc, ALIPH was successful in its bid to exclude the report of Plaintiff's infringement expert in this case involving the fit of ear buds. The Court found that the expert did very little analysis in order to conclude infringement: "Professor Katz never conducted any quantitative analysis (i.e., size, measurements, dimensions, or EMBEZZLER’S 401K IS OFF LIMITS TO VICTIM EMPLOYER Embezzler’s 401k is off limits to victim employer. Recently, in the matter of Richard Todd Thomas v. James S. Bostwick, the Northern District of California rejected a motion to dismiss, allowing a convicted embezzler to pursue retirement funds retained by

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LEGAL FEES IN DIVORCE DISALLOWED AS A BUSINESS EXPENSE A recent case in the Tax Court decision, Lucas, T.C. Memo. 2018-80 held that legal and professional fees related to an investment advisory firm partner’s divorce do not qualify as business expenses.  The Tax Court determined that … IRS WHISTLEBLOWERS SET NEW RECORD A concerted effort by the IRS to improve its whistleblower reporting program is showing benefits to both sides.   IRS whistleblowers collected $312 million in fiscal 2018, a huge increase over the $33.9 million received in … TINDER AGE DISCRIMINATION SUIT Tinder will provide an estimated $17.3 million in subscription features and cash to settle an age discrimination suit which claims the company overcharged its older generation of dating app users. Tinder’s policy of charging an … HAPPY TAX ALLEGES FALSE ADVERTISING CLAIM AGAINST H&R BLOCK Happy Tax is a smaller, lesser known competitor to H&R Block, one of the leaders in the tax preparation industry.  Happy Tax alleges that H&R Block misleads the public by advertising its upfront and transparent pricing … WHEN LITIGATION PROCEEDS ARE TAXABLE Economic damages should return a plaintiff to the position they would have been in “but for” the underlying improper act by the defendant.  They should not provide a windfall to plaintiff.  In a

similar vein, …

HISTORIC MATERIAL ADVERSE EFFECT (MAE) RULING ILLUSTRATES WAYS TO

ESTABLISH ONE

In December 2018, the Delaware Supreme Court upheld a judgement in the matter of Akron, Inc. v. Fresenius Kabi AG wherein the Court of Chancery for the first time ever found that a “Material Adverse …

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Feb 20

LEGAL FEES IN DIVORCE DISALLOWED AS A BUSINESS EXPENSE * By Renee Howdeshell

in Taxes

*

_February 20, 2019_

A recent case in the Tax Court decision, Lucas, T.C. Memo. 2018-80 held that legal and professional fees related to an investment advisory firm partner’s divorce do not qualify as business expenses.  The Tax Court determined that they were instead nondeductible personal expenses. One of Mr. Lucas’ arguments was that the millions in legal and professional fees …

Continue reading

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/02/legal-fees-in-divorce-disallowed-as-a-business-expense/

Feb 08

IRS WHISTLEBLOWERS SET NEW RECORD * By Renee Howdeshell

in Taxes

, Whistleblower Systems

*

_February 8, 2019_

A concerted effort by the IRS to improve its whistleblower reporting program is showing benefits to both sides.   IRS whistleblowers collected $312 million in fiscal 2018, a huge increase over the $33.9 million received in the prior year.  The IRS collected $1.4 Billion from the tips provided by these whistleblowers. In order to collect an

…

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/02/irs-whistleblowers-set-new-record/

Jan 23

TINDER AGE DISCRIMINATION SUIT * By Renee Howdeshell

in Class Action

, Damages

, Statistics

, Strategy

*

_January 23, 2019_

Tinder will provide an estimated $17.3 million in subscription features and cash to settle an age discrimination suit which claims the company overcharged its older generation of dating app users. Tinder’s policy of charging an extra $10 per month to its Tinder Plus users over the age of 30 has been called a  violation of …

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/01/tinder-age-discrimination-suit/

Jan 21

HAPPY TAX ALLEGES FALSE ADVERTISING CLAIM AGAINST H&R BLOCK * By Renee Howdeshell

in

Appraisal/Valuation

, Damages

, Economic Damages

,

Intellectual Property

*

_January 21, 2019_

Happy Tax is a smaller, lesser known competitor to H&R Block, one of the leaders in the tax preparation industry.  Happy Tax alleges that H&R Block misleads the public by advertising its upfront and transparent pricing plan is available “only from H&R Block.” Happy Tax contends this pricing strategy was Happy Tax’ innovation, and

that it …

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/01/happy-tax-alleges-false-advertising-claim-against-hr-block/

Jan 19

WHEN LITIGATION PROCEEDS ARE TAXABLE * By Renee Howdeshell

in

Appraisal/Valuation

, Class

Action , Damages

, Disgorgement

, Economic

Damages ,

Employer Discrimination

,

Failure to promote

, Fraud

, Intellectual Property

, Lost

Earnings ,

Medical malpractice

,

Personal Injury/Wrongful Death

,

Real Estate ,

Taxes , Valuation

, Whistleblower

Systems

,

Wrongful Termination

*

_January 19, 2019_

Economic damages should return a plaintiff to the position they would have been in “but for” the underlying improper act by the defendant.  They should not provide a windfall to plaintiff.  In a similar vein, whether such damages are taxable is generally related to how the proceeds would have been treated if obtained in the …

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/01/when-litigation-proceeds-are-taxable/

Jan 18

HISTORIC MATERIAL ADVERSE EFFECT (MAE) RULING ILLUSTRATES WAYS TO

ESTABLISH ONE

* By Nicole Liska in

Statistics

*

_January 18, 2019_

In December 2018, the Delaware Supreme Court upheld a judgement in the matter of Akron, Inc. v. Fresenius Kabi AG wherein the Court of Chancery for the first time ever found that a “Material Adverse Effect” (“MAE”) justified a buyer’s termination of a merger agreement.  Establishing a MAE has historically proven difficult,

even when the …

Continue reading

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/01/historic-material-adverse-effect-mae-ruling-illustrates-ways-to-establish-one/

Jan 16

RIHANNA SUES HER FATHER OVER USE OF THEIR SHARED NAME * By Renee Howdeshell

in Damages

, Disgorgement

, Economic

Damages ,

Expert Witnesses

,

Intellectual Property

*

_January 16, 2019_

Although many people know her simply as Rihanna, the worldwide superstar’s full name is Robyn Rihanna Fenty. Rihanna has trademarked the name “Fenty” and used it for various branded ventures, most notably her successful beauty line Fenty Beauty. Certainly the name has value and is worth protecting.   As reported by TMZ, Rihanna is currently endeavoring to …

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/01/rihanna-sues-her-father-over-use-of-their-shared-name/

Jan 03

DEFEND TRADE SECRETS ACT PROVIDES FEDERAL PROTECTION FROM

MISAPPROPRIATION

* By Renee Howdeshell

in Damages

, Economic Damages

, Expert

Witnesses ,

Intellectual Property

*

_January 3, 2019_

Defend Trade Secrets Act “DTSA” now provides federal protection against and remedies for trade secret misappropriation that previously existed via the state courts.  DTSA defines a  trade secret as: “All forms and types of financial, business, scientific, technical, economic, or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, …

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2019/01/defend-trade-secrets-act-protects-against-misappropriation/

Nov 15

COUPLE’S HOMELESS MAN GENEROSITY STORY IS AN ALLEGED FRAUD * By Renee Howdeshell

in Fraud

*

_November 15, 2018_

After raising nearly $400,000 in donations on popular charitable giving site GoFundMe with an inspiring story of a homeless man who gave his last $20 to help a stranded woman motorist, the story is now alleged to be a fraud perpetuated by a couple in conspiracy with him.  The three have been charged with second-degree theft …

Continue reading

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2018/11/gofundme-couples-homeless-man-generosity-story-is-an-alleged-fraud/

Nov 09

NFL PLAYER CLAIMS LOST EARNINGS OF $180 MILLION * By Renee Howdeshell

in Damages

, Economic Damages

, Lost

Earnings ,

Medical malpractice

,

Personal Injury/Wrongful Death

*

_November 9, 2018_

It has been reported that Sharrif Floyd, a former Minnesota Vikings defensive tackle, will sue the notable surgeon who he claims prematurely ended his NFL career.  Floyd is claiming damages of $180 million, an amount described as his lost future earnings in the NFL. Many have questioned the reasonableness of the reported claim.  While

NFL …

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PERMANENT LINK TO THIS ARTICLE: https://betweenthenumbers.net/2018/11/nfl-player-claims-lost-earnings-of-180-million/

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Between the Numbers is sponsored by Fulcrum Inquiry . Fulcrum Inquiry is a consulting firm whose services include calculation of litigation damages and related expert testimony, forensic accounting, financial investigations, economic analysis, and business appraisals.

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