Services Offered
Freeman & Mills is a consulting firm providing expertise in accounting, auditing, economics, finance and business practices to counsel and management primarily in connection with business disputes, circumstances likely to lead to disputes and commercial litigation.
F&M was founded by Neill Freeman and Larry Mills in 1978. In 1994, F&M combined its practice with that of Putnam, Hayes & Bartlett (PHB), an international economic and business consulting firm. In 2000, after a series of mergers, PHB’s successor was acquired by a UK-based consulting firm. Effective July 1, 2000, the principals of F&M withdrew from the firm and reformed Freeman & Mills.
Litigation Support and Research Management
F&M provides litigation support to counsel in all aspects of commercial disputes. We work with counsel and clients in the initial evaluation of a case by examining the economic, accounting and financial elements of the central issues. We provide preliminary assessments of damages, and assist in developing settlement positions. We work with attorneys to develop litigation strategies, identify and select potential witnesses, assist in discovery, and design and manage technical research for quality control, consistency across experts, and cost efficiency. We often assist counsel in the preparation of discovery requests, especially where our knowledge of accounting, financial controls, SEC reporting, tax, and business management and planning practices are applicable.
We often take the lead in reconstructing and critiquing the work of opposing expert witnesses, and in preparing materials for use in the depositions and cross-examinations of those experts. We also serve as internal “devil’s advocates” and technical advisers to counsel whose experts must present highly technical quantitative arguments. Using either our own facilities or working with counsel, client, or outside vendors, we can facilitate management of documents and data, compile databases from documentary or electronic information sources, and perform financial, econometric, statistical, and operations analysis for use by counsel and expert witnesses.
Our 30 years of experience in providing this full range of litigation support services in many complex litigation and arbitration engagements has proven to be a valuable resource to counsel embarking on major litigation matters.
Expert Witness Testimony
One of the most important litigation support services F&M offers to counsel is expert witness testimony on liability and damages issues. Our Principals and Senior Advisors are experienced expert witnesses who offer expertise in a wide range of disciplines, including accounting, finance, economics and econometrics/statistics. Our senior staff brings credentials in a variety of fields and includes CPAs, PhDs, MBAs, and tax specialists. Our experts have appeared in the full range of state and federal courts. Our senior members have served as special masters, referees, arbitrators and mediators in commercial disputes and as court-appointed trustees in bankruptcy proceedings. We also work with counsel to support nonaffiliated experts within the litigation team.
Damages Measurement
Evaluating damage claims requires a thorough understanding of the fact situation at hand, the business and industry in question, the legal strategies of the parties, and the appropriate legal framework for damages. Our work on complex cases in a wide variety of industries and types of claims enables us to effectively formulate successful approaches while avoiding common pitfalls. In advancing or refuting a damages study for a client, we can choose from a wide variety of methods and analytical approaches. Our staff members offer skills in cash flow, financial and operations modeling; econometric analyses of pricing, demand and competition; cost accounting methods, treatment of variances and budgeting; statistical methods required for forecasting in the but-for-world and for measuring or incorporating uncertainty; securities analysis and valuation methods; financial reporting; tax issues; discount rates and calculation of prejudgment interest.
Causation Analysis and Liability Assessments
Economic theory and accepted business practices and standards are fundamental bases for evaluating liability in commercial disputes. When assisting counsel in the analysis of causation and liability, F&M brings its background in economic and financial theory, in-depth knowledge of financial reporting requirements and accounting standards, and practical business experience. We are skilled at establishing the relevance of diverse business information in our analysis of liability issues. Our knowledge and practical experience are complemented by analytical capabilities in finance, statistics, econometrics and financial modeling.
