The plaintiffs contributed substantial sums of money to an oil and gas investment program created and managed by the defendants based upon the defendants’ representations of: (1) prior success with other investment programs; (2) the high returns to be achieved through the proposed investment program; and (3) the substantial tax advantages that the plaintiffs would receive. The plaintiffs alleged that this investment program failed to generate either the high returns or substantial tax advantages represented by the defendants. The plaintiffs also alleged that the defendants breached their fiduciary duties in their ongoing management of the investment program.
Econ One was retained by counsel for the plaintiffs to analyze damages for fraud and misrepresentation, breach of contract, and breach of fiduciary duty. Jeffrey Leitzinger submitted an initial expert report as well as two supplemental expert reports. Dr. Leitzinger also provided deposition testimony and was scheduled to testify at trial. The parties settled just prior to trial.