Dispute Resolution SOCOTEC

Elaine WHITE

Elaine WHITE

Dispute Resolution & Project Advisory Expert

Elaine WHITE

ABOUT

Ms. White is a Senior Principal at SOCOTEC in the Long Beach office. She has over 21 years of experience consulting to companies, government agencies and outside counsel on forensic accounting, economic damages and business valuation issues. Ms. White has testified as an expert witness in trial, arbitration and deposition.

ABOUT

Ms. White is a Senior Principal at SOCOTEC in the Long Beach office. She has over 21 years of experience consulting to companies, government agencies and outside counsel on forensic accounting, economic damages and business valuation issues. Ms. White has testified as an expert witness in trial, arbitration and deposition.

Professional Experience & Qualifications

  • SOCOTEC | Senior Principal
  • C2G International, LLC (formerly Criterium Group, LLC) – A SOCOTEC COMPANY
  • TM Financial Forensics, LLC•Navigant Consulting, Inc.
  • Tucker Alan Inc.
  • Eagon, Ratinoff & Company
  • Four Seasons Regent Pierre Hotel
  • Fidelio Software

  • Bachelor of Arts in Business Economics, University of California at Los Angeles
  • Hotel & Restaurant Management Diploma, Swiss Hotel Management School

  • Certified Public Accountant in California*
  • Certified Public Accountant in Delaware*
  • Certified in Financial Forensics
  • Chartered Global Management Accountant

  • Analyzed accounting records including financial statements, general ledgers, tax returns, and other internal financial documents to evaluate propriety of accounting procedures and accounting practices which affect reported profits and financial ratios
  • Determined economic damages on a variety of commercial and construction litigation matters, addressing issues including lost profits, increased costs, loss of value, and unjust enrichment
  • Studied contemporaneous accounting records including financial statements, bank records, and other supporting documentation, to determine the sources and uses of funds
  • In connection with business acquisitions, studied potential adjustments to the purchase price due to material adverse changes, non-compliance with GAAP, and other contractual provisions
  • Prepared business valuations for technology and manufacturing companies, assessing and selecting appropriate discount rates and income projections•Valued stock warrants using option pricing model methodologies
  • Other languages spoken include Mandarin and French.

Expert Accordion Background

REPRESENTATIVE PROJECTS

Formal Testimony Experience

•Association of Apartment Owners of Poipu Point v. Arcadia, Inc., et al.-Deposition•Bay Area Systems and Solutions, Inc. v. Helix Electric, Inc., et al. -Deposition

•Russell Sigler, Inc. v. David A. Whitaker – Deposition

•Thompson Builders Corporation v. Lafayette Town Center, LLC –Deposition / Trial

•Hughes & Company Construction, Inc. v. Weber Hung Family Trust and Geoffrey Weber & Priscilla Hung, Trustees – Deposition

•C.W. Driver, Inc. v. Legendary Structures, Inc., Land Mark Electric, Inc., Peri Form Work Systems, Inc., JD Reinforcing, Inc. (Consolidated Cases) – Deposition

•BRE/Point Parcel LLC v. Pavarini Construction Co. (SE), Inc., Artesian Pool Construction, Inc., Old Republic Surety Company (Arrival Deck) – Deposition

•Tanager NK, LLC and Nicholas A. Keros, v. Hankey Capital, LLC, et al. – Deposition / Arbitration

•BRE/Point Parcel LLC v. Pavarini Construction Co. (SE), Inc., Artesian Pool Construction, Inc., Old Republic Surety Company (Plunge Pool) – Deposition

•Lend Lease (US) Construction, Inc. v. Ziad Ghandour – Deposition / Arbitration

•SRK Engineering, Inc. v. Anton’s Service, Inc., et al. –Deposition / Arbitration

•Sang Kim v. United Auto Credit Corporation, et al. –Deposition

•Robert W. Yaap v. Cadence Industries, Inc., et al. – Deposition

•Graycon, Inc. v. Pasadena Hospital Association Ltd. Dba Huntington Hospital, et al. –Deposition / Trial

•PTG-HDR JV, Parsons Transportation Group, Inc., and HDR Engineering, Inc., v. AGL Constructors, et al. – Deposition / Trial

•Artemis Search Partners, Inc. v. CV Resources, Inc., et al. – Judicial Arbitration and Mediation Services –Deposition

•Thunder-Jones Contracting Group Inc., v. Reno Contracting, Inc., et al. – Superior Court of California – Deposition

•The Irvine Company LLC v. California Pacific Homes, Inc. (Serrano) –Superior Court of California – Deposition

•Gilbane Federal v. United Infrastructure Projects FZCO, et al. – United States District Court, Northern District of California, San Francisco Division – Deposition / Trial

•The Irvine Company LLC v. California Pacific Homes, Inc. (Oak Glen) –Superior Court of California – Deposition

•The Irvine Company LLC v. Western National Construction (Villa Siena) – Superior Court of California – Deposition / Arbitration

•The Irvine Company LLC v. California Pacific Homes, Inc. (Solana) –Superior Court of California – Deposition

•NuVasive, Inc. v. Madsen Medical, Inc. et al – United States District Court, Southern District of California – Deposition / Trial

•County of Fresno v. RSCO dba Rising Sun Company; Suretec Insurance Company –Superior Court of California – Deposition / Trial

•Kaiser Foundation Hospitals v. Hospital Building & Equipment Company, a Division of HBE Corporation – JAMS Arbitration –Deposition / Arbitration

•R. C. Construction Services, Inc. v. City of Rialto – Superior Court of California –Deposition / Trial

•Los Angeles Unified School District v. FH Paschen/SN Nielsen, Inc., et al. –Superior Court of California – Deposition

•United States of America ex rel. The Humane Society of the United States v. Westland/Hallmark Meat Company, Hallmark Meat Packing Company, Inc., Westland Meat Company, Inc., M&M Management, LLC, Cattleman’s Choice, Inc., Donald W. Hallmark, Donald R. Hallmark, Steve Mendell, Anthony Magidow as administrator with will annexed of the Estate of Aaron Magidow a/k/a Arnie Magidow, Westland, Joann Magidow, Westland Meat Co. – J.V. – United States District Court, Central District of California, Eastern Division – Riverside – Deposition

•Southwest Engineering, Inc. v. County Sanitation District No. 2 of Los Angeles County – Superior Court of California – Deposition / Trial

•Kracksmith, Inc., a California corporation doing business as American Business Fund, v. Louis Verdad, Inc., Kevin Hernandez, Louis Verdad, LMV, LLC, et al –Superior Court of California – Deposition / Trial

•Apex Development, Inc., v. Straub Construction Inc.; Star Insurance Company; American Contractors Indemnity Company; First National Insurance Company of America; Safeco Insurance Company of America –ADR Services, Inc. – Deposition / Arbitration

•Sprotte + Watson Architecture & Planning, Inc. v. Santee School District; William Clark – Superior Court of California - Deposition

•Richard A. Bonet v. Houalla Enterprises Ltd. dba Metro Builders & Engineers – JAMS Arbitration – Arbitration

Mediations

Participated in mediations, settlement negotiations and other proceedings presenting accounting, economic and financial analyses, and assisting in developing alternative methods to resolve disputes.

Construction

•Prepared and reviewed claims for cost and schedule impacts on a variety of construction projects, including schools, hospitals, hotels, high-rise buildings, power plants, highways and commercial, residential and mixed-use developments

•Prepared and reviewed claims resulting from changed conditions, deficient and defective designs, increased project scope, acceleration, constructive changes, differing site conditions, and delay and disruption

•Evaluated claims for lost profits resulting from the termination of an architectural service agreement with a school district, including the assessment of the architect’s historical financial performance and the level of revenues, costs and profits the architect would have earned or incurred but for the termination of the agreement

•Analyzed claims resulting from the alleged termination for default of a design build agreement for a hospital project, including the assessment of the methodology and assumptions underlying the claim, as well as the evaluation of the quantification of pending change order proposals and alleged errors and omissions.

•Analyzed claims for lost rents and increased costs due to the required remediation of construction defects in a multi-building luxury apartment development

•Performed job cost audits and reviews to determine compliance of billings and work scope with guaranteed maximum price construction contracts

•Evaluated claims for increased architectural and engineering fees resulting from construction delays on numerous school projects

•Analyzed claims for lost profits due to lack of bonding capacity resulting from a termination for cause by a general contractor, including an evaluation of contractor profitability, lost revenues, impacted period, contractor’s historical financial performance, and the California public works market economy

•Analyzed and evaluated damages associated with owner termination of a contractor for cause, including evaluating completion costs, consequential damages, and potential betterment adjustments

•Evaluated claims for unpaid work under an alleged time and material agreement, including analyzing and reconciling contemporaneous accounting records such as time sheets, payroll reports, supplier invoices and bank records

•Performed critical path schedule analyses to determine schedule impacts resulting from differing site conditions, increased project scope, deficient and defective designs, and insured events

•Evaluated allegations of mal-performance by a construction manager, including a review of contract requirements and actual performance

•Analyzed and evaluated contractor and surety claims related to projects terminated for convenience, including value for work performed and termination costs

•Performed job cost and other financial cost analyses and reviews

Commercial Damages

•Analyzed financial statements and other supporting documentation in a copyright infringement matter to determine the financial performance of an exercise video and addressed issues including royalty rates, licensing fees and apportionment

•Analyzed the costs recoverable under a warranty claim for defective exercise equipment, including actual and forecasted costs, historical failure rates and other impacts resulting from the supply of defective products

•Evaluated and analyzed claim for damaged inventory relating to manufacturing parts, considering obsolescence, pricing, and quantification issues

•Analyzed lost income attributable to the termination of an exclusive sales representative agreement related to the sale and distribution of medical devices

•Analyzed claims for lost rents and increased costs due to the required remediation of construction defects in a multi-building luxury apartment development

•Analyzed the value of on-going business enterprises for the purposes of partnership dissolution and family law matters

•Evaluated damages resulting from non-conforming component parts, including analysis of the repair history and related accounting cost records to identify excess repair and replacement costs, determination of appropriate assumptions and pricing methodologies for the damages claim, and evaluating the variable or fixed nature of the repair costs and other potential factors causing additional repair and rework costs

•Analyzed termination and breach of contract claims related to the termination of a locomotive maintenance agreement, including evaluation of the excess cost and measured mile methodologies used to quantify damages

•Evaluated damages claimed against a public accounting firm for the alleged failure to properly audit a financial institution that was seized by the FDIC, including evaluation of the causes for the bank’s failure and the damages methodology used by the plaintiff

•Developed model to analyze lost profit claims related to the supply of various pharmaceutical instruments and reagents and to evaluate the sensitivity of numerous variables

•Analyzed the lost rents and other damages claimed by a commercial property landlord as a result of an early termination of a lease by a big box tenant

•Evaluated and analyzed the damages claimed by purchasers of mortgage-backed securities which had declined in value as a result of alleged misappropriation of assets and misuse of funds by the issuer, including calculating damages under alternative causation and damages theories, analyzing the issuer’s accounting records to identify the sources and uses of cash, and modeling the performance of the securities assuming thatthe alleged wrongful acts had not occurred

•Analyzed damages resulting from the disruption to the operations of hotel and residential rental properties

•Evaluated the outstanding balance claimed by a factor related to a factoring agreement with a fashion designer; including performing analyses to quantify advances, applicable fees and expenses, and collections by the factor

•Performed analyses and reviews regarding various corporate formalities and studied contemporaneous accounting records including financial statements, bank records, and other supporting documentation, to determine the sources and uses of funds

•Evaluated the diminution of business value resulting in the alleged breach of contract and intentional interference with contractual relations by employees and independent contractors

•Performed business valuation for the purposes of a family law matter

•Analyzed lost wages claimed as a result of a personal injury incident

Entertainment & Sports

•Analyzed business plans, financial statements and market conditions to identify and evaluate damages and causation issues impacting the financial and operational performance of a start-up video-on-demand service provider

•Analyzed the damages claimed by an artist for alleged lost profits associated with current and future albums to the record label owned by the artist, including studying historical sales trends using statistical regression techniques; analyzing production and distribution costs to evaluate the damages claim; and calculating actual and projected royalties related to the allegedly infringing album to evaluate any offsetting benefits to the artist

•Utilized statistical regression techniques in a copyright infringement matter to demonstrate the correlation between airplay and album sales and supported findings based on historical sales trends and other empirical evidence

•Identified and evaluated appropriate methodologies to determine potential damages on a matter where a screenwriter alleged that his copyrighted work was the basis for a major motion picture

•Analyzed the financial results and changes in financial condition of a National Football League Member Club, including evaluating revenue trends for ticket sales, suite income, concessions, parking, merchandising and TV and radio revenue sources; performing comparisons to other NFL club local revenues; and reviewing the entity’s capitalization over time

Government Contracts

•Assisted government contractors in the preparation of requests for equitable adjustment, including quantification of additional costs incurred due to constructive changes and the impact of delays, disruption, inefficiencies and acceleration

•Assisted a government contractor in the preparation of a claim for wrongful termination, including evaluation of amounts earned and costs for pending and disputed change orders associated with added and changed work, delays and disruptions, and inefficiencies

•Analyzed the damages alleged by a Relator in a qui tam matter, including evaluation of causation issues and appropriate damages theories

•Evaluated the damages claimed by the United States Government under various liability scenarios and quantified the associated damages under appropriate damages theories

•Evaluated the financial condition and historical financial performance of a government contractor to assess the impact of a potential judgment against the contractor in a dispute with the government

•Analyzed revenues earned and costs incurred to evaluate alleged non-payment for work performed

•Reviewed claims for damages associated with the alleged violation of the Procurement Integrity Act

•Prepared cost impact studies resulting from the change in indirect rates to comply with Federal cost accounting standards

Project Advisory

•Analyzed the accounting practices of an Engineering, Procurement and Construction contractor to verify the recorded project costs and developed a comprehensive model to better evaluate and quantify the estimated costs at completion and to better monitor future costs and identify budget variances

•Assisted clients with Defense Contract Audit Agency audit requests or compliance issues in association with requests for equitable adjustments, settlement proposals, and contract modification proposals

•Assisted clients in identifying cost and schedule risks and evaluating potential methods of mitigating risks

•Assisted clients in planning the implementation of an enterprise scheduling system

Class Action & Employment Matters

•Evaluated allegations that a contractor inappropriately calculated and under-paid wages to employees

•Evaluated economic damages associated with alleged wrongful employment terminations

•Designated as claims administrator for the determination and distribution of settlement amounts paid by defendants to members of class action disputes

Lectures & Seminars

•Webinar Speaker – American Bar Association: Topic “Utilizing Job Cost Data To Present or Defend Against Construction Claims”•Guest Speaker – University of Southern California – Introduction to Business for Non-Majors: Topic “Accounting”

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