Complex Commercial Litigation
In a dispute after sale of a large security company, the buyer claimed that the purchase price was overstated because the seller had not properly paid the Uniform Maintenance Allowance (UMA) for some of its California employees and otherwise had not included required expenses in its books and records. Bruce L. Ross & Company determined that the buyer’s expert improperly calculated damages based on a multiple of EBITDA and prepared an expert report critiquing his opinion. The engagement involved reviewing thousands of records to find evidence of when the seller actually did make the UMA payments and under what circumstances. The case settled prior to trial with no payment by the seller.