Class actions, by their nature, involve large numbers of people, and class members can have a wide range of particular circumstances. That makes assessing individual damages from the aggregate a challenging exercise, a bit like untangling a knot. We've performed detailed assessments of individual versus aggregate damages in numerous cases, both at the pre-certification stage and at trials.
Credit Card Fees
This class action lawsuit involved allegations a financial institution was charging its credit card holders undisclosed foreign exchange fees on foreign currency transactions. We were hired to prepare an expert report quantifying total transactions and related fees over a 13-year period. Complete data was not available for all years and all credit card types, so we were required to develop an estimation methodology that would stand up to close scrutiny. We prepared a report and provided expert testimony. Our quantification methodology was accepted by the court and helped form the basis of the judgment.
Disputed Tax Donations
CHS was retained by counsel to provide an expert opinion on the considerations required to assess damages on an individual versus an aggregate basis in this class action which arose from a disputed tax shelter program. We performed various analyses, swore an affidavit and were cross-examined on our conclusions -- which were cited in the certification decision. The matter was resolved in a court-approved settlement.
Failed Labour Fund
When a labour-sponsored investment fund collapsed on allegations of mismanagement, we were retained to provide an opinion on the considerations appropriate to the awarding of individual damages. There were questions over the timing of valuations of the fund’s investments and the possibility of delayed write-downs, which made determining the underlying value of the fund at various times a complex issue. We performed an analysis and provided an expert report. The matter was resolved with concurrent certification and a court-approved settlement.