Skip to main content

Basics of Accounting for Lawyers 2012: What Every Practicing Lawyer Needs to Know

 
Author(s): Karen Kincaid Balmer, Darrick J. Hooker, Eric Alan Stone, Sonya Andreassen-Henderson, Lawrence M. Cirelli
Practice Area: Accounting, Corporate & Securities, Litigation
Published: May 2012
ISBN: 9781402417931
PLI Item #: 35423
CHB Spine #: B1958

Jamie is currently an Executive Director in Morgan Stanley Legal and Compliance Division and Senior Counsel for Morgan Stanley Private Bank, National Association.  Based in Chicago, Jamie provides legal advisory support across Morgan Stanley’s Private Banking Group that includes the firms’ lending, mortgage, cash management and cards products and services.  Jamie also supervises the group’s tri-party pledge team.

Prior to joining the Private Banking Group legal team, Jamie served as in-house litigation counsel for Morgan Stanley’s Wealth Management division.  In that role, Jamie has, among other things, first-chaired arbitration hearings before FINRA Dispute Resolution, responded to customer complaints, responded to regulatory inquiries from FINRA, the SEC and state securities regulators, conducted internal investigations, written and amended compliance policies and provided risk management training to firm employees.

Before joining Morgan Stanley, Jamie was a Partner and an Associate with the Chicago law firm of Neal Gerber & Eisenberg, LLP, where he was a member of the Securities Litigation Practice Group.  Jamie began his legal career as an Associate with the Chicago law firm of Schwartz, Cooper, Greenberger & Krauss, Chtd., where he handled a variety of both litigation and transactional matters, primarily on behalf of various banks and financial institutions.

Jamie graduated cum laude from the University of Illinois College of Law in 1999, where he was a member of the Elder Law Journal and served as its Administrative Editor from 1998-1999.  He received his Bachelor of Arts degree, majoring in Political Science and Economics, from Northwestern University in 1996.  His senior thesis, Evaluating Transit Subsidies in Chicago, won both the Student Paper Competition at the Metropolitan Conference on Public Transportation in Chicago in June 1996 and the Undergraduate Paper Competition at the Transportation Research Forum in San Antonio in October 1996.  Jamie later presented a co-authored version of that paper with Professor Ian Savage, Northwestern University, to the Transportation Research Board in Washington, D.C. in January 1997, which was also published, 1 JOURNAL OF PUBLIC TRANSPORTATION 93 (1997).


Autumn C. Bailey is the Director of Internal Audit for the YMCA of Metropolitan Chicago, where she is responsible for developing and implementing strategic risk-based audit and compliance programs. In her role, Ms. Bailey is responsible for identifying, documenting and reporting financial, operational and regulatory compliance matters to the Audit Committee of the Board of Managers. In addition, Ms. Bailey provides ongoing consultation to YMCA Senior Management regarding opportunities for internal control and process improvements.

Education/Professional Credentials:
B.S. Finance, DePaul University, 2001
UCLA Extension, Certificate in Accounting

Certified Internal Auditor (CIA)
Institute of Internal Auditors (IIA), Member
National Association of Black Accountants (NABA), Member

Experience:
Ms. Bailey began her career in the Advisory practice at PricewaterhouseCoopers LLP where she gained expertise in a variety of business consulting specialties including corporate dispute analysis, forensic investigations, internal audit and performance improvement. Ms. Bailey's clients included public companies within the financial services, manufacturing and hospitality industries. Following her tenure at PricewaterhouseCoopers and before joining the YMCA, Ms. Bailey worked as a risk consultant and internal auditor for Crowe Horwath LLP where she specialized in the governmental and not-for-profit industries.


Profile

•  Chet Joshi is a Senior Manager in Ernst & Young’s Tax Technology & Transformation group. This group of professionals provides an array of tax function consulting services to improve the operating performance of corporate tax departments. His focus is on data and the underlying processes that create it, whether at source, staging, or analysis stages, so it can be turned into useful information - when data is turned into information provides valuable insights about the business.

Experience

•  Chet has over 25 years of diversified accounting, tax, technology, business process, and data management experience and has focused much of his career in improvement of tax process, technology and controls, including responsibility of technology related project management. He combines process and technology experience to elicit the best solution, and often a right one, that creates value for business organizations. His deep experience in business process was strengthened by working on projects involving IT compliance audits, accounting/fraud investigations, and litigation support. His technology experience was built by designing and implementing solutions resulting in enterprise value based on data governance principles.

•  Chet assists his clients in management of tax technology strategy & roadmaps, business transformations including technology for ERP implementations/upgrades or financial consolidation implementations, tax data management applications, and tax data retention projects to meet the needs of the Tax function.

•  Moreover, Chet has extensive experience steeped in accounting and finance business processes from conducting financial investigations, which included IT data governance, compliance  principles and forensic technology. Additionally, such project require a deep knowledge of accounting and finance business processes to understand how underlying data is created in financial systems.

Clients served

•  Chet has served many multi-national, and domestic, Fortune 500 clients in providing diversified services such business process change, technology implementations, investigations, litigation, and analytics. Below is a sample of industry experience:

•  Manufacturing

•  Automotive

•  Financial Services

•  Diversified Global Conglomerate 

•  Insurance

•  Pharmaceutical

•  Forest Products

•  Oil & Gas

Education and certifications

•  Bachelor Science degree in Accounting from the University of Illinois – Chicago.

•  Master’s in Business Administration degree from the University of Chicago Booth School Of Business.


Darrick Hooker is a counselor and a litigator who routinely counsels and represents clients with a variety of intellectual property issues, including patent litigation and counseling relating to litigation, as well as trade secret, trademark, copyright, and entertainment matters.  He has extensive transactional and litigation experience representing clients, including but not limited to, the medical devices, pharmaceuticals, healthcare, computer software, chemicals, mechanical devices, industrial, renewable energy, utility, mechanical engineering, and automotive/transportation industries.  Darrick has extensive experience in initial case evaluation and assessment, development of case strategy and settlement options, all phases of discovery, Markman hearings, trial strategy development, trial, and post-trial proceedings and appeal.

He also assists his clients with licensing, risk assessment and management, internal governance, compliance, and due diligence investigations in connection with licensing transactions, mergers, and acquisitions, namely those involving intellectual property portfolio acquisitions.  As a result, he has developed a reputation for having an in-depth understanding of a client’s business and technology to successfully identify and manage global assets, such as licensing and “freedom to practice” analyses of products, methods, and packaging.  This includes conducting patent landscape investigations, and opinion work such as patentability, validity, non-infringement, and freedom-to-operate opinions.

His entertainment practice includes advising and counseling clients on intellectual property, licensing and other contract rights, publishing rights, rights of publicity, and branding issues.

As a commercial litigator, Darrick has advised clients on and litigated cases involving complex commercial matters, including cyber security, product liability, premises liability, and breach of commercial agreements.

Darrick is admitted to practice before the United States Patent and Trademark Office.  He serves on the Board of Directors of the Institute for Science & Education Technology, Free Spirit Media, and the Black Entertainment and Sports Lawyers Association.  He is also a member of the Intellectual Property Advisory Board at the Maurer School of Law at Indiana University-Bloomington.


Derek P. Linde is Associate General Counsel & Assistant Secretary at Illinois Tool Works Inc. (NYSE: ITW). 

ITW is a Fortune 200 global diversified industrial manufacturer of value-added consumables and specialty equipment with related service businesses. ITW focuses on profitable growth and strong returns across worldwide platforms and businesses. ITW's revenues totaled $17.8 billion in 2011, with more than half of these revenues generated outside of the United States.

Mr. Linde joined ITW's legal department in 2011. His practice focuses on acquisition and divestiture transactions. In addition, his practice includes a variety of business transactions, together with dispute resolution, corporate finance and corporate governance matters. 

Prior to joining ITW, Mr. Linde was a partner in the Chicago office of Winston & Strawn LLP, where he focused on merger and acquisition transactions, private equity, corporate governance and other finance and business transactions.

Mr. Linde is a graduate of Vanderbilt University School of Law and the University of Missouri-Columbia. He is a member of the bar of the State of Illinois.


Eric Sussman is Kaye Scholer's Chicago Co-Chair of the White Collar Litigation and Internal Investigations Practice. Mr. Sussman concentrates his practice in complex civil and white collar criminal litigation, representing individuals and corporations in proceedings involving the SEC, DOJ and other governmental agencies. He regularly counsels healthcare companies and private equity funds on compliance and regulatory matters, including Foreign Corrupt Practices issues.

Prior to joining Kaye Scholer, Mr. Sussman was Deputy Chief of the Financial Crimes and Special Prosecutions Section for U.S. Attorney's Office, Northern District of Illinois, where he supervised the successful prosecution of a wide array of cases, including complex securities fraud, tax offenses, regulatory violations, money laundering, racketeering, and computer-related investigations.

Mr. Sussman was also the Food & Drug Administration Coordinator for the U.S. Attorney's Office, where he worked with officials at the FDA and USDA to investigate and prosecute numerous criminal enforcement actions. He served as the lead prosecutor for a broad range of complex corporate fraud and regulatory investigations involving securities violations, corporate tax offenses, bank fraud, violations of food safety laws and workplace safety laws. Mr. Sussman has tried 29 federal cases, serving as first chair in 23 of them, and has briefed and argued multiple appeals before the U.S. Court of Appeals for the Seventh Circuit.

Among the cases that Mr. Sussman handled personally were the successful corporate securities and tax fraud prosecution of Conrad Black and other top executives of Hollinger International, relating to the embezzlement of millions of dollars from the corporation; the successful prosecution of one of the largest electrical contracting companies in the country for willfully violating OSHA regulations; the successful prosecution of the largest food-storage warehouse company in the Midwest and its president for fraud and food safety violations for their storing of tons of adulterated food products; and the successful prosecution of the former Chicago Police Department's chief of detectives and other organized crime associates who were convicted of operating a multi-million dollar jewelry theft ring.

Prior to joining the U.S. Attorney's Office, Mr. Sussman served as a Law Clerk to the Honorable George M. Marovich, N.D. of Illinois.

Mr. Sussman began his legal career at Sidley & Austin in the Product Liability Litigation Group, where he coordinated the defense of multi-district state and federal AIDS/Hemophilia litigation.


James J. Grogan is both the Deputy Administrator and the Chief Counsel (DACC) of the Attorney Registration and Disciplinary Commission of the Supreme Court of Illinois (ARDC). For over 37 years, he has investigated and prosecuted hundreds of charges of lawyer misconduct and has argued dozens of disciplinary cases in the Supreme Court of Illinois. He is a Past President of the National Organization of Bar Counsel (NOBC), the bar association of lawyer regulators. For over 30 years, Mr. Grogan has taught legal ethics, first at the DePaul University College of Law and then at the Loyola University of Chicago School of Law, where he is an Adjunct Professor. He has presented hundreds of speeches, lectures and workshops to law firms, bar associations, corporations and judicial and governmental groups and agencies on various professional responsibility and lawyer regulation topics.


Mr. Mathieu has extensive experience providing forensic, litigation and valuation services in the United States and abroad. His significant experience encompasses conducting analyses for dispute-related damages involving breach of contract claims, lost profits analysis, intellectual property, mergers and acquisitions, business valuation, accounting disputes and fraudulent conveyances. Mr. Mathieu also conducts complex investigations related to accounting irregularities and management conduct. He has served as both testifying expert and consulting expert in various matters involving complex damage, valuation and accounting issues. Mr. Mathieu has experience in a variety of industries including, real estate, manufacturing and distribution, healthcare, and professional services.

Mr. Mathieu conducted an internal investigation on behalf of a Special Committee of the Board of Directors relating to the $2.3 billion restatement of three years of financial statements for a $10 billion publicly traded company. The investigation involved interpreting and communicating complex accounting issues such as revenue recognition practices and deferral of costs as well as identifying, interviewing, and collecting electronic data for over 200 current and former employees. An extensive electronic data review was performed with 25 to 30 individuals reviewing emails to identify potentially relevant documents. Findings were reported to the Board of Directors and the SEC. This was the largest restatement in the United States in 2005.

Mr. Mathieu performed a financial analysis of a bankrupt multi-billion dollar publicly traded insurance company to determine the major reasons of its failure. The analysis entailed complex financial analysis of the company’s performance and as well as its peers and the industry. The results of the analysis showed that the major hurricane seasons in 2004 and 2005 caused the demise of the company and not certain decisions of management or the delay in the issuance of the financial statements.

The results of Mr. Mathieu’s analyses have been included in presentations and reports to the Securities and Exchange Commission, the United States Department of Justice, law enforcement agencies including the FBI, boards of directors, investors, arbitration panels, mediators, and insurance companies.

Mr. Mathieu co-authored chapters in both the Business Valuation Resources book entitled Guide to Lost Profits for Experts and Attorneys and The Litigation Services Handbook 2008 Supplement, and co-authored an article on damages in the Journal of Accountancy published by the AICPA. In addition, he has instructed on the topic of lost profits in numerous venues, including industry conferences and web based seminars.

Mr. Mathieu has experience with Big 4 Accounting firms, and previously served as a managing director in FTI Consulting’s Forensic and Litigation Consulting practice. He is a Certified Public Accountant, Certified in Financial Forensics and Accredited in Business Valuation. Mr. Mathieu is a past member of the AICPA’s Forensic and Litigation Services Committee and the former chair of the Webinar Task Force. He has taught valuation and damages at numerous venues, including to members of the Chinese Appraisal Society. Mr. Mathieu is a published author in the areas of forensic accounting and damages.

EDUCATION

M.B.A., J.L. Kellogg School of Management, Northwestern University

B.B.A., Loyola University

 

PROFESSIONAL CERTIFICATIONS

Certified Public Accountant – Illinois, Louisiana

Certified in Financial Forensics

Accredited in Business Valuation

 

PROFESSIONAL ASSOCIATIONS

AICPA Forensic and Valuation  Conference – Committee member (2014)

AICPA Forensic and Litigation Services Committee, past member (2008-2010)

AICPA Forensic and Litigation Services Web Seminar Task Force, chair (2008-2010)

American Institute of Certified Public Accountants, member

ICPAS Fraud Conference – Chair (2014)

ICPAS Fraud Conference – Planning Committee, member (2010-2012)

Illinois Certified Public Accountants Society, member


Lisa Snow is a Managing Director at Duff & Phelps in the Chicago office and part of the Disputes and Investigations practice. She possesses over 20 years of experience providing both expert witness testimony and financial valuation damages analysis in complex litigation and commercial dispute matters. Lisa has led numerous corporate investigations addressing a broad range of accounting and financial inquiries.

Lisa serves as an expert in matters in state and federal court as well as in arbitration. Lisa recently served in US District Court, Northern District of Illinois as Receiver of K.I.P., LLC and previously for Central Coast Nutraceuticals. Her industry experience includes financial services, professional services, healthcare, insurance, workers’ compensation, telecommunications services and equipment, and consumer goods. She performs work involving damages analysis, lost profits, forensic accounting analysis, data analysis, industry and market analysis, revenue and cost analysis, purchase price adjustments, sales history and pricing analysis

Lisa has been involved in many highly publicized and noteworthy cases including the Spamhaus v. e360 matter where she served as the testifying damages expert.  In a decision that supported Lisa’s testimony, plaintiffs were awarded $27,000 on a claim for over $120 million. The Seventh Circuit later reduced the award to $3, because, as Lisa testified in the district court, the award was based on lost revenue not lost profits.

Lisa serves as Vice-Chair for the Catherine Cook School Board of Trustees. She also serves on Board of Directors for Women Employed.  She sits on the Board of Governors for the Metropolitan Planning Council, having previously served as Treasurer.  Lisa is a Chicago Co-Founder for the Women in Law Empowerment Forum (WILEF).  Lisa was a Vice-Chair for the Chicago Bar Foundation Investing in Justice Campaign in 2014.  She is a member of International Women’s Forum of Chicago and The Economic Club of Chicago where she serves on the Membership Committee. Lisa presents annually at the Practicing Law Institute’s Accounting for Lawyers course.

Lisa holds a Bachelor of Science degree from the University of Vermont as well as a Master of Business Administration from the University of Chicago’s Booth School of Business, with concentrations in finance and business strategy.


Mr. LoGiudice has been presenting for PLI for almost 10 years.  He combines the same engaging presentation style for PLI as he uses when testifying in court.  He makes complex accounting concepts (and damage measurements) simple and easy to understand.

Mr. LoGiudice has testified in federal and state courts throughout the United States on lost profits, economic damages, and fraud measurements.  He has testified in the manufacturing, hospitality, construction, and medical services (physicians, hospitals, and schools) industries.  He has testified in partnership disputes and valuations; construction delay and defect disputes; manufacturing supply chain disruptions; restaurant and hotel fraud and lost profits cases; and business interruption losses for various insurance policy holders and companies.

Mr. LoGiudice passed the CPA exam in 1975 and holds the ABV (Accredited in Business Valuations) and CFF (Certified in Financial Forensics) credentials issued by the AICPA (American Institute of Certified Public Accountants).  In fact, Mr. LoGiudice sits on the AICPA task force that writes the CFF exam that CPAs must pass to obtain the CFF credential.


Professional Summary

Resourceful, results-oriented risk, compliance and investigations professional accomplished at both leading teams through fast-paced and high stakes investigations and working collaboratively and cost-effectively with business personnel to manage ethics and compliance risks.  Strong executive presence, project management and constructive communication skills, with international experience.

Professional Experience

PNC Bank, N.A.   2011 – Present

Vice President – Enterprise Fraud Management, Downers Grove, Illinois  2011 – Present

Lead a specialized team focused on preventing, detecting and investigating suspicions of mortgage fraud for PNC’s mortgage business.  In this leadership role, extensive involvement in team and individual performance management, professional development and initiatives around strong, constructive team engagement.  Also consistently demonstrate strong risk management focus and success in leveraging intelligence obtained from investigations, industry interactions and discussions with law enforcement for mortgage fraud awareness, prevention and detection purposes within PNC’s mortgage business.

PricewaterhouseCoopers LLP 1998 - 2011

Director of Forensic Services, Chicago, Illinois      2002-2011

Manage diverse teams through high profile, time sensitive, complex investigations for public and private companies.  Interact with Board of Directors, senior executives, counsel and regulatory personnel.  Extensive experience with global manufacturing and service companies. 

  • Provide cost-effective, realistic guidance on leading practices for internal investigations, risk mitigation, fraud prevention and compliance based on extensive investigations experience.
  • Drive focused, results-oriented investigations that promptly and efficiently address key stakeholder needs, including those of auditors, the SEC, and other regulatory and law enforcement agencies.
  • Concisely communicate internal control considerations, process improvement recommendations and investigation findings to senior management, Audit Committees, Boards of Directors and counsel.
  • "On call" expert for internal audit and compliance teams as they respond to a wide range of Sarbanes-Oxley "whistleblower" communications, address critical fraud, internal control and compliance risks both proactively and reactively and fulfil fraud, ethics and compliance training requirements.
  • Advocate for and advise companies on M&A agreement terms, including working capital and purchase price clauses and adjustments; analyze contract terms and supporting documentation to frame persuasive, supported positions and adjustment calculations.
  • Conduct investigative procedures on consecutive bank closings with the FDIC, with an in-depth understanding of the FDIC investigation process, protocols and focus.

Manager in Transaction Services, Dallas, Texas/Chicago, Illinois   2000-2002

Led due diligence teams in operational and financial analysis of prospective acquisition targets, with emphasis on rapid, relevant findings on quality of assets, earnings and projected cash flows.  Extensive experience with in-bound capital, manufacturing and energy-related acquisitions.

  • Led due diligence teams assessing financial performance, creating and refining cash flow models and identifying and communicating key findings/recommendations to deal teams and client executives; advised and collaborated on strategic goals and due diligence activities.   
  • Advised on incorporating key due diligence findings into pricing and contract terms and provided insight into profitability and cashflow to maximize deal value and address areas of risk.

Global Capital Markets Group Manager, London, UK    1998-2000

US GAAP and SEC specialist to foreign private issuers preparing to IPO and on 1933 and 1934 Act requirements.  Advised companies on requirements for accessing US capital markets through registration with the SEC and guided the accounting and financial reporting components of their SEC filings.

Coopers & Lybrand LLP, Kansas City, Missouri     1995 - 1998
Auditor

Conducted external audits for public and private companies, prepared financial statements, drafted footnotes and advised on accounting/reporting requirements.  Extensive regulated industry experience.

Credentials & Education

Certified Public Accountant (CPA), Certified in Financial Forensics (CFF)
Certified Fraud Examiner (CFE)
AICPA Member

Masters of Accountancy, University of Missouri-Columbia, 1995
Bachelor of Science, Business Administration, Summa Cum Laude, Columbia College, 1993

Presentations & Publications (selected)

  • Co-Chair for the 2010-2013 annual AICPA Forensic/Business Valuation+ National Conference planning committee, committee member 2008-2009
  • Chair of the Practising Law Institute Basics of Accounting program (Chicago) 2008-2012
  • Chair of the Practising Law Institute Pocket MBA for Attorneys program (Chicago) 2010-2011
  • Co-author of "Insights from an M&A Monitor"; Executive Counsel, July/August 2009
  • Contributing author of A Guide to Forensic Accounting Investigation, John Wiley & Sons, Inc., 2006 1st edition and 2012 update
  • Frequent speaker at mortgage fraud risk management or compliance-related conferences, including the Mortgage Bankers Association (MBA) National Mortgage Fraud Issues Conference (2012, 2014), American Conference Institute (ACI) Mortgage Fraud conference (2013), Predictive Methods conference and others
  • Presentations to numerous Fortune 500 insurance, energy, financial services and manufacturing companies  on compliance, investigations, accounting and regulatory topics
  • Adjunct faculty, DePaul University, Chicago, Illinois, Detecting and Investigating Financial Fraud, Winter 2004, periodic guest lecturer 2005-2007
  • Instructor of Foundations of Consulting for PricewaterhouseCoopers Advisory new hires 2009-2010
  • National Association of Women Lawyers (NAWL) Annual General Counsel Institute, 2006 -2009 on the Foreign Corrupt Practices Act, auditor interactions, risk areas for attorneys and other compliance topics

Awards & Organizations

  • PricewaterhouseCoopers Chairman's Award for creating and leading the "Women Leaders in Financial Services" initiative 
  • Young Women's Leadership Charter School Board Member and Board Development & Membership Committee Chair


Teressa Barner is a Director in the Midwest Capital Markets and Accounting Advisory Services (CMAAS) team that is part of Pricewaterhouse Coopers' Transaction Services practice. CMAAS offers a wide range of accounting and financial reporting services relating to US GAAP, IFRS, and SEC rules and regulations. Teressa is based in the Firm's Chicago, Illinois, office.

Teressa has over 15 years of professional experience extensive financial markets and energy industry experience. Her focus has been in financial instruments, energy and commodities trading and marketing, risk management, hedge accounting compliance and processes.  

Teressa serves as a U.S. GAAP and IFRS Financial Instruments accounting and financial reporting Instructor and Specialist within Transaction Services and assists large U.S. and international companies in the accounting for complex transactions and the implications of financial and accounting structuring. She has assisted clients with complex technical accounting and reporting matters and has been involved with numerous debt and equity offerings. 


As a Certified Public Accountant, holder of the AICPA's Certified in Financial Forensics accreditation, a Certified Fraud Examiner and a Certified Forensic Accountant, Karen's areas of expertise include litigation services, generally accepted accounting standards, auditing standards compliance, fraud investigations, evaluation and implementation of internal controls, generally accepted accounting standards and international accounting standards. Karen has performed investigative and FCPA compliance work for more than twenty five years in numerous countries around the world.


A partner in the Litigation Department, Eric Stone divides his practice between general commercial litigation and patent litigation.  He has litigated and tried cases in State and federal courts across the country, and in arbitrations here and overseas. 

Significant commercial cases include:

  • Private equity funds in litigation regarding the purchase or sale of various portfolio companies;
  • Trustees of a State’s largest municipal pension plans in an action against their former actuaries;
  • A leading technology and services company in employment litigation;
  • A major medical device manufacturer in a series of product liability class actions; and
  • Songwriters and music publishers in litigation to set the rates that online music providers pay to perform their music.

Significant patent cases include:

  • Genentech in litigation over a pathbreaking patent disclosing a method for creating antibodies using recombinant DNA techniques.
  • Biogen Idec in litigation regarding recombinant beta interferon.
  • Craig Thompson, M.D., the President of the Memorial Sloan Kettering Cancer Center, in litigation related to Dr. Thompson’s prior work in cancer metabolism at the University of Pennsylvania.

Eric also maintains an active pro bono practice, and is a Trustee of the Lawyers Committee for Civil Rights Under Law.

Eric served as a notes and comments editor of the New York University Law Review and was elected to the Order of the Coif. Before law school, Eric participated in the New York City Urban Fellows program, working at the New York City Department of Correction.

Practices

  • Litigation
  • Employment
  • General Commercial Litigation
  • Insurance
  • Intellectual Property Litigation
    - Patent & Other Scientific
  • International Arbitration
  • Product Liability

Education

J.D., New York University School of Law, 1997magna cum laude
B.A., Williams College, 1993magna cum laude, Phi Beta Kappa

Clerkship

Hon. Charles P. Sifton, U.S. District Court, Eastern District of New York


Curtis has over 25 years of business valuation and litigation consulting experience. Industries served include wine/vineyard industry, financial services, real estate, professional service firms, wholesale and retail, alternative energy and manufacturing. He has performed forensic investigations in connection with partner and partnership disputes, shareholder disputes, damage analysis involving breach of fiduciary duty claims in securities litigation; calculation of economic damages and lost profits in cases involving misappropriation of trade secrets, product liability claims and wrongful termination cases. He has consulted on and testified in a broad of cases involving:

  • Misappropriation of Trade Secrets
  • Breach of fiduciary duty actions against investment advisors
  • Economic damages and earning loss
  • Actions against professionals
  • Construction claims and damages
  • Disputes arising out of Buy/Sell agreements
  • Business acquisitions and valuation
  • Personal injury and wrongful death claims
  • Solvency and fraudulent conveyance issues

Education & Professional Credentials

  • Honorary Doctorate of Business Administration—Golden Gate University
  • MBA/Taxation — Golden Gate University
  • BA/Accounting — Golden Gate University
  • Certified Public Accountant, licensed in 1978 in California
  • Certified in Financial Forensics in 2008 by the American Institute of Certified Public Accountants

Professional Affiliations

  • Past Trustee and Chair — Board of Trustees, Golden Gate University
  • Board Chair — Rotary Foundation, San Francisco
  • Member Dean's Advisory Board — School of Accounting, and Golden Gate University
  • Co-Chair — PLI "Accounting for Lawyers"
  • Business Valuation instructor — Association of Insolvency Restructuring Advisors
  • Member — Association of Insolvency Restructuring Advisors
  • Member — American Institute of Certified Public Accountants (AICPA)
  • Member — California Society of CPAs (CalCPA)
  • Member — National Association of Certified Valuation Analysts (NACVA)


Larry is a trial lawyer and a Fellow of the American College of Trial Lawyers. His practice focuses on complex business litigation, including disputes among shareholders, owners, officers and directors of companies, fiduciary duty, contracts, false advertising, trade secrets, non-competition agreements and unfair competition claims. He also represents clients in partnership and corporate dissolution actions. His experience as a certified public accountant brings a unique skill set and perspective to these types of matters. A significant part of his practice also involves the defense of consumer class actions. In addition, Larry handles professional liability and product liability litigation. He has tried numerous jury and court trials, as well as arbitrations, in a range of cases spanning business torts, commercial contracts, business dissolutions, real estate, insurance, professional liability and products liability.


Professional Summary

Resourceful, results-oriented risk, compliance and investigations professional accomplished at both leading teams through fast-paced and high stakes investigations and working collaboratively and cost-effectively with business personnel to manage ethics and compliance risks.  Strong executive presence, project management and constructive communication skills, with international experience.

Professional Experience

PNC Bank, N.A.   2011 – Present

Vice President – Enterprise Fraud Management, Downers Grove, Illinois  2011 – Present

Lead a specialized team focused on preventing, detecting and investigating suspicions of mortgage fraud for PNC’s mortgage business.  In this leadership role, extensive involvement in team and individual performance management, professional development and initiatives around strong, constructive team engagement.  Also consistently demonstrate strong risk management focus and success in leveraging intelligence obtained from investigations, industry interactions and discussions with law enforcement for mortgage fraud awareness, prevention and detection purposes within PNC’s mortgage business.

PricewaterhouseCoopers LLP 1998 - 2011

Director of Forensic Services, Chicago, Illinois      2002-2011

Manage diverse teams through high profile, time sensitive, complex investigations for public and private companies.  Interact with Board of Directors, senior executives, counsel and regulatory personnel.  Extensive experience with global manufacturing and service companies. 

  • Provide cost-effective, realistic guidance on leading practices for internal investigations, risk mitigation, fraud prevention and compliance based on extensive investigations experience.
  • Drive focused, results-oriented investigations that promptly and efficiently address key stakeholder needs, including those of auditors, the SEC, and other regulatory and law enforcement agencies.
  • Concisely communicate internal control considerations, process improvement recommendations and investigation findings to senior management, Audit Committees, Boards of Directors and counsel.
  • "On call" expert for internal audit and compliance teams as they respond to a wide range of Sarbanes-Oxley "whistleblower" communications, address critical fraud, internal control and compliance risks both proactively and reactively and fulfil fraud, ethics and compliance training requirements.
  • Advocate for and advise companies on M&A agreement terms, including working capital and purchase price clauses and adjustments; analyze contract terms and supporting documentation to frame persuasive, supported positions and adjustment calculations.
  • Conduct investigative procedures on consecutive bank closings with the FDIC, with an in-depth understanding of the FDIC investigation process, protocols and focus.

Manager in Transaction Services, Dallas, Texas/Chicago, Illinois   2000-2002

Led due diligence teams in operational and financial analysis of prospective acquisition targets, with emphasis on rapid, relevant findings on quality of assets, earnings and projected cash flows.  Extensive experience with in-bound capital, manufacturing and energy-related acquisitions.

  • Led due diligence teams assessing financial performance, creating and refining cash flow models and identifying and communicating key findings/recommendations to deal teams and client executives; advised and collaborated on strategic goals and due diligence activities.   
  • Advised on incorporating key due diligence findings into pricing and contract terms and provided insight into profitability and cashflow to maximize deal value and address areas of risk.

Global Capital Markets Group Manager, London, UK    1998-2000

US GAAP and SEC specialist to foreign private issuers preparing to IPO and on 1933 and 1934 Act requirements.  Advised companies on requirements for accessing US capital markets through registration with the SEC and guided the accounting and financial reporting components of their SEC filings.

Coopers & Lybrand LLP, Kansas City, Missouri     1995 - 1998
Auditor

Conducted external audits for public and private companies, prepared financial statements, drafted footnotes and advised on accounting/reporting requirements.  Extensive regulated industry experience.

Credentials & Education

Certified Public Accountant (CPA), Certified in Financial Forensics (CFF)
Certified Fraud Examiner (CFE)
AICPA Member

Masters of Accountancy, University of Missouri-Columbia, 1995
Bachelor of Science, Business Administration, Summa Cum Laude, Columbia College, 1993

Presentations & Publications (selected)

  • Co-Chair for the 2010-2013 annual AICPA Forensic/Business Valuation+ National Conference planning committee, committee member 2008-2009
  • Chair of the Practising Law Institute Basics of Accounting program (Chicago) 2008-2012
  • Chair of the Practising Law Institute Pocket MBA for Attorneys program (Chicago) 2010-2011
  • Co-author of "Insights from an M&A Monitor"; Executive Counsel, July/August 2009
  • Contributing author of A Guide to Forensic Accounting Investigation, John Wiley & Sons, Inc., 2006 1st edition and 2012 update
  • Frequent speaker at mortgage fraud risk management or compliance-related conferences, including the Mortgage Bankers Association (MBA) National Mortgage Fraud Issues Conference (2012, 2014), American Conference Institute (ACI) Mortgage Fraud conference (2013), Predictive Methods conference and others
  • Presentations to numerous Fortune 500 insurance, energy, financial services and manufacturing companies  on compliance, investigations, accounting and regulatory topics
  • Adjunct faculty, DePaul University, Chicago, Illinois, Detecting and Investigating Financial Fraud, Winter 2004, periodic guest lecturer 2005-2007
  • Instructor of Foundations of Consulting for PricewaterhouseCoopers Advisory new hires 2009-2010
  • National Association of Women Lawyers (NAWL) Annual General Counsel Institute, 2006 -2009 on the Foreign Corrupt Practices Act, auditor interactions, risk areas for attorneys and other compliance topics

Awards & Organizations

  • PricewaterhouseCoopers Chairman's Award for creating and leading the "Women Leaders in Financial Services" initiative 
  • Young Women's Leadership Charter School Board Member and Board Development & Membership Committee Chair


Darrick Hooker is a counselor and a litigator who routinely counsels and represents clients with a variety of intellectual property issues, including patent litigation and counseling relating to litigation, as well as trade secret, trademark, copyright, and entertainment matters.  He has extensive transactional and litigation experience representing clients, including but not limited to, the medical devices, pharmaceuticals, healthcare, computer software, chemicals, mechanical devices, industrial, renewable energy, utility, mechanical engineering, and automotive/transportation industries.  Darrick has extensive experience in initial case evaluation and assessment, development of case strategy and settlement options, all phases of discovery, Markman hearings, trial strategy development, trial, and post-trial proceedings and appeal.

He also assists his clients with licensing, risk assessment and management, internal governance, compliance, and due diligence investigations in connection with licensing transactions, mergers, and acquisitions, namely those involving intellectual property portfolio acquisitions.  As a result, he has developed a reputation for having an in-depth understanding of a client’s business and technology to successfully identify and manage global assets, such as licensing and “freedom to practice” analyses of products, methods, and packaging.  This includes conducting patent landscape investigations, and opinion work such as patentability, validity, non-infringement, and freedom-to-operate opinions.

His entertainment practice includes advising and counseling clients on intellectual property, licensing and other contract rights, publishing rights, rights of publicity, and branding issues.

As a commercial litigator, Darrick has advised clients on and litigated cases involving complex commercial matters, including cyber security, product liability, premises liability, and breach of commercial agreements.

Darrick is admitted to practice before the United States Patent and Trademark Office.  He serves on the Board of Directors of the Institute for Science & Education Technology, Free Spirit Media, and the Black Entertainment and Sports Lawyers Association.  He is also a member of the Intellectual Property Advisory Board at the Maurer School of Law at Indiana University-Bloomington.