In the process of litigating complex cases, there are many moving pieces that play a big role. Financial professionals are among the most important, especially when the case involves allegations of fraud or financial malfeasance. At the core of this phenomenon is the fact that most people simply do not understand the financial system.
Jurors have a cursory understanding of what happens within the guts of a company. Because their understanding is only superficial, they have a limited ability to make determinations of fact during the course of litigation. With this in mind, expert witnesses come to the rescue. A financial expert witness can make a great difference in who wins or loses a case.
What do these experts do? Importantly, they play a critical role in convincing the jury that one side was responsible or was not responsible for damage. The expert will get on the stand and explain to the jury what took place. It is said that an expert is a person who can explain a difficult topic using simple words that any person can understand. Litigation requires that experts do this for juries. Those juries are comprised of ordinary people with ordinary experiences. Without the help of the expert, they might just be guessing.
For lawyers who are trying to get the most out of the process, bringing on a solid expert witness is a critical part of the process. Solid experts can look the jury in the eye and convince jury members of things that a lawyer could never convince them of. By doing this, the expert can turn the tables in a case that may be hotly contested. It can be the difference between winning and losing lots of money in very big cases.
Financial experts are finding that this is a great way to supplement their income. They already have the knowledge, and all they have to do is show up to the courtroom and explain what they know to people who are interested in learning. They are paid well for this service, and lawyers are often happy to pay because they know better than anyone that a good expert witness can turn the tide in a case that might have been lost without the help of that witness. It’s a little thing that can turn an otherwise soft case on its head when all the money is one the line.