Andrew C. Daniel

Andrew C. Daniel

Director, Securities Litigation Expert and Consultant

Andrew Daniel is a Director of Bates Group and uses his experience in accounting, finance, and the securities industry to manage forensic investigations and dispute consulting engagements related to investment and financial litigation, as well as providing valuations in business interruption cases. His experience in investment litigation includes preparing financial and damages analysis, and consulting on: trading patterns, financial market trend research and event analysis, investment product and market risk analysis, concentration, actively vs. passively managed investment strategies, investment cost analysis and case assessment related to securities litigation and other financial matters. Mr. Daniel has led engagements involving a wide variety of investment products including: structured products, financial and agency preferred securities, annuities, mutual funds, options, equities and exchange traded funds. He has testified as an expert in financial litigation cases on more than 50 occasions.

Mr. Daniel also has experience leading multi-million dollar property, business interruption, and lost profit engagements. Engagements have involved financial assurance disputes and lost profits associated with contractual disputes. He has been retained to testify in these areas on several occasions.

Mr. Daniel’s experience in financial litigation includes: alter ego litigation, assessing claims in the construction industry, analysis of pension plan investment options and relative costs, and reviewing back dated stock option processes, application of accounting standards and calculating associated financial statement adjustments. He has been a work product and consulting expert in these areas.

Before joining Bates Group, Mr. Daniel was a Principal with LECG and senior manager with Bates Private Capital Incorporated, a firm providing litigation consulting, financial analysis, market trend research, and expert witness testimony for securities and other financial-related matters.

Mr. Daniel began his financial career as a senior accountant with Coopers & Lybrand in Melbourne, Australia where he performed financial audits and related tax work for insurance, investments, retirement benefits and manufacturing companies, state based tertiary institutions, and local government organizations. He has also worked as an audit supervisor and management accountant with several companies in Australia utilizing his finance, accounting, and management skills in the operational aspects of national initiatives and strategic business ventures, the development of reporting models, and change management projects.


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Andrew C. Daniel

A Consultant and subject matter expert in these services:

Credentials

SELECT FORENSIC ACCOUNTING INVESTIGATIONS

Retained by special counsel of the special committee of the board of directors of a public company (semiconductor) to perform a forensic investigation of the company's historical stock option granting practices to determine if backdating of stock options had occurred and to opine on the correct accounting treatment of stock option grants with regard to the company’s restatement.

Retained by special counsel of the nominating and governance committee of the board of directors of a public company (wireless devices) to perform a forensic accounting investigation of the company's historical stock option granting practices to determine if backdating its stock options had occurred and to opine on the correct accounting treatment of option grants with regard to the company’s restatement. Retained by the company to evaluate the financial results related to its stock option restatement in accordance with GAAP.

Retained by special counsel of the special committee of the board of directors of a public company (broadband devices) to perform a forensic investigation of the company's historical stock option granting practices to determine if backdating of stock options had occurred and to opine on the correct accounting treatment of stock option grants with regard to the company’s restatement.

Retained by counsel to provide advice and prepare various analyses related to a potential derivative lawsuit against an officer of a public company (technology Infrastructure) related to historical stock option accounting practices.

Retained by a Fortune 500 company (software) to analyze contract management, purchase order, and creditors systems to identify duplicate or incorrect payments for follow up and collection by the client.

Retained by Fortune 500 company (insurance) to provide research on GAAP and accounting guidance related to the transfer of risk under reinsurance contracts.

BUSINESS INTERRUPTION VALUATION ENGAGEMENTS

Retained by counsel of a privately held company to perform a review and assessment of the company's compliance with local government financial assurance requirements. The review resulted in the preparation of a series of expert reports and affidavits in defense of allegations that the company had failed to meet the required financial assurance.

Retained by counsel of a privately held company to perform an analysis of the lost profits associated with local government's decision to prematurely withdrawal approval for the continued operation of the company's business.

SELECT LITIGATION ENGAGEMENTS

Retained by counsel as a work product consultant to provide analysis and advice regarding a contractual dispute which included an analysis of inventory and shipment records, unit costs, foreign exchange fluctuations, required disclosures under Australian accounting standards (AAS) and a comparison of internal documents to external communications made to customers.

Retained by counsel representing a multi-national broker-dealer firm to testify on asset and sector allocations, relative risk of alternative hypothetical investments, hypothetical profit and loss analyses critiquing plaintiff’s expert’s damages calculations.

Retained by counsel as a work product consultant to provide analysis and advice regarding various accounting issues with regard to stock option accounting in a criminal case involving alleged backdating of stock options by the CEO of a public company.

Retained by counsel representing a multi-national insurance provider to testify on the profit and loss associated with investment decisions made by a retail investor with respect to retirement based investment products and other alternative investments.

Retained by counsel to provide advice and prepare various statistical analyses related to a derivative lawsuits against various directors and officers of a public company (semi-conductor) related to its historical stock option accounting practices.

Retained by counsel representing a multi-national broker-dealer firm to testify on claimant’s trading activity in specific stocks and corporate debentures securities in light of research reports issued by Wall Street firms and other reporting agencies.

Retained by counsel to provide advice and prepare various market-timing and late-trading analyses in a criminal case involving alleged market timing and late trading of various institutional investors.

Retained by counsel representing a Fortune 500 company (retail) to analyze ERISA related allegations addressing excessive management fees and expenses associated with the management of the plan and the retail mutual funds offered; the retention of imprudent investment options; failure to implement and have adequate procedure for evaluation, selecting and monitoring fund options.

Retained by counsel representing a Fortune 500 company (consumer staples) to analyze ERISA related allegations addressing: breach of fiduciary duty, maintaining and holding excessive cash in company stock funds, charging excessive fees and expenses, inherent costs associated with a unitized stock fund.

Retained by special counsel of an insurance company to perform a detailed review of over 100,000 documents relating to a construction company's performance on multiple projects. The review resulted in the reconstruction of events leading up to the claim and graphical presentations of data to assist in determining if a payout by the insurance company was valid.

EXPERIENCE

Bates Group, Director, 2013 – Present

Bates Group, Principal, 2011 – 2013

LECG, Principal, 2005 – 2011

Bates Private Capital Incorporated, Lake Oswego, Oregon, Senior Manager, 2002 - 2005

Nike Inc., Beaverton, Oregon, Senior Financial Analyst, Contract Position, 2002

Jossco USA Inc., Portland, Oregon, Financial Controller, 1999 - 2001

Bankers Trust Australia, Sydney, Australia, Management Accountant, 1998 - 1999

Broken Hill Proprietary Company, Wollongong, Australia, Management Accountant, 1996 - 1998

Grant Thornton LLP, Melbourne, Australia and Vancouver, Canada, Audit Supervisor, 1994 - 1996

Coopers & Lybrand, Melbourne, Australia, Senior Accountant, 1990 - 1993

EDUCATION & PROFESSIONAL QUALIFICATIONS

Institute of Business & Finance, Certified Annuity Specialist, 2012

National Association of Certified Valuation Analysts, Certified Valuation Analyst (CVA), 2009

Association of Certified Fraud Examiners, Certified Fraud Examiner (CFE), 2008

Associate of the Institute of Chartered Accountants (ACA), Australia, 1992

University of New South Wales, Sydney, Australia, Masters in Business and Technology, 2000

Monash University, Melbourne, Australia, Bachelor of Economics, 1989

Automat:ee