News Category: News

Simon Platt Named Among Top Thought Leaders in North America by Who’s Who Legal

StoneTurn is pleased to announce that Simon Platt has been named among top Thought Leaders in North America in the “Investigations 2018: Forensic Accountants” rankings released by Who’s Who Legal.

Who’s Who Legal highlighted top-tier forensic accountants with proven track records of supporting clients under investigation in a range of contexts.

According to WWL: “the ‘exceptional’ Simon Platt at StoneTurn is ‘an extremely talented forensic accountant’ who commands respect in the international marketplace.”

Read more from WWL.

StoneTurn Announces New Partners and Senior Promotions

Kristofer Buchan and Michele Edwards Admitted to the Partnership; Senior Leaders Appointed Across the Firm

New York, NY (January 10, 2018) – StoneTurn today announced that Kristofer Buchan and Michele Edwards have been admitted as Partners; Greg Buchanan and Kyla Curley and seven professionals across the firm have been promoted to Managing Director.

“Congratulations to my partners and colleagues on these well-deserved promotions,” said Christopher Martinez, Managing Partner of StoneTurn. “We take great pride in the breadth and depth of talent and commitment to client service that is represented across our expanding team of global professionals.”

Kris, who is based in Houston, is an expert in applying empirical economic and statistical models to sophisticated issues raised in antitrust, class action and intellectual property matters.

Michele specializes in assisting companies to build, assess, monitor and remediate antifraud and compliance programs and controls, and has extensive experience conducting fraud and compliance risk assessments, fraud and compliance training, fraud detection and forensic investigations.  She is based in Chicago.

Greg, based in the firm’s Chicago office, has extensive experience working on anti-corruption and anti-bribery matters, complex forensic accounting investigations, and commercial litigation engagements involving public and private companies.

Kyla, who is based in Boston, has extensive experience leading and conducting forensic accounting investigations on a broad range of matters, including investigations alleging corruption or bribery, and also assists clients and counsel on various complex business litigation issues.

Additionally, Managing Director promotions by region include:

Boston:
Tristan Cecala

Chicago:
Michael Costa

Houston:
Tiffany Lewis

About StoneTurn

StoneTurn is a leading forensic accounting, corporate compliance and expert services firm. We
“leave no stone unturned” when it comes to assisting attorneys, corporations and government agencies solve high-stakes legal and risk-related issues. With professionals located in offices across the U.S. and U.K., and a network of senior advisers in numerous other countries, we provide expertise in: Litigation, Investigations, Compliance & Monitoring, Valuation, Forensic Technology and Data Analytics.

Howard Scheck to Speak on Panel at ABA 12th Annual National Institute on Securities Fraud

Howard Scheck will participate on a panel, “Receivers and Compliance Monitors: What are the Best Approaches Toward Having an Effective Compliance Program?,” at the ABA 12th Annual National Institute on Securities Fraud in Salt Lake City on January 11, 2018. Panelists will discuss the appropriate role and scope of a receiver or compliance monitor, what limits can be imposed, and whether the DOJ, SEC or the courts will be the arbiters of disputes.

Learn more and register to attend.

David Stern Recognized in Who’s Who Legal 2018: Arbitration – Expert Witnesses

StoneTurn is pleased to announce that David Stern has again been recognized as a leading arbitration expert witness by the 2018 Who’s Who Legal.

Who’s Who Legal describes David as “a widely recognised figure in the European arbitration market, commended for his first-rate valuation analyses.”

David was also recognized in Who’s Who Legal: Arbitration – Expert Witnesses (2017) as “great to work with, effective and insightful,” and in Who’s Who Legal: Experts – Economic Consulting – Quantum of Damages (2017) as “an accomplished expert on an impressive range of valuation issues.”

Learn more.

New Revenue Rules Mean More Work for Companies, Big Revenue for Consultants and Auditors

Corporations are struggling to adjust internal accounting standards to comply with the new revenue recognition rules in advance of a January 1, 2018 deadline. Those companies that engage their auditors as consultants to prepare for the new standards should be aware of independence issues that could arise later.

Howard Scheck commented on these concerns in a recent article from MarketWatch.

Read the full article.

Alan Ratliff, Ambreen Salters and Christopher Martinez Recognized as Top Patent Damages Experts in the U.S.

StoneTurn is pleased to announce that Alan Ratliff, Ambreen Salters and Christopher Martinez have been recognized as top patent damages experts in the U.S.

Over a period of five months, Intellectual Asset Management (IAM) interviewed hundreds of attorneys, patent attorneys and in-house counsel across the country to compile the 2017 IAM Patent 1000 — The World’s Leading Patent Practitioners. Each of the experts listed received sufficient positive feedback from peers and clients with knowledge of their practice and the market in which they operate to qualify for the recognition. 22 experts were recognized as Highly Recommended, including Alan, while Ambreen and Christopher were recognized among Recommended experts. Alan, Ambreen and Christopher have been included in the Patent 1000 Experts listing each year since its inception in 2014.

According to IAM’s 2017 Patent 1000:

“With ‘superb knowledge and skills’… Alan Ratliff of StoneTurn Group knows the commercial value of intellectual property and how to measure it precisely. A former lawyer, he also understands how evidence needs to be developed to satisfy legal criteria in patent disputes; he works fluently with legal professionals and drafts logical, well-structured reports. In a recent infringement case, client ISOLA was awarded the exact damages” to which he testified in Court.

Ambreen Salters “is an economics and finance whizz, who not only provides incisive and comprehensive damages analyses, but also presents them persuasively, resonating with judges and juries alike.”

Christopher Martinez “is a clear-sighted analyst of the financial issues arising from IP and transactional disputes. A veteran witness and consultant, he also benefits from commercial insights gained as a licensing executive at a Fortune 50 corporation.”

Building the StoneTurn Brand

You may notice that StoneTurn looks different. Rest assured, we are still the same experts who leave no stone unturned when it comes to assisting attorneys, corporations and government agencies to solve high-stakes legal and compliance matters.

Upon StoneTurn’s 10th anniversary, we embarked upon a journey to better understand our brand and what it means to our clients and our professionals. As a people-focused firm, it was critical for our efforts to center on the feedback we received from these key audiences. We heard many consistent themes throughout this process—and we wanted to ensure we brought this input to life.

What you see before you is the culmination of that feedback and the next leg of our firm’s journey.

We discovered what is truly unique about StoneTurn is our people and the way in which we deliver our expertise. We are friendly, responsive, lean and efficient, hands-on experts who collaborate with clients and each other to achieve the best outcomes. We look beyond the surface to assist our clients on a range of matters involving critical risks; this notion is now part of our new logo.

As we evolve our messaging and look and feel, you’ll continue to see these changes, and we encourage you to provide us with valuable feedback. What will not change is our dedication to our clients and our professionals at every turn.

For those who know us well, we hope you will continue to allow us to serve as your trusted advisers. For those who do not, we look forward to the opportunity to provide you with a remarkable and rewarding experience.

Turn to us.

StoneTurn to Assist Former Deputy U.S. Attorney General Larry Thompson as Corporate Compliance Monitor in Volkswagen AG Emissions Proceedings

NEW YORK, NY, May 2 – A StoneTurn team will assist Larry D. Thompson, Counsel to Finch McCranie, LLP and former Deputy U.S. Attorney General, whom the U.S. government has appointed as the Independent Corporate Compliance Monitor and Auditor for Volkswagen AG (VW). Mr. Thompson’s appointment is part of VW’s criminal plea agreement stemming from the company’s scheme to sell diesel vehicles containing software designed to cheat on U.S. emissions tests.

To assist him in monitoring VW’s corporate compliance, Mr. Thompson has assembled a team of leading corporate fraud investigators, compliance counselors, and environmental law experts. Mr. Thompson has asked StoneTurn to serve as Forensic Adviser. In this role, the StoneTurn team assesses the company’s compliance with the terms of a criminal plea agreement and civil consent decree related to the company’s scheme to sell diesel vehicles containing software designed to cheat on U.S. emissions tests and assesses and audits the Company’s antifraud, ethics and compliance programs across the company, including policies and procedures designed to prevent and detect violations of fraud and environmental laws.

Additional members of the monitor support team include: Deputy Monitor for Anti-Fraud, Ethics and Compliance, Scott Marrah, former Assistant U.S. Attorney, currently Partner at Kilpatrick Townsend & Stockton, Co-Leader of the firm’s Government Enforcement & Investigations team, and a member of the firm’s Executive Committee; Deputy Monitor for Emissions and Environmental, Benjamin Wilson, Chairman of environmental law firm Beveridge & Diamond, P.C. and court-appointed monitor in the Duke Energy coal ash cleanup; and Counsel to the Monitor Michael A. Sullivan, former federal prosecutor and currently Partner at Finch McCranie.

In a press release issued on Friday, April 21, the day VW was sentenced in U.S. District Court in Detroit, MI, the DOJ stated that Mr. Thompson will oversee VW’s compliance reforms and implementation of the terms of the plea agreement over the next three years.

StoneTurn Client Wins Verdict of More Than $10 Million

Healthcare provider Kelsey-Seybold, a StoneTurn client, recently won a verdict totaling more than $10 million in economic damages, statutory damages (penalties and interest), attorneys’ fees and pre-judgment interest in a long running dispute that eventually went to trial.

Kelsey claimed it was underpaid for patient health insurance reimbursements by insurer, Great West (now Cigna), for services provided by Kelsey to Great West’s insureds. The parties disputed the reimbursement amounts due.  Under Texas law, underpayments are subject to statutory damages (substantial penalties and interest) if not paid timely and, potentially, an award of attorney’s fees. The jury awarded the exact amount of economic and statutory damages Adam Gordon, StoneTurn’s expert witness, testified to under one of the two date scenarios presented in court.

Adam was supported by various StoneTurners throughout the dispute, including Kris Buchan, Tiffany Lewis and Katie Waddle.