Dennis A. Staats is a senior financial claims and litigation executive with over thirty years of accounting, consulting, and corporate expertise.
He has worked with a diverse group of industries including construction, energy and utilities, technology, telecommunications, aerospace, electronics, shipbuilding, oil and gas, chemical, and others. Within these industries, his experience includes valuations of business and intangible assets; reorganization and workout assistance; project and contract performance reviews; and asset recovery services, including construction claims, business interruption assistance, and forensic accounting reviews. He has testified numerous times as an expert witness on cost accounting and claims issues on construction and government contracts; business valuations; the economic impact of business transactions, including claims for business interruption; breach of contracts; patent and trademark infringement; and thefts of trade secrets. He has testified in state and federal court, arbitrations and mediations, and public hearings.
Mr. Staats obtained his Certified Public Accountant title in the Commonwealth of Massachusetts while with Arthur Andersen & Co. and has obtained the designation as Certified in Financial Forensics.
Financial and Forensic Investigations
On dispute and financial investigatory matters, Mr. Staats has significant experience in the determination or evaluation of the economic impact of an event, or the economic impact of certain transactions or proposed transactions, including many that required a forensic accounting review of cost and finance records. In these cases, he and his team have reviewed and evaluated large quantities of data. He has interfaced and represented companies and other enterprises facing critical reports from governmental or independent audit agencies. Mr. Staats has advised companies and responded to inquiries from the Government Accountability Office, Defense Contract Audit Agency, Securities and Exchange Commission, Housing and Urban Development auditors, and others
Construction and Government Contract Matters
On construction and government contract matters, Mr. Staats has advised and consulted with contractors, owners, and lenders on issues involving project and contract administration, change order management, cost growth, delay issues including cost of delay, disruption and productivity, and claim preparation and pricing techniques. These projects include transportation, utilities, aerospace, shipbuilding, electronics, process plants, building construction, heavy civil construction, and manufacturing. He has extensive experience with the determination of compensable delay, including the determination of the impact of productivity and disruption on the cost of a project. He has advised clients on the method(s) of determining the cost of delay and unabsorbed overhead cost (Eichleay, Allegheny, and others), as well as various methods of estimating the impact of disruption such as measured mile and modified total cost and in the use of systems dynamics.
Economics and Commercial Damages
Mr. Staats has significant experience in evaluating economic damages including lost profits, lost business value, price erosion, disgorgement of profits, patent and license valuations, incremental cost determinations, cost recovery, and accounting reviews. He has been an expert and consulting expert on numerous cases that required the determination or evaluation of the economic impact of an event or the economic impact of certain transactions or proposed transactions, including many which required a forensic accounting review of cost and finance records. In these cases, he has reviewed significant cost accounting, revenue recognition, and profit information to analyze and determine the proper amount of economic damages. Many of these engagements required the evaluation of lost profits as a result of product liability, breach of contract, business interruption, design or operational deficiencies, and patent or trademark infringement. Industries that Mr. Staats has consulted on include aerospace, refinery operations, retail operations, integrated circuit manufacturers, consumer products, construction, pharmaceuticals, healthcare, and Department of Defense weapon systems.
Certified Public Accountant, Commonwealth of Massachusetts
Certified in Financial Forensics
Areas of Expertise
Michigan Technological University
BS, Business Administration and Accounting