B.S., Accountancy with Honors, University of Illinois at Urbana/Champaign, 1986
Jerry Richardson serves clients out of The Claro Group’s Chicago office and is a member of the firm’s Disputes, Claims and Investigations practice. Jerry has over 30 years of professional experience, and has specialized in providing consulting services to clients involved in complex litigation and insurance claims since 1991. He has testified during bench trials, jury trials and depositions and made presentations during settlement deliberations, arbitration hearings and mediation proceedings. Jerry has analyzed damage calculations with a cumulative value exceeding $2 billion.
Mr. Richardson has also acted in the capacity of an arbitrator to resolve post-transaction purchase price disputes involving the sale of a manufacturing company, a consumer products company and a professional sports franchise. He has served as a senior member of engagement teams retained by corporations and audit committees of boards of directors to perform investigations regarding financial reporting issues in response to regulatory investigations and whistle blower allegations. Mr. Richardson has also presented findings to the Securities and Exchange Commission. Mr. Richardson has also served as a member of the board of directors of various not-for-profit organizations and his service has included responsibilities of Treasurer, Vice-Chairperson and member of the Executive Committee.
Jerry has extensive experience in the development and preparation of first-party property damage and business interruption claims as well as malicious product tampering, fidelity/employee crime, contractor’s all risk, builder’s risk, ocean marine cargo and product recall insurance claims. Jerry also has also led teams analyzing policy allocation issues regarding insurance coverage for long-tail asbestos, pollution and human health claims (“APH claims”). He has assisted clients in virtually all aspects of the insurance claims process, such as damage quantification, insurance policy analysis, and the development of negotiating strategies. Jerry has served clients in the agricultural, automotive, retail, professional services, financial services, energy, telecommunications, consumer products, commercial airline, advertising, publishing, real estate, sports and recreation, healthcare, metals and mining, pharmaceutical, construction and manufacturing industries.
Mr. Richardson’s clients are comprised primarily of companies headquartered in the United States and his responsibilities have included quantifying claims and disputes involving operations in Abu Dhabi, Amsterdam, Belgium, Brazil, Canada, Dominican Republic, Guatemala, Luxemburg, the Netherlands, Thailand, United Kingdom and Venezuela. Prior to joining The Claro Group, Jerry was one of 25 founding managing directors of Huron Consulting Group and, prior to his tenure at Huron, a partner at Arthur Andersen. He began his career in Arthur Andersen’s Commercial Audit Division, auditing financial statements of multi-national public companies and performing other financial accounting-centric consulting services (e.g., due diligence investigations).
George W. Rector, et al. v. White County Coal, LLC, et al. Circuit Court for the Second Judicial Circuit, White County, Illinois. Case No.: 06-L-15. McGuire Woods LLP, 77 West Wacker Drive, Suite 4100, Chicago, Illinois, 60601.
Testified in deposition and bench trial regarding analysis of present value of overriding royalties on future coal mining operations presented in calculation prepared by plaintiff’s expert witness. Critiqued plaintiff expert’s assumptions regarding appropriate royalty rate and pricing. Also, identified differences between tons of coal to be mined in the future used in calculation prepared by plaintiff’s expert and tons of coal expected to be mined by mining company management as presented in contemporaneous documents. Differences were due to, among other items, plaintiff’s expert ignoring areas with poor mining conditions and differences between historical operating yields per acre and yields presented in third-party mining engineering reports.
Metal One America, Inc. v. Republic Storage Systems, LLC. Circuit Court for the County of Cook. Docket No. 2007L011418. Kirkland & Ellis LLP, 300 North LaSalle Street, Chicago, Illinois, 60654.
Prepared report and testified in deposition and jury trial regarding analysis of plaintiff’s damage claim and efforts to mitigate damages in a breach of contract claim. Steel distributor plaintiff alleged that original equipment manufacturer (“OEM”) defendant was contractually obligated to purchase cold-rolled steel coils and was liable for the difference between prices contained in various purchase orders and actual price received when plaintiff sold approximately five month supply of cold-rolled steel coils at issue to a steel service center in one transaction. Analysis included calculation of reasonable market prices a similarly situated OEM would reasonably have been willing to pay had the plaintiff demonstrated reasonable care to mitigate damages in disposing of steel at issue.
CentiMark Corporation, Plaintiff, v. Tecta America Corp., Vincent J. Vitek, and Patrick J. Hansen, Defendants In the United States District Court For the Northern District of Illinois Eastern Division. Case No. 1:08cv7323. Wildman Harrold Allen & Dixon LLP, 225 West Wacker Drive, Chicago, Illinois, 60606.
Prepared report and testified in deposition regarding damages suffered and unjust enrichment enjoyed by defendant resulting from breach of contract and misappropriation of Trade Secrets.
Culligan International Company v. DSC Logistics, Inc. In the Circuit Court of Cook County, Illinois, County Department, Law Division. Case No. 2008 L 006049. Winston & Strawn, LLP, 35 West Wacker Drive, Chicago, IL 60601-9703.
Prepared report and testified in deposition regarding damages suffered as a result of breach of contract related to a failed outsourcing of logistics and warehousing functions.
Peerless-Winsmith, Inc. v. Fairfield Manufacturing Company, Inc. Court of Common Pleas Franklin County, Ohio, Case Number 04CVH-02-1769 Chester, Willcox & Saxbe LLP, 65 East State Street, Suite 1000, Columbus, Ohio 43215-3413.
Prepared report to present results of analysis performed to evaluate plaintiff’s calculation of damages allegedly suffered by supplier attempting to outsource manufacturing of electric motors to a subcontractor based in China. Defendant terminated supply contract with plaintiff because supplier failed to supply adequate quantities of motors satisfying performance criteria set forth in contract. Calculated value of defendant’s counterclaim for increased costs incurred by defendant. Parties settled after report was issued, prior to deposition.
Fireman’s Fund Insurance Company v. Genzyme Corporation. United States District Court – District of Massachusetts. Civil Action No. 93-12776-NG. Palmer & Dodge LLP, One Beacon Street, Boston, Massachusetts, 02108.
Prepared report and testified in deposition as rebuttal witness to insurance company’s damages expert regarding analysis prepared to calculate “actual cash market value” of therapeutics drug and resulting insurance claim value of loss suffered by policyholder.
B.S., Accountancy with Honors, University of Illinois at Urbana/Champaign, 1986
CPA - Illinois, May 1986
Certified in Financial Forensics by the American Institute of Certified Public Accountants – July 2008
Chartered Global Management Accountant – December 2014
Member - American Institute of Certified Public Accountants
Member - Illinois CPA Society
Former 10 year Member of Board of Directors, Vice Chairperson and Treasurer– Illinois Legal Aid Online
Associate Member – American Bar Association
Co-authored article "Is Your Business Prepared for Another Hurricane", published in Summer 1999 edition of Manufacts.
Reading Financial Statements, State Bar of Texas, 4th Annual Advanced In-House Counsel Course , Chapter 12, October 18, 2005.
Managing Your Emerging Risks – Cyber Liability, Fidelity/Employee Theft and Supply Chain/Contingent Business Interruption Risks, American Foundry Society - Foundry Executive Conference, September 16-18, 2012.
Managing Supply Chain & Assessing Contingent Time Element Risks, with Jacob Parsons, AIG Midwest Region Client Advisory Board Meeting, December 6, 2012.
Contingent Business Interruption and Supply Chain, with Sheri Wilson and Jennifer Morrill, Lockton 2013 Spirits Summit, July 27, 2013.
Chapter 6: Protecting Your Clients under the Changing Rules for Revenue Recognition Basics of Accounting for Lawyers 2016: What Every Practicing Lawyer Needs to Know. Co-authored chapter with Terry M. Lloyd, Managing Director, Finance Scholars Group and David Harkavy and Michael Brady from The Claro Group.
Claro congratulates 4 of our distinguished Managing Directors for being listed again in this year's Who's Who Legal: Jeff Andrien, Ross Mishkin, Jerry Richardson, and Michelle Uddin. Jeff Andrien was recognized in: Competition Economics Ross Mishkin, Jerry Richardson, and Michelle…
Congratulations to our Managing Directors: Michelle Uddin, Jeff Andrien, Ross Mishkin, Jerry Richardson, and Mark Hargis on being named 2018 Thought Leaders by Who's Who Legal. http://whoswholegal.com/thought-leaders/
Claro is proud to announce that 5 of our experts have been recognized in the 2017 edition of Who's Who Legal. Jeff Andrien Was recognized in: Competition: Economists Consulting Experts: Economic Consulting - Competition Economists Ross Mishkin, Gerald Richardson, Michelle Uddin, and Mark…