In the case Von der Rurh v. Imtech Intern, Inc., why did the Seventh Circuit not allow the company’s president to testify about lost profits? Is an expert necessary to testify about lost profits?
http://federalevidence.com/blog/2009/july/company-president%E2%80%99s-testimony-lost-profits-inadmissible-speculative-new-product
Expert Answer
Yes, an expert is definitely necessary to testify about lost profits. Seventh circuit rejects lost profits claim because, plaintiff was unable to obtain admissible expert testimony supporting its theory of recovery.
The main issue in the case was whether the Defendant had breached an agreement to license a patented pharmaceutical product. Septech claimed that, had the Defendant honored the licensing agreement, it could have
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