A banking client borrowed a substantial amount of money, a small portion of which was earmarked as a source of capital to fund the operations of the client’s retail business with the remaining funds to be used by the client for his personal investment portfolio. The client’s investment portfolio ultimately incurred significant investment losses (and margin calls) during the global credit crisis in late 2008 and early 2009. The client alleged both that the investment losses were the result of unsuitable investments recommended by the defendant and that these losses and the resulting margin calls damaged the retail business because it no longer had sufficient capital available to acquire needed inventory. NERA provided two expert reports on behalf of the defendant. The first report explained that the investment loss estimated by the plaintiff’s expert was significantly overstated because of both material calculation errors and the use of inappropriate alternative benchmark portfolios. The second NERA expert report explained why any diminution in the value of the client’s retail business resulted from his choices as to how the business was capitalized and not attributable to the alleged negligence on the part of the defendant in recommending investments for his personal portfolio. The case settled prior to trial.