Analysis and testimony by Senior Managing Director Richard Eichmann helped support NERA’s client in obtaining a $14.1 million damages award in a breach of fiduciary duty case. AI-imaging company ArcSoft and its CEO were found liable for negligent misrepresentation, concealment, and breach of fiduciary by a jury in the US District Court, Northern California District, Oakland Division. Mr. Eichmann testified at trial as a damages expert on behalf of the plaintiffs.

It was alleged ArcSoft and its CEO deceived investors into selling their shares for less than they were worth by hiding information about the business's success, its move to China, and its eventual IPO. Mr. Eichmann provided the jury with guidance on how fair market value of the plaintiffs would have been calculated at the time of the buyout had the plaintiffs been aware of certain financial data withheld from them by the defendants. The jury determined in favor of the plaintiffs, who were awarded damages in concurrence with Mr. Eichmann’s testimony.

The NERA team included Director Dan Werner and Consultant Joe Milbury.