California Amplifier 10b-5 Litigation
Analysis Group was hired on behalf of the defendant, California Amplifier, to evaluate the plaintiffs' damages claim in a shareholder suit relating to the manufacture of decoding equipment used in the wireless cable industry. Analysis Group Managing Principal Keith Ugone testified in deposition as expert witness for the defense, demonstrating that the plaintiffs' financial expert considered neither market speculation related to the wireless cable industry nor the defendant's higher-than-expected earnings when calculating claimed damages. Dr. Ugone also testified that the plaintiffs' expert made erroneous assumptions regarding stock price movements unrelated to the plaintiffs' allegations and on "no announcement days." The case settled during trial.