Abstract
In their role as gatekeepers, the courts are often faced with the issue of assessing the reliability of complex expert testimony in a variety of disciplines. In the area of finance and economics, two recent federal decisions concluded that the S-curve approach, which has been described as a method gaining popularity among experts, was unreliable. We demonstrate the susceptibility of the S-curve approach to manipulation by empirically testing several S-curve derived models on a sample of over 2,900 firms. We also explain why the literature on this method does not provide proper foundations for calculating damages in litigation. We conclude that recent assessments of the S-curve demonstrate a proper application of the gatekeeping role of the courts.
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