Hemming Morse Partner Jeffrey Klein recently chaired a task force formed by the American Institute of Certified Public Accountants (“AICPA”) to analyze the remedy of disgorgement as it relates to a party’s “unjust enrichment.”  The task force’s work culminated in the authoring of a publication designed to assist practitioners with understanding this form of recovery.

The primer sheds light on the foundations of the concept of unjust enrichment and the remedy of disgorgement, including its place in the legal system, along with examples of its potential applicability for causes of action highlighted in the publication.  Additionally, the primer highlights considerations and analyses that may be applicable when a practitioner is tasked with quantifying a party’s alleged unjust enrichment.

The primer, which was recently issued by the AICPA’s Forensic and Litigation Services section, was drafted over the course of 18 months.  The co-authors and task force members consisted of Mr. Klein (chair), Kristopher Boushie, Martin Cunniff, Evan Kilbourne, Ken Rugeti, and Ida Shea.  The co-authors were assisted by additional professionals, including Hemming Morse’s Sacha Zadmehran.

Click here to read the AICPA LinkedIn announcement.

The primer is available on the AICPA website, located here.

In conjunction with the work on the primer, Mr. Klein and fellow task force members also presented the AICPA webcast “Unjust Enrichment, Ill-Gotten Gains, Defendant’s Profits, and Disgorgement: a Primer for Forensic Practitioners.”

Information on the webinar can be found here.