CPA, ASA, ABV, CFE
Serena Morones is a damage expert specializing in damage analysis, including patent infringement and other intellectual property, forensic accounting and business valuation. She has helped lead numerous large and complex litigation cases to financial resolution through settlement or expert testimony. Multiple parties to a matter will hire Ms. Morones as an independent expert to assist them in settling valuation or economic disputes. She serves as a frequent guest lecturer for legal CLEs and at several Oregon universities on topics of valuation, damages and forensic accounting. Ms. Morones has practiced through her firm since 2002 and began her forensic accounting/valuation specialty in 1996.
Credentials and Education
- Certified Public Accountant, Oregon (CPA)
- Accredited Senior Appraiser (ASA) in Business Valuation, American Society of Appraisers
- Accredited in Business Valuation (ABV), American Society of CPAs
- Certified Fraud Examiner (CFE)
- Master of Taxation, Portland State University
- Bachelor of Arts in Accounting, Cum Laude, University of Oregon
- Economic damage analysis for litigation
- Patent infringement, trademark infringement, false advertising damage analysis
- Forensic accounting and fraud investigations
- Business valuation for litigation, buy-sell transactions, estate planning
- Independent mediator to resolve business valuation or financial disputes
Selected Litigation Case History
- Ameranth Inc. v Starbucks Corp., 2018; Testified at deposition on behalf of defendant regarding patent infringement damages
- Columbia Sportswear North America v Seirus Innovative Accessories 2017; Testified on behalf of plaintiff at trial and deposition regarding patent infringement damages.
- Public Company v. Private Company, 2017; Prepared expert report on commercial success and testified in deposition for patent inter partes review.
- Skedco, Inc. v Strategic Operations, 2014-2018; Prepared opinion of patent infringement damages on behalf of plaintiff, testified at deposition.
- Oregon v. Oracle, 2016; Conducted complex damage analysis on behalf of Oregon relating to the alleged failure of Oracle’s software system intended to manage Oregon’s “Cover Oregon” Medicaid health insurance program.
- Boyd Coffee Co. v. Miller Nash LLP 2015; Conducted analysis of alleged lost profits, testified at deposition.
- Reser’s Fine Foods, Inc. v. Bob Evans Farms, Inc. et al 2015; Prepared expert report on behalf of plaintiff regarding lost profits, testified at deposition.
- Douglas Ossanna v. Nike 2014; Testified at trial on behalf of defendant regarding alleged lost wages and benefits.
- Tobacco Master Settlement Agreement 2003 NPM Adjustment Proceedings for the State of Oregon; 2013; Served as Oregon’s quantitative expert in the 2003 MSA NPM adjustment arbitration proceedings held during April 2013.
- FLIR v. Fluke 2012; Testified at trial and deposition regarding trademark infringement damages and false advertising damages.
- Bott, LLC et al v. Roderich Bott 2012; Testified at trial as a court appointed fraud examiner, regarding results of an independent fraud investigation and forensic accounting analysis.
- Leatherman Tool Group v. Coast Cutlery 2012; Testified at deposition on behalf of plaintiff regarding false advertising damages.
- Jessica Schlesinger v. Barry Schlesinger et al 2012; Testified at trial regarding forensic accounting and valuation analysis.
- Sikh Dharma International et al v. Kartar et al, 2011; Testified at trial regarding business valuation and analysis of reasonable compensation.
- Evergreen Helicopters v. Erickson Air-Crane, 2011; Prepared expert report of lost profits analysis.
- Doe v. Boy Scouts of America 2010; Testified at trial regarding financial profile of Boy Scouts of America for punitive damage claim.
- Synectic Funds v. Craig Berkman and Arthur Andersen, 2008; Testified at trial regarding investment losses, as well as results of cash flow tracing.
- Scoggins v. Nidiffer and C&K Market, 2008; Conducted business valuation of grocery chain.
- State of Oregon v. Lyle Mann, 2007; Testified at trial regarding forensic accounting analysis of alleged expense reimbursement fraud.
- Daniel Miles v. Davis Wright Tremaine, 2007; Testified at trial regarding lost profits analysis.
- McWilliams v. Portland Public Schools, 2006; Conducted quantitative analysis of wage and hour claims.
- Fred Fields v. The Coe Manufacturing Company and Three Cities Research, 2005; Testified at trial regarding business valuation
- Roger Pollock v. DR Horton, Inc. 2004; conducted lost profits analysis.
- Various Class Actions v. Hollywood entertainment, 2004; Conducted lost wages analysis and forensic investigation of information systems data.
- Ochoco Lumber v. US Bank, 2003-2004; Conducted lost profits analysis.
- Professional Athlete v. Corporation, 2002; Analyzed alleged lost profits resulting from breach of endorsement contract.
Selected Business Valuations
- Manufacture of natural foods and tea company, revenues $90 million
- Regional grocery chain, revenues $450 million
- Steel fabricator, revenues $90 million
- Mill equipment manufacturer, revenues $90 million
- Wholesale lumber distributor, revenues $80 million
- Various medical practices revenues $5-$10 million
- Numerous family limited partnerships, assets up to $50 million
- Harley Davidson dealerships, revenues $5 million
- Hotel and family restaurant,
revenues $600,000 Dog grooming business, revenues $200,000
- Single family home builders
- Professional service firms, including engineering, advertising, architectural, real estate brokerage, insurance agencies
- Agricultural nursery
- Development stage companies, zero revenues
- Electronic component manufacturer, revenues $2 million
- Development stage companies, zero revenues
- Notes receivable
- Fractional interests in real estate
Publications & News Articles
- Oregon Quarterly Magazine, “100 Ducks Who Made a Difference,” a 100-year anniversary publication honoring notable Duck alumni including Serena Morones, July, 2019
- Serena Morones, Alina Niculita, and Paul Heidt, “Synergistic Values in the Organic and Natural Foods Industry” Financial Valuation and Litigation Expert, Issue 71, Feb/March 2018
- Serena Morones, “Buzz abounds on markets for trading startup shares” July 26, 2010 Portland Business Journal
- Portland Business Journal, “Valuation expert can take the heat on witness stand,” June 4, 2010
- Associated Press, “Accountant says Boy Scouts have nearly $1 billion in assets as punitive damage phase of abuse trial opens,” and related articles, April 20, 2010
- Serena Morones, “Proving the Top Line: Supporting Lost Sales in a Lost Profits Case,” CPA Expert, a publication of the AICPA, Summer 2004
- Serena Morones, “Exclusive Autograph Deals: What Value to the Athlete and Their Fans?” Entertainment and Sports Lawyer, a publication of the American Bar Association, Volume 22 Number 1, Spring 2004
- Serena Morones, “Athlete Signature Lines: Maximizing Endorsement Value for the Professional Athlete,” Entertainment and Sports Lawyer, a publication of the American Bar Association, Volume 21 Number 3, Fall 2003
- Jeff Manning, “Berkman Investors Seek $43 Million,” The Oregonian, May 30, 2008
- Oregon Society of Certified Public Accountants
- American Institute of Certified Public Accountants
- American Society of Appraisers
- Association of Certified Fraud Examiners
- Multnomah Bar Association Committee for Judicial Review (past)