Damages analyses and but-for fees for Fidelity Information Services
Jeffrey Brown submitted two rebuttal reports on behalf of Fidelity Information Services (FIS) in its litigation against HedgeServ, Ltd. HedgeServ alleged that FIS violated the terms of its agreement to distribute software used for hedge fund administration and portfolio management, specifically by failing to apply a most favored nation (MFN) provision to HedgeServ’s licensing fees. Dr. Brown’s reports included damages analyses based on a comparison between actual fees paid and but-for fees that would have been charged under alternative interpretations of the MFN provision.