The main creditor of a tech company in Indiana decided to sue its three founders, alleging that they repeatedly paid themselves out prior to paying back company debts. The lawsuit came after decades of success in the tech industry, where the company distributed its earnings to each founder, leaving enough capital for improvements and bills. The company began to wind down, deciding to leave the tech business. They transferred their assets and ultimately declared bankruptcy, causing the creditor to file suit in a fraudulent transfer claim. The founders’ technical expertise and inventiveness in the marketplace was questioned; an expert in the tech industry was needed to develop a theory over the value of their rendered services and discuss typical executive-level compensation, responsibilities, and experience.
Question(s) For Expert Witness
1. Please briefly describe your experience and familiarity with executive level compensation and expertise in the tech industry.
Expert Witness Response E-008695
I have over twenty years of experience in the tech industry, doing a significant amount of work on compensation for employees in a range of companies. For example, I have completed various analysis of operational models and service organizations for a major software provider. I am familiar with compensation in the telecoms industry, both for employees of channels such as described and also of service organizations.