NERA provided damage quantification and loss causation analyses on behalf of an auditor defendant facing allegations of negligence in its audit of the financial statements of a credit union. The credit union and certain employees had engaged in fraudulent conduct to inflate its reported financial performance by concealing losses incurred on personal and business loans made to its members. NERA prepared an expert report for trial setting out why the plaintiff and its experts had not set out any coherent analysis of the connection between the loan losses incurred and the alleged negligence of the auditor. NERA further demonstrated that any such losses that may have been avoided absent the alleged negligence of the auditor were no more than a small fraction of the amount estimated by the plaintiff’s damages expert. The case settled prior to trial.