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Hindsight is a wonderful thing. It could save you $7.2 billion

Johnson and Johnson (‘J&J’) is claiming a huge US$7.2 billion in damages for breach of contract from pace-maker manufacturer Guidant Corporation (‘Guidant’) in an ongoing case in the US. This claim has brought into the news the thorny issue faced by forensic accountants of whether hindsight can be used in the calculation of damages.