Duties & Responsibilities:
Al is the Managing Partner of Rossi and one of its founding partners. Having been in public accounting since 1976, Al has specialized in audit, accounting and forensic accounting services to both privately-held, publicly-held and not-for- profit enterprises.
Al’s industry experience has focused on manufacturing, distribution, technology, retail, transportation, aerospace, advertising, environmental services, hospitality, service and real estate development/construction. Not-for-profit experience includes housing for low income families, rehabilitation facilities, HIV research, boys and girls clubs, paratransit services, after school programs, boy scouts council and foster care.
Client service, responsiveness, creativity, practical, team work and client value have been the driving forces in Al’s practice philosophy.
Al has been qualified as an expert in accounting, audit and damage issues in Federal District Courts and California Superior Courts. In addition, he has consulted on hundreds of complex litigation matters involving financial issues covering high technology, financial institutions, manufacturing, distribution, software, retail, apparel and health care industries, among others.
Al has been qualified as an expert by U.S. Federal Courts and California State Courts in accounting, auditing and financial damages. Examples of the types of cases in which Al has served as an expert include:
- CalSTERS, CalPERS, Franklin Funds and Los Angeles City Retirement Plans vs. AOL Time Warner, Inc. et. al. Al was an expert regarding accounting and audit issues involving revenue recognition, nonmonetary transactions and roundtrip transactions. The matter was settled for in excess of $100 million in favor of plaintiffs.
- In re Gupta Corporation Securities Litigation. Retained by Plaintiffs to provide expert advice on accounting and financial reporting issues relating to plaintiffs’ claims of financial reporting fraud. We assisted in all aspects of discovery, providing assistance to plaintiffs’ counsel on document requests, document analysis and review, depositions and expert declarations. The matter was settled, but as a result of plaintiffs’ work, Gupta’s auditors, Arthur Andersen & Co., withdrew its audit opinions on the financial statements of Gupta and resigned. Subsequently, the financial statements at issue during the Class Period were restated by Gupta.
- Benson vs. Kwikset Corporation, et. al. Retained by Cuneo Waldman & Gilbert LLP Law Group to provide consultation and expert testimony regarding plaintiff’s claim of defendant’s violation of Section 17200 of the California Business & Professions Code. Our analysis was focused on foreign and domestic product cost components, trial support service, and expert testimony.
- Farmers Group, Inc. et al. vs. State Street Bank Y Trust, et al. Retained by Farmers Group, Inc. and worked with the law firm of Manatt, Phelps & Phillips in conducting an investigation into financial damages and improper practices in the handling of trust funds, as well as providing expert testimony at trial. The trial resulted in a damage award against State Street Bank & Trust in excess of $5.8 million.
- M. Cancelosi vs. Sterling Healthcare Corporation. This was an arbitration proceeding involving allegations of severance benefits due Cancelosi from Sterling. I was retained by defendant Sterling Healthcare Corporation and worked with the law firm of Hagens Berman Sobul Shapiro LLP, located in Seattle, in conducting an investigation into and expert testimony on behalf of Sterling as to improper accounting practices undertaken while Cancelosi was CEO and the damages to Sterling resulting from breach of fiduciary duties and mismanagement.
Al has led hundreds of forensic accounting consulting projects involving complex accounting, financial reporting and auditing issues. These engagements have ranged from consulting on SEC investigations, financial accounting allegations in complaints, review of millions of accounting/transactional documents, accounting and financial reporting research and damage analysis. Finally, Al has prepared valuation reports on manufacturing, distribution and service industry companies.
Al has consulted with clients on a variety of specialized projects, including but not limited to:
- Obtaining or restructuring credit facilities.
- Due diligence for buy side transactions.
- Structure and sale of businesses.
- Accounting systems.
- Corporate restructuring.
- Executive compensation and incentive plans.
- Tax structures and planning.
- Succession and planning.
Education & Credentials:
Al is a member of the AICPA and California State Society of CPAs, and has the following degrees:
- Bachelor of Science degree in Accounting, California State University, Long Beach.
- Bachelor of Arts degree in Psychology, California State University, San Diego
Al is a volunteer and board member for the Tichenor Orthopedic Clinic for Children.
Al resides in Palos Verdes with his wife, Nancy, of over 31 years; Al and Nancy have two daughters.