Court filing
Exhibit B — In re Bank of America California Unemployment Benefits Litigation (Dkt. 617-4, S.D. Cal. No. 3:21-md-02992)
Filed January 8, 2026 in In re Bank of America California Unemployment Benefits Litigation; one of 1415 filings from this case.
Record facts
| Court | U.S. District Court for the Southern District of California |
|---|---|
| Filed | 2026-01-08 |
U.S. District Court for the Southern District of California · No. 3:21-md-02992-GPC-MSB · Doc. 617-4 · 2026-01-08 · Docket on CourtListener
Full text
EXHIBIT B
Case 3:21-md-02992-GPC-MSB Document 617-4 Filed 01/08/26 PageID.43878
Page 1 of 14
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IN THE UNITED STATES DISTRICT COURT
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FOR THE SOUTHERN DISTRICT OF CALIFORNIA
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SAN DIEGO DIVISION
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--oOo--
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IN RE: BANK OF AMERICA
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CALIFORNIA UNEMPLOYMENT Case Number:
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BENEFITS LITIGATION 21-MD-02992-GPC-MSB
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_______________________________/
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This document relates
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to All Actions
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_______________________________/
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VIDEO-RECORDED DEPOSITION OF DAVID I. LEVINE, Ph.D.
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SAN FRANCISCO, CALIFORNIA
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WEDNESDAY, MAY 28, 2025
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21
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Reported by:
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Anrae Wimberley, CSR No. 7778
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Job No. 7309212
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IN THE UNITED STATES DISTRICT COURT
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FOR THE SOUTHERN DISTRICT OF CALIFORNIA
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SAN DIEGO DIVISION
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--oOo--
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IN RE: BANK OF AMERICA
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CALIFORNIA UNEMPLOYMENT Case Number:
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BENEFITS LITIGATION 21-MD-02992-GPC-MSB
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_______________________________/
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This document relates
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to All Actions
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_______________________________/
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15
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HIGHLY CONFIDENTIAL - UNDER PROTECTIVE ORDER
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Transcript of video-recorded deposition
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of DAVID I. LEVINE, Ph.D., taken at Goodwin Procter
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LLP, 525 Market Street, 31st Floor, San Francisco,
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California 94105, and also on Veritext Virtual Zoom,
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beginning at 9:27 a.m. and ending at 3:45 p.m. on
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Wednesday, May 28, 2025, before Anrae Wimberley,
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Certified Shorthand Reporter No. 7778.
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APPEARANCES ON ZOOM:
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ON BEHALF OF THE PLAINTIFFS:
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COTCHETT, PITRE & McCARTHY, LLP
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BY: BRIAN DANITZ, ESQ.
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DAVID HOLLENBERG, ESQ.
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(VIA ZOOM, WHERE NOTED)
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San Francisco Airport Office Center
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840 Malcolm Road, Suite 200
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Burlingame, California 94010
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(650) 697-6000
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bdanitz@cmplegal.com
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dhollenberg@cmplegal.com
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APPEARANCES IN PERSON:
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ON BEHALF OF THE PLAINTIFFS:
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ALTSHULER BERZON LLP
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BY: CAROLINE HUNSICKER, ESQ.
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CONNIE K. CHAN, ESQ.
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177 Post Street, Suite 300
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San Francisco, California 94108
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(415) 421-7151
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chunsicker@altshulerberzon.com
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cchan@altshulerberzon.com
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O N B E H A L F O F D E F E N D A N T B A N K O F A M E R I C A :
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G O O D W I N P R O C T E R L L P
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B Y : K E I T H L E V E N B E R G , E S Q .
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L A U R A B R Y S , E S Q .
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1 9 0 0 N S t r e e t N . W .
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W a s h i n g t o n , D . C . 2 0 0 3 6
7
( 2 0 2 ) 3 4 6 - 4 2 4 8
8
k l e v e n b e r g @ g o o d w i n l a w . c o m
9
l b r y s @ g o o d w i n l a w . c o m
1 0
1 1
A l s o p r e s e n t :
1 2
C A M E R O N T U T T L E , V i d e o g r a p h e r
1 3
V E R I T E X T L E G A L S O L U T I O N S
1 4
- - o O o - -
1 5
1 6
1 7
1 8
1 9
2 0
2 1
2 2
2 3
2 4
2 5
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I N D E X
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EXAMINATION BY: PAGE
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Mr. Levenberg 8
4
--oOo--
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E X H I B I T S
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EXHIBIT DESCRIPTION PAGE
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Exhibit 1 Expert Report of Dr. David 15
I. Levine, dated March 4,
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2025; 41 pages
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Exhibit 2 Expert Class Certification 35
Report of Greg J. Regan,
10
CPA/CFF, CFE, dated August
29, 2024; 76 pages
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Exhibit 3 Third Amended Master 83
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Consolidated Complaint; 266
pages
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Exhibit 4 Plaintiff Stephanie Moore's 90
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Supplemental Objections and
Responses to Bank of
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America, N.A.'s First Set
of Interrogatories; 42
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pages
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Exhibit 5 Expert Report of Professor 95
Justin McCrary, Ph.D.,
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dated April 4, 2025; 100
pages
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Exhibit 6 Plaintiff Kuang Ting 99
20
Chong's Supplemental
Objections and Responses to
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Bank of America, N.A.'s
First Set of
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Interrogatories; 40 pages
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REPORTER'S NOTE: All quotations from exhibits are
reflected in the manner in which they were read into
24
the record and do not necessarily indicate an exact
quote from the document.
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--oOo--
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WEDNESDAY, MAY 28, 2025;
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SAN FRANCISCO, CALIFORNIA;
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9:27 A.M.
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- - -
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THE VIDEOGRAPHER: Good morning. We are going 09:27:52
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on the record. The time is 9:27 a.m. on May 28th,
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2025.
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Please note that the microphones are
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sensitive, may pick up whispering and private
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conversations. Please mute your phones at this 09:28:08
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time. Audio and video recording will continue to
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take place unless all parties agree to go off the
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record.
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This is Media Unit 1 of the video-recorded
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deposition of Dr. David Levine taken by counsel for 09:28:22
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defendant in the matter of In Re: Bank of America
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California Unemployment Benefits Litigation, filed
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in the United States District Court, Southern
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District of California, San Diego Division, Case
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No. 21-MD-02992-GPC-MSB. 09:28:44
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The location of the deposition is
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525 Market Street, 31st Floor, San Francisco,
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California 94105.
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My name is Cameron Tuttle representing
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Veritext, and I'm the videographer. I am not 09:29:11
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authorized to administer an oath. I am not related 09:29:16
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to any party in this action nor am I financially
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interested in the outcome.
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If there are any objections to proceeding,
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please state them at the time of your appearance. 09:29:25
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Counsel will now state their appearances and
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affiliations for the record beginning with the
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noticing attorney.
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MR. LEVENBERG: Good morning. This is Keith
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Levenberg with Goodwin Procter representing Bank of 09:29:35
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America.
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MS. BRYS: Good morning. Laura Brys, also
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representing Bank of America.
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MS. HUNSICKER: I'm Caroline Hunsicker with
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Altshuler Berzon for the plaintiffs. 09:29:46
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MS. CHAN: Connie Chan from Altshuler Berzon on
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behalf of the plaintiffs.
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THE VIDEOGRAPHER: Will the court reporter
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please introduce yourself and administer the oath to
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the witness. 09:29:57
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THE REPORTER: We are on the record. My name
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is Anrae Wimberley, CSR No. 7778, and I will now
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swear in the witness.
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//
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// 09:30:01
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DAVID I. LEVINE, PH.D., 09:30:01
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sworn in personally as a witness by the Certified
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Shorthand Reporter, testified as follows:
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EXAMINATION
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BY MR. LEVENBERG: 09:30:01
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Q. State your name.
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A. David Levine.
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Q. And you've been retained by plaintiffs to
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offer an expert opinion in this case?
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A. Yes. 09:30:32
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Q. Have you had a deposition taken before?
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A. Yes.
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Q. About how many times have you previously
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sat for a deposition?
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A. Three or four. 09:30:40
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Q. When was the last time?
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A. A dozen or 15 years ago, I think.
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Q. Okay. So I'll go through some of the
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things, which you've probably already heard, even
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though it's been a while. 09:30:57
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I'll ask the questions. Your attorney may
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or may not object to those questions, but unless
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your attorney tells you not to answer them, you
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should answer them.
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Does that make sense to you? 09:31:06
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appropriate way to represent classwide harm." 11:38:48
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Describe what you mean by "aggregate
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measure of harm."
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A. The total harm suffered by a group.
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Q. And do you need to have information about 11:39:17
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the harm suffered by individual members of the group
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to form an opinion about the total harm suffered by
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the group?
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MS. HUNSICKER: Objection; vague.
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THE WITNESS: Can you ask that again? 11:39:41
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You mean individuals as opposed to
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having . . .
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BY MR. LEVENBERG:
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Q. If you have information about the
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aggregate measure of harm for a group, can you use 11:39:50
16
that to draw conclusions about the harms suffered by
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individual members of the group?
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MS. HUNSICKER: Objection; vague.
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THE WITNESS: So the method I'm proposing is to
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say that this credit card interest rate is a 11:40:10
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conservative lower bound on the opportunity cost of
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funds.
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My expectation is one would then take the
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individual claims amounts and durations to create a
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damage per person. 11:40:30
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Is that what you're asking? 11:40:34
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I'm not sure what you're asking.
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BY MR. LEVENBERG:
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Q. Well, that is helpful.
5
So I guess let's back up a little. Tell 11:40:42
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me how you would propose to arrive at the aggregate
7
measure of harm.
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A. If I can find opportunity cost to funds --
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a lower bound on the opportunity cost to funds for
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the vast majority of the class, and we apply that to 11:41:11
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the total amount of UI payments that were delayed
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times their delay, we would get an aggregate measure
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of harm.
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Q. Okay. And that aggregate measure of harm
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is basically just the sum total of all individual 11:41:31
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harms?
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MS. HUNSICKER: Objection; confusing.
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THE WITNESS: It is a conservative lower bound
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on the sum of the individual harms is what it's
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intended to create. 11:41:51
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BY MR. LEVENBERG:
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Q. Can your method be used to measure the
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individual harms suffered by any individual class
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member?
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MS. HUNSICKER: Objection; outside the scope of 11:42:01
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designed to create a conservative lower bound on an 11:50:12
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interest rate that one could then multiply by an
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amount of missing -- of delayed funds times the
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duration of the delay and create an estimate of
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harms for individuals. 11:50:31
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But it's designed to create an aggregate
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measure being a conservative lower bound that
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applies to the vast majority of the class.
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Is that responsive to your question?
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There's many -- I don't know what you mean 11:50:48
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by individual -- I mean --
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BY MR. LEVENBERG:
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Q. Well, it is what it is.
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A. -- it's what it is designed for.
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Q. It is a helpful response, but I can't stop 11:50:55
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asking questions, so I'm going to keep going.
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So should I interpret that to mean the
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method was designed to create an aggregate measure
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of harm for a class of 109,000 people; is that fair?
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A. Even though I use that number, I forget 11:51:14
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exactly which, but that was part --
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Q. Whatever that number is, I know it's --
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A. For more than 100,000 people, yes.
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Q. Could that method also be used to create
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an aggregate measure of harm for a class of 50,000 11:51:29
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people? 11:51:33
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MS. HUNSICKER: Objection; incomplete
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hypothetical, confusing.
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THE WITNESS: Yes.
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BY MR. LEVENBERG: 11:51:42
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Q. Could it be used to create an aggregate
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measure of harm for a class of 100 people?
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MS. HUNSICKER: Same objection; incomplete,
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confusing.
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THE WITNESS: As members get smaller, reliance 11:51:55
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on averages gets more challenging and sampling
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variation, random errors, and things like that,
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become more important.
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So as -- for 50,000, it's easy, and for
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numbers at 100 and below, one has to be more 11:52:35
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careful, so I would need to know a lot more.
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BY MR. LEVENBERG:
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Q. Okay. And could it be used to create an
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aggregate measure of harm for a class of one person?
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MS. HUNSICKER: Objection; incomplete. 11:52:48
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THE WITNESS: This wouldn't be how I would
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approach that problem.
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BY MR. LEVENBERG:
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Q. Okay.
25
All right. I think we are almost at our 11:52:54
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I, the undersigned, a Certified Shorthand
2
Reporter of the State of California, do hereby
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certify:
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That the foregoing proceedings were taken
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before me at the time and place herein set forth;
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that any witnesses in the foregoing proceedings,
7
prior to testifying, were administered an oath; that
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a record of the proceedings was made by me using
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machine shorthand which was thereafter transcribed
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under my direction; that the foregoing transcript is
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a true record of the testimony given.
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Further, that if the foregoing pertains to
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the original transcript of a deposition in a Federal
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Case, before completion of the proceedings, review
15
of the transcript (X) was ( ) was not requested.
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I further certify that I am neither
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financially interested in the action nor a relative
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or employee of any attorney of any party to this
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action.
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IN WITNESS WHEREOF, I have this date
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subscribed my name.
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Dated: June 11, 2025
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<%16617,Signature%>
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ANRAE WIMBERLEY, CSR No. 7778
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