Fairness Opinion Triggers Viable Aiding and Abetting Claim Against Financial Advisor

BVLaw
Court Case Digests
August 29, 2018
7371 Computer Programming Services
541511 Custom Computer Programming Services
dissenting shareholder
fair value, breach of fiduciary duty, discounted cash flow (DCF), multiple, limited partnership, fairness opinion, earnings before interest, taxes, depreciation, amortization (EBITDA), market value, aiding and abetting

Mesirov v. Enbridge Energy Co.
2018 Del. Ch. LEXIS 294
US
State Court
Delaware
Court of Chancery of Delaware
Simmons & Co. International (financial advisor)
Slights

Summary

In dispute over related-party transaction, court upholds aiding and abetting claim against financial advisor; plaintiffs produced enough facts to show fairness opinion ignored most relevant precedent transaction and other valuation metrics indicating the buyer was overpaying for contested asset.

See Also

Mesirov v. Enbridge Energy Co.

In dispute over related-party transaction, court upholds aiding and abetting claim against financial advisor; plaintiffs produced enough facts to show fairness opinion ignored most relevant precedent transaction and other valuation metrics indicating the buyer was overpaying for contested asset.

This article also appears in:
Business Valuation UpdateVol. 24 No. 11