Fox v. CDx Holdings

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Full Text of Court Cases
July 28, 2015
3829 Measuring and Controlling Devices, NEC
339112 Surgical and Medical Instrument Manufacturing
securities litigation
cost approach, corporate tax, discounted cash flow (DCF), fair market value (FMV), merger, stock options, earnings, projections, accounting, earnings before interest, taxes, depreciation, amortization (EBITDA), comparable companies method

Fox v. CDx Holdings
2015 Del. Ch. LEXIS 194
US
State Court
Delaware
Court of Chancery of Delaware
Unknown (Plaintiffs); Grant Thornton, PwC (Defendants)
Laster

Summary

Chancery says major accounting firm’s merger-related appraisal represents “new low”; to achieve client’s goal of zero corporate tax liability, firm abandoned sound prior approaches and simply copied another accounting firm’s report and called it its own.
Fox v. CDx Holdings
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See Also

Chancery Decries Accounting Firm’s Compromised Valuation

Chancery says major accounting firm’s merger-related appraisal represents “new low”; to achieve client’s goal of zero corporate tax liability, firm abandoned sound prior approaches and simply copied another accounting firm’s report and called it its own.