Perez v. Bruister (I)

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October 16, 2014

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ESOP valuations
breach of contract, expert testimony, breach of fiduciary duty, conflict of interest, fair market value (FMV), fraud, trustee, projections, overpayment, earnings before interest, taxes, depreciation, amortization (EBITDA), employee stock ownership plan (ESOP), remedy, home service provider
Perez v. Bruister (I)
54 F. Supp. 3d 629, 2014 U.S. Dist. LEXIS 148314
US
Federal Court
Mississippi
United States District Court
Dana Messina (DOL/plaintiffs); Z. Christopher Mercer (plaintiffs); Gregory Range (defendants);
Jordan III

Summary

In ESOP case, court finds trustees unreasonably relied on appraiser’s valuations and overpaid for company stock; court credits parties’ three experts equally and arrives at fair market value by averaging results from experts’ multiple calculations.
Perez v. Bruister
PDF, Size: 337 KB

See Also

Averaging Multiple Appraisals Yields Most Reliable FMV

Legal and Court Case Update
February 2015

In ESOP case, court finds trustees unreasonably relied on appraiser’s valuations and overpaid for company stock; court credits parties’ three experts equally and arrives at fair market value by averaging results from experts’ multiple calculations.

This article also appears in:
BVR Guide to Management Projections and Business Valuation: Analysis and Case Law