Can a Valuation Firm Serve as Expert Witness?

Business Valuation UpdateVol. 21 No. 5
Legal and Court Case Update
May 2015
2033 Canned Fruits, Vegetables, Preserves, Jams, and Jellies
311421 Fruit and Vegetable Canning
dissenting shareholder
expert testimony, rule 702, expert report

In re Dole Food Co. (Dole II)
2015 Del. Ch. LEXIS 47
February 27, 2015
US
State Court
Delaware
Court of Chancery
Seth Ferguson/Stifel, Nicolaus & Company, Inc. (defendants); unknown (plaintiffs)
Laster

Summary

Chancery says defendant’s valuation expert cannot be corporate entity, i.e., its investment banker, because only a biological person may serve as an expert witness; but firm may substitute a managing director provided he first has adopted expert reports.

See Also

In re Dole Food Co. (Dole II)

Chancery says defendant’s valuation expert cannot be corporate entity, i.e., its investment banker, because only a biological person may serve as an expert witness; but firm may substitute a managing director provided he first has adopted expert reports.