In Unusual ESOP Case, 5th Circuit Validates FMV Computation

Business Valuation UpdateVol. 22 No. 7
Legal and Court Case Update
July 2016

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ESOP valuations
expert testimony, appraisal, breach of fiduciary duty, conflict of interest, fair market value (FMV), trustee, projections, overpayment, debt, employee stock ownership plan (ESOP), guideline publicly-traded company method
Perez v. Bruister (II)
823 F.3d 250 (5th Circ. 2016), 2016 U.S. App. LEXIS 8046
May 3, 2016
US
Federal Court
5th Circuit
United States Court of Appeals
Z. Christopher Mercer (plaintiffs); Dana Messina (DOL/plaintiffs); Gregory Range (defendants)
Jones

Summary

5th Circuit upholds district court’s liability and remedy findings in ESOP case; lower court’s weighting and averaging of valuation results offered by parties’ experts to compute amount of overpayment “was founded in established valuation methodology.”

See Also

Perez v. Bruister (II)

Full Text of Court Cases
May 3, 2016

5th Circuit upholds district court’s liability and remedy findings in ESOP case; lower court’s weighting and averaging of valuation results offered by parties’ experts to compute amount of overpayment “was founded in established valuation methodology.”