Sullivan v. Loden
In this malpractice case against an estate attorney, the attorney was denied a summary judgment. The primary issue related to the attorney’s valuation of stock of a family business that was gifted to two of the four children of the decedent. While an “equalization payment” was made to each of the two remaining children, one of these two sued the attorney for both breach of fiduciary duty and for undervaluing the stock gifted, resulting in an underpaid equalization payment.
Estate Attorney Is Denied a Summary Judgment for Alleged Incorrect Valuation of Gifts of Stock—Malpractice Case Proceeds
In this malpractice case against an estate attorney, the attorney was denied a summary judgment. The primary issue related to the attorney’s valuation of stock of a family business that was gifted to two of the four children of the decedent. While an “equalization payment” was made to each of the two remaining children, one of these two sued the attorney for both breach of fiduciary duty and for undervaluing the stock gifted, resulting in an underpaid equalization payment.
Court Rejects Expert’s Use of Going Concern Method for Inactive Business
In Daubert ruling, state court excludes valuation the expert claimed was based on the going concern, or “Queenan” methodology; although a reliable method, it cannot be applied to the facts of the case in a reliable manner, considering the business never h ...
O’Rourke v. Burke and Hotchkiss
In Daubert ruling, state court excludes valuation the expert claimed was based on the going concern, or “Queenan” methodology; although a reliable method, it cannot be applied to the facts of the case in a reliable manner, considering the business never h ...
Income Approach Does Not Assume an Actual Buyer for the Business
Court dismisses as “meritless” a Daubert challenge to a $2.7 million business valuation under the income approach, which claimed the expert incorrectly assumed that there was actually a buyer for the company at this amount.
Sann v. Mastrian
Court dismisses as “meritless” a Daubert challenge to a $2.7 million business valuation under the income approach, which claimed the expert incorrectly assumed that there was actually a buyer for the company at this amount.
AccuWeb v. Foley & Lardner
IT company unable to prove economic damages from lapsed patent with “reasonable certainty.”
Law on Enterprise Goodwill in Divorce Limits Valuation in Later Legal Malpractice
In a post-dissolution malpractice action, appraiser may not apply enterprise goodwill in valuing a professional practice if contrary to state law at the time of the divorce.
Weisman v. Schiller DuCanto and Fleck
In a post-dissolution malpractice action, appraiser may not apply enterprise goodwill in valuing a professional practice if contrary to state law at the time of the divorce.
Can a Divorce Client Sue Her Lawyer for Failing to Obtain a Business Valuation?
A divorcing spouse sues her attorney for failing to obtain an appraisal of limited partnerships.
Brent E. Clary v. Lite Machines Corporation
The Indiana Court of Appeals affirmed an award of lost profits in an attorney malpractice action. In doing so, it held that the lost profits award need not be limited to the damages that were recoverable in the case that gave rise the malpractice claim an ...
Business’s Lost Profits Considered in Attorney Malpractice Case
The Indiana Court of Appeals affirmed an award of lost profits in an attorney malpractice action.
Caudill v. Roberts
A divorcing spouse sues her attorney for failing to obtain an appraisal of limited partnerships.
Attorney Malpractice Resulted in $30 Million Lost Profits Award
The California Court of Appeal, 1st District, reversed a $30 million damages award in this attorney malpractice action.
Kairos Scientific Inc. v. Fish & Richardson, P.C.
The California Court of Appeal, 1st District, reversed a $30 million damages award in this attorney malpractice action.
Troy Browning v. Dennis Raymond Smeal
The California Court of Appeals, 2nd District, affirmed the admissibility of a franchise appraisal in this attorney malpractice action.
Franchise Valuation Lacking Proper Foundation Excluded in Attorney Malpractice Action
The California Court of Appeals, 2nd District, affirmed the admissibility of a franchise appraisal in this attorney malpractice action.
Use of Actual Operating Results Establishes Sufficiently Reliable Basis for Lost Profits Computation
The Texas Court of Appeals affirmed a trial court’s admission of lost profits testimony.
Steven F. Bright, et al. v. Harold Addison, et al.
The Texas Court of Appeals affirmed a trial court’s admission of lost profits testimony. It found that the testimony regarding lost profits had a sufficiently reliable basis when the damages were computed using 20-months of actual operating history for th ...
Hatfield v. VanEpps
Law firm uses appraiser to value surgical practice but was already involved in another divorce case with the firm, a case involving another member of the practice.
Strong v. Vestevich
Appellant agreed on record and under oath to voluntarily waive the opportunity for discovery and accept husband's valuation of his GM dealership at trial.
Donna Sue Fischer Faris v. Thomas K. Stone
The Kentucky Supreme Court considered an attorney malpractice claim in connection with the failure to obtain a business valuation pursuant to a divorce. The attorney was found negligent for failing to advise his client of her right to have her husband’s b ...
Statute of Limitations Runs Out on Malpractice Suit
The Kentucky Supreme Court considered an attorney malpractice claim in connection with the failure to obtain a business valuation pursuant to a divorce.
Startup Businesses Can Prove Lost Profits Without Actual Record of Past Earnings
This was a legal malpractice action with an extremely complicated set of facts, in which plaintiffs claimed that defendants breached their fiduciary duties, causing them millions of dollars in damages.
Kilpatrick v. Wiley, Rein & Fielding
Legal malpractice action with an extremely complicated set of facts. Plaintiffs claimed that defendants breached their fiduciary duties, causing millions of dollars in damages.