Banks, Commercial
This industry comprises establishments primarily engaged in accepting demand and other deposits and making commercial, industrial, and consumer loans. Commercial banks and branches of foreign banks are included in this industry.
Direct Evidence of Price Impact Not Always Necessary, 2nd Circuit Says
In a securities fraud action, appeals court upholds class certification; trial court did not err when it found direct evidence of price impact by way of event study was not necessary to show market efficiency where there was strong indirect evidence.
Waggoner v. Barclays PLC
In a securities fraud action, appeals court upholds class certification; trial court did not err when it found direct evidence of price impact by way of event study was not necessary to show market efficiency where there was strong indirect evidence.
Chancery Bases Fair Value Calculation on Income-Based Model
Flawed sales process makes merger price an unreliable indicator of fair value for statutory appraisal, Chancery finds; in accord with party experts, court uses discounted net income approach and adopts most of respondent expert’s inputs for its valuation.
Dunmire v. Farmers & Merchants Bancorp of W. Pa.
Flawed sales process makes merger price an unreliable indicator of fair value for statutory appraisal, Chancery finds; in accord with party experts, court uses discounted net income approach and adopts most of respondent expert’s inputs for its valuation.
Chancery Bases Fair Value Calculation on Income-Based Model
Flawed sales process makes merger price an unreliable indicator of fair value for statutory appraisal, Chancery finds; in accord with party experts, court uses discounted net income approach and adopts most of respondent expert’s inputs for its valuation.
Estate of Kite v. Commissioner
At issue in this taxpayer action was whether the transfer of family partnership interests held by the decedent's lifetime revocable trust to her children in exchange for private annuity agreements was a disguised gift subject to gift tax.
In re Washington Mutual, Inc.
Federal bankruptcy court criticizes debtors’ valuation of its proposed reorganization for being too low and plan objectors value for being too high, ultimately crediting the debtors’ more “complete” valuation, with adjustments.
First Case on Asset-Backed Securities Enlists Expert Loss Causation Model
Expert computer model helps prove loss causation in federal claims of fraud regarding asset-backed securities.
AIG Global Securities Lending Corp. v. BOA
Expert computer model helps prove loss causation in federal claims of fraud regarding asset-backed securities.
Financial Crisis Fallout: Wachovia/Wells Fargo Merger Challenged
Wachovia shareholder sues to enjoin merger with Wells Fargo in the midst of 2008 financial crisis, alleging breach of directors’ duties and unfair merger price.
Loose Lending Practices May Protect Appraisers
Lender attempts to sue appraisal firm after borrower (steel plant) defaults on loan, and forced liquidation is $5 million below appraised asset value.
Ehrenhaus v. Baker
Wachovia shareholder sues to enjoin merger with Wells Fargo in the midst of 2008 financial crisis, alleging breach of directors’ duties and unfair merger price.
Wells Fargo Business Credit, Inc. v. Dovebid Valuation Services, Inc.
Lender attempts to sue appraisal firm after borrower (steel plant) defaults on loan, and forced liquidation is $5 million below appraised asset value.
Case of First Impression: Does Statutory Fair Value Include a Control Premium?
Iowa Supreme Court considers whether 1999 amendments to Model Business Corporation Act precluding marketability and minority discounts also permits control premium.
Northwest Investment Corp. v. Wallace
Iowa Supreme Court considers whether 1999 amendments to Model Business Corp. Act precluding marketability and minority discounts also permits control premium.
Delaware Chancery Prefers 'Traditional’ Over ‘Intuitive’ DCF in Appraisal Action
Delaware Chancery prefers traditional DCF analysis over market approaches to calculate fair value for merger price.
Bank of Orange County v Azar
In this case, the court entered judgment, ex parte, at the request of plaintiff Bank of Orange County (BOC). BOC argued that a settlement agreement previously entered into between the parties provided for an ex parte entry of judgment in accord with a ...
Legal Precedent Is Key to Lost Profits Model in Savings and Loan Case
Court trim lost profits/expectancy damages based on findings of inaccurate assumptions by valuation expert.
Must an ESOP Appraisal Consider the Company’s Potential Sale Negotiations?
Must an ESOP appraisal account for a company’s potential sale negotiations?
First Federal Lincoln Bank v. United States
Court trim lost profits/expectancy damages based on findings of inaccurate assumptions by valuation expert.
Kennedy v. Trustmark National Bank
Must an ESOP appraisal account for a company’s potential sale negotiations?
In re PNB Holding Co.
Delaware Chancery prefers traditional DCF analysis over market approaches to calculate fair value for merger price.
First Time Buy-Sell Agreement Meets Tax Court Requirements for Gift/Estate Valuation
Buy-sell agreement upheld for purposes of establishing estate tax value.
Cost of Replacement Capital in Mitigation Model Must Be Based on Actual, Related Transactions
Cost of replacement capital in mitigation model case must be based on actual events and not post-mitigation merger and issuance of common stock.