JP Morgan Chase & Co. v. Commissioner of Internal Revenue
Seventh Circuit overturns Tax Court’s fair market valuation of interest swaps, saying it didn’t give due deference to Commissioner’s calculations.
Disparity Between Valuations of Hedge Funds of Unlisted Securities Not Misleading by Itself; Self-Dealing Needed for Fraud
Beacon Hill Asset Management LLC (Beacon Hill), an investment manager of hedge funds that invested in mortgage-backed and related securities, allegedly overstated the net asset values (NAV) of three funds from March 2000 through September 2002 by as much as 61.22%.
Fraternity Fund Ltd. v. Beacon Hill Asset Management LLC
One of the issues was whether Beacon Hill's valuations were fraudulent because they deviated from valuations done by independent appraisers/brokers.
In re the Marriage of Duncan
At issue is the valuation of husband's interest in an investment advisory business.
Court rejects adjustment for post-separation efforts
The issue appealed from the Duncan marital dissolution concerned the value of an investment advisory company.
Moll v. Moll
Issues are whether personal or professional goodwill constitute "property" or "a thing of value" and whether NY domestic relations statutes recognize goodwill as marital property.
Financial Advisor's Book of Business Represents Goodwill and Therefore Marital Property
In this marital dissolution, the husband filed for partial summary judgment concerning the equitable distribution of the marital assets.
Parrott v. Coopers & Lybrand, L.L.P.
At issue is the valuation of employee's stock after termination and breach of fiduciary duty by the majority shareholder.
Accountants for Company Not Liable to Terminated Employee
This accountant malpractice action arose as a result of the plaintiff's efforts to obtain a higher price for his 40,500 shares of stock of Pasadena Capital Corp., an investment advisor firm.
Advisor Sues to Collect Fees for Advice and Fairness Opinion
Wessels, an investment banking firm, rendered financial advisory services and a fairness opinion for National Medical Waste Inc. regarding a proposed merger.
Wessels v. National Medical Waste
At issue is whether National Medical Waste's payment to Wessels is conditioned upon the completion of a potential merger even though Wessels performed in accordance with the contract.