In re Del Monte Foods Co. Shareholders Litig.
Court temporarily enjoins stockholder vote on board-approved merger where discovery revealed that board’s financial advisor secretly manipulated sales process to obtain lucrative buy-side financing fees.
Ehlinger v. Hauser (I)
Court finds partnership buyout provision on book value ‘too vague to cure.’
Kahn v. M&F Worldwide Corp.
DE Supreme Court affirms use of business judgment review where controlling stockholder buyout includes two procedural protections for minority and finds valuations from independent financial advisor confirmed merger was favorable to minority stockholders.
Roger J. Grabowski's Expert Report on Kohler v. Comm'r of Internal Revenue
Roger J. Grabowski's Expert Report on Kohler v. Comm'r of Internal Revenue ...
Congel v Malfitano (II)
In wrongful partnership dissolution, New York high court finds, under applicable statute, exiting partner’s interest may be valued under FMV standard of value; where exiting partner’s interest is minority interest, DLOM and minority discount may apply.
Valuation Handbook - Guide to Cost of Capital and the Risk Premium Toolkit: What You Need To Know in 2016
Valuation Handbook - Guide to Cost of Capital and the Risk Premium Toolkit: What You Need to Know in 2016 Webinar Handbook March 30, 2015 Presenter: Roger Grabowski (Duff & Phelps) Please note: This Handbook does not ...
In Re Cellular Tel. P’ship Litig.
In this coordinated action involving 13 partnerships that were involved in freeze-out transactions by AT&T of minority shareholders, AT&T breached its fiduciary duties and effectuated the freeze-out through an unfair process and by paying an unfair price. The freeze-out was subject to the entire fairness standard of review. AT&T bore the burden of proving that the freeze-out was entirely fair to the minority partners. AT&T failed in that proof and thereby sought to capture future value for itself. AT&T did not employ any procedures that insured fairness to the minority partners. The lead partner of the valuation firm had a long-standing relationship with AT&T, and internal AT&T personnel influenced the outcome of the valuation. The court determined the fair value of the interest as a remedy to the situation.
Carnegie Mellon University v. Marvell Technology Group (IV)
District court finds plaintiff’s expert qualified to testify to reasonable royalty calculation under Third Circuit’s liberal interpretation of Daubert despite lack of actual experience negotiating patent licenses; a hypothetical negotiation has no applica ...
Goldfarb v. Yelton
Appellate court affirms trial court’s decision to apportion most of the stock sale proceeds the husband reaped during marriage in connection with a company he set up before marriage to the community under Pereira, finding that during marriage, he became t ...
Treasonable Compensation? The Continued Misapplication of the Excess Earnings Method
Just when BV practitioners thought that reasonable compensation in professional practices had been figured out, Kevin Yeanoplos and Ron Seigneur are here to stir things up. The (mis)application of the excess earnings method has vexed appraisers to no end. In this session, you’ll confront the most common errors that you don’t even know you are making when it comes to reasonable compensation. Be a part of this practice-changing session.
Lyman v. St. Jude Medical S.C., Inc.
The need for independent verification of data and appraiser objectivity is stressed by the U.S. District Court, in a case where the two appraisers took notably different approaches.
DealStats Companion Guide
Free Downloads
The DealStats Companion Guide covers everything you need to know when utilizing the online platform, including a description of the data, data sources, fields and definitions, finding comparable companies, and more.
Fox v. CDx Holdings
Chancery says major accounting firm’s merger-related appraisal represents “new low”; to achieve client’s goal of zero corporate tax liability, firm abandoned sound prior approaches and simply copied another accounting firm’s report and called it its own.
Discounts: Beyond DLOC and DLOM
In estate and gift planning, DLOC and DLOM have always been the discount headliners, but there is an entire cast of court-approved characters that could play a critical role in your value determination. These discounts include lack of voting rights; veto power; nonhomogeneous portfolio; tiered, contingent claims; and personal goodwill. Oh, and have you heard of the ”Mafia” discount? Join this presentation with Lance Hall for a review of all the discounts you should know ...
The Use of Forensic Evidence in Lost Profits Cases
As Michael Kaplan notes in the 2009 edition of The Comprehensive Guide to Lost Profits Damages, "lost profits calculations are invariably done in the context of a legal dispute, with an eye toward possible resolution or an eventual trial." As forensic accountants or expert witness, appraisers are expected to provide testimony and factual and opinion evidence to assist the court in understanding the financial matters. It is imperative then that an expert understand what forensic ...
West Plains, LLC v. Retzlaff Grain Co. (II)
In tortious interference with business relations case, 8th Circuit says district court did not err when it allowed plaintiff’s expert to testify to total loss of value where company was not completely destroyed but harmed; damages award was not excessive.
In re Tronox Incorporated
Bankruptcy Court discredits defendant experts’ “self-contained,” market-oriented solvency analysis finding his DCF analysis relied on inflated, “sell-side” company projections and his comparable analyses used insufficiently similar companies and transacti ...
Subsequent Events
The experts discuss standards for managing subsequent events, judicial precedents and guideline cases, the practicality of solutions to subsequent event problems, and the dangers of "known, knowable, and foreseeable." This is a must for any appraiser whose valuation report or testimony could be skewed by events after the fact.
Washington v. Kellwood Co. (II)
Court strikes down multimillion-dollar lost profits award, finding it was based on expert testimony that was “sheer surmise and conjecture”; using yardstick method, expert claimed upstart company would have achieved 50% of sales of market leader.
Fair Value Measurements in 2020
CEIV. MPF. IVS. In the world of Fair Value Measurement it can be hard to keep your acronyms straight let alone keep your pulse on the latest developments. Expert Mark Zyla leads the demystifying session to help the rest of us to stay current on the issues. Bring questions and start 2020 off right with a kick off session from the man who literally wrote the book on Fair Value Measurements.
Gift and Estate Tax Valuation Update
Join Barry Sziklay for important 2021 income and transfer tax valuation cases as well as the valuation aspects of the adequate disclosure regulations required to report a gift for federal transfer tax purposes and start the statute of limitations running. Internal Revenue Code (IRC) Chapter 14 valuations, Special Valuation Rules §§ 2701-2704, will be addressed in a summary fashion given the complexities of the rules required for a valuation to meet the requirements of Chapter ...
Netquote v. Byrd (II)
Court upholds $1.6 million damages award for lost value of lost customer accounts, rejecting defendants’ argument that according to applicable law, the proper and exclusive measure of damages is lost future profits.
S. Fla. Ent Assocs. v. Hartford Fire Ins. Co.
In this business interruption case resulting from mandatory shutdowns to control COVID-19, the court grants a motion to dismiss claims of the plaintiff. While the plaintiff claims losses due to COVID-19 shutdowns, the plaintiff fails to allege any actual harm to the insured property.
Detailed_Report_For_Divorce_With_Personal_Goodwill
Sample Reports
100 PERCENT OF THE EQUITY OF BLACK INSURANCE AGENCY, INC. VALUATION REPORT SEPTEMBER 24, 2018 ©TRUGMAN VALUATION ASSOCIATES, INC. 2019 May 1, 2019 Law Office of Stevens Law Center, P.A. 1234 NW 9th Drive City, FL 12345 Attn: Joanne Stevens, Esq. Re: Valuation of 100 percent of the equity of Black Insurance Agency, Inc. Dear Ms. Stevens: We have performed a valuation engagement, as that term is defined in the Statement on Standards for Valuation Services (SSVS) of the Association 0f International Certified Professional Accountants of 100 percent of ...
In re Oppenheimer Rochester Funds Group Securities Litigation
Securities fraud claim survives motion to dismiss by alleging that municipal fund managers used Level 3 (unobservable) inputs to value highly risky derivative instead of the observable inputs (actual sales date), as promised in fund disclosures.