Chancery Lauds Advisor’s ‘Heroic’ Efforts at Credible DCF
In joint fairness/statutory appraisal action, Chancery finds defendants’ fraud defeated financial advisor’s ability to produce reliable DCF, notwithstanding advisor’s “heroic” efforts to create “the most credible and reliable projections in the case.”
In re Dole Food Co. (Dole III)
In joint fairness/statutory appraisal action, Chancery finds defendants’ fraud defeated financial advisor’s ability to produce reliable DCF, notwithstanding advisor’s “heroic” efforts to create “the most credible and reliable projections in the case.”
Can a Valuation Firm Serve as Expert Witness?
Chancery says defendant’s valuation expert cannot be corporate entity, i.e., its investment banker, because only a biological person may serve as an expert witness; but firm may substitute a managing director provided he first has adopted expert reports.
Delaware Chancery Orders Disclosure of Nonexpert Internal Valuations
In discovery dispute over prelitigation valuation-related information, Chancery orders dissenting shareholders to disclose internal assessments of stock value finding information likely is admissible reflecting “real-world” opinion of “astute” investors.
In re Dole Food Co. (Dole II)
Chancery says defendant’s valuation expert cannot be corporate entity, i.e., its investment banker, because only a biological person may serve as an expert witness; but firm may substitute a managing director provided he first has adopted expert reports.
In re Dole Food Co. (Dole I)
In discovery dispute over prelitigation valuation-related information, Chancery orders dissenting shareholders to disclose internal assessments of stock value finding information likely is admissible reflecting “real-world” opinion of “astute” investors.