Golock Capital, LLC v. VNUE, Inc.
The plaintiffs sued for breach of obligations on convertible promissory notes issued to the defendant. The defendant admitted it had not repaid the loans but contended that the rates of interest on the loans were “criminally usurious” and were, therefore, void. Following a bench trial, the U.S. District Court (New York) found that the interest rates were not usurious and ruled in favor of the plaintiffs, including an award for attorneys’ fees.
U.S. District Court (New York) Rules Interest Rates on Loans Are Not Usurious
The plaintiffs sued for breach of obligations on convertible promissory notes issued to the defendant. The defendant admitted it had not repaid the loans but contended that the rates of interest on the loans were “criminally usurious” and were, therefore, void. Following a bench trial, the U.S. District Court (New York) found that the interest rates were not usurious and ruled in favor of the plaintiffs, including an award for attorneys’ fees.
Expert’s ‘Unsupportable’ Inputs Undermine DCF Analysis and Credibility
District court finds expert “forced” spun-off company’s low value by calculating a DCF value that “is low in the extreme and implied an incredibly low trading multiple for the [subject]”; the expert selected “the most pessimistic projections” of future pe ...
U.S. Bank N.A. v. Verizon Communications Inc.
District court finds expert “forced” spun-off company’s low value by calculating a DCF value that “is low in the extreme and implied an incredibly low trading multiple for the [subject]”; the expert selected “the most pessimistic projections” of future pe ...
Arista Records LLC v. Lime Group
Federal court precludes defendants’ damages expert from testifying to causes of music industry declines, but permits his calculation of reasonable royalty based on hypothetical negotiation to server as evidence of “expenses saved” by defendants in their i ...
IRS Burden of Proof Does Not Obviate Errors in Taxpayer Valuation
2nd Circuit rejects taxpayer’s contention that, should IRS fail its burden of proof, then the court must defer to estate’s valuation analysis.
Estate of Thompson v. Commissioner (II)
Second Circuit rejects taxpayer’s contention that should IRS fail its burden of proof, then the court must defer to estate’s valuation analysis.
No Appraisers Needed Where Buy-Sell Agreement Specifies Board Determines FMV of Shares
The Stock Repurchase Agreement of Staffing Industry Analysts Inc. (SIA) required that, upon termination of employment, an employee shareholder would have to sell (and the company to buy) all the shares she then owned.
Daly v. Yessne
The Stock Repurchase Agreement of Staffing Industry Analysts, Inc. (SIA), required that upon termination of employment, an employee shareholder would have to sell (and the company to buy) all the shares she then owned.
Court Labels Experts as Unexperienced, Revalues Company Itself
The issue in this estate tax case was the value of a 20% interest in Thomas Publishing Co. (TPC), a producer and seller of industrial and manufacturing business guides and directories.
Estate of Thompson v. Commissioner (I)
At issue in this case was the fair market value of Thomas Publishing stock.
Michael Viner, et al. v. Charles A. Sweet, et al.
The California Court of Appeal, Second District considered whether the lower court appropriately admitted Viner’s economic expert in this legal malpractice case arising from a business sale. The expert was an accountant and appraiser, but did not have exp ...
International Marketing Group, Inc. v. Lee Speegle, et al.
The Tennessee Court of Appeals affirmed the lower court's calculation of damages based on a breach of a non-compete agreement.
Objections to Expert’s Qualifications and Damage Model Rejected
The Tennessee Court of Appeals affirmed the lower court's calculation of damages based on a breach of a noncompete agreement.