Aversion to 'Costly Appraisal' Lands Majority in Court: 'Transaction Method' Carries the Day
The issue in this appraisal action was the value of Montgomery Cellular (MCHC), a telecommunications holding company.
Dobler v. Montgomery
The issue in this appraisal action was the value of Montgomery Cellular (MCHC), a telecommunications holding company.
Vacchiano v. Speier
At issue in this case was the trial courts failure to account for tax consequences in LLC valuation.
Smith v. Van Gorkom
At issue is breach of fiduciary duty to stockholders.
Matthew Headley Holdings, LLC v. McCleary, Inc.
The U.S. District Court for the Western District of Missouri excluded an economic expert’s testimony in this breach of contract action because his report lacked adequate foundation.
Court Combines Benchmarking Studies to Determine Reasonable Compensation of Hybrid Executive
Two of the issues in this complex bankruptcy matter were: (1) whether Marshall Cogan was paid excessive compensation from Trace International Holdings Inc. and Trace Foam Sub Inc. (collectively “Trace”); and (2) whether Trace was insolvent so that the redemption of stock and the declaring of dividends were rendered illegal.
Tax Court Rejects Pre-IPO Studies, Finds DLOM Accounts for More Than Illiquidity
Petitioners Charles T. and Mary S. McCord gifted interests in McCord Interests Ltd. LLP (MIL) to their four children, trusts for the benefit of the children, and two charitable organizations by way of assignment agreements.
Conversion Measure of Damages Inappropriate in Breach of Contract Case
The U.S. Court of Appeals for the 2nd Circuit reversed the district court’s calculation of damages for breach of contract to assign warrants in a publicly traded company.
Oscar Gruss & Son, Inc. v. Yossie Hollander
The U.S. Court of Appeals for the 2nd Circuit reversed the district court’s calculation of damages for breach of contract to assign warrants in a publicly traded company.
McCord v. Commissioner (I)
Business Valuation and Taxes: Procedure, Law and Perspective ...
Pereira v. Cogan
Action against controlling shareholder and directors for breach of fiduciary duty, including allegations of excess compensation for the controlling shareholder.
No DLOM Absent Extraordinary Circumstances; Bright-Line Rule Prohibiting Built-in Gains Discount Rejected
The issue, in this case of first impression in Washington, was the propriety of discounts for lack of marketability and built-in capital gains in a dissenters' rights proceeding.
Norton Co v. Smyth
The issue, in this case of first impression in Washington, was the propriety of discounts for lack of marketability and built-in capital gains in a dissenters' rights proceeding.
Bright-Line Rule Barring Discounts Is Inappropriate
The Washington Court of Appeals reversed a trial court’s bright-line rule prohibiting discounts for lack of marketability and built-in capital gains taxes when determining fair value in a dissenters’ rights action.
Damage Expert’s Testimony Admitted Over Daubert Challenge
The U.S. Court of Appeals for the 1st Circuit considered the admissibility of expert testimony.
Jury Verdict Supported by Valuation Evidence
Pangman owned 564 shares in Garten Brau Holding Co. Inc. (GBH).
5th Circuit Acknowledges Substantial Built-In Tax Liability on Timber Property
The issue on appeal was whether the Tax Court erred in the valuation of closely held stock and improperly denied a full discount for capital gains liability.
Pangman v. King
Pangman and Schmitt sued, claiming King converted their interests in the stock and made material misrepresentations that caused them damages.
Gerhard Frank Dobler, et al. v. Montgomery Cellular Holding Co., Inc. (MCHC I)
The Delaware Court of Chancery concluded that prior appraisals of Montgomery Cellular were not discoverable in this books and records action because they were not necessary for Dobler’s expert to perform an independent valuation of the company.
Appraisals Not Discoverable in Books and Records Suit
The Delaware Court of Chancery concluded that prior appraisals of Montgomery Cellular were not discoverable in this books and records action because they were not necessary for Dobler’s expert to perform an independent valuation of the company.
Estate of Jameson v. Commissioner
At issue is whether the Tax Court erred in valuing assets of Johnco, Inc. ("Johnco"), a holding company that is part of the estate.
5th Circuit Reverses Tax Court's Capital Gains Discount 'Model'
The issue on appeal was whether the Tax Court erred in the valuation of closely held stock and improperly denied a full discount for capital gains liability.
'Net Asset Value' Rejected as Form of Liquidation
This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc.
Gow v. Commissioner (I)
At issue is the value of shares of stock of Williamsburg Vacations, Inc., awarded to the plaintiff.
Tax Court Values Bonus Compensation Stock, Applies Two-Tier Discounts
The valuation issue in this case pertained to the fair market value of two minority blocks of stock of Williamsburg Vacations Inc. (WVI) issued as bonus compensation to a shareholder/officer/director of a C corporation investment holding company in early 1989 and 1990.