Secret witnesses may appear in overvaluation case
In a New Jersey class action, plaintiff shareholders of publicly held Ascena Retail Group alleged that the company misrepresented the value of its goodwill and trade names to inflate the stock price artificially.
Highlights From the 2022 NYSSCPA BVLS Conference
Money laundering, earnouts, valuing debt, and SPAC enforcement are a few of the topics presented at the Business Valuation and Litigation Services (BVLS) conference hosted by the New York State Society of CPAs. Here are some key takeaways.
BV News and Trends July 2022
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends July 2022
Business valuation news from a global perspective.
The 2022 Review and Update of BV Standards and Guidance – What you Need to Know
Valuation standards and guidance areas of business valuation are constantly expanding and being updated. The increase in business valuation worldwide has had a lot to do with this expansion, as has the increase in valuation within financial statements worldwide. Jim Alerding will update you on the current status of business valuation standards and other guidance documents, including new standards and new areas of discussion and guidance concerning business valuation. The program will provide the attendee ...
NACVA ‘super conference’ August 17-19
BVWire is looking forward to attending the first major conference of the year, the Business Valuation & Financial Litigation Hybrid & Virtual Super Conference hosted by the National Association of Certified Valuators and Analysts (NACVA).
Global BV News: IVSC launches Asia office in Singapore
The International Valuation Standards Council (IVSC) has selected Singapore as its first base outside Europe to drive its advocacy efforts in the adoption of International Valuation Standards (IVS) in Asia.
The New Stark FMV is a Game-Changer: Foundational Concepts and Valuation Methodology
This two-part BVR webinar series provides a critical and in-depth assessment of the new definitions of fair market value under the regulations for the federal physician self-referral law commonly known as “Stark.” Many in the healthcare valuation industry have viewed the updated definitions, along with new commentary from the Center for Medicare & Medicaid Services (CMS), as promoting “business as usual” for healthcare valuation practice. Timothy Smith, however, begs to differ. Smith was a major ...
BVLaw Case Update
Join Jim Alerding and Jim Ewart, veteran valuators, and Drew Soshnick, family law attorney and experienced valuation expert, for a discussion of some of the most consequential recent valuation and financial litigation decisions. The three experts will present and discuss this selection of six to eight state and federal cases. The analysis of these cases, handpicked by the experts for their importance, will provide insight into current issues in the business valuation arena and discussion ...
NACVA adds 159 newly credentialed members
The National Association of Certified Valuators and Analysts (NACVA) has more credentialed appraiser members than both the AICPA and American Society of Appraisers (ASA) combined.
Global BV News: CBV Institute membership grew 4% in 2021
The Chartered Business Valuators Institute (CBV Institute) is Canada’s valuation professional organization (VPO) and standard-setter.
Global BV News: Recording available of MAPPI webinar on IP valuation
Intellectual property valuation for financing was the topic of a July 7 webinar conducted by MAPPI (Masyarakat Profesi Penilai Indonesia; Indonesian Society of Appraisers).
Weinstein v. Weinstein
In this Vermont divorce case, the Supreme Court affirmed the value of the husband’s law practice even though there was evidence of some potential personal goodwill left in the value determined by the lower court. The Supreme Court also affirmed the wife’s expert’s determination of the husband’s income for maintenance purposes. Note that, per the court, “decisions of a three-justice panel are not to be considered as precedent before any tribunal.”
Vermont Supreme Court Affirms Value of Husband’s Law Practice, Declines to Eliminate Personal Goodwill, Affirms Determination of Husband’s Income
In this Vermont divorce case, the Supreme Court affirmed the value of the husband’s law practice even though there was evidence of some potential personal goodwill left in the value determined by the lower court. The Supreme Court also affirmed the wife’s expert’s determination of the husband’s income for maintenance purposes. Note that, per the court, “decisions of a three-justice panel are not to be considered as precedent before any tribunal.”
ASA seeks donations for fundraising auction by July 22
To kick off its Annual International Conference, the American Society of Appraisers is looking for donations for an online auction to raise funds for ASA’s Educational Foundation for its course-taking grants to up-and-coming young appraisers.
Global BV News: 2022 market risk premium and risk-free rate indications from Pablo Fernandez
The results of Professor Pablo Fernandez’s latest survey of the market risk premium (MRP) and risk-free rate (RF) used in 95 countries in 2022 has been released.
Global BV News: Valuation opportunities in the MENA region
The Middle East North Africa (MENA) region appears to be a high-growth area for the valuation profession, according to a recent panel discussion with TAQEEM, Kroll, and Deloitte.
BV News and Trends June 2022
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends June 2022
Business valuation news from a global perspective.
Global BV News: CBV Institute’s new board reflects commitment to diversity
Almost half of the 2022-23 board of directors of the CBV Institute are female, but the organization “will not stop here,” said Dr. Christine Sawchuk, the group’s president and CEO.
Global BV News: IVSC annual meeting in Fort Lauderdale, Fla., September 14-16
After two years of virtual meetings, the International Valuation Standards Council (IVSC) will hold an in-person annual general meeting (AGM) at the Renaissance Marina Hotel in Fort Lauderdale, Fla., from September 14 to September 16.
In re Ascena Retail Grp., Inc. Sec. Litig.
In this securities putative class action litigation, plaintiff shareholders alleged that the defendants (Ascena) misrepresented the value of Ascena’s goodwill and trade names in order to inflate Ascena’s stock price artificially. In June 2017, Ascena announced an impairment charge to those assets of $1.3 billion “causing Ascena's already-declining share price to fall precipitously. Ascena ultimately declared Chapter 11 bankruptcy in July 2020.” The defendants moved to dismiss for failure to plead material misrepresentation or scienter or both. The court granted the motion to dismiss but allowed the plaintiffs to amend their complaint.
New Jersey U.S. District Court Dismisses Plaintiffs’ Complaint That Public Company Defendant Overvalued Its Goodwill
In this securities putative class action litigation, plaintiff shareholders alleged that the defendants (Ascena) misrepresented the value of Ascena’s goodwill and trade names in order to inflate Ascena’s stock price artificially. In June 2017, Ascena announced an impairment charge to those assets of $1.3 billion “causing Ascena's already-declining share price to fall precipitously. Ascena ultimately declared Chapter 11 bankruptcy in July 2020.” The defendants moved to dismiss for failure to plead material misrepresentation or scienter or both. The court granted the motion to dismiss but allowed the plaintiffs to amend their complaint.
NACVA agenda announced for August ‘super conference’
The National Association of Certified Valuators and Analysts moved its traditional in-person June conference to August in Salt Lake City, and the agenda has just been released (click here to see it).
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