Sample size debate spills over onto LinkedIn
What’s the minimum number of transactions that should be used from a database such as BIZCOMPS or Pratt’s Stats?
Debate continues on use of statistics
“I can no longer stay a silent observer,” says Gary Trugman (Trugman Valuation) about the back-and-forth over how many transactions should be used in the application of the transaction method of appraisal.
BV experts cross swords over statistics
What’s the minimum number of transactions that should be used from a database such as BIZCOMPS or Pratt’s Stats?
ESOP Trustee Evaded Fiduciary Duties by Delegating Valuation
Court finds ESOP trustee liable for causing plan to overpay; trustee “delegated” valuation to ESOP valuator without inquiring into valuation components, including projections, and without exploring “glaring” gaps (industry analysis) in valuation report.
ESOP Trustee Evaded Fiduciary Duties by Delegating Valuation
Court finds ESOP trustee liable for causing plan to overpay; trustee “delegated” valuation to ESOP valuator without inquiring into valuation components, including projections, and without exploring “glaring” gaps (industry analysis) in valuation report.
Perez v. First Bankers Trust Services, Inc.
Court finds ESOP trustee liable for causing plan to overpay; trustee “delegated” valuation to ESOP valuator without inquiring into valuation components, including projections, and without exploring “glaring” gaps (industry analysis) in valuation report.
Beware of Distortions of Market Multiples During a Recession
Valuation multiples are distorted during times of recession and high market volatility, such as the period from 2008 through 2011. To demonstrate this, I developed a mini case study based on an actual valuation we performed a couple of years ago. The subj ...
Valuation of high-tech companies requires modification of standard approaches
The valuation of early stage technology companies ("high-tech") is significantly more challenging than valuing more mature businesses in other industries. These companies are commonly characterized by ...
Additional evidence of size difference in market multiples
In my last two editorial columns, I presented evidence that smaller companies tend to sell at lower valuation multiples than do larger companies. The accompanying table is further corroboration of tha ...
Liquidity Discount Inappropriate in Fair Value Case
The issue in this judicial appraisal action was the fair value of petitioners' 500,000 shares of WXL International Inc.
Borruso v. Communications Telesystems International
At issue is the fair value of the shares of common stock of WXL International, Inc. ("WXL"), a Delaware corporation, on the date on which WXL was merged with a with and into its parent corporation, Communications Telesystems International.
Court Concludes Fair Value Is 30 Times Price, Originally Offered Marketability Discount Inappropriate in Delaware Fair Value Case
The issue in this judicial appraisal action was the fair value of petitioners' 500,000 shares of WXL International Inc. (WXL).
IBA Conference
n The court appointed expert Darrell V. Arne, CBA, ASA, CPA, CBI Arne & Co. Albuquerque, NM Darrell emphasized that there is a demand for court-appointed experts, courts and litig ...