Collins v. Tabs Motors of Valley Stream Corp.
In this New York business divorce case, the court held that the shareholders agreement was enforceable, as well as the stipulated value of the buyout price as determined in Schedule B of the shareholders agreement. Claims by petitioners of breach of fiduciary duty and related claims, including a years-old certificate of value, were not sufficient to overcome the unambiguous terms of the buy-sell agreement.
In a New York Business Divorce, a Petition for Dissolution Triggers Buy-Sell Agreements
In this New York business divorce case, the court held that the shareholders agreement was enforceable, as well as the stipulated value of the buyout price as determined in Schedule B of the shareholders agreement. Claims by petitioners of breach of fiduciary duty and related claims, including a years-old certificate of value, were not sufficient to overcome the unambiguous terms of the buy-sell agreement.
Failure to Do Independent Price Impact Analysis Begets Class Certification
Court certifies securities fraud class action where plaintiff expert’s analysis shows market efficiency and where defense expert fails to perform independent event study to show lack of price impact and disprove effect of alleged misrepresentations.
Li v. Aeterna Zentaris, Inc.
Court certifies securities fraud class action where plaintiff expert’s analysis shows market efficiency and where defense expert fails to perform independent event study to show lack of price impact and disprove effect of alleged misrepresentations.
Defense Event Study Rebuts Plaintiff’s Price Impact Claim
Court denies class certification in securities fraud case, finding defense financial expert is able to rebut presumption of reliance by way of event study that shows defendant’s alleged misrepresentation had no significant impact on company’s stock price.
In re Finisar Corp. Secs. Litig.
Court denies class certification in securities fraud case, finding defense financial expert is able to rebut presumption of reliance by way of event study that shows defendant’s alleged misrepresentation had no significant impact on company’s stock price.
Baker v. Seaworld Entm’t, Inc.
Court grants class certification in securities fraud case; defense expert’s event study to show absence-of-price-impact fails to rebut presumption of reliance; plaintiff meets predominance requirement and its expert offers valid classwide damages model.
Court Balks at Event Study’s Singular Focus on Misrepresentation
Court grants class certification in securities fraud case; defense expert’s event study to show absence-of-price-impact fails to rebut presumption of reliance; plaintiff meets predominance requirement and its expert offers valid classwide damages model.
Direct Evidence of Price Impact Not Always Necessary, 2nd Circuit Says
In a securities fraud action, appeals court upholds class certification; trial court did not err when it found direct evidence of price impact by way of event study was not necessary to show market efficiency where there was strong indirect evidence.
Waggoner v. Barclays PLC
In a securities fraud action, appeals court upholds class certification; trial court did not err when it found direct evidence of price impact by way of event study was not necessary to show market efficiency where there was strong indirect evidence.
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.
Valuation Combines Elements of Rival Experts’ Cash Flow Analyses
Appeals court defers to trial court’s method of applying one expert’s cap rate to other expert’s cash flow analysis when valuing spouse’s interest in closely held company and says “purposeful” application of minority discount has support among valuators.
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.
Browne v. Browne, Jr.
Appeals court defers to trial court’s method of applying one expert’s cap rate to other expert’s cash flow analysis when valuing spouse’s interest in closely held company and says “purposeful” application of minority discount has support among valuators.
In Re Marriage of Hogeland
Appeals court says where professional will continue practice, goodwill is a factor in determining future earnings capacity for purposes of alimony; however, trial court erred when it also treated goodwill as an asset in valuation of practice’s stock.