Advocate's Edge / Litigation Support
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Showing 1–16 of 380 results
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Apportionment: Does your damages expert understand this legal concept?
September / October 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 451
Abstract: In Niazi Licensing, the U.S. Court of Appeals for the Federal Circuit excluded the testimony of a damages expert on the proper royalty rate for an infringed method patent. This article summarizes the case and explains where the expert went wrong. Niazi Licensing Corp. v. St. Jude Medical S.C., Inc., No. 21-1864 (Fed. Cir. April 11, 2022).
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Due diligence is critical when buying a distressed business
September / October 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In the aftermath of the COVID-19 pandemic and the ensuing market volatility, some businesses are struggling to survive. This article explains that a distressed business may be a prime target for a takeover — but due diligence is critical to avoid overpaying.
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Ransomware attacks on the rise
September / October 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 619
Abstract: Cyber insurance providers — including Marsh and Resilience — are reporting upticks in ransomware claims in 2023. This article highlights this trend and provides best practices for preventing and responding to these attacks.
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Estate of Cecil v. Commissioner – Tax Court permits tax affecting of S corp earnings
September / October 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: The debate about tax affecting when valuing pass-through entities for federal gift and estate tax purposes continues. “Tax affecting” refers to the practice of reducing a business’s projected future earnings for hypothetical corporate income taxes. This article explains why the U.S. Tax Court reluctantly allowed tax affecting in a recent case. Estate of Cecil v. Commissioner, T.C. Memo. 2023-24 (Tax Ct. Feb. 28, 2023). Gross v. Commissioner, T.C. Memo. 1999-254, aff’d, 272 F.3d 333 (6th Cir. 2001).
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Is your expert independent?
July / August 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 418
Abstract: Even the appearance of bias can be detrimental to an expert witness’s credibility. In today’s legal environment, it’s common to discredit an expert based on his or her relationship with counsel, the client or the judge. This article examines three common red flags that indicate an expert may lack independence.
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Brooks v. Commissioner – “Gross” overvaluation of easement donation leads to 40% tax penalty
July / August 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 552
Abstract: It’s generally not a good sign when the U.S. Tax Court describes your expert’s value conclusion as “incredible as a practical matter.” Recently, taxpayers who claimed charitable contribution deductions for donating a conservation easement learned that lesson the hard way. Not only did the court reject the value provided by the taxpayers’ expert, but it also assessed a 40% penalty for a “gross valuation misstatement.” This article summarizes this recent case. Brooks v. Commissioner, T.C. Memo. 2022-122, Dec. 19, 2022.
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How to investigate fraud claims
July / August 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: When it comes to uncovering the truth about fraud suspicions, the job is best left to experienced forensic accountants. They’re trained to follow the footprints criminals may leave behind and help build a defensible case. This article discusses best practices that forensic accountants use to conduct interviews and gather evidence.
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Expert testimony – Defense’s challenges go to weight — not admissibility
July / August 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 927
Abstract: The resolution of a federal Rule 702 and Daubert motion in an ongoing complex litigation shows how a federal judge views the admissibility of expert testimony versus weight. This article summarizes why the U.S. District Court for the Northern District of Texas ruled that several arguments against admissibility amounted to issues of weight that should be left to the jury. A sidebar highlights four factors that are considered in Daubert challenges and potential upcoming changes to Federal Rule of Evidence 702. VeroBlue Farms U.S., Inc. v. Wulf, et al., Civil Action 3:19-CV-0764-X (N.D. Tex. Mar. 13, 2023). Daubert v. Merrell Dow Pharmaceuticals, Inc., 509 U.S. 579 (1993).
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To discount or not to discount? Court rules discounts are inappropriate in forced buyout case
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: New Jersey law allows discounts for lack of control and lack of marketability in certain fair value situations. But the propriety of these discounts depends on many factors, including what’s fair and equitable for the circumstances. This article explains why the court decided against applying discounts when valuing the interests of dissociated minority partners in a shopping mall. Robertson v. Hyde Park Mall, No. 13370-13 (N.J. Super. May 19, 2022).
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M&A advisor: How to protect deals from targeted ransomware attacks
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 538
Abstract: Merger and acquisition volume is expected to rebound to pre-pandemic levels in 2023, according to a recent survey by Citizens Bank. The survey also found that sellers are increasingly seeking guidance from financial professionals to maximize the price. However, there’s a new reason for sellers to seek professional advice — to lower the risk of ransomware attacks. This article explains how these frauds are perpetrated and provides prevention tips.
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Secrets to a successful turnaround strategy
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: The COVID-19 pandemic took a toll on many businesses. However, companies that were able to hunker down and save cash during the economic downturn may be in a position to buy competitors that are in financial distress. But acquiring a troubled target can also pose greater risks than buying a financially sound business. This article discusses ways a valuation professional can help reduce such risks.
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Furrer v Siegel & Rouhana, LLC – Lack of buy-sell agreement leads to lengthy litigation
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 886
Abstract: When small businesses and professional practices operate without an effective operating or buy-sell agreement, costly disputes may arise when the owners part ways. This article summarizes a recent case involving a law firm that drives this point home. A sidebar provides best practices when drafting valuation provisions of buy-sell agreements. Furrer v Siegel & Rouhana, LLC, No. 13370-13 (Md. App. Oct 17, 2022).
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How do value conclusions and value calculations differ?
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 421
Abstract: The value of a business is relevant in a wide variety of legal contexts, including divorces, shareholder disputes, mergers, bankruptcy and tax planning. Understanding the different services valuators offer can facilitate informed decision-making. This article compares and contrasts two common types of valuation services: calculations of value and conclusions of value.
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Detecting fraud with proactive measures
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 666
Abstract: Each year, businesses lose about 5% of revenue to fraud, according to Occupational Fraud 2022: A Report to the Nations. A key takeaway from the biennial report is that active detection methods are far more effective than passive methods in reducing fraud loss and duration. This article delves into the details of this finding and provides other key takeaways from the report.
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Estate of Levine – Taxpayer wins on value of split-dollar arrangement
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 526
Abstract: The U.S. Tax Court recently rejected the IRS’s attempt to essentially triple the value of a split-dollar life insurance arrangement in a decedent’s taxable estate. This article summarizes this case and highlights the importance of careful drafting in estate plans. Estate of Levine, No. 13370-13 (Tax Ct. Feb. 28, 2022).
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IRS sheds light on subsequent events and recycled valuation reports
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 935
Abstract: A recent IRS Chief Counsel Advice memorandum offers valuable insight into the IRS’s perspective on whether subsequent events may be considered when estimating the fair market value of a private business interest for gift tax purposes. The memorandum — which can’t be used or cited as legal precedent — also addresses the issue of re-using previously issued valuations for gift and estate tax purposes. This article summarizes the key takeaways from this unofficial guidance. A sidebar explains when valuators may factor subsequent events into their analyses.