Valuation & Litigation Briefing / Litigation & Valuation Report

VLB

Showing 1–16 of 357 results

  • Beware of 3 common valuation pitfalls

    September / October 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 442

    Abstract: The presence of an error, misstatement or erroneous deviation from customary business valuation practice in an expert’s report is a risky proposition. It could trigger (or worsen) an IRS inquiry or perhaps lead to an embarrassing courtroom mishap. This article identifies some common pitfalls that qualified valuation pros avoid — and to which less-than-qualified ones often fall prey.

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  • ESOP valuations: How much is too much?

    September / October 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 499

    Abstract: The U.S. Department of Labor recently suffered a resounding defeat in Walsh v. Bowers. This article explains why a federal district court rejected the DOL’s claim that an employee stock ownership plan (ESOP) overpaid for the sponsoring company’s stock. Walsh v. Bowers, No. 18-00155 SOM-WRP (D. Hawaii Sept. 17, 2021).

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  • Divorce valuation hinges on expert credibility

    September / October 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 581

    Abstract: A recent Nebraska divorce case illustrates how differences in experts’ assumptions can have a dramatic impact on valuations. This article explains how five critical assumptions affected the experts’ conclusions regarding the value of the husband’s roofing business as of December 31, 2018. Cain v. Cain, No. A-21-068, Court of Appeals of Nebraska (February 1, 2022).

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  • Kars 4 Kids Inc. v. America Can! Cars for Kids – Do you know the difference between lost profits and disgorgement?

    September / October 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 980

    Abstract: A recent trademark infringement case involving competing not-for-profit organizations addresses several interesting issues regarding plaintiffs’ remedies and the calculation of damages. This article summarizes this case and discusses the importance of supporting infringement claims with a comprehensive analysis of the case facts. A sidebar highlights the importance of factoring current market conditions into lost profits calculations and other financial analyses. Kars 4 Kids Inc. v. America Can! Cars for Kids, 8 F.4th 209 (3rd Cir. 2021). Kars 4 Kids Inc. v. America Can! Cars for Kids, Nos. 3:14-cv-7770 and 3:16-cv-4232 (D.N.J. May 9, 2019). Kars 4 Kids Inc. v. America Can! Cars for Kids, Nos. 3:14-cv-7770 and 3:16-cv-4232 (D.N.J. April 1, 2020).

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  • IRS hot button: Deductible management fees vs. disguised distributions

    July / August 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 446

    Abstract: The U.S. Tax Court recently ruled that management fees a corporation paid to shareholders over a three-year period weren’t deductible; instead, they represented disguised distributions. This article summarizes the key points of this decision and explains why it could be relevant outside of a federal tax context. Aspro, Inc. v. Commissioner, TC Memo 2021-8.

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  • Know the company’s value before meeting with lenders

    July / August 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 594

    Abstract: An understanding of a company’s value is critical when applying for new loans to grow the business or renegotiating existing terms to be more favorable. This article explains why a balance sheet can present an incomplete picture of financial position. Current market values are based on future earnings and the prices paid for comparable companies.

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  • Delaware Chancery Court weighs in on fair value in statutory buyouts

    July / August 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 643

    Abstract: Reliable market indicators often provide the best evidence of a corporation’s fair value in statutory appraisal rights cases. This article summarizes a recent Delaware Chancery Court case that based the buyout price for a dissenting shareholder’s interest on two market-based value indicators. The court also factored in changes in value between the merger’s signing and closing dates. In Re Appraisal of Regal Entertainment Group, Cons. C.A. No. 2018-0266-JTL, Court of Chancery of the State of Delaware (May 13, 2021). BCIM Strategic Value Master Fund LP v. HFF, Inc., C.A. No. 2019-0558-JTL, Court of Chancery of the State of Delaware (February 2, 2022).

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  • Harvey v. Harvey – Buy-sell provision applies to divorce valuation

    July / August 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 844

    Abstract: The Fifth District Court of Appeals of California recently addressed the valuation of a closely held business in connection with a divorce. Notably, the court valued the wife’s 50% interest pursuant to the valuation provisions of a buy-sell agreement rather than the state’s family code. This article explains why the appellate court rejected a discount for taxes that weren’t “immediate and specific,” but allowed a discount for lack of marketability. Harvey v. Harvey, No. F078166, Court of Appeals of California, Fifth District (December 16, 2021).

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  • Strategic M&A due diligence should look to the future

    May / June 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 598

    Abstract: The business world has changed dramatically over the last two years. When buying a business, it’s imperative to evaluate its expected future performance, rather than focus on its historical results. This article explains how strategic due diligence can help vet an acquisition’s potential success or failure by concentrating on four key areas: the market, customers, competitive positioning and management.

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  • Hartman v. BigInch Fabricators & Construction Holding Company, Inc. – Court allows valuation discounts under shareholder agreement

    May / June 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 451

    Abstract: In a minority shareholder buyout case, the Indiana Supreme Court held that the language of a shareholder agreement controlled the application of valuation discounts under its mandatory buyback provision. This article summarizes the reasons that the high court reversed the appellate court finding. Hartman v. BigInch Fabricators & Construction Holding Company, Inc., No. 20S-PL-618, Supreme Court of Indiana (January 28, 2021).

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  • Spotlight on discounted cash flow

    May / June 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 826

    Abstract: As businesses pivot to market changes during the COVID-19 pandemic, valuation experts are increasingly likely to rely on the discounted cash flow method to value businesses. This article explains how this method works and when it may be appropriate. In re Kinser Group LLC, No. 2:20-bk-09355-DPC (Bankr. D. Ariz., Dec. 18, 2020).

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  • How to factor cybersecurity concerns into a business valuation

    May / June 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 595

    Abstract: It’s critical for business valuation professionals to assess cyber risks when valuing a business. This article highlights the far-reaching effects of cyberattacks, frameworks that experts use to evaluate cyber risks and ways these risks may be factored into an expert’s conclusion.

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  • Accounting 101: Levels of assurance

    March / April 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 438

    Abstract: A financial expert’s analysis is only as reliable as the data it’s based on. Too often, a company’s owners and counsel mistakenly assume that an accounting firm’s work always carries an independent audit’s stamp of approval. This article explains why all financial statements aren’t created equal — there are three distinct levels of assurance: compilations and preparation services, reviews, and audits.

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  • How financial experts solve the mystery of hidden assets

    March / April 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 551

    Abstract: In many litigation contexts — such as marital dissolutions and fraud investigations — one party may have a financial incentive to hide personal assets or income. Identifying and quantifying these undisclosed or underreported items can be challenging. This article discusses where financial professionals look for clues and how they quantify what’s missing.

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  • Maginnis v. Maginnis – Court addresses apportionment of goodwill in divorce

    March / April 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 652

    Abstract: A question that often arises in divorces cases is: To what extent should goodwill be included in the marital estate? The treatment of goodwill varies from state to state. In some situations, it may be necessary to consider legal precedent from other states for guidance. This article summarizes a recent appellate court case from Kentucky that addresses this issue. Maginnis v. Maginnis, No. 2019-CA-1090-MR (Ky. App. 2021). Gaskill v. Robbins, 282 S.W.3d 306 (Ky. 2009). Yoon v. Yoon, 711 N.E.2d 1265 (Ind. 1999).

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  • Discounting majority interests – Tax Court tackles valuation of real estate LLCs

    March / April 2022
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 900

    Abstract: A recent U.S. Tax Court case addressed the valuation of majority interests in five real estate holding companies for estate tax purposes. This article summarizes how the court in Estate of Warne addressed the issue of valuation discounts for majority interests held by the estate and for fractional interests donated to charity. A sidebar explains how failure to consider external market conditions can be a potential pitfall when calculating economic damages. Estate of Miriam M. Warne, T.C. Memo. 2021-17 (February 18, 2021).

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