Valuation/Lit. sup./Fraud/M&A
Showing 33–48 of 1569 results
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Consultants vs. expert witnesses: It pays to hire both
July / August 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 433
Abstract: Outside professionals can play a critical role in litigation, particularly in cases involving complex financial or accounting issues. But it’s important to understand that these experts can serve two distinct roles as 1) consultants and 2) expert witnesses. This article explains the advantages of keeping these roles separate, rather than using one expert for both.
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Ramcell, Inc. v. Alltel Corporation – Court’s DCF analysis nearly quadruples stock valuation
July / August 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 573
Abstract: In a recent appraisal action, the Delaware Chancery Court determined that the fair value of the petitioner’s stock was $11,464 per share using the discounted cash flow (DCF) method. This was nearly four times the consideration received in connection with a short-form merger under Delaware law. This article provides a summary of the court’s ruling. Ramcell, Inc. v. Alltel Corporation, C.A. No. 2019-0601-PAF (Del. Ch. October 31, 2022).
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How to communicate statistical evidence to jurors
July / August 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 639
Abstract: Statistical evidence can be pivotal in many types of commercial litigation related to liability and economic damages. But this type of evidence can cause jurors’ eyes to glaze over with boredom, lack of comprehension or skepticism — unless it’s presented just right. This article describes ways to engage jurors and overcome hurdles when presenting statistical evidence in court.
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Using earnouts and CVRs in M&A transactions
July / August 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 847
Abstract: Earnouts can help bridge the valuation gap between buyers and sellers in mergers and acquisitions. This article provides an overview of the complex accounting and tax issues that earnouts and contingent value rights (CVRs) may raise. A sidebar highlights recent IRS guidance on structured attorneys’ fee arrangements. Childs v. Commissioner, 103 T.C. 634 (1994), aff’d without opinion, 89 F.3d 856 (11th Cir. 1996).
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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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Market approach: Don’t compare apples to oranges
May / June 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: Under the market approach, the value of a business is derived from comparisons between the subject company and transactions involving similar businesses. This article lists factors to consider when selecting “comparables” and explains how the availability of closely tied comparables can affect an expert’s analysis. Heck v. Commissioner, T.C. Memo. 2002-34.
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M&A due diligence – Buyers should exercise caution when relying on financial statements
May / June 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 626
Abstract: Comprehensive due diligence is an essential part of acquiring a business. But it can be a daunting task — especially for inexperienced buyers. This article explains how financial professionals can help evaluate historical and prospective financial statements, identify potential hidden liabilities and misrepresentations, and prepare independent forecasts and projections. This information is critical when determining the optimal offer price and deal terms.
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Valuing collateral in bankruptcy
May / June 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 663
Abstract: A recent decision from the U.S. Court of Appeals for the Second Circuit provides a useful primer on how to value collateral for bankruptcy purposes. This article summarizes this complex case, which demonstrates the leeway given to bankruptcy when valuing collateral and the importance of providing reasonable, well-supported valuation analyses and methods. In re Sears Holdings Corporation, 51 F. 4th 53 (2nd Cir. 2022).
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Court rejects valuation based on unsustainable past earnings
May / June 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: In a recent divorce case, an Arizona court of appeals vacated a trial court’s ruling regarding the value of a 25% business interest owned by the wife. This article summarizes the case. A sidebar highlights another Arizona appellate court decision in which a calculation of value was accepted without a full opinion of value. In re Riddle, No. 1 CA-CV 21-0249 FC (Ariz. App. April 5, 2022). Mikalacki v. Rubezic, No. 1 CA-CV 21-0483 FC (Ariz. App. October 18, 2022).
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Market approach: Don’t compare apples to oranges
May / June 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: Under the market approach, the value of a business is derived from comparisons between the subject company and transactions involving similar businesses. This article lists factors to consider when selecting “comparables” and explains how the availability of closely tied comparables can affect an expert’s analysis. Heck v. Commissioner, T.C. Memo. 2002-34.
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M&A due diligence – Buyers should exercise caution when relying on financial statements
May / June 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 626
Abstract: Comprehensive due diligence is an essential part of acquiring a business. But it can be a daunting task — especially for inexperienced buyers. This article explains how financial professionals can help evaluate historical and prospective financial statements, identify potential hidden liabilities and misrepresentations, and prepare independent forecasts and projections. This information is critical when determining the optimal offer price and deal terms.
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Valuing collateral in bankruptcy
May / June 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 663
Abstract: A recent decision from the U.S. Court of Appeals for the Second Circuit provides a useful primer on how to value collateral for bankruptcy purposes. This article summarizes this complex case, which demonstrates the leeway given to bankruptcy when valuing collateral and the importance of providing reasonable, well-supported valuation analyses and methods. In re Sears Holdings Corporation, 51 F. 4th 53 (2nd Cir. 2022).
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Court rejects valuation based on unsustainable past earnings
May / June 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: In a recent divorce case, an Arizona court of appeals vacated a trial court’s ruling regarding the value of a 25% business interest owned by the wife. This article summarizes the case. A sidebar highlights another Arizona appellate court decision in which a calculation of value was accepted without a full opinion of value. In re Riddle, No. 1 CA-CV 21-0249 FC (Ariz. App. April 5, 2022). Mikalacki v. Rubezic, No. 1 CA-CV 21-0483 FC (Ariz. App. October 18, 2022).