EXP
Showing 33–48 of 145 results
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Smoked! Cigarette importer denied deduction
Summer 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 385
Abstract: The Internal Revenue Code contains complicated rules regarding the deductibility of settlement obligations. This article looks at one recent case in which the U.S. Tax Court found that an S corporation wasn’t entitled to a deduction for unpaid obligations owed to a qualified settlement fund because payment hadn’t actually been made. Suriel v. Commissioner (Tax Court 2013)
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How experts put a price on private equity investments
Summer 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: Private equity fund stakeholders are increasingly interested in the valuation of the funds’ portfolio investments — sometimes in the context of enforcement actions and litigation. But portfolio valuation can be difficult because market prices aren’t available for privately owned companies such as those often held by private equity funds. This article describes several methodologies that appraisal experts use.
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Snake in the grass – The sneaky danger of expense account fraud
Summer 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 701
Abstract: Compared with other occupational fraud schemes, expense account cheating may seem like small change. However, it’s possible to be nickel-and-dimed out of business by employees who lie about their businesses expenses. This article explains how damaging such fraud can be, particular types of schemes, and means of deterring them.
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Drilling for damages – Court finds a sweet spot with reasonable royalty rate
Summer 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 817
Abstract: Damages in trade secret cases can take a variety of forms, but in some cases experts find it necessary to adopt a damages concept common in patent law. This article discusses a trade secret misappropriation case in which the court upheld a plaintiff’s expert’s approach to valuing damages borrowed from patent infringement cases that suppose that a license was granted at the time of the misappropriation. However, as a sidebar explains, the court rejected disgorgement damages. Southwestern Energy Production Co. v. Berry-Helfand (Texas App. 2013)
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Case management – Benchbook advises judges on e-discovery issues
Spring 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 417
Abstract: The latest edition of the Federal Judicial Center’s Benchbook for U.S. District Court Judges includes a new section on civil pretrial case management addressing, among other things, e-discovery issues. Like the draft amendments to the Federal Rules of Civil Procedure, the section emphasizes the judge’s role as an active case manager and can help attorneys appearing in federal court. This article looks at some of the details.
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The trouble with assumptions – Why experts need to support their calculations
Spring 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 626
Abstract: A financial expert’s testimony usually is based on assumptions. But the trouble with assumptions is that they’re not always supported by facts. This article examines a breach of contract suit in which the plaintiff relied on an economist to provide his loss calculations. But the court determined that he wasn’t qualified to act as a business valuation expert and that his calculations were speculative and unreliable. Wallace v. Kalniz Choksey Dental—Ralston, C.A. No. WD-12-048, July 5, 2013 (Ohio Court of Appeals, 6th Dis.)
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Stop employees from committing expense report fraud
Spring 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: Although median losses associated with individual incidents of expense report cheating are low compared with those of many other types of fraud, falsified expense reports are dangerous. They are often a sign of larger cultural problems — such as lax enforcement or management overrides of internal controls. This article discusses several types of common schemes and how to prevent such fraud from occurring.
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Replacement cost: When is it appropriate?
Spring 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 818
Abstract: To estimate the fair market value of destroyed property, appraisers typically use the comparable sales approach. But this approach is inappropriate in some circumstances. That’s when replacement cost comes into play. This article looks at a case in which a defendant appealed the judgment awarded to an insurer — and shows why the insurer’s experts enabled it to prevail. A sidebar discusses why the appeals court decided that a multiplier used in determining the award was appropriate. Factory Mutual Insurance Co. v. Alon USA L.P., No. 11-11080, Jan. 23, 2013 (5th Cir.)
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The wide world of claims fraud (and how to come out on top)
Winter 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: These days a variety of businesses deal regularly with claims that present the opportunity for fraud, ranging from false health care and other benefits claims to dishonest rebate and warranty claims. But technological advances over the last decade or so have given rise to the emergence of data and predictive analytics — powerful tools for combating fraud when in the right hands. To make the most of such analytics, companies need to take a strategic and integrated approach. This article offers four steps in this process.
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Shine a light with a fairness opinion
Winter 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 620
Abstract: Everyone wants an equitable deal when undertaking a major business transaction. But, for better or worse, many transactions can become obscured by the nature and complexity of the data involved, as well as differing interpretations of that information. Although not legally required, a fairness opinion is often used to shine a light on the foggy details of such deals. This article looks at what a fairness opinion can offer, along with its parameters and limitations.
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Committing an expert faux pas – Internal reports too speculative in economic damages case
Winter 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 650
Abstract: A calculation of economic damages (or value, for that matter) is only as reliable as the expert’s underlying assumptions about income risk and return. This article looks at a recent case in which an appeals court agreed with the defendant’s assertion that the internal projections and investor summary schedules used to obtain financing and attract equity investors were speculative and, therefore, generated unreliable damages calculations. Citrin Holdings, LLC v. Minnis, No. 14-11-00644-CV, May 9, 2013 (Tex. App. Houston 14th Dist.)
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What would you pay to be in charge? The evolving state of control premiums
Winter 2014
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 861
Abstract: Investors theoretically pay a premium to control a business. “Control premiums” are intended to measure what control really is worth to investors. But quantifying these premiums can be problematic — in fact, the Appraisal Practices Board (APB) has identified control premiums among the top four areas in which it observes the “greatest diversity” in appraisal practice. It recently released a discussion draft that addresses the issue in the context of valuations prepared for financial reporting purposes. This article looks at its recommendations, while noting that traditional control premium studies still have their place. A sidebar discusses discounts for lack of control.
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Typosquatting: Fraud’s new frontier
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: While most people have probably heard of cybersquatting, “typosquatting” may be less familiar. But these schemes — which take advantage of users’ tendency to misspell a domain name — can make just about any organization, along with visitors to its website, the victims of fraud. This article shows how typosquatting is used for fraud and corporate espionage.
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Patent infringement damages rejected for lost foreign sales
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 633
Abstract: The appropriate measure of damages for patent infringement remains hotly debated. This article examines one recent decision in which an appeals court addressed the availability of “worldwide damages” for lost sales. While the court found that direct infringement had occurred, it was unpersuaded by the argument that lost sales in foreign markets should have played a role in the original award, and remanded for a new trial on the damages.
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The foundation of everything – Standards of value can make or break an appraisal
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 686
Abstract: Every appraisal begins with a need — and meeting this need begins with establishing a standard of value. This article notes the differences between fair value and fair market value. It also looks at such concepts as investment value and intrinsic value and explains how valuation experts decide which standard to apply when performing a business valuation.
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Will the real buy-sell please stand up? Divorce courts don’t always accept these agreements
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: Oversimplified or outdated buy-sell agreements sometimes come back to haunt divorcing shareholders. For divorce purposes, one cannot simply expect to value a private business interest using a valuation formula (or fixed price) set forth in the company’s buy-sell agreement. This article explains why it’s necessary to reconcile buyout formulas against values obtained using the cost, market and income approaches. A sidebar discusses factors that may influence whether a long-standing buy-sell agreement is still relevant.