VLB
Showing 17–32 of 385 results
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Proposed FRE amendments may affect your expert witnesses
March / April 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 407
Abstract: Proposed amendments to the Federal Rules of Evidence (FRE), expected to take effect in late 2023, may affect the admissibility of expert testimony. This article discusses the two key changes the amendments, if approved by the U.S. Supreme Court, would make and the impact they would have on the use of financial experts in federal cases.
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How to estimate lost profits for a start-up business
March / April 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 594
Abstract: The usual methods of calculating lost profits may fall short when a start-up is involved. This article explains alternative methods of assessing damages that experts use for companies without an established track record.
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Redleaf v. Commissioner – Cash payments are property settlement, not deductible alimony
March / April 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 613
Abstract: Pursuant to a marital termination agreement from 2008, the husband in Redleaf v. Commissioner deducted $51 million in deferred cash payments to his ex-wife. The U.S. Court of Appeals for the Eighth Circuit Court affirmed that the payments weren’t deductible as alimony under the tax law that was in effect at the time the agreement was executed. This article summarizes the case and highlights the importance of considering tax issues when executing a divorce or settlement agreement. Redleaf v. Commissioner, 43 F.4th 825 (8th Cir. 2022).
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DLOM dilemma – Defendants’ bad-faith behavior precluded marketability discount
March / April 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 898
Abstract: In Sipko v. Koger, Inc., the New Jersey Supreme Court found that a discount for lack of marketability (DLOM) was inappropriate, noting the “defendants’ bad-faith behavior throughout this 15-year litigation.” This article summarizes this family business drama. A sidebar discusses the issue of applying DLOMs to controlling interests in private businesses to reflect the time and effort needed to convert them to cash. Sipko v. Koger, Inc., 276 A.3d 160 (N.J. Sup. Ct. 2022).
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Opinion vs. legal conclusion: Has your expert crossed the line?
January / February 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 451
Abstract: The line between permissible expert opinion and impermissible legal or factual conclusions can sometimes be blurry under the Federal Rules of Evidence. It’s critical for lawyers and their expert witnesses to understand the distinction between an opinion that embraces an ultimate issue and one that offers a legal conclusion. This article provides examples that help clarify the rules. In re Columbia Pipeline Group, Inc. Merger Litigation, Cons. C.A. No. 2018-0484-JTL (Del. Ch. July 14, 2022).
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Financial experts play a key role in employment discrimination cases
January / February 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 588
Abstract: Employment discrimination claims based on race, sex, age, religion and other characteristics continue to be a major concern for employers. This article highlights how financial experts can help the parties calculate and evaluate damages, as well as analyze the situation to prove or disprove discrimination.
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Use a multifaceted approach to tackle postacquisition disputes
January / February 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: In M&A transactions, disputes sometimes arise over contractual purchase price adjustments, representations and warranties, earnout provisions, or alleged misrepresentations by the seller. This article explains how determining liability and calculating damages in these disputes involves a combination of business valuation, forensic accounting and economic analysis techniques.
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Vectura Ltd. v. GlaxoSmithKline LLC – Reasonable royalty damages reflect built-in apportionment
January / February 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 855
Abstract: Valuation experts commonly use the reasonable royalty method to measure damages in patent infringement cases. When a royalty base is the “entire market value,” an expert may apportion it among the product’s infringing and noninfringing components. But when reasonable royalty damages are based on a sufficiently comparable license, apportionment is often unnecessary. This article summarizes a recent Federal Circuit decision in which the court ruled that apportionment was already built into the expert’s model. A sidebar explains how the relief from royalty method works. Vectura Ltd. v. GlaxoSmithKline LLC, 981 F.3d 1030 (Fed. Cir. 2020).
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Sullivan v. Loden – Estate planning attorney sued for undervaluing family business
November / December 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 454
Abstract: A recent federal district court case illustrates what can happen when business valuations are prepared by attorneys rather than qualified valuation professionals. This article explains what happened when a disgruntled heir sued her deceased mother’s attorney for malpractice, alleging that previous gifts of stock had been undervalued. Sullivan v. Loden, No. 21-cv-123-DKW-RT, U.S. District Court, D. Hawaii, May 4, 2022.
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Focus on fraud in M&A transactions
November / December 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 555
Abstract: Due diligence is a critical part of the merger and acquisition process — and one key area of concern is fraud risk. Financial statement manipulation can sometimes make the target appear more valuable than it really is. Likewise, weak fraud policies, internal controls and cybersecurity practices can be ticking time bombs for an unwary buyer. This article explains how a forensic accountant can help evaluate a target’s fraud risk and look for signs of earnings manipulation and other accounting irregularities.
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Human capital: What’s it worth?
November / December 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 652
Abstract: In today’s tight labor market, human capital is critical to the success of a business. Although it’s not usually reported on the balance sheet, human capital can be a valuable asset. This article describes when human capital might need to be valued, different types of human-capital-related assets, and how these assets are valued based on reproduction and replacement costs.
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Why policy language is critical in business interruption claims
November / December 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 817
Abstract: When a business seeks to recover damages under a business interruption policy, the language of the policy is critical. This article summarizes a case where the policyholder’s failure to understand key terms caused the court to side with the insurance company. A sidebar highlights ways that financial experts can help businesses file business interruption claims. TransWorld Food Service, LLC v. Nationwide Mutual Insurance Company, No. 1:19-cv-03772-SDG, U.S. District Court, N.D. Ga., March 28, 2022.
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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).