Valuation & Litigation Briefing / Litigation & Valuation Report
Showing 193–208 of 385 results
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Investigative due diligence: Have you vetted your opponent’s experts?
November / December 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 420
Abstract: In litigation, the outcome sometimes comes down to the quality of expert witness testimony. That’s why it’s important to vet opposing experts for weaknesses. This brief article notes a few areas to examine, including experts’ credentials, whether their testimony and written reports comply with applicable standards, previous opinions that contradict their opinion in the current case and any conflicts of interest.
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Evaluating the deal – A fairness opinion can provide needed objectivity
November / December 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 658
Abstract: Shareholders may challenge deals that seem to benefit “insiders” at their expense — especially if the deal’s projected results fall short, acquisition synergies fail to materialize or insolvency becomes likely — under the assumption that decision makers aren’t acting in the best interests of the company and its shareholders. This article explains that a fairness opinion from an experienced, independent valuation advisor can help avoid this situation.
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How to measure goodwill impairment
November / December 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 829
Abstract: Under U.S. Generally Accepted Accounting Principles (GAAP), public companies that report goodwill on their financial statements must test it at least annually for impairment. This article suggests that even companies opting to avoid quantitative testing by conducting “qualitative” impairment assessments hire a professional valuator. A sidebar notes that, while private companies can now elect to amortize goodwill and certain intangible assets acquired in business combinations, some larger private companies may continue to test for impairment.
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Calculating damages in postacquisition disputes
November / December 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 568
Abstract: In a merger and acquisition transaction, disputes sometimes arise over contractual purchase price adjustments, representations and warranties, earnout provisions or alleged misrepresentations. As this article explains, determining liability and computing damages in these disputes involves a combination of business valuation, forensic accounting and economic analysis techniques.
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Discovery and mobile devices: Have a plan
September / October 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: Electronically stored information (ESI) discovery is complex, and mobile devices present unique challenges. In particular, bring-your-own-device policies, which allow employees to use their personal devices for work, raise issues of privacy and control. This brief article points out several helpful steps for addressing mobile device ESI early in the litigation process.
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Share information and resources with a joint appraisal
September / October 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 575
Abstract: A joint appraisal occurs when the parties involved in a lawsuit or a business transaction come together and agree to hire a single expert. Facilitating information sharing can be useful in some situations, including divorces and shareholder disputes. This article explains some of the benefits — as well as potential pitfalls — of using a joint appraiser.
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Hugh v. Hugh – Determining value in marital dissolution cases
September / October 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 634
Abstract: What type or quantity of evidence is needed to establish the value of a business for marital dissolution purposes? This was one of the key issues in a recent case, Hugh v. Hugh, and this article looks at the details of the case as well as the pertinent court decisions. The article notes that, when financial information isn’t available in divorce cases, an experienced and well-qualified appraiser can extract the necessary information to arrive at a value for equitable distribution purposes. Hugh v. Hugh, Nos. 1417-13-4, 1438-13-4 (Va. Ct. App. 6/3/14)
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Impact of growth rate on lost profits
September / October 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 834
Abstract: When calculating lost profits, damages experts need to determine the growth rate carefully. Failure to properly analyze the factors that drive a company’s expected revenue growth may jeopardize the admissibility of an expert’s testimony in a Daubert challenge. This article uses several recent court cases to illustrate the importance of supporting the growth rate with reasonable assumptions and detailed analysis based on objective market evidence. Celebrity Cruises Inc. v. Essef Corp., 434 F. Supp.2d 169 (S.D.N.Y. 2006) Chemipal Ltd. v. Slim-Fast Nutritional Foods Int’l Inc., 350 F. Supp. 2d 582 (D. Del. 2004) Manpower Inc. v. Insurance Company of the State of Pennsylvania, 732 F.3d 796, 799 (7th Cir., 2013)
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Is it time to pull the plug on deepening insolvency?
July / August 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: Deepening insolvency refers to the wrongful prolongation of a company’s life, increasing its insolvency and reducing the potential recovery of its creditors and shareholders. Deepening insolvency gained recognition in some courts as an independent cause of action, but several courts have repudiated the doctrine recently. This brief article notes several cases that show that deepening insolvency appears to be on its last legs. Trenwick America Litigation Trust v. Ernst &Young, 906 A.2d 168 (Del. Ch. 2006). Feribach v. Ernst & Young, 493 F.3d 905 (7th Cir. 2007). In re Lemington Home for the Aged, No. 13-2707 (3d Cir. 2/23/15).
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The importance of site visits in business valuation
July / August 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 571
Abstract: A site visit is a key weapon in a valuator’s arsenal and can help provide a clear picture of a company’s business operations. This article lists some of the risk factors a valuator might watch for, including fixed asset condition, physical controls, staff morale and skill level, and hidden liabilities. Using interviews to discuss concerns and clarify gray areas, valuators can gain a broader perspective of a company’s strengths, weaknesses, opportunities and threats.
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Connecting the dots – Data breach and plaintiff injuries
July / August 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 821
Abstract: Data breach litigation can be extremely complex, and the law in this area is continuing to evolve. But it’s clear that forensic and other financial experts can help establish injury and causation by sifting through data to identify trends and patterns. This article discusses the difficulty of establishing injury and cites a 2013 Supreme Court decision that set out some requirements for proving an “injury in fact” sufficient to establish standing. A sidebar lists especially large breaches that occurred in 2014. Clapper v. Amnesty International, USA, 133 S. Ct. 1138 (2013).
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Tax-affecting S corp earnings – Courts’ varied approaches create confusion
July / August 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 655
Abstract: Whether a valuator should reduce earnings by an assumed corporate tax rate — even though S corporations don’t pay tax at the corporate level — has created confusion for years. This article describes a recent bankruptcy case that reveals that the confusion still hasn’t been resolved. The article provides a rationale for tax-affecting and explains that courts have taken a variety of approaches to the issue. Bank of America, N.A. v. Veluchamy (In re Veluchamy), 2014 Bankr. LEXIS 5106 (Dec. 18, 2014). Delaware Open MRI Radiology Associates v. Kessler, 898 A.2d 290 (Del. Ct. Ch., 2006).
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Important reminder: HIPAA extends to expert witnesses
May / June 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 398
Abstract: Health issues arise in a variety of litigation contexts, including personal injury, medical malpractice, divorce and insurance claims. In these cases, attorneys must ensure that they — and their expert witnesses and consultants — comply with the Health Insurance Portability and Accountability Act of 1996 (HIPAA). This brief article points out what HIPAA was designed to do and notes several 2009 HIPAA revisions.
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What’s normal? The ins and outs of valuation adjustments
May / June 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 652
Abstract: To create an accurate picture of a company’s finances, a valuator likely will need to make various adjustments to “normalize” earnings. But determining what’s normal involves detailed analysis, as well as an understanding of the company’s current and future operations. This article talks about how appraisers determine whether to make discretionary, discount-related, or other adjustments to better reflect the future cash flow a prospective buyer could generate from a company’s operations.
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Bross Trucking Inc. v. Commissioner – Determining the value of personal goodwill
May / June 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: Personal goodwill in business valuation is alive and well, as a 2014 U.S. Tax Court case demonstrates. The court concluded that virtually all goodwill associated with a trucking company belonged to its owner. As a result, he didn’t receive goodwill from the corporation or make a gift of those assets to his three sons, who formed a new company. This article discusses the differences between business and personal goodwill. Bross Trucking Inc. v. Commissioner, T.C. Memo 2014-107 (6/5/14)
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In litigation, a little tax planning pays off
May / June 2015
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: The economic impact of a settlement or damages award depends on whether it’s taxable to the plaintiff and deductible by the defendant. By incorporating tax strategies into the litigation planning process, attorneys can help their clients improve their chances of a tax-beneficial outcome. This article explains how damages are taxed, when they’re deductible, and how tax planning can improve a client’s economic outcome. Fresenius Medical Care Holdings Inc. v. U.S., No. 13-2144 (1st Cir. 8/13/14)