Winter Newsletter 2019

The Secrets to Expert Testimony That Engage and Persuade a Court Survey Finds Market for Small Businesses May Have Peaked Delaware Chancery Relies on Deal Proposal Valuation in Adjudicating Buyout Dispute AICPA’s Final PE/VC Guide Issued Soon Court of Chancery Rules Unaffected Market Price is Best Evidence of Fair Value Tax Affecting of S Corporations…


Fall Newsletter 2019

Newest Survey on Private Rates of Return Acquisitions of Private Firms Up 12% in 2018 Senior Healthcare M&A Soars Private Equity Acquisitions in the Physician Practice Space Health Care M&A Court Chooses DCF to Determine Fair Value in“Straightforward” Appraisal Case Recent Daubert Rulings Show Courts’Different Takes on the Role of Gatekeeper It’s Not Just the…


Summer Newsletter 2019

M&A Basics: Buying A Business Firms Relying More on Third Party Valuers Drivers for a Hospital Deloitte Examines M&A Trends for 2019 Tombstone Experts Clash Over Definition of ‘Net Worth’ in New Jersey Buyout Dispute Verizon’s $4.6 Billion Impairment Expert’s Use of Wrong Damages Methodology Results in ‘Grossly Inflated’ Damages Appellate Court Upholds Use of…


Spring Newsletter 2019

In This Issue: M&A Summary: Deal Values Up, Multiples Down Slightly Five Key Considerations When Selling a Business Access to Capital Improves for Small Firms Working Capital Disputes in M&A Transactions Do Private Equity Firms Pay for Synergies? Can ESOP Appraisal Satisfy Charitable Contribution Reporting Requirement? Law Firm Valuation Impacted by Standard of Value Download…


Fall Newsletter 2018

In This Issue: Lady Liberty Stamp Costs USPS Millions in Copyright Infringement Avoid Leaving Money on the Table in an M&A Transaction New Jersey Adopts Key Daubert Factors for Expert Admissibility Determination M&A and Lending Markets Still Hot New Study Predicts Mass Conversion From PTE to C Corp Uniform Standards of Professional Appraisal Practice Cited…


Summer Newsletter 2018

In This Issue: Hidden Hazards of Selling a Business Sales of Small Businesses Are Expected to Increase The Value of Private Companies has Increased per Pepperdine Report Extra Cash Flow From Tax Reform to be Invested Delaware Court of Chancery Imposes Over $20 Million in Damages on Investment Fund and Its Manager Court Allows Tesla…


U.S. Department of Labor and First Bankers Trust Settle ESOP Lawsuits

THE BACKGROUND The U. S. Department of Labor (“DOL”) reached agreements to resolve four lawsuits with First Bankers Trust Services Inc. (“FBTS”).  The lawsuits alleged that FBTS violated the Employee Retirement Income Security Act (ERISA) when it approved stock purchases by the Employee Stock Ownership Plans (ESOPs).  As part of the agreements, FBTS paid approximately…


Spring Newsletter 2018

Middle-Market M&A Strengthens in 2018 Intangibles Make Up 75% of Purchase Price Allocations Telltale Signs of a Possible Ethics Scandal What’s the Value of Charles Manson’s Image Recap of Some of 2017’s Top Business Valuation Cases Where’s All That Tax Savings Going? Thoughts on Tax Reform’s Impact on Business Valuations Tombstones Download the Spring 2018…


ESOP Compliance: Coloring Inside the Lines

In the complex world of ESOP Regulation, it is crucial that the trustee follow all Department of Labor (“DOL”) guidelines. The DOL has become increasingly vigilant, and, as new process agreements have been issued, ESOP trustees must be ever more adherent to compliance protocols. This is not the place to push boundaries or express creativity….


Winter Newsletter 2018

The Stock Market and it’s Impact On The Value of Closely-Held Businesses SEC Settlement Over Fair Value Signals Shift of Focus Another Nonprofit Hospital Caught in Property Tax Crackdown Delaware No Longer Has Friendliest Lawsuit Climate Some Tell-Tale Signs That A Forecast is Unreliable The Effects of Corporate Scandal Handling the Causation Issue in Damage Cases…