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…


Fall Newsletter 2017

Succession Planning Options for Family-Owned Businesses Many Small-Biz Owners Don’t Want to Retire Surprising Estimates of Private-Company Cost of Equity Proxy Gave ‘Fair’ Summary of Valuation Work, Chancery Says Tombstones What’s the Value of a Laugh? New Jersey Ruling Cements Use of DLOM to Sanction Oppressing Shareholder VMI Highlights Download the Fall Newsletter 2017


How Do You Tell Your Employees that You Are Selling the Business?

BATTER UP! Preparation is the key to making a successful announcement about selling your business. Like the leadoff hitter, who spends hours taking batting practice, studying the opposing pitcher, and perfecting his swing, the business owner must be well prepared when he steps up to the plate to deliver the news. A key component of…