Fair value litigation and more

The Delaware Chancery Court is considered one of the pre-eminent U.S. courts when it comes to business valuation and governance issues. This article reviews some recent court decisions pertinent to valuation practitioners and which will be discussed in more detail in NACVA’s Federal and State Case Law Update this fall.

Case-Law-UpdateSutherland v Sutherland, C.A. No. 2399-VCN (July 31, 2014)

From Laidler: “In other words, the Respondent argues that decile 10a is inappropriate because it includes companies with market capitalizations that are too high, while the Petitioner argues that decile 10b is inappropriate because it includes companies with too much debt. Because the parties’ respective experts provided credible testimony on both points, I find that the appropriate decile is….”

Ind. Elec. Workers Pension Trust Fund IBEW v. Wal-Mart Stores, No. 7779 (July 23, 2014)

Laidler v. Hesco Bastion Environmental, Inc., C.A. No. 7561-VCG (May 12, 2014)

Roberto Castro, Esq., MST, MBA, CVA, CMEA, CPVA, is a managing member of Central Washington Appraisal, Economic & Forensics, LLC, www.cwa-appraisal.com, a machinery and equipment, business valuation, litigation support services firm in Central Washington. In addition, he is a business broker with Murphy Business & Financial, LLC, serving Central Washington State, www.murphybusiness.com/centralwashington, and Managing Member of the Law Office of Roberto Castro, PLLC, www.rcastrolaw.com, which serves the Douglas, Chelan, Grant, Okanogan, Kittitas, and Yakima counties and is focused on succession and exit planning. All three entities were established in 2014 by Mr. Castro, who returned to Washington State. Previously, he worked and resided in Utah, where he managed Wasatch Business Valuation & Litigation Support Services, LLC, www.wasatchbusval.com. Mr. Castro can be reached at either RCastro@cwa-appraisal.com, R.Castro@murphybusiness.com or RobertoC1@NACVA.com.

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