Special Legal Report: Daubert Challenges Ten Years After Kumho Tire
By Sherrye Henry, Jr, Esq. BVWire Legal Editor It’s been ten years since the U.S. Supreme Court expanded its ruling in Daubert v. Merrell Dow Pharmaceuticals, Inc. to all types of technical expert testimony—including financial experts and business appraisers—in Kumho Tire v. Carmichael. PriceWaterhouseCoopers has just released its new Daubert Challenges to Financial Experts: A [...]
Industry experience carries the day in front of Tax Court
Contributed by Sherrye Henry, Jr., Esq. Legal Editor for Business Valuation Resources, LLC. Ringgold Telephone Co. v. Commissioner., T.C. Memo. 2010-103, 2010 WL 1850426 (U.S. Tax Ct.)(May 10, 2010) BVR customers should take note of a series of decisions in the last few months which show a trend for an expert’s industry experience to trump [...]
Agenda updated for BVR 3rd Annual Summit on Business Valuation in Divorce
The latest agenda is as follows–and you can register now here. Monday, September 13, 2010 8:00 a.m. – 8:30 a.m. Continental Breakfast 8:30 a.m. – 10:00 a.m. Divorce Testimony: Judges, Lawyers and Appraisers on the State of the Art Featuring: Jay Fishman (Financial Research Associates), William Morrison (Morrison & Company), Hon. Thomas Zampino (New Jersey [...]
Good advice for valuation clients from Gary Trugman
“I usually try to tell my clients that they don’t want some one wearing a black robe to make decisions about their financial future,” Gary Trugman told a full room in his session at NACVA on financial statement adjustments. “Many of those judges can’t balance their own checkbooks, so there’s always a lot of risk [...]
Court rejects use of historic three-year average under Daubert
Have you ever used a business’s three-year historical annual average to project sales and revenue growth, EBITDA or capital expenditures? Have you ever used the term “zone of insolvency” to describe a business on the brink of bankruptcy? Does your valuation report sometimes omit the precise formula used in your DCF? If you answered “yes” [...]
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