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Our Senior Managing Directors have rendered hundreds of fairness opinions and are nationally recognized published experts in valuations. Sutter's principals have testified as expert witnesses with respect to fairness, valuation, investment banking practice, complex brokerage, and other issues in United States District, Bankruptcy, and Tax Courts, as well as in the Delaware Court of Chancery, numerous other state courts, and arbitrations. Gil Matthews or Bob Muh personally handle each assignment. Each of the professionals has over 35 years experience.

Our extensive transactional experience enables us to provide advice and assistance to corporate directors in carrying out their duties to shareholders. Our familiarity with corporate finance and financial markets enables us to value companies and securities and to defend our valuations in litigation.


Valuations

Owners of public and private companies often require valuations. Valuations are necessary for:

  • Business decisions, such as buying or selling companies, selling or repurchasing stock or debt, recapitalizations, and employee stock plans;
  • Family and tax decisions relating to estates, gifts, financial planning and marital dissolutions;
  • Litigation with respect to such issues as valuation and taxation.

Sutter's investment bankers, with their knowledge of corporate finance, financial markets, and "real world" transactions, are particularly well suited to estimate the value of companies and securities in a variety of contexts. Our professional staff performs valuations for many business, tax and accounting purposes:

  • Buying or selling business
  • Private placements of debt and equity
  • Recapitalizations and reorganizations
  • Estate and gift taxes
  • Poison pills

Sutter's investment bankers have had considerable experience with the special requirements of fair value and fair market value litigation. Our principals are widely respected in the valuation community. We have contributed to leading valuation books and periodicals, and spoken on valuation in tax seminars, valuation forums.

(Use the Scrollbar in the table below to review our historical Valuations.)

Selected Valuations By Sutter Securities
YEARINDUSTRYCOMPANY TRANSACTION
2011ElectricalLeviton Manufacturing of Canada, Ltd.Valuation of minority interest in the company.
2010AutomotiveFord Motor CompanyValuation of warrants and zero-coupon notes for fiduciary of employee benefit plan.
2010ElectricalLeviton Manufacturing Co., Inc. Valuation of company and of voting and non-voting shares.
2009ApparelEstateValuation of apparel manufacturer.
2009FinanceNational Holdings CorporationValuation of convertible preferred stock for shareholder.
2008ElectricalEstate Valuation of voting and non-voting shares.
2008PharmaceuticalsPublic companyValuations of auction rate notes for financial reporting.
2006HealthcarePrivate medical staffing companyValuation of shares to be issued upon exercise of warrants.
2006InsurancePrivate workers' compensation company Valuation for split of business between two 50% shareholders.
2006Outsourcing ServicesWest Corporation Valuation of company for re appraisal claim.
2005InternetAG Edwards & Sons, Inc. Valuation of warrants of 8x8, Inc.
2004AgribusinessJJJ Corp.-ORO RanchValuation of minority interest in working ranch for gift tax.
2004AgribusinessLas Aguilas Corporation Valuation of minority interest in working ranch for gift tax.
2004AgribusinessPrivate company Valuation of minority interests in winery and plant nurseries for estate tax.
2004ConglomerateEstateValuation of high vote shares relative to low-vote shares.
2004ElectricalLeviton Manufacturing Co., Inc. Valuation of company and of voting and non-voting shares.
2004ElectricalPrivate companyValuation of interest in manufacturer for repurchase by parent company.
2004EntertainmentAcclaim Entertainment, Inc. Valuation of embedded options in convertible debt and warrant financings.
2004FinanceN.Y. Community Bancorp Valuation of non-compete and non-solicitation agreements.
2004MediaEstateValuation of restricted shares in media company for estate tax.
2004Real EstatePrivate partnershipsDetermination of minority and lack of marketability discounts for estate tax.
2004ShippingSEACOR Marine Inc.Valuation for FAS 142.
2003AutomotiveKaneka America Corporation Valuation of automobile parts distributor.
2003CableEstateValuation of restricted control shares in cable company for estate tax.
2003Data ProcessingBrocade Communications, Inc.Valuation of intangible assets for GAAP accounting.
2003ElectricalPrivate companyValuation of minority interest in real estate for gift tax.
2003ElectronicsElpida Memory (USA) Inc.Valuation of minority interest in for repurchase by parent.
2003InvestmentPrivate LBO Fund Negotiation with IRS on valuation of carried interests for gift tax.
2003PharmaceuticalsOSI Pharmaceuticals Inc.Valuation of covenants not to compete and not to solicit employees.
2003Real EstatePrivate entityValuation of private real estate company and family trust.
2003ShippingSeacor Smit Inc.Determination of fair market value of Mississippi river barge business.
2003ShippingNissho Iwai American CorporationValuation of ship loans for income tax reporting.
2003Software Law firmValuation of shares of listed software company received as consideration.
2002ApparelA.R. KnitwearValuation of minority interest
2002EntertainmentWindswept Holdings LLCValuation of music publishing company.
2002GamingPrivate company shareholdersValuation of casinos for gift tax.
2002Oil & GasEstateValuation of oil & gas business for estate tax.
2002Retail (Non-Food)Private company Valuation of electronics retailer for estate tax.
2002UtilitiesCovanta Energy Corporation Valuation of independent power producer.
2001ApparelFortune Fashions, Inc.Determination of fair market value of the company.
2001Data ProcessingFujitsu Network Communications, Inc. Valuation of shares of company.
2001InternetItochu Technology, Inc. Valuation of start-up company.
2001Oil & GasMajor private company Valuation of company and of non-voting shares.
2001PharmaceuticalsMedPointe, Inc. Valuation of non-compete agreement.
2001RecreationOMC Corporation Valuation of boat and marine engine company.
2000ConglomerateCarlson Holdings, Inc. Valuation of voting shares.
2000DefenseSpectrum Astro, Inc.Valuation of shares owned by control group.
2000ElectricalLeviton Manufacturing Co., Inc. Valuation of company and of non-voting shares.
2000InternetGeneral Atomics Technologies Corp.Valuation of option to buy minority interest in affiliated company.
2000InvestmentGoldman Sachs 1999 Exchange Place Fund L.P. Opinion re value of Units issued in exchange for publicly traded shares.
1999Food & BeverageMajor private company Valuation of block of shares to be transferred
1999InternetGeneral Atomics Technologies Corp.Valuation of internet service provider.
1999InvestmentGreene St. 1998 Exchange Fund, L.P.Opinion re value of Units issued in exchange for publicly traded shares.
1998InvestmentHarvard Holdings, Inc.Opinion re value of non-cumulative preferred stock.
1998InvestmentGreene St. Exchange Fund, L.P.Opinion re value of Units issued in exchange for publicly traded shares.
1998SemiconductorsMicroModule Systems, Inc.Opinion re value of common stock for granting stock options.
1997Data ProcessingGeneral Atomics Technologies Corp.Valuation of restricted stock of Teleport Communications Group.
1997FinanceOlympic Cascade Financial Corporation Opinion re value of restricted stock issued in acquisition.
1997FinanceBear, Stearns & Co. Inc. Opinion to both parties re value of brokerage firm in connection with sale of minority interest back to issuer.
1997PharmaceuticalsBionutrics, Inc.Opinion re value of restricted stock issued in merger.
1996FinanceParrish Leasing Corp.Valuation of affiliated company engaged in lease and loan servicing.
1996GamingJackpot Enterprises, Inc.Opinion re whether to extend warrants.
1996Oil & GasSeven Seas Petroleum Inc.Valuation of restricted stock issued in exchange for Colombian properties.


Fairness Opinions

Fairness opinions have two purposes. The first is to provide Directors with information to assist them in making financial decisions. In addition, fairness opinions serve as factual evidence in litigation in order to demonstrate that Directors used reasonable business judgment in making a decision on behalf of shareholders.


Importance Of Fairness Opinions In Litigation

A central issue in litigation against Boards of Directors is whether informed business judgment was used when considering a proposed transaction. Directors who had relied primarily on information provided by officers of the company and had received no advice from independent advisors were held liable by the Delaware Supreme Court for approving a merger cashing out minority stockholders. The merger price was at a substantial premium over market, and the experienced and reputable Directors were not charged with malice. Nevertheless, they were held liable for damages to the minority shareholders. Smith v. Van Gorkom, 488 A.2d 858 (Del. 1985). Investment bankers' fairness opinions provide evidence of Directors' compliance with their fiduciary obligations. Numerous subsequent decisions in Delaware and elsewhere have confirmed that obtaining an independent fairness opinion can help to demonstrate that Directors have used reasonable business judgment.


Sutter's Expertise In Fairness Opinions

Our principals have extensive experience in rendering fairness opinions to Boards of Directors (and Special Committees) in going-private transactions, as well as in other merger and acquisition transactions and restructurings. Sutter's principals have been responsible for fairness opinions more than a thousand transactions over a period of more than 30 years. All of these transactions that have been challenged in litigation have been successfully defended. Our experience in expert testimony is an important adjunct to our opinion services. We have been involved in numerous cases either in defending or in challenging fairness opinions issued by others. This experience in litigation support enables us to review and to critique the methodologies employed, and to understand the strengths and flaws of various approaches.


Our Approach To Fairness Opinions: What Sets Sutter Apart

Sutter holds itself to high standards in rendering fairness opinions.

  • We opine as to the fairness, from a financial point of view, of the entire transaction, rather than limiting our opinion solely to the fairness of the consideration.
  • We update our opinion letters prior to the mailing of proxy statements.
  • We take into account the price which, in our judgment, would be awarded in an appraisal action under the relevant state law.

A fairness opinion should take into account the entire context of the transaction and weigh all relevant factors. Structural fairness should be considered, particularly the relative consideration received by the various parties. Our policy is to opine as to the fairness of the transaction as a whole to the shareholders for whom the opinion was requested. The importance of examining the entire context of the transaction was illustrated in a Delaware Supreme Court decision. A transaction was deemed unfair even though the majority shareholder and the minority public shareholders received identical cash consideration per share; the Directors had failed to determine the value of the company as a going concern, and the majority shareholder had restricted bidders by limiting them to an all-cash deal. McMullin v. Beran, 765 A.2d 910 (Del. 2000).

In addition to protecting Directors, a fairness opinion should also provide timely guidance to shareholders. An updated opinion enables shareholders to base their decisions on current information. An updated opinion is also helpful to Directors. In a case where the Directors did not obtain an updated fairness opinion in a transaction that closed several months after a shareholder vote, the Delaware Supreme Court held that the burden of proof as to fairness had shifted to the Directors. Emerald Partners v. Berlin, 787 A.2d 85 (Del. 2001).

Financial fairness in a proposed transaction depends on the amount that dissenting shareholders would likely receive in a statutory appraisal. The applicability of certain discounts in a statutory appraisal varies from state to state. The Delaware Supreme Court has held that neither minority discounts nor discounts for lack of marketability are relevant in appraisal actions. Cavalier Oil Corp. v. Harnett, 564 A.2d 1137 (Del. 1989). The Delaware Court of Chancery has ruled that Directors have a fiduciary duty to pay shareholders who are cashed out the fair value of their stock as that term is defined in appraisal cases. Metropolitan Life Insurance Co. v. Aramark Corp., Del. Ch. C.A. 16142 (Del. Ch. 1998). Based on this standard, Sutter takes into account the price which, in our judgment, would be awarded in an appraisal under relevant state law, whether or not the structure of the transaction permits shareholders to avail themselves of the appraisal remedy.

(Use the Scrollbar in the table below to review our historical Fairness Opinions.)

Fairness Opinions Issued By Sutter Securities Incorporated In Arm's Length Transactions
YearIndustryCompanyTransaction
2011Real EstateIMH Financial CorporationFairness opinion re sale of convertible debt.
2009ChemicalsDow Chemical Company Opinion for ESOP fiduciary re viability of the company.
2008SemiconductorsESS Technology, Inc.Fairness opinion re acquisition of the company.
2006BiotechnologySIGA Technologies, Inc. Fairness opinion re proposed merger with PharmAthene, Inc.
2005HealthcareCalifornia Department of Managed Health CareFairness opinion re sale by Sharp Health Plan of its Medi-Cal business, Healthy Families Program, and AIM Program to Molina Healthcare of California.
2001Internetinsci-statements.com corp. Fairness opinion re sale of convertible debt.
2001MarineR. Holdings, Inc. Fairness opinion re sale of $78 million of convertible notes.
2001SecurityThe Kroll O'Gara Company Fairness opinion re sale of armored car business.
2000EducationCalifornia Culinary Academy, Inc.Fairness opinion re cash merger with Career Education Corporation.
2000Oil & GasUnion Pacific Resources Group Inc. Opinion to fiduciary re merger with Anadarko Petroleum Corporation.
2000SemiconductorsGalvantech, Inc.Fairness opinion re merger with Cypress Semiconductor, Inc.
2000Trade ShowsHW Exhibits Inc.Fairness opinion re merger with Creative Management Services, Inc.
1999Food & BeverageVacu-dry CompanyFairness opinion re sale of principal business.
1999ServicesDeloitte & Touche LLPFairness opinion re sale of systems integration consulting group.
1998Food & BeveragePepsi-Cola Puerto Rico Bottling CompanyFairness opinion re sale of voting control to Pohlad Companies.
1998ManufacturingHome Security International, Inc.Fairness opinion re acquisition of Ness Security Products Pty. Ltd.
1998SemiconductorsCatalyst Semiconductors, Inc. Fairness opinion re issuance of shares to outside investor.
1997FinanceBear, Stearns & Co. Inc. Opinion to both parties re value of brokerage firm in connection with sale of minority interest back to issuer.
1996Data ProcessingDigital Video Systems, Inc.Fairness opinion re change in terms of warrants.
Fairness Opinions Issued By Sutter Securities Incorporated In Related Party Transactions
YearIndustryCompanyTransaction
2010AutomotiveFord Motor CompanyFairness opinion to fiduciary of employee benefit plan re $3 billion sale of Ford zero-coupon debt to Ford.
2010PharmaceuticalsSenetek plcFairness opinion re sale of division to former CEO.
2010Real EstateIMH Secured Loan Fund, LLCFairness opinion re acquisition of management company.
2009Food & BeverageVita Food Products, Inc. Fairness opinion re going-private transaction.
2007Food & BeverageVita Food Products, Inc. Fairness opinion re sale of stock and warrants to a director.
2006Food & BeverageVita Food Products, Inc. Fairness opinion re private placement of stock and warrants
2006SemiconductorsCatalyst Semiconductors, Inc. Fairness opinion re poison pill.
2005Real EstateBF Enterprises, Inc. Fairness opinion re reverse stock split.
2003BiotechnologySIGA Technologies, Inc. Fairness opinion re private sale of stock and warrants to investor.
2003ElectronicsTeleVideo, Inc.Fairness opinion re proposed going-private transaction.
2003InternetINSCI Corp.Fairness opinion re recapitalization of company.
2003ManufacturingWilshire Technologies, Inc. Fairness opinion re going-private transaction.
2003REITsBerkshire Income Realty, Inc. Fairness opinion re exchange offer of preferred stock for units in mortgage trusts.
2002REITsAnworth Mortgage Asset Corporation Fairness opinion re acquisition of management company.
2001InvestmentClarion Commercial Holdings, Inc. Fairness opinion re transaction with manager.
2000FinanceHome Security International, Inc.Fairness opinion re sale of 50% of consumer finance company.
2000InternetCarsDirect.com, Inc.Fairness opinion re issuance of high-vote shares.
2000ShippingSeacor Smit Inc.Fairness opinion re purchase of barge assets from affiliate.
1999InternetDigital Link CorporationFairness opinion to purchaser re going-private transaction.
1997FinanceHome Security International, Inc.Fairness opinion re acquisition of 50% of consumer finance co. from affiliate.
1997HealthcareCalifornia Department of CorporationsOpinion re conversion of Vista Behavioral Health Plans and its sale to Green Spring Health Services, Inc.
1996Data ProcessingDigital Video Systems, Inc.Fairness opinion re acquisition of ViComp Technology, Inc.
1996FinanceAutoLend Group, Inc.Fairness opinion re sale of subsidiary to officers in settlement of litigation.


Expert Testimony And Litigation Support Experience

Our Senior Managing Directors, Gil Matthews and Bob Muh have been retained by numerous defendants' and plaintiffs' counsel, and have testified in Federal District, Tax, and Bankruptcy Courts, in Delaware Court of Chancery, in other state courts, in arbitrations, before regulatory agencies, and before a committee of the U.S. Senate. We have testified in more than 20 states.

In addition to testifying with respect to fairness opinions and valuations, we have testified with respect to statutory appraisal, damages, appropriate fees, conduct of investment bankers, investment banking practices, the effects of contract provisions, ESOPs, estate freezes, and other issues.

Sutter's Approach To Litigation Support

Our practice is to work closely with counsel: reviewing work of other experts in a case, attending depositions, providing rebuttal testimony, and assisting counsel as requested. In providing litigation support, our objective is to play a proactive role as part of a team, in order to provide optimum assistance to counsel and to counsel's client.

At Sutter, the Senior Managing Director responsible for a case is personally involved in all phases of the assignment. We recognize that expert testimony is provided by an individual rather than by a firm. The responsible Senior Managing Director, however, has available to him the strength and experience of Sutter's other Senior Managing Directors in preparing reports and in exchanging ideas.

No assignment will be accepted unless we anticipate having sufficient time to provide the quality of service consistent with our professional responsibilities. We undertake litigation support on either a time or fixed fee basis, at the client's choice.


Expert Testimony By Our Principals

(Click on the panels below to expand and view our historical testimonies.)

Testimony In Court
YearClientDetails
2008 U.S. Bank National Association & The Bank of New York Trust Company, as Trustees Expert testimony for plaintiffs re subordination of post-petition interest (In re Bank of New England Corporation, U.S. Bankruptcy Court, MA, Judge Hillman). Counsel: Covington & Burling LLP; Dorsey & Whitney, LLP.
2007 Santa Fe Pacific Gold Company Expert testimony for petitioner re termination fee (Santa Fe Pacific Gold Company v. Commissioner, U.S. Tax Court, GA, Judge Goeke). Counsel: Chamberlain, Hrdlicka, White, Williams & Martin.
2006 Fresh Del Monte Produce, Inc. Expert testimony for defendant in jury trial re fairness of consideration paid in acquisition (Demerutis Chaul v. Abu-Ghazaleh, Circuit Court, Miami-Dade County, FL, Judge Zabel.) Counsel: Cleary Gottlieb Steen & Hamilton LLP; Kirkpatrick & Lockhart Nicholson Graham LLP.
2005 First Medical Group, Inc. Expert testimony for defendants re valuation of a company operating medical clinics (Fine v. Sokol, Court of Chancery, DE, Vice Chancellor Strine). Counsel: Morris, Nichols, Arsht & Tunnell.
2005 Wechsler & Co., Inc. Expert testimony for petitioner re reasonableness of compensation (Wechsler & Co. v. Commissioner, U.S. Tax Court, NY, Judge Halpern). Counsel: Blank Rome LLP.
2004 Anthony & Sylvan Pools Corporation Expert testimony for plaintiff re fairness of going-private transaction (Newby v. Anthony & Sylvan Pools, Court of Common Pleas, Franklin County, OH, Judge Pfeiffer). Counsel: Schottenstein Zox & Dunn; Wolf Popper LLP.
2004 Norman J. Wechsler Expert testimony for defendant re valuation of Wechsler & Co., Inc. (Wechsler v. Wechsler, Supreme Court, N.Y. County, NY, Judge Gische). Counsel: Blank Rome LLP.
2003 Gambro AB Expert testimony for defendant in jury trial re disclosure requirements and value of acquired company (Ginsburg v. Gambro AB, Circuit Court, Broward County FL, Judge Moe). Counsel: Paul, Weiss, Rifkind, Wharton & Garrison; Gillespie, Goldman, Kronengold & Farmer, P.A.
2003 Regulus Group LLC Expert testimony for plaintiff in jury trial re value of billing and remittance business (Still v. Regulus Group, U.S. District Court, Eastern Dist. PA, Judge Kelly). Counsel: Saul Ewing LLP.
2002 Occupational Safety Association of Alabama Workmen's Compensation Fund Expert testimony for defendant re fairness opinion, value of associated sales company, and professional conduct of Counsel: (Occupational Safety Association v. Norman, Circuit Court, Montgomery County, AL, Judge Reese). Counsel: Haskell, Slaughter, Young & Rediker L.L.C.; Maynard Cooper & Gale P.C.
2002 Positron Corporation Expert testimony for defendant re value of consideration paid for newly issued shares (ProFutures Bridge Capital Fund v. Positron Corp., District Court, County of Denver, CO, Judge McMullen. Counsel: Rothgerber Johnson & Lyons LLP.
2001 Broadview International, LLC Expert testimony for defendant re value of minority interest in investment banking firm (CF Consulting v. Broadview Associates, Chancery Div., Superior Court, Bergen County, NJ, Judge Escala). Counsel: Rosenman & Colin.
2001 Emerging Communications, Inc. Expert testimony for company re value of shares in connection with shareholders' demand for appraisal (In re Emerging Communications, Inc. Shareholders Litigation, Court of Chancery, DE, Vice Chancellor Jacobs). Counsel: Richards, Layton & Finger.
2000 Anheuser-Busch, Inc. Expert testimony for defendant in jury trial re effect of contract provision prohibiting public ownership of its distributors (Maris Distributing v. Anheuser-Busch, U.S. District Court, Middle Dist., FL, Judge Hodges). Counsel: Howrey, Simon, Arnold & White.
1999 Dairy Mart Convenience Stores, Inc. Expert testimony for defendant re fairness of acquisition of shares from a major shareholder (Dairy Mart Convenience Stores, Inc. Derivative Litigation, Court of Chancery, DE, Chancellor Chandler). Counsel: Cadwalader Wickersham & Taft.
1999 Delchamps, Inc. Expert testimony for defendant re value of shares in connection with shareholders' demand for appraisal (Delchamps, Inc. v. Kuykendall, Circuit Court, Mobile County, AL, Judge Kendall). Counsel: Gardner, Middlebrooks, Fleming, Gibbons & Kittrell, P.C.; Stone, Pigman, Walther, Wittmann & Hutchinson, P.C.
1999 First Aviation Services, Inc. Expert testimony for defendants in jury trial re claim by plaintiff for equity in the company (Risko v. Hollander, Superior Court, County of Alameda, CA, Judge Hodge). Counsel: Weil Gotshal & Manges.
1999 Unocal Exploration Corporation Expert testimony for plaintiffs re fairness of squeeze-out merger and adequacy of disclosure (Glassman v. Unocal Exploration, Court of Chancery, DE, Vice Chancellor Lamb). Counsel: Chimicles & Tikellis; Taylor & McNew.
1998 Connector Service Corporation Expert testimony for defendant/counter-plaintiff re value of company under Delaware law (Connector Service v. Briggs, U.S. District Court, Northern Dist. IL, Eastern Div., Judge Leinenweber). Counsel: Morris, Nichols, Arsht & Tunnell; Ryndak & Lyerla.
1998 Internal Revenue Service Expert testimony for respondent re relative value of voting and non-voting shares and value of minority block of voting shares (Estate of Simplot v. Commissioner of Internal Revenue, U.S. Tax Court, CO, Judge Jacobs). Counsel: District Counsel:, Internal Revenue Service, Rocky Mountain District.
1998 Mentor Graphics Corporation Expert testimony for plaintiff re inadequacy opinion relied on by defendant, and rebuttal of defendant's expert (Mentor Graphics v. Quickturn Design Systems, Court of Chancery, DE, Vice Chancellor Jacobs). Counsel: Richards, Layton & Finger; Latham & Watkins.
1998 Pacific Architects and Engineers Incorporated Expert testimony for defendant re salability of 38% minority interest (Howard v. Shay, U.S. District Court, Central Dist. CA, Judge Tevrizian). Counsel: Fogel, Feldman, Ostrov, Ringler & Klevens.
1997 CenFed Financial Corp. Expert testimony for defendant in jury trial re finder's fee (Duncan Williams v. CenFed Financial, Superior Court, County of Los Angeles, CA, Judge Soven). Counsel: Mayer, Brown & Platt.
1996 Computervision Corporation Expert testimony for defendant re value of shares and PIK debentures in class action and value of shares in appraisal (Dieter v. Prime Computer, Court of Chancery, DE, Vice Chancellor Steele). Counsel: Weil, Gotshal & Manges; Richards, Layton & Finger.
1996 Pabst Brewing Company Expert testimony for petitioner re fair market value of assets transferred to G. Heileman Brewing Company (Pabst Brewing v. Commissioner of Internal Revenue, U.S. Tax Court, CA, Judge Laro). Counsel: Hill, Farrer & Burrill.
1996 U.S. West, Inc. Expert testimony for plaintiffs re value of benefits received in settlement (Rosenbaum v. MacAllister, U.S. District Court, CO, Magistrate Judge Pringle). Counsel: Bader & Villanueva; Abbey & Ellis.
Testimony In Arbitration
YearClientDetails
2010 E*Trade Securities LLC Expert testimony for respondent clearing broker re absence of clearing firm liability (Redondo v. E*Trade Securities LLC, FINRA Arbitration, Orlando, FL). Counsel: Fowler White Burnett P.A.
2008 Empire Financial Holding Company Expert testimony for respondent re damages to petitioner resulting from alleged poaching of brokers (EKN Financial Services v. Empire Financial Holding Co., FINRA Arbitration, New York, NY). Counsel: Corporate counsel.
2008 Quantum Loyalty Systems, Inc. Expert testimony for petitioner re value of minority interest in company (Quantum Loyalty Systems v. Drees, American Arbitration Association, Las Vegas, NV, Arbitrator Naylor). Counsel: Satterlee Stephens Burke & Burke LLP.
2008 Wexford Securities Expert testimony for respondent re suitability (Forbes v. Wexford Securities, FINRA Arbitration, New York, NY). Counsel: Proskauer Rose LLP.
2007 Bear Stearns Securities Corp. Expert testimony for respondent broker-dealer re securities firm clearing practices (Deitchman v. Bear Stearns Securities Corp., FINRA Arbitration, Boca Raton, FL). Counsel: Bressler, Amery & Ross, P.C.
2007 Janney Montgomery Scott LLC Expert testimony for respondent broker-dealer re retail customer claim (Tobin Family Trust v. Janney Montgomery Scott) FINRA Arbitration, Boston MA.) Counsel: Nixon Peabody LLP.
2007 Knight Equity Markets, L.P. Expert testimony for claimant broker-dealer re securities firm operational practices (Knight Equity Markets v. vFinance, FINRA Arbitration New York. NY). Counsel: Dreier LLP.
2007 UBS Expert testimony for respondent broker-dealer re securities firm clearing practices (Riedel v Correspondent Services Corp., .FINRA Arbitration, Boston, MA). Counsel: AGC of CSC.
2006 Citigroup Global Markets, Inc. Expert testimony for claimant re brokerage firm sales practice (Serino v. Citigroup Global Markets., FINRA Arbitration, New York, NY). Counsel: Simmons Cooper LLC.
2006 Fidelity Brokerage Services LLC Expert testimony for claimant re brokerage firm sales practice (Golden v. Fidelity Brokerage Services, FINRA Arbitration, New York, NY). Counsel: Simmons Cooper LLC.
2006 First Southwest Company Expert testimony for respondent re securities firm operational practices (Southwest Securities v. First Southwest Co., FINRA Arbitration, Dallas, TX). Counsel: Patton Boggs, LLP.
2006 Sanders Morris Harris Group Expert testimony for claimant re brokerage firm sales practice (Roten v. Sanders Morris Harris, FINRA Arbitration, Dallas, TX). Counsel: Simmons Cooper LLC.
2006 Wexford Clearing Services Corporation Expert testimony for respondent re absence of clearing firm liability for introducing broker's sales practice (Shah v. Wexford Clearing Services Corp., FINRA Arbitration, Pittsburgh, PA) Counsel: Proskauer Rose LLP.
2005 Ehrenkrantz King Nussbaum Inc. Expert testimony for claimant re clearing firm operational practice (Ehrenkrantz King Nussbaum Inc. v. Correspondent Services Corporation, FINRA Arbitration, New York, NY). Counsel: McCarthy Fingar LLP.
2005 Emmett A. Larkin Company Expert testimony for respondent re clearing firm operational practice (Medical Assets LLC v. Emmett A. Larkin Co., FINRA Arbitration, New York, NY). Counsel: Dickstein Shapiro Morin & Oshinsky LLP.
2005 Quantum Loyalty Systems, Inc. Expert testimony for petitioner re value of minority interest in company (Quantum Loyalty Systems v. Drees, American Arbitration Association, Las Vegas, NV, Arbitrator Keyes). Counsel: Satterlee Stephens Burke & Burke LLP.
2004 Donaldson & Co. Inc Expert testimony for respondent re securities firm operational practice (Miller v. Donaldson & Co., FINRA Arbitration, New York, NY). Counsel: Proskauer Rose LLP.
2004 Merrill Lynch Expert testimony for respondent re suitability of investments (Smith v. Merrill Lynch, FINRA Arbitration, Raleigh, NC). Counsel: Sutherland Asbill & Brennan LLP.
2004 Prudential Securities, Inc. Expert testimony for respondent re clearing firm operational practice (Pascual v. Prudential Securities, FINRA Arbitration, New York, NY). Counsel: Proskauer Rose LLP.
2001 Ernst & Young LLP Expert testimony for respondent re possible initial public offering of shares (I/O Magic v. Ernst & Young, American Arbitration Association, Irvine, CA). Counsel: Heller, Ehrman White & McAuliffe.
2000 CarsDirect.com, Inc. Expert testimony for respondent re value of Internet subsidiary (Brogger v. CarsDirect.com, Los Angeles, CA, Judge Feinerman). Counsel: Heller Ehrman White & McAuliffe.
2000 Duane Reade, Inc. Expert testimony for respondent re damages from failure to operate business in the ordinary course (RB Holdings v. Duane Reade, JAMS/Endispute Arbitration Services, New York, NY, Judge Mollen). Counsel: Latham & Watkins.
2000 Hoke, Inc. Expert testimony for respondents re damages from alleged overstatement of EBITDA (Watts Investment Co. v. Former shareholders of Hoke, Inc., CPR Institute for Dispute Resolution, Chicago, IL, Judge McGarr). Counsel: Cadwalader, Wickersham & Taft.
1998 TV Data Technologies, L.P. Expert testimony for petitioner re fair market value of limited partnership interest (Mass v. CableSouth Management, American Arbitration Association, Atlanta, GA, Arbitrator Sherrill). Counsel: Bondurant Mixson & Elmore.
1997 TV Data Technologies, L.P. Expert testimony for petitioner re fair market value of limited partnership interest (Farwell v. CableSouth Management, American Arbitration Association, Los Angeles, CA, Judge Chernow). Counsel: Troy & Gould.
Testimony In Mediation
YearClientDetails
2005 McDonald Investments, Inc. Expert testimony in mediation for claimant re suitability of investments (Morrison v. McDonald Investments, FINRA Arbitration/Mediation, Boca Raton, FL.) Counsel: Simmons Cooper LLC.
Testimony By Deposition
YearClientDetails
2011 XO Holdings, Inc. Expert testimony for plaintiff re fairness of going-private transaction (Zheng v. Icahn, Supreme Court, N.Y. County, NY, Judge Ramos). Counsel: Abbey Spanier Rodd & Abrams, LLP.
2010 HealthSouth Corporation Expert testimony for plaintiff re fair market value of HealthSouth shares had accounting fraud not occurred (Tucker v. Ernst & Young, Circuit Court, American Arbitration Association, Birmingham, AL). Counsel: Bradley Arant Boult & Cummings, LLC; and others.
2010 Inergy, L.P. Expert testimony for plaintiff re fairness of combination with Inergy Holdings, L.P. (In re Inergy, L.P. Unitholder Litigation,. Court of Chancery, DE, Vice Chancellor Parsons). Counsel: Berger & Montague P.C.; Bragar Wexler Eagel & Squire, PC; Rosenthal, Monhait & Goddess, P.A.
2009 Colonial Fund Expert testimony for hedge fund re supervision (SEC v Colonial Fund, U.S. District Court, Southern Dist., NY) Counsel: Dickstein Shapiro Morin & Oshinsky LLP.
2009 Fluor Corporation Expert testimony for plaintiff re anti-dilution provisions of convertible debt (Fluor Corporation v. Citadel Equity Fund Ltd., U.S. District Court, Northern Dist., Texas, Judge Boyle). Counsel: Baker Botts L.L.P.
2009 PETCO Animal Products, Inc. Expert testimony for defendants re fairness opinions, corporate valuations and investment banking (In re PETCO Animal Products, Inc. Shareholder Litigation, Superior Court, County of San Diego, CA, Judge Meyer). Counsel: Pillsbury Winthrop Shaw Pittman LLC; Latham & Watkins LLP; Skadden, Arps, Slate, Meagher & Flom LLP; Wilmer Cutler Pickering Hale and Dorr LLP; Pestotnik & Gold LLP.
2006 Enron Corporation Expert testimony for plaintiffs re convertible debt arbitrage, the market's view of Enron in October 2001, and damages (Silvercreek Management v. Salomon Smith Barney, U.S. District Court, Southern Dist., Texas, Judge Harmon). Counsel: Cotchett, Pitre, Simon & McCarthy; Pomerantz Haudek Block Grossman & Gross LLP.
2006 Enron Corporation Expert testimony re analyst independence in an investment bank, supervisory requirements, and procedures to cure or prevent conflicts of interest between various classes of clients (In re Enron Corporation Securities, U.S. District Court , Southern Dist. TX) Counsel: Spenser & Associates PC.
2006 PETCO Animal Products, Inc. Expert testimony for defendants re risk-adjusted value of proposals to acquire the company (In re PETCO Animal Products, Inc. Shareholder Litigation, Superior Court, County of San Diego, CA, Judge Meyer). Counsel: Pillsbury Winthrop Shaw Pittman LLC.
2006 U.S. Bancorp Expert testimony for plaintiff re responsibility of bank with brokerage unit for handling of client?s accounts (Emery v. U.S. Bancorp, Superior Court, WA). Counsel: Simmons Cooper LLC.
2005 Freeport-McMoRan Sulphur, Inc. Expert testimony for plaintiffs re fairness of stock-for-stock merger with affiliated company (In re Freeport-McMoRan Sulphur, Inc. Shareholder Litigation, Court of Chancery, DE, Vice Chancellor Lamb). Counsel: Chimicles & Tikellis.
2005 Intermix Media, Inc. Expert testimony for plaintiff re fairness of proposed acquisition of Intermedia by Fox Interactive Media, Inc. (Friedmann v. Intermix Media' Superior Court, County of Los Angeles, CA, Judge Kuhl). Counsel: Kreindler & Kreindler LLP.
2005 Prudential Securities Incorporated Expert testimony for plaintiff re fee payable for investment banking services (Prudential Securities v. Energy Corp. of America, District Court, City and County of Denver, CO, Judge Gilman). Counsel: Lindquist & Vennum P.L.L.P.
2004 Home Diagnostics, Inc. Expert testimony for defendants re fee payable to consultant (Brandt v. Home Diagnostics, U.S. District Court, CT, Judge Underhill). Counsel: Satterlee Stevens Burke & Burke; Nunzo & Roberts, LLC.
2004 IDT Corporation Expert testimony for plaintiff re materiality of merger negotiations and impact of nondisclosure (IDT Corporation v. Telefónica, U.S. District Court, NJ, Judge Linares). Counsel: Bartlit Beck Herman Palenchar & Scott; Grayson & Kubli, P.C.; Robinson & Livelli.
2004 Novo Networks, Inc. Expert testimony for defendant re damages and adequacy of disclosure (EOS Partners v. Novo Networks, District Court of Harris County, TX, Judge Lindsay). Counsel: Bickel & Brewer.
2003 Empress Entertainment, Inc. Expert testimony for defendant re fairness of sale of riverboat casinos (McGowan v. Ferro, Court of Chancery, DE, Vice Chancellor Parsons). Counsel: Winston & Strawn; Richards, Layton & Finger.
2003 TRW, Inc. Expert testimony for plaintiff re value of warehouse management systems business (Quartet Holdings v. BDM International, Superior Court, DC, Judge Braman). Counsel: Arnold & Porter.
2002 Atlas Copco AB Expert testimony for defendants re valuation of plaintiff company (Air Turbine Technology v. Atlas Copco Tools, U.S. District Court, Southern Dist. FL, Magistrate Judge Bandstra). Counsel: Pillsbury Winthrop LLP.
2002 Bairnco Corporation Expert testimony for defendant in fraudulent conveyance case re value of businesses acquired from its subsidiary, Keene Corporation, and the value of Bairnco at the dates of the acquisitions (Lippe v. Bairnco, U.S. District Court, Southern Dist. NY, Judge Kim). Counsel: Debevoise & Plimpton.
2002 Broadview International, LLC Expert testimony for plaintiff re value of carried interest in venture capital management company (Broadview International v. CF Consulting, Chancery Div., Superior Court, Bergen County, NJ, Judge Yannotti). Counsel: Rosenman & Colin.
2002 Charter Communications, Inc. Expert testimony for company re value of shares of Mercom, Inc. in connection with shareholders' demand for appraisal (Gabelli Global Multimedia Trust v. Avalon Cable of Michigan, Court of Chancery, DE, Vice Chancellor Noble). Counsel: Richards, Layton & Finger.
2002 CIBC Wood Gundy Securities, Inc. Expert testimony for defendant re alleged verbal contract to repurchase securities (Bastion Capital v. CIBC Wood Gundy Securities, Superior Court, County of Los Angeles, CA, Judge Rothschild). Counsel: Mayer, Brown Rowe & Maw LLP.
2002 The MacManus Group, Inc. Expert testimony for defendant re disclosure practice and re likelihood of acquisition (Rizzo v. MacManus Group, U.S. District Court, Southern Dist. NY, Judge Pauley). Counsel: Davis & Gilbert LLP.
2001 Broadview International, LLC Expert testimony for defendant re effect of investment by a principal (B.R.M. Technologies, Ltd. v. Broadview International, U.S. District Court, NJ, Judge Lechner). Counsel: Rosenman & Colin; Norris, McLaughlin & Marcus, P.A.
2001 General Electric Credit Corporation Expert testimony for defendant re solvency of FoxMeyer Corporation at closing of financing (In re FoxMeyer Corporation, U.S. Bankruptcy Court, DE, Judge McCullough). Counsel: Murphy Scheneman Julian & Rogers.
2001 Lykes Bros. Inc. Expert testimony for defendant re value of shares in connection with shareholders' demand for appraisal (Lykes Bros. v. Rankin, Circuit Court, Hillsborough County, FL, Judge Bonanno). Counsel: Holland & Knight LLP.
2001 Siliconix Incorporated. Expert testimony for plaintiff re fairness of proposed acquisition of minority shares by 80% shareholder (In re Siliconix Incorporated Shareholder Litigation, Court of Chancery, DE, Vice Chancellor Noble). Counsel: Richards, Layton & Finger.
2000 Gothic Energy Corporation Expert testimony for plaintiff re conduct of investment banker (Gothic Energy v. Jefferies & Co., Inc., U.S. District Court, Northern Dist. OK, Judge Brett). Counsel: Pray, Walker, Jackman, Williamson & Marlar.
2000 Euro-Americas Development Corporation Expert testimony for plaintiff re investment banking practice and damages from breach of agreement (Euro-Americas Development v. Oppenheimer & Co., U.S. District Court, Southern Dist. NY, Judge Casey). Counsel: Gardere & Wynne; Satterlee Stephens Burke & Burke LLP.
2000 Midway Airlines Corporation Expert testimony for defendant re value of shares in connection with shareholders' demand for appraisal (Allenson v. Midway Airlines, Court of Chancery, DE, Vice Chancellor Jacobs). Counsel: Richards, Layton & Finger.
1999 Cornerstone Propane GP, Inc. Expert testimony for defendant re damages from alleged tortious interference with contract (All Star Gas v. Coast Gas, U.S. District Court, West­ern Dist. MO, Judge Clark). Counsel: Thompson Coburn.
1999 GMAC Commercial Mortgage Expert testimony for plaintiff re finder's fee (Dean v. GMAC Commercial Mortgage, Superior Court, County of San Diego, CA, Judge McConnell). Counsel: Post Kirby Noonan & Sweat LLP.
1999 3 Day Blinds, Inc. Expert testimony for plaintiff re financeability of transaction and performance of investment banker (Hameetman v. Schumann, Superior Court, County of Los Angeles, CA). Counsel: Hamburg, Hanover, Edwards & Martin; Hennigan Mercer & Bennett.
1999 U.S. Energy Systems, Inc. Expert testimony for plaintiff re damages from breach of contract (U.S. Energy Systems v. Enviro Partners, U.S. District Court, Southern Dist. N.Y., Judge Keenan). Counsel: Paul, Weiss, Rifkind, Wharton & Garrison.
1998 El Camino Resources, Ltd. Expert testimony for defendant re potential effect on underwriting of restated financials (Platinum Technology v. El Camino Resources, U.S. District Court, Central Dist. CA, Judge Snyder). Counsel: Mayer, Brown & Platt.
1998 H. W. Kaufman Financial Group, Inc. Expert testimony for defendants in class action re fairness of going-private transaction (Camden v. Kaufman, Circuit Court, County of Oakland, MI, Judge Nichols). Counsel: Barris, Sott, Denn & Driker; Honigman Miller Schwartz and Cohn.
1998 Rockwell International Corporation Expert testimony for defendant re whether a binding agreement had been reached (Interphase Corp. v. Rockwell International, U.S. District TX, Judge Lindsey). Counsel: Figari & Davenport.
1997 Chyron Corporation Expert testimony for defendant re investment banking fee (Percival Hudgins & Co. v. Chyron Corp., U.S. District Court, Northern Dist. GA, Judge Moye). Counsel: Camhy Karlinsky & Stein LLP; Kilpatrick Stockton LLP.
1997 DHL Corporation Expert testimony for plaintiff re valuation of DHL in connection with sale of voting shares owned by estate of control shareholder (DHL Corp. v. Bank of Saipan, Superior Court, County of San Mateo, CA, Judge Legge). Counsel: Sheppard, Mullin, Richter & Hampton LLP.
1997 Donnelly Corporation Expert testimony for defendant re whether a binding agreement had been reached and damages from alleged breach of contract (Midwest Manufacturing Holding v. Donnelly Corp., U.S. District Court, Northern Dist. IL, Judge Alesia). Counsel: Varnum, Riddering, Schmidt & Howlett LLP; Freeborn & Peters.
1997 Jones Intercable, Inc. Expert testimony for plaintiffs in class action re sale of cable system to general partner (Hirsch v. Jones Intercable, District Court, County of Arapahoe, CO, Judge Leopold). Counsel: Lowey Dannenberg Bemporad & Selinger P.C.; Wolf & Slatkin P.C.
1997 Perrigo Company Expert testimony for defendants re valuation methodology and fairness of management buyout (Glidden Co. v. Jandernoa, U.S. District Court, Western Dist., MI, Judge Bell). Counsel: Fried, Frank, Harris, Shriver & Jacobson, P.C.
1996 Marvin Lumber & Cedar Company Expert testimony for plaintiffs re value of joint venture in connection with court-ordered sale to 50% interest to defendant (Marvin Lumber & Cedar v. Apogee Enterprises, District Court, Third Judicial Dist., MN, Judge Johnson). Counsel: Winthrop & Weinstine.
Testimony By Report Or Affidavit
YearClientDetails
2011 Goldman, Sachs & Co. Inc. Expert testimony for defendant re value of services rendered by plaintiff (Paragon & Co. v. Mehra, U.S. District Court, Central Dist., CA, Judge Pregerson). Counsel: Fried, Frank, Harris, Shriver & Jacobson LLP; Gibson, Dunn & Crutcher LLP.
2011 Money Concepts Capital Corporation Expert report for respondent re over¬concentration in non-tradable REITS (Davie v. Money Concepts Capital Corporation, FINRA Arbitration, Boca Raton, FL). Counsel: Fowler White Burnett P.A.
2011 MoneyGram International. Inc. Expert testimony for defendant re fairness of recapitalization (Pittman v. Clark, Court of Chancery, DE, Chancellor Chandler). Counsel: Jones Day; Morris, Nichols, Arsht & Tunnell.
2010 Andrew Garrett, Inc. Expert testimony for defendant re value of customer accounts of brokerage firm (In re S.W. Bach & Company, U.S. Bankruptcy Court, Southern Dist., NY, Judge Glenn). Counsel: Joseph M. Hecht, Esq.
2010 Ditech Networks, Inc. Expert report for claimant customer re investments in auction rate securities (Ditech Networks, Inc. v. Merrill Lynch, FINRA Arbitration, San Francisco, CA). Counsel: Cotchett, Pitre & McCarthy, LLP.
2009 TEPPCO Partners, L.P. Expert testimony for plaintiff re investment bankers opinions and value of settlement (Brinckerhoff v. Teppco Eastern Products Pipeline Company, LLC, Court of Chancery, DE, Vice Chancellor Laster). Counsel: Bragar Wexler Eagel & Squire, PC; Rosenthal, Monhait & Goddess, P.A.
2008 Daniel Zanger Expert report for firm trader re use of leverage in a hedge fund (Independent Asset Management v. Zanger, U.S. District Ct., Southern Dist. NY). Counsel: Jones Day.
2008 HealthSouth Corporation Expert testimony for plaintiff re actions of UBS as financial advisor to HealthSouth (Tucker v. Scrushy, Circuit Court, Montgomery County, AL, Judge Horn). Counsel: Bradley Arant Rose & White LLC; and others.
2008 UnionBanCal Corporation Expert testimony for plaintiff re adequacy of disclosure in tender offer by Mitsubishi UFJ Financial Group, Inc. (Kahn v. Mitsubishi UFJ Financial Group, Inc., Superior Court, County of San Francisco, CA, Judge Busch). Counsel: Berman DeValerio Pease Tabacco Burt & Pucillo; and others.
2007 DJO, Incorporated Expert testimony for defendants re adequacy of disclosure in proxy statement for buyout (In re DJO Shareholder Litigation, Superior Court, County of San Diego, CA, Judge Hofmann). Counsel: Latham & Watkins LLP.
2007 Gilman & Ciocia, Inc. Expert testimony for plaintiff re damages resulting from the sale of a significant portion of Gilman & Ciocia's business to an officer and director (Kosseff v. Ciocia, Court of Chancery, DE, Master Glasscock). Counsel: Murray, Frank & Sailer, LLP; Chimicles & Tikellis LLP.
2007 Royal Standard Minerals Inc. Expert testimony for plaintiff re impact of defendants' failure to file Schedule 13D's on plaintiff's shareholders and on the market (Royal Standard Minerals v. Puplava, U.S. District Court, Central Dist., CA, Judge Gutierrez). Counsel: Susman Godfrey L.L.P.
2005 Lynch Corporation Expert testimony for defendant re reasonableness of interest and fees (United States Of America Ex Rel. R.C. Taylor III v. Gabelli, U.S. District Court, Southern Dist., NY, Judge Scheindlin). Counsel: Covington & Burling.
2005 Oracle Corporation Expert testimony for plaintiff as to whether terms of settlement of litigation provided meaningful value to Oracle (Akhter v. Ellison, Superior Court, County of San Mateo, CA, Judge Schwartz). Counsel: Berman DeValerio Pease Tabacco Burt & Pucillo; Corey, Luzaich, Pliska, De Ghetaldi & Nastari LLP.
2005 Proskauer Rose LLP Expert testimony for defendant re fair value of shares of Adaptive Broadband Corporation (Tolz v Proskauer Rose, U.S. Bankruptcy Court, Southern Dist., FL., Judge Ray). Counsel: Proskauer Rose LLP.
2004 Ash Grove Cement Company, Inc. Expert testimony for defendants re valuation of ready
2004 Flashcom, Inc. Expert testimony for defendants re reasonableness of purchase of shares from a founding shareholder (In re Flashcom. Inc., U.S. Bankruptcy Court, Southern Dist., CA, Judge Ryan). Counsel: Latham & Watkins LLP.
2004 Robert Mondavi Corp. Expert testimony for plaintiffs in class action re automatic conversion provision of high
2004 TranCanada Corporation Expert testimony for intervenor re valuation of gas pipeline (Gasoducto Bajanorte v. North Baja Pipeline), American Arbitration Association, Judge Davies, Los Angeles, CA). Counsel: Mayer, Brown, Rowe & Maw LLP.
2004 WorldCom, Inc. Expert testimony for plaintiff re adequacy of due diligence and of disclosure in connection with debt underwriting (The Retirement Systems of Alabama v. J.P. Morgan Chase & Co., Circuit Court, Montgomery County, AL, Judge Price). Counsel: Haskell, Slaughter, Young & Rediker L.L.C.
2003 FTD.com, Inc. Expert testimony in mediation for plaintiffs re fairness of acquisition of minority interest in FTD.com, Inc. by IOS Brands Corporation (FTD.com Shareholders Litigation, Court of Chancery, DE, Vice Chancellor Strine). Counsel: Wolf Popper LLP; Kirby McInerny & Squire, LLP.
2003 The Limited, Inc. Expert testimony for plaintiffs re value of call option and fairness of rescission (In re The Limited, Inc. Shareholder Litigation, Court of Chancery, DE, Vice Chancellor Noble). Counsel: Kirby McInerney & Squire, LLP; Rabin Murray & Frank LLP.
2002 Fry's Electronics, Inc. Expert testimony for petitioner re value of the company for gift tax (Fry v. Commissioner, U.S. Tax Court, CA, Judge Laro). Counsel: The Fiore Law Group LLC.
2002 Litton Industries, Inc. Expert testimony for plaintiff re fairness of settlement re squeeze
2002 The Reader's Digest Association, Inc. Expert testimony for plaintiff re fairness of recapital
2002 Station Casinos, Inc. Expert testimony for petitioner re relative value of company's gaming businesses (Fertitto v. Commissioner, U.S. Tax Court, DC). Counsel: Skadden, Arps, Slate, Meagher & Flom.
2001 Estate of Barbara Fasken Expert testimony for petitioner re fair market value of interests in an oil and gas business and related entities (Estate of Fasken v. Commissioner, U.S. Tax Court, CO, Judge Halpern). Counsel: Baker Botts LLP.
2001 Gleacher & Co., Inc. Expert testimony for defendant re value of assets acquired from Gleacher NatWest Inc. (Farallon Capital Partners v. Gleacher & Co., U.S. District Court, Southern Dist., CA, Judge Berle). Counsel: Thelen Reid & Priest LLP.
2001 Towers, Perrin, Forster & Crosby, Inc. Expert testimony for defendant re due diligence and valuation (Raytheon Co. v. Towers, Perrin, Forster & Crosby, U.S. District Court, Central Dist., CA, Judge Real). Counsel: Jeffer, Mangels, Butler & Marmaro, LLP; O'Donnell & Shaeffer, LLP.
2001 WRT Creditors Liquidation Trust Expert testimony for plaintiff re conduct of defendants as financial advisors and underwriters for WRT Energy Company (WRT Creditors Liquidation Trust v. CIBC Oppenheimer, District Court, Montgomery County, TX, Judge Edwards). Counsel: Pillsbury Winthrop LLP; Susman Godfrey.
2000 Broadview International, LLC Expert testimony for defendant re investment banking practice in rendering fairness opinions (Byrne v. Broadview International, U.S. District Court, Northern Dist. TX, Judge Sanders). Counsel: Vinson & Elkins; Rosenman & Colin.
1999 Brauvin High Yield Fund L.P. Expert testimony for plaintiff re proxy disclosure and fairness opinion (Christman v. Brauvin Realty Advisors, U.S. District Court, Northern Dist. IL, Eastern Div., Judge Gottschall). Counsel: The Mills Law Firm; Futterman & Howard, Chtd.
1999 St. John Knits, Inc. Expert testimony for plaintiff in class action re value of shares (Hill v. St. John Knits, Superior Court, County of Orange, CA, Judge McDonald). Counsel: Beatie & Osborn LLC.
1999 SI Management LP Expert testimony for plaintiffs re benefits of settlement to limited partners of partnership controlling Synthetic Industries, Inc. (Wininger v. SI Management, U.S. District Court, Northern Dist. CA, Judge Wilken). Counsel: The Mills Law Firm.
1998 Chiquita Brands International, Inc. Expert testimony for plaintiff re value of Philippine banana business (Chiquita International Limited v. Fresh Del Monte Produce, Circuit Court, Dade County, FL, Judge Wison ). Counsel: Kaye, Scholer, Fierman, Hays & Handler.
1998 Polaris Aircraft Income Funds Expert testimony for plaintiffs re benefits of settlement to limited partners (Wallace v. Polaris Investment Corporation, Superior Court, County of San Francisco, CA, Judge Quidachay). Counsel: Fotenos & Suttle, P.C.; Wolf Haldenstein Adler Freeman & Herr, LLP.
1997 Allmerica Property & Casualty Companies, Inc. Expert testimony for plaintiffs re fairness of merger with Allmerica Financial Corporation (In re Allmerica Property & Casualty Shareholders Litigation, Court of Chancery, DE, Vice Chancellor Jacobs). Counsel: Rosenthal, Monhait, Gross & Goddess, P.A.; Abbey, Gardy & Squitieri, LLP; Bernstein Litowitz Berger & Grossman LLP; and others.
1997 Amdahl Corporation Expert testimony for plaintiffs re fairness of cash merger price in settlement of class action (Lopez v. Amdahl, Court of Chancery, DE, Vice Chancellor Steele). Counsel: Rosenthal, Monhait, Gross & Goddess, P.A.; and others.
1997 Buckeye Partners, L.P. Expert testimony for plaintiffs re value of settlement and fairness of issuance of units to ESOP (Shakerdge v. Martinelli, Court of Chancery, DE, Vice Chancellor Balick). Counsel: Rosenthal, Monhait, Gross & Goddess, P.A.; Abbey, Gardy & Squitieri, LLP.
1997 Micron Technology, Inc. Expert testimony for defendant re value of minority interest in subsidiary (Hecker v. Micron Technology, U.S. District Court, ID, Judge Windmill). Counsel: Morrison & Foerster.
1996 AutoLend, Inc. Expert testimony for company re fairness of settlement of litigation between major shareholders to non
1996 Borden Inc. Expert testimony for plaintiffs re fairness of exchange of Borden shares for RJR Nabisco Holdings shares and re value of settlement (Petersen v. Borden Inc., U.S. District Court, Southern Dist. NY, Judge Sotomayor; In re Borden Shareholders Litigation, Chancery Div., Superior Court, Mercer County, NJ, Judge Lennox). Counsel: Abbey & Ellis.
1996 Cellular Communications, Inc. Expert testimony for plaintiffs re value of benefits received in settlement (Cellular Communications, Inc. Shareholders Litigation, Court of Chancery, DE, Chancellor Allen). Counsel: Rosenthal, Monhait, Gross & Goddess; and others.
1996 Marc Rich & Co Holding AG Expert testimony for petitioner re value of aluminum business (Marc Rich & Co Holding AG v. Glencore International AG), arbitration, Zurich, Switzerland. Counsel: Henrici, Wicki & Guggisberg; Kronish Lieb Weiner & Hellman LLP.