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.
Owners of public and private companies often require valuations. Valuations are necessary for:
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:
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.
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.
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.
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.
Sutter holds itself to high standards in rendering fairness opinions.
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.
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.
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.
Year | Industry | Company | Transaction |
2014 | Retail (Non-Food) | Hancock Fabrics, Inc. | Fairness opinion re reverse stock split. |
2010 | Automotive | Ford Motor Company | Fairness opinion to fiduciary of employee benefit plan re $3 billion sale of Ford zero-coupon debt to Ford. |
2010 | Pharmaceuticals | Senetek plc | Fairness opinion re sale of division to former CEO. |
2010 | Real Estate | IMH Secured Loan Fund, LLC | Fairness opinion re acquisition of management company. |
2009 | Food & Beverage | Vita Food Products, Inc. | Fairness opinion re going-private transaction. |
2007 | Food & Beverage | Vita Food Products, Inc. | Fairness opinion re sale of stock and warrants to a director. |
2006 | Food & Beverage | Vita Food Products, Inc. | Fairness opinion re private placement of stock and warrants |
2006 | Semiconductors | Catalyst Semiconductors, Inc. | Fairness opinion re poison pill. |
2005 | Real Estate | BF Enterprises, Inc. | Fairness opinion re reverse stock split. |
2003 | Biotechnology | SIGA Technologies, Inc. | Fairness opinion re private sale of stock and warrants to investor. |
2003 | Electronics | TeleVideo, Inc. | Fairness opinion re proposed going-private transaction. |
2003 | Internet | INSCI Corp. | Fairness opinion re recapitalization of company. |
2003 | Manufacturing | Wilshire Technologies, Inc. | Fairness opinion re going-private transaction. |
2003 | REITs | Berkshire Income Realty, Inc. | Fairness opinion re exchange offer of preferred stock for units in mortgage trusts. |
2002 | REITs | Anworth Mortgage Asset Corporation | Fairness opinion re acquisition of management company. |
2001 | Investment | Clarion Commercial Holdings, Inc. | Fairness opinion re transaction with manager. |
2000 | Finance | Home Security International, Inc. | Fairness opinion re sale of 50% of consumer finance company. |
2000 | Internet | CarsDirect.com, Inc. | Fairness opinion re issuance of high-vote shares. |
2000 | Shipping | Seacor Smit Inc. | Fairness opinion re purchase of barge assets from affiliate. |
1999 | Internet | Digital Link Corporation | Fairness opinion to purchaser re going-private transaction. |
1997 | Finance | Home Security International, Inc. | Fairness opinion re acquisition of 50% of consumer finance co. from affiliate. |
1997 | Healthcare | California Department of Corporations | Opinion re conversion of Vista Behavioral Health Plans and its sale to Green Spring Health Services, Inc. |
1996 | Data Processing | Digital Video Systems, Inc. | Fairness opinion re acquisition of ViComp Technology, Inc. |
1996 | Finance | AutoLend Group, Inc. | Fairness opinion re sale of subsidiary to officers in settlement of litigation. |
Year | Industry | Company | Transaction |
2011 | Real Estate | IMH Financial Corporation | Fairness opinion re sale of convertible debt. |
2009 | Chemicals | Dow Chemical Company | Opinion for ESOP fiduciary re viability of the company. |
2008 | Semiconductors | ESS Technology, Inc. | Fairness opinion re acquisition of the company. |
2006 | Biotechnology | SIGA Technologies, Inc. | Fairness opinion re proposed merger with PharmAthene, Inc. |
2005 | Healthcare | California Department of Managed Health Care | Fairness opinion re sale by Sharp Health Plan of its Medi-Cal business, Healthy Families Program, and AIM Program to Molina Healthcare of California. |
2001 | Internet | insci-statements.com corp. | Fairness opinion re sale of convertible debt. |
2001 | Marine | R. Holdings, Inc. | Fairness opinion re sale of $78 million of convertible notes. |
2001 | Security | The Kroll O’Gara Company | Fairness opinion re sale of armored car business. |
2000 | Education | California Culinary Academy, Inc. | Fairness opinion re cash merger with Career Education Corporation. |
2000 | Oil & Gas | Union Pacific Resources Group Inc. | Opinion to fiduciary re merger with Anadarko Petroleum Corporation. |
2000 | Semiconductors | Galvantech, Inc. | Fairness opinion re merger with Cypress Semiconductor, Inc. |
2000 | Trade Shows | HW Exhibits Inc. | Fairness opinion re merger with Creative Management Services, Inc. |
1999 | Food & Beverage | Vacu-dry Company | Fairness opinion re sale of principal business. |
1999 | Services | Deloitte & Touche LLP | Fairness opinion re sale of systems integration consulting group. |
1998 | Food & Beverage | Pepsi-Cola Puerto Rico Bottling Company | Fairness opinion re sale of voting control to Pohlad Companies. |
1998 | Manufacturing | Home Security International, Inc. | Fairness opinion re acquisition of Ness Security Products Pty. Ltd. |
1998 | Semiconductors | Catalyst Semiconductors, Inc. | Fairness opinion re issuance of shares to outside investor. |
1997 | Finance | Bear, Stearns & Co. Inc. | Opinion to both parties re value of brokerage firm in connection with sale of minority interest back to issuer. |
1996 | Data Processing | Digital Video Systems, Inc. | Fairness opinion re change in terms of warrants. |
Year | Industry | Company | Transaction |
2014 | Retail (Non-Food) | Hancock Fabrics, Inc. | Fairness opinion re reverse stock split. |
2010 | Automotive | Ford Motor Company | Fairness opinion to fiduciary of employee benefit plan re $3 billion sale of Ford zero-coupon debt to Ford. |
2010 | Pharmaceuticals | Senetek plc | Fairness opinion re sale of division to former CEO. |
2010 | Real Estate | IMH Secured Loan Fund, LLC | Fairness opinion re acquisition of management company. |
2009 | Food & Beverage | Vita Food Products, Inc. | Fairness opinion re going-private transaction. |
2007 | Food & Beverage | Vita Food Products, Inc. | Fairness opinion re sale of stock and warrants to a director. |
2006 | Food & Beverage | Vita Food Products, Inc. | Fairness opinion re private placement of stock and warrants |
2006 | Semiconductors | Catalyst Semiconductors, Inc. | Fairness opinion re poison pill. |
2005 | Real Estate | BF Enterprises, Inc. | Fairness opinion re reverse stock split. |
2003 | Biotechnology | SIGA Technologies, Inc. | Fairness opinion re private sale of stock and warrants to investor. |
2003 | Electronics | TeleVideo, Inc. | Fairness opinion re proposed going-private transaction. |
2003 | Internet | INSCI Corp. | Fairness opinion re recapitalization of company. |
2003 | Manufacturing | Wilshire Technologies, Inc. | Fairness opinion re going-private transaction. |
2003 | REITs | Berkshire Income Realty, Inc. | Fairness opinion re exchange offer of preferred stock for units in mortgage trusts. |
2002 | REITs | Anworth Mortgage Asset Corporation | Fairness opinion re acquisition of management company. |
2001 | Investment | Clarion Commercial Holdings, Inc. | Fairness opinion re transaction with manager. |
2000 | Finance | Home Security International, Inc. | Fairness opinion re sale of 50% of consumer finance company. |
2000 | Internet | CarsDirect.com, Inc. | Fairness opinion re issuance of high-vote shares. |
2000 | Shipping | Seacor Smit Inc. | Fairness opinion re purchase of barge assets from affiliate. |
1999 | Internet | Digital Link Corporation | Fairness opinion to purchaser re going-private transaction. |
1997 | Finance | Home Security International, Inc. | Fairness opinion re acquisition of 50% of consumer finance co. from affiliate. |
1997 | Healthcare | California Department of Corporations | Opinion re conversion of Vista Behavioral Health Plans and its sale to Green Spring Health Services, Inc. |
1996 | Data Processing | Digital Video Systems, Inc. | Fairness opinion re acquisition of ViComp Technology, Inc. |
1996 | Finance | AutoLend Group, Inc. | Fairness opinion re sale of subsidiary to officers in settlement of litigation. |
Year | Client | Details |
2014 | Metagenics, Inc. | Testimony for defendants re financeability of private company (Brosnan & others v. Katke & others, Federal Court of Australia, Queensland Registry, Justice Greenwood). Counsel: Johnson Winter & Slattery. |
2013 | Vita Food Products, Inc. | Testimony for defendants re fairness opinion in going-private transaction (Rubin v. Bedford, Circuit Court, Cook County, IL, Judge Hogan). Counsel: Much Shelist, P.C. |
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. |
Year | Client | Details |
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. |
Year | Client | Details |
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. |
Year | Client | Details |
2018 | PDC Energy, Inc. | Expert testimony for plaintiff re fairness in squeeze-out of limited partners (Rodenfels v. PDC Energy, U.S. Dist. Court, CO, Judge Brimmer). Counsel: Foley Bezek Behle & Curtis LLP. |
2015 | Revelation Capital Management Ltd. | Expert testimony for defendant as to whether a Canadian overnight offering was a firm commitment underwriting, SEC v. Revelation Capital Management Ltd. (U.S. Dist. Court, Southern Dist. NY, Judge Caproni). Counsel: Seward & Kissel LLP. |
2014 | Fund.com | Expert testimony for plaintiff re damages resulting from breach of contract (Supreme Court, N.Y County., NY, Judge Schweitzer). Counsel: Gross Law; Law Offices of Benjamin Klein. |
2014 | Petroleum Development Corporation | Expert testimony for plaintiffs re proxy disclosure and re standard of value for entire fairness in squeeze-out of limited partners (Schulein v. Petroleum Development Corporation, U.S. Dist. Court, Central Dist., CA, Judge Guilford). Counsel: Susman Godfrey L.L.P.; Foley Bezek Behle & Curtis LLP; Good Wildman Hegness & Walley. |
2013 | Cowen & Company | Expert testimony for defendant as to reasonableness of conclusion and limitations in fairness opinion (Madden v. Cowen & Company, Superior Court, County of San Francisco, CA, Judge Karnow). Counsel: Dechert LLP. |
2013 | In re El Paso Partners, LP, Derivative Litigation | Expert testimony for plaintiff re certain actions of directors in connection with transaction with related party (In re El Paso Partners, LP, Derivative Litigation, Court of Chancery, DE, Chancellor Strine). Counsel: Bragar Eagel & Squire, PC. |
2012 | Instrumentation Laboratory Co. | Expert testimony for plaintiff re due diligence in connection with alleged breach of disclosure obligations in stock purchase agreement (Instrumentation Laboratory Co. v. Binder, U.S. Dist. Court, Southern Dist. CA, Magistrate Judge Brooks). Counsel: Milbank Tweed Hadley & McCloy LLP. |
2012 | International Textile Corporation | Expert testimony for defendant investment banker as to reasonableness of services performed and methods used in fairness opinion (In re: International Textile Group Merger Litigation, Court of Common Pleas, County of Greenville, SC. Judge Hill). Counsel: Husch Blackwell LLP; Andrews Kurth LLP. |
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, WestÂern 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. |
Year | Client | Details |
2014 | Duro Bag Manufacturing Company | Expert testimony for plaintiffs re potential debt refinancing (Gerson v. Shor, Court of Common Pleas, Hamilton County, OH, Judge Martin). Counsel: Dinsmore & Shohl LLP. |
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. |