Sample new case abstracts added to BVLaw


Now available on BVLaw:

Palmerino v. Palmerino, 2011 WL 1450359 (Mass. App. Ct.)(April 15, 2011)(unpub.) Massachusetts court precludes discounts in valuing marital business in divorce, and says that while income approach is preferred, net asset value may be appropriate in the absence of determinable market value.

Experts: David Gannett (joint expert); Felix Betro (husband’s expert)

Judge:  Rubin

State/Jurisdiction: Mass.

Court: Court of Appeals

Type of case:  marital dissolution

Stratte-McClure v. Morgan Stanley, 2011 WL 1362100 (S.D.N.Y.)(April 4, 2011) Court finds that Morgan Stanley failed to disclose its subprime exposure and losses, but dismisses complaint for lack of adequate allegations of loss causation, with leave to file amended claims.

Experts: none

Judge:  Batts

State/Jurisdiction: federal  / N.Y.

Court: U.S. District Court

Type of case:  securities litigation

Giaimo v. Vitale, 2011 WL 1549064 (N.Y. Sup.)(April 25, 2011)(unpub.) New York court confirms application of marketability discount and discount for built-in-capital gains to statutory fair value determination of real estate holding company.

Experts: Z. Christopher Mercer (petitioner); Joan Lipton and Jeffery Baliban (respondent)

Judge:  Freidman

State/Jurisdiction: New York

Court: court of appeals

Type of case:  dissenting shareholder

In re Answers Corp. Shareholders Litigation, 2011 WL 1366780 (Del. Ch.)(April 11, 2011) DE Chancery Court approves sale of hard-to-value internet company, even though lack of any long-term forecasts prevented DCF analysis, and fairness opinion had to rely on market approach despite lack of truly comparable public companies.

Experts: Mary O’Connor (plaintiffs); UBS (company defendant)

Judge:  Noble

State/Jurisdiction: Delaware

Court: Chancery

Type of case:  dissenting shareholder

Peterson v. Jackson, 2011 WL 14519606 (Utah App.)(April 14, 2011) Court confirms fair value determination of CPA firm based on income, market, and asset-based approaches; a former buy-in transaction concerning the same firm; and a non-compete agreement that effectively transferred personal goodwill to the enterprise.

Experts: Brad Townsend (departing shareholder); Tyler Bowles (company)Judge:  Voros

State/Jurisdiction: Utah

Court: Court of Appeals

Type of case:  judicial dissolution


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