Trends and Updates on Financial Damages Calculations and Valuations: Best Practices Explored
Overview:
Accurate calculation and valuation of financial damage claims are crucial in litigation. These processes, although tricky, can gauge the case properly, reduce litigation-related problems, and return proven losses. However, with the fast-changing legal climate and the emergence of notable cases and court decisions, governing guidelines have also constantly evolved. This has continuously confronted financial experts with myriad of challenges.
To avoid pitfalls, it is imperative that businesses and their legal counsel are in the know of the recent developments in this area of law. In-depth knowledge of the rules as well as the calculation tools and techniques are also necessary.
Listen as valuation experts, Jonathan Polonsky (NERA) and Andrea Gonzalez (Alvarez & Marsal) provide the audience with a comprehensive discussion of calculating and valuating financial damages. Speakers will highlight efficient methodologies and offer best practices and effective strategies in light of recent developments.
This LIVE webcast will discuss the following key provisions:
- Financial Damages Calculation and Valuation – Trends and Updates
- Types of Damages and Damage Models
- Valuation Approaches
- Notable Cases and Court Rulings
- Red Flags
- Best Practices
Agenda:
Jonathan Polonsky, Senior Consultant
NERA Economic Consulting
- Recent trends in Delaware appraisal matters
- Delaware Courts have placed greater emphasis in the recent past on the deal price or unaffected market price as the best indicators of value
- Petitioners may place greater emphasis going forward on arguing that the target company’s value has increased during the period between signing and closing (the “Temporal Gap”)
- Recent court decisions indicate that the court will consider changes in value during the temporal gap when company or macroeconomic factors have a measurable impact on firm value that were not incorporated into the acquisition price
- Implications for the future
- Describe illustrative DCF example examining value changes arising from the 2017 Tax Reform
- Evaluate arguments that petitioners and respondents may make relating to changes in value during the Temporal Gap
Andrea Gonzalez, Managing Director
Alvarez & Marsal
- Purchase Price Disputes
- Elements of purchase agreements and the mechanisms included within to adjust the agreed upon purchase price
- Purchase price disputes that often result from purchase price adjustment mechanisms
- A recent representations and warranties (R&W) purchase price dispute and an illustrative example of a damage calculation
- Common rebuttal arguments to breach of financial R&W damage claims
- Importance of determining an appropriate discount rate and cash flows when estimating the damages
- Recent M&A trends and outlook for 2020 and beyond
Mr. Polonsky is a Senior Consultant in NERA’s Global Securities and Finance Practice. He has nearly 15 years of experience …
Andrea Gonzalez is a Managing Director with Alvarez & Marsal Disputes and Investigations in Chicago. She testifies as an expert …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method Of Presentation:
On-demand Webcast; Group-Internet Based
Prerequisite:
General knowledge of commercial litigation
Course Code:
148833
NASBA Field of Study:
Accounting - Technical
NY Category of CLE Credit:
Areas of Professional Practice
Total Credit:
1.0 CLE; 1.0 NASBA-CPE
Login Instructions:
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SPEAKER FIRMS:
About NERA Economic Consulting
NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.
Website: https://www.nera.com/
About Alvarez & Marsal
A&M delivers operational, consulting, investigative and industry expertise to management and investors across the world. We often advise on large-scale global projects, leveraging our experienced network of professionals who reside or work in North America, Latin America, Europe, the Middle East, Africa, Asia, Australia and Russia.
Website: https://www.alvarezandmarsal.com/
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