We routinely work on high-stakes cases in federal and state jurisdictions and have been retained by top U.S. law firms and attorneys, with more than 1,400 expert appearances collectively across 47 states. Additionally, we work directly with government agencies, including the Department of Justice, the Department of Labor, the Internal Revenue Service, and the Securities and Exchange Commission, to resolve our clients' issues. We utilize our extensive experience both inside and outside of the courtroom to analyze recent cases so others can make informed decisions. We have reviewed many Delaware Chancery Court matters, as well as cases involving bankruptcy, tax, intellectual property, and valuation disputes.

 

Delaware Chancery Court Sides With Petitioner’s Expert in Appraisal Proceeding

Lacking market-based evidence of fair value, the court relied on traditional valuation methodologies in its decision.

 

Delaware Chancery Court Finds Fair Price Was Paid in UIP Stock Sale

Applying the entire fairness standard, the court ruled the defendants met their burden.

 

2019 Delaware Court Decisions:
Year in Review

A look at important business valuation decisions, insights, and trends in 2019 Delaware Court of Chancery cases.

 

In Re: Appraisal of Stillwater Mining Company –
Delaware Court Opts for Deal Price – Again

The court found that while the sale process was not perfect, the facts of this case, when viewed as a whole, compared favorably with the facts in other recent Court of Chancery cases

 

In Re: Appraisal of Columbia Pipeline Group, Inc. –
Delaware Court Opts for Deal Price

The Delaware Court of Chancery opined against the petitioners' proposed valuation.

 

In Re: Appraisal of Jarden Corporation –
Market Price and DCF Analysis

The Delaware Chancery Court relied on the unaffected market price and performed an independent DCF analysis to corroborate the most persuasive market evidence.

 

Fair Value Methods of the Delaware Chancery Court:
Deal Price Less Synergies

We discuss the valuation of synergies and present a framework for allocating value between buyer and target in an M&A transaction.

 

Delaware Supreme Court Reverses Aruba Decision

In ruling, the court uses deal price less synergies in deriving the fair value of Aruba Networks, Inc.

 

Kress v. U.S. Offers Important Guidance for Appraisers

The gift tax matter covered the Guideline Public Company Method, S corps versus C corps, discounts for lack of marketability, transfer restrictions, and more.

 

Power Integrations v. Fairchild: Federal Circuit’s Guidance on the EMVR

The case is another example of how the court handles the application of the Entire Market Value Rule in patent infringement matters.

 

Long-Term Growth Rate Trends in Delaware Chancery Decisions

Recent decisions illuminate the Delaware Court of Chancery’s perspective on long-term growth rates in discounted cash flow analyses.

 

Domain v. Shah Highlights Several Key Valuation Considerations

The Delaware Chancery Court ruled that Shah be awarded fair value of his LLC member interest rather than the book value of his capital account.

 

Merger Price Carries the Weight in Delaware Chancery’s Solera Decision

The Delaware Court of Chancery’s ruling was consistent with previous appraisal cases and found that representative DCF models were not credible.

 

In Norcraft, the Delaware Court Offers Further Valuation Guidance

The opinion in Blueblade v. Norcraft marks another instance in which the Delaware Chancery Court exclusively relied on DCF analysis in determining fair value.

 

Delaware Chancery Court Decision in Appraisal of AOL Inc.

Stout's expert analysis of factors used in the Delaware Chancery Court ruling in In re Appraisal of AOL Inc. to determine the fair value of the Verizon transaction.

 

Cecil v. Commissioner – The Hope for S Corp Valuation Clarity

In Cecil, the subject S corporation is an 83-year-old family business, the Biltmore Company, which operates the Biltmore Estate in Ashville, North Carolina.

 

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