U.S. District Court Decides Some Issues for Government and Some for Defendants But Very Little in Damages in an ERISA ESOP Case

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

Walsh v. Preston, 2022  Background. On Dec. 30, 2014, the plaintiff, Walsh (Secretary of Labor), filed this action pursuant to ERISA against the defendants. The complaint alleged the following: (1) breach of fiduciary duties; (2) engaging in prohibited transactions;...

Taxpayer Is Denied Charitable Deduction for a Conservation Easement, and Gross Valuation Misstatement Penalties Are Applied

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

Brooks v. Comm’r The IRS (respondent) issued a notice of deficiency to Kenneth M. Brooks and Anita Wolke Brooks (petitioners) in which the respondent disallowed carryover charitable contribution deductions relating to the petitioners’ interest in the Kenneth Brooks...

Illinois Appeals Court Affirms Trial Court’s Acceptance of Real Estate Value in Absence of Wife’s Submission of a Competing Value

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

In re Trapp, 2022 IL App The primary issue, for valuation purposes, of this Illinois appeal of a divorce decree was the appeal court’s affirmation of the trial court’s decision to accept the valuation of the husband’s business valuation expert, Neil Gerber, as to the...

U.S. District Court Partially Excludes Witness in Securities Value Case and Allows Rebuttal Witness

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

In re Navidea Biopharmaceuticals Litig. A pharmaceuticals company, Navidea, sued its former CEO, Michael Goldberg, for, among other things, breach of contract and for a declaratory judgment establishing the contractual rights and obligations of the parties. These...

Delaware Court Grants in Some Cases and Denies in Others Motions to Exclude Expert Witnesses and Certain Evidence to be Presented

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

LCT Capital, LLC v. NGL Energy Partners LP This case dealt with motions related to an ongoing case in the court. The court offered both orders and opinions to resolve the issues at hand. The plaintiff had a Daubert motion to exclude the opinions of the defendant’s...

Idaho Supreme Court Affirms Magistrate Judge’s Opinion Regarding Personal Goodwill

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

Lamm v. Preston, 2023 This was a tip of the iceberg Idaho Supreme Court decision on a very complex divorce case. This particular decision related to the magistrate court’s order, upheld by the district court, as to the fair market value of one of the parties’...