Dispute: Complex Business Disagreements and Litigation

By: Duff And Phelps  09-12-2011
Keywords: supreme court, Private Security, Financial Accounting

When facing disputes that may lead to litigation or dealing with complex business matters, attorneys rely on consultative and professional services to clarify facts, quantify damages and communicate findings in a clear, objective and persuasive manner.

Duff & Phelps responds to client needs with an experienced team of testifiers and consultants who possess specialized knowledge that they leverage from resources throughout the firm. While technical expertise and rigorous analysis are expected from all Duff & Phelps professionals, a premium is also placed on clear and direct communication derived from decades of hands-on, real-world experience—witnesses who make intricate matters clear, credible and approachable.

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In a tax court decision that came out in late June, Judge Halpern addressed the valuation of a closely-held business and addressed over a dozen valuation-related issues in the case. Estate of Gallagher (“Petitioner”) v. Commissioner (“Respondent”) concerned a 15% stake in a private newspaper company. While both Petitioner and Respondent offered competing expert opinions on value, it was the Petitioner’s opinion that received the most criticism. However, the Court’s finding of value was ultimately closer to that offered by the Petitioner’s expert. A summary table at the end of this article highlights many of the issues and how the Judge ruled on each issue.

On March 4, 2011, the Financial Accounting Foundation (FAF), the parent organization of the Financial Accounting Standards Board (FASB), announced it is forming a working group based on early recommendations from the Blue-Ribbon Panel on private company accounting standards in the U.S.

The Delaware Court of Chancery is widely recognized as one of the nation's leading business courts in terms of volume of business related cases and as a result has developed significant case law in this area.

On June 12, 2010, the Illinois Department of Financial and Professional Regulation (IDFPR) released a statement temporarily reversing its prior position regarding the requirement for persons conducting computer forensic investigations to be licensed under the Illinois Private Detective, Private Alarm, Private Security and Locksmith Act of 2004.

In a unanimous opinion issued on June 17, 2010 the United States Supreme Court ruled that a search of text messages made from a government issued pager did not violate a government employee's Fourth Amendment right to privacy.

In this client alert, we discuss what Bilski v. Kappos (2010) means from a financial and valuation perspective.

Duff & Phelps’ Erik Laykin published in GovInfoSecurity.

On May 24, 2010 the Supreme Court declined to hear an appeal of the First Circuit Court of Appeals' decision in Textron, which held that a public company's tax accrual workpapers were subject to production under an Internal Revenue Service (IRS) administrative summons (United States v. Textron Inc., 104 AFTR 2d 2009-5208).

Peggy Daley, Co-chair of Duff & Phelps' Global Electronic Discovery and Investigations practice, authored a chapter for ABI's Commercial Fraud Manual titled Computer Forensics.

As an electronic discovery professional, you may be interested in the most recent announcement to address whether individuals who perform computer forensic examinations need to be licensed as private investigators.

Duff & Phelps managing director, Mark Gallagher and director, Kelly Caputo, discuss calculating damages arising from design patent infringement.

The frozen credit markets have prompted many debt issuers to explore debt exchanges in lieu of refinancings.

Among the list of problems created by the weakening credit markets is the failure of the ARS market. Duff & Phelps managing director, Adam Warren, examines the ARS situation including the impact and implications and possible solutions.


Duff & Phelps managing directors, Chris Bakewell and Bruce Dubinsky, discuss valuation of patents. This article reviews patent reform and some recent court cases and their bearing on patent infringement damages. 


Vol. I of the Expert and Legal Management Insights newsletter.


Vol. II of the Expert and Legal Management Insights newsletter.


Vol. III of the Expert and Legal Management Insights newsletter.


Vol. IV of the Expert and Legal Management Insights newsletter.


2010 First Quarter issue of the Expert and Legal Management Insights newsletter.


2010 Second Quarter issue of the Expert and Legal Management Insights newsletter.


2011 First Quarter issue of the Expert and Legal Management Insights newsletter.


2011 Second Quarter issue of the Expert and Legal Management Insights newsletter.

Keywords: Accounting Standards, Computer Forensic Investigations, Financial Accounting, Financial Accounting Standards, Forensic Investigations, Private Security, Professional Regulation, supreme court, Text Messages,

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A leading provider of global financial advisory and investment banking services, Duff & Phelps delivers trusted advice to clients, principally in the areas of valuation, transactions, financial restructuring, dispute and taxation. Trusted Advice in Investment Banking and Financial Advisory Services, Including Valuation, Transaction Advisory, Dispute, Legal Management, Restructuring, Tax Advisory.


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