& LITIGATION SUPPORT
& LITIGATION SUPPORT
We advise clients involved in litigation, internal investigations, and other disputes.
Disputes arise frequently in business, resulting from a seemingly infinite range of factors. The business environment is complex, and there are commonly numerous factors simultaneously impacting business performance. As a result, it is often difficult to pinpoint the root cause for an existing business issue.
Our services range from pre-litigation internal investigations and early case assessment all the way through trial. We work closely with lawyers and their clients to help them identify the strengths and weaknesses in their case, along with the financial upside and potential exposure, in determining how to proceed with litigation strategy. We are skilled at evaluating the financial aspects of complex business disputes, and clearly expressing our opinions in educating clients, judges, and juries on what happened and why – both credibly and convincingly.
Areas of expertise include:
- Economic damages/lost profits
- Fraud investigations and fraudulent transfers
- IP litigation
- M&A and purchase price disputes
- Breach of contract
- Complex financial and data analysis
- Valuation issues
- Trade secret litigation
- Accounting reconstructions
- Business interruption claims
- Breach of contract claims
- Cost accounting
- Ponzi schemes
We have performed hundreds of valuation assignments across multiple contexts, including financial reporting, mergers and acquisitions, buy-sell transactions, in bankruptcy proceedings and in litigation, and for strategic and exploratory assignments. Our clients include both public and private companies, private equity and other investors, bankers, attorneys, and individuals, across a wide range of industries.
While the math behind a business valuation can be fairly simple, the consideration and judgment that goes into one should be anything but. Solely relying on earnings multiples and other rules of thumb can result in a valuation conclusion that is off by an order of magnitude. While it is critical to understand the industry and economic environment in which a company operates, it is more important to understand the specific business that is being valued – particularly in distinguishing between what makes it comparable to other market participants and what makes it unique.
Valuation practice areas include:
- Transactions (buy/sell agreements, mergers and acquisitions)
- Financial reporting
- Complex financial instruments (convertible notes,
warrants, performance shares, etc.)
- Taxation (Estate and gift tax, charitable donations)
- Other strategic planning and decision support (financial
modeling, cost studies, competitive and industry analysis, etc.)
- Bankruptcy and litigation valuation services
We assist both buyers and sellers in evaluating the financial upside and the risks to investing in or preparing to sell a business.
The due diligence process includes detailed reviews of companies’ financial statements, operations, and discussions with management to identify key value drivers, discretionary costs or other non-recurring items, accounting adjustments, and other considerations in determining quality of earnings.
Buy-side due diligence is a critical process for investors to better understand the financial risks to a potential acquisition, including potential price adjustments, stumbling blocks or deal breakers, and other areas for further investigation. The due diligence process is an equally worthy endeavor for sellers, as it can help them to identify and address in advance the same types of issues that buyers look for, which will help business owners to preserve and even enhance value, and get the house in order, prior to negotiating with potential suitors.
We apply a top-down approach in evaluating businesses, starting with understanding the business model along with industry considerations and competitive landscape, followed by intensive analysis and follow-up with management in the areas that matter. Our expertise in litigation matters, which often involves combing through the aftermath of deal gone bad, combined with our valuation and auditing experience, give us a unique perspective in the due diligence process that other more traditional service providers can’t offer.