Carrie Distler’s Post

In shareholder litigation, a frequent issue is whether, under state law, valuation discounts are permissible in determining the value of a minority shareholder’s interest. This fantastic article in the National Association of Certified Valuators and Analysts (NACVA)'s "The Value Examiner" discusses a 2022 Connecticut court case dealing with this subject. Congratulations to the authors, Danny Pannese, Benoit Boyer, and Paul Iannone! https://ow.ly/emjo50PYKSG

Join John today, Monday at 12:00 pm EST for another Live Session of the Trust Crash Course. It is free and you can get answers to any questions you may have about the trust or if you are already a student you are welcome to join in on the conversation. https://lnkd.in/gGbW88Mv #irrevocabletrust #privatewealthmanagement #501c3 #noincometaxes #commonlaw #trusts #assetprotection #taxfreetrust #businesstrust

"What are my odds of winning?" Whether clients expressly put this question to their lawyers or not, it is something that at least periodically invades their thoughts. Litigation is expensive. And it has a maddening lottery feature. Clients invest in a case, with money and/or time, upfront. They then wait to see whether and how much they might win later. Litigation is also not a science. Unlike science, the same inputs do not reliably produce the same outputs. The same case tried 10 times might result in each side winning 5 times. While no lawyer can offer a prediction with certainty as to the odds of winning, there are a few guideposts that influence the analysis: 1) If the case is based on textual sources, such as statutes or contracts, does the text seem to indicate a clear winner? 2) Do the equities favor one side or the other? Which side "should" win based on principles of fairness? 3) Who is the judge? 4) What is the venue? State or federal court? Is it friendlier to plaintiffs or defendants? Do the facts support a change of venue? 5) Who are the parties? Is it David v. Goliath? 6) Who are the critical witnesses for each side? With all this in mind, I would estimate that even the very best case where all the factors favor your side still only has an 85% chance of winning. The corollary is that the worst case still has a 15% chance of winning. This uncertainty often counsels in favor of settlement, but settlement is not always straightforward because parties have to find common ground on valuation of the case. Opinions on the odds of winning can diverge widely. And the same holds true regarding the amount truly in controversy. But if the parties can find common ground, settlement avoids enduring the 15% chance of losing even the best case.

Common fund orders are back - at the settlement stage of a class action - following a recent decision of the Full Federal Court which distinguishes the 2019 High Court decision in BMW v Brewster which had put an end to the making of CFOs at an early stage. Our thoughts regarding the implications of this decision are here: https://lnkd.in/g973mw4w With Jaime McKenzie, Alex Tolliday, Ben McLachlan and Rucha Ranade #classactions #litigationfunding

I spoke to Lawyerly about the class actions landscape (subscriber content): https://lnkd.in/gb4kZQzK Some of my thoughts about emerging trends: 1. Class actions will continue to diversify into new and emerging areas of risk. 2. Plaintiffs will closely monitor what regulators are doing and look for "springboard" claims. 3. Shareholder class actions will continue to be brought but with a sharper focus on viability. 4. There will be heightened competition for plaintiff-side roles. 5. Contingency fees will continue to disrupt traditional funding models. 6. Multiplicity/competing class actions will be increasingly difficult to justify. 7. Defendants will be rigorous and pursue appropriate cases to trial. 8. Class actions will become more global and Australia's regime will be a blueprint for other jurisdictions around the world.

👉Your ERISA Watch Case of the Week: Second Circuit Joins Other Circuits in Approving Effective Vindication Doctrine 💼Cedeno v. Sasson, No. 21-2891-cv, __ F.4th __, 2024 WL 1895053 (2d Cir. May. 1, 2024) (Before Circuit Judges Lohier, Menashi, and Robinson) The Federal Arbitration Act is famously broad and generally requires courts to treat arbitration agreements as “valid, irrevocable, and enforceable.” Courts have ruled that the FAA establishes a liberal federal policy favoring arbitration agreements. As a result, while litigants often try to find ways to evade the FAA, they are seldom successful. However, if you are a loyal reader of Your ERISA Watch, you know about the “effective vindication” doctrine. This doctrine was created by the Supreme Court as a possible exception to the FAA’s mandate. In a series of decisions, culminating in American Express Co. v. Italian Colors Restaurant (2013), the Supreme Court has repeatedly held that if an arbitration provision prevents a prospective litigant from vindicating a statutory right in arbitration, the litigant may be able to escape arbitration’s clutches. Read the full summary and catch up on other ERISA cases from across the nation: https://loom.ly/dFTkjKY #kantorkantorlaw #faa #court

🔍 Unlock the secrets of title policies! Join our webinar with Brock VandenBerg, President of TaliMar Financial, and Olivier J. Labarre, attorney from Wright Finlay & Zak, LLP. Gain insights into coverage, claim processes, and more. Register now:https://zurl.co/r14Y #TitlePolicies #WebinarLearning 📚

Today's #FMG blog explores the Supreme Court of the United States' (SCOTUS) June 27, 2024 decision related to a case wherein the Securities and Exchange Commission (#SEC) brought claims against defendants for purportedly defrauding investors. Click the link below to read the full story. https://lnkd.in/eK5k6FG4 FMG authors: Will Covino and Nancy Reimer   #FMGLaw #ProfessionalLiability #FinancialServices #Accounting #SCOTUS

🔍 Unlock the secrets of title policies! Join our webinar with Brock VandenBerg, President of TaliMar Financial, and Olivier J. Labarre, attorney from Wright Finlay & Zak, LLP. Gain insights into coverage, claim processes, and more. Register now:https://zurl.co/r14Y #TitlePolicies #WebinarLearning 📚