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Manufacturer’s Representative and Distributor (distribution)

• Estimated economic damages due to the misrepresentations and competitive actions of departing shareholder/executives.

• Testified at trial regarding the diminution of value of the business enterprise and the value of lost profits.

• The judgment was based on Gary's conclusion and testimony.

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Manufacturer of Medical and Dental Equipment

(medical devices & equipment)

• Established the fair market value of the shares of the company to assist in resolving a dispute between the controlling owners of the company and their departing CEO.

• By mutual agreement of the parties, the company repurchased the shares at fair market value.

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OB/GYN Physician Practice 

(healthcare services)

• Determined the fair market value of the professional corporation inclusive of the practice goodwill to resolve a dispute between two physician/shareholders after a sale of the practice.

• One physician departed the practice while the other signed an employment agreement with a local hospital with increased compensation.

• Gary testified to the fair market value of the practice and whether the increase in compensation was a disguised payment for the practice goodwill.

Manufacturer of Industrial Equipment  (commercial/industrial products & services)

• Established the fair market value of non-controlling interest as the independent third appraiser.

• The operating agreement called for a third appraiser to establish fair market value when the two parties' appraisers were more than 20% apart.

• Gary's conclusion of fair market value was binding on the parties.

Global Chemical Manufacturer  

(basic materials)

• Subsequent to acquiring a plant, a European chemical manufacturer claimed that the seller, a U.S. chemical manufacturer, overstated the value of its spare parts inventory.

• The acquirer provided an expert report estimating the fair market value of the spare parts to be significantly less than reported by the seller.

• Gary estimated the value of the spare parts, provided a rebuttal of the acquirer’s expert, and participated in the international arbitration in Europe to resolve the claims to the satisfaction of his client.

Metal Tank Construction Company (commercial/industrial products & services)

• A Private Equity Fund acquired a metal tank fabrication and construction company and subsequently determined that the company’s earnings were significantly overstated.

• Gary assessed the impact on the value of the earnings misstatement, prepared an expert report and was deposed.

• The claim was settled out of court in his client's favor before trial.

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Ambulatory Surgery Center

(healthcare services)

• Prepared an opinion of the fair market value of a non-controlling interest in a start-up surgery center acquired by his client, a hospital management company, as part of a larger transaction.

• Less than three months after the hospital provided its share of a capital contribution, the surgery center exercised its alleged right to re-acquire the hospital’s interest at fair market value based on a third-party expert’s opinion that the fair market value was zero.

• Gary prepared an expert report regarding the fair market value and was deposed before the surgery center accepted the hospital’s settlement offer.

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Retail Grocery Chain

(distribution)

• Established the fair market value of a non-controlling block of shares to assist the family-controlled company with acquiring an equity interest from its sole non-family shareholder.

• The opinion of fair market value and supporting report were used to establish a price and to support a family gifting program.

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Hospital Development/Management Company Going Private

(healthcare services)

• Two non-controlling shareholders dissented to the price accepted by a publicly-traded company that developed and managed specialty hospitals.

• The dissenting shareholders filed a claim alleging that the actual fair value per share was more than 50% higher than the price agreed upon.

• Gary assisted counsel by providing a rebuttal, an analysis of the fair value per share, and assistance with the deposition of the opposing expert.

• The case was settled after depositions within 2% of the price accepted by the Board of Directors. 

Health Insurance Provider

(financial institutions and insurance) 

• Prepared an analysis of the maximum limit of penalties that could be levied against an insurance provider and still maintain its solvency on behalf of the U.S. Attorney related to a qui tam action under the False Claims Act.

• The action was initiated by a whistleblower/relator who received a share of the penalties levied and objected that the penalty should be higher.

• Gary’s analysis and expert report were used by the U.S. Attorney to support the magnitude of penalties levied against the insurance company.   

Metals Recycling Company

(basic materials)

• Prepared an analysis, expert report, rebuttal report, and testimony regarding the solvency of the company at several dates corresponding to pre-bankruptcy transactions with the company's equity members including cash distributions and loans.

• Counsel representing the Bankruptcy Trustee engaged Gary as an expert to determine the solvency of the company to assess whether the transactions could be avoided as fraudulent conveyances and/or preferences.