,
Acknowledgments
This book has been written by three active business valuation practitioners who each have at least 25 years of experience in the business valuation profession. However, this book would not have been possible were it not for the unstinting efforts of many others. First and foremost are Noah J. Gordon, of Shannon Pratt Valuations, and Christina Giorgio and Ernest Stalzer, CPA/ABV/CFF, MBA, CDFA, both of WithumSmith+Brown, who performed a significant amount of work on this book. Ottaviana De Ruvo and Holden Warriner, also both of WithumSmith+Brown, provided research services.
This book has benefited immensely from review by many individuals with a high level of knowledge and experience in business valuation. The following people reviewed most or all of the entire manuscript, and the book reflects their tremendous efforts and legion of constructive suggestions:
Stephen J. Bravo, CPA/ABV, ASA, CBA, CFP, PFS
Apogee Business Valuations, Inc.
Framingham, Massachusetts
James R. Hitchner, CPA/ABV, ASA
The Financial Valuation Group
Atlanta, Georgia
Kenneth J. Pia, Jr., CPA/ABV, ASA, MCBA
Meyers Harrison & Pia, LLC
Ronald Seigneur, CPA/ABV/CFF, ASA, CVA, CGMA
Seigneur, Gustafson, Knight, LLP
Lakewood, Colorado
Gary R. Trugman, CPA/ABV, MCBA, ASA, MVS
Trugman Valuation Associates
Plantation, Florida
New Haven, Connecticut
In addition, this book covers a number of specific topics and covers areas where business valuation and law intersect. The following people reviewed certain chapters and provided significant constructive suggestions:
Chapter 1 Common Standards and Premises of Value
Frank A. Louis, Esq.
Louis and Judge, PC
Toms River, New Jersey
Gilbert E. Matthews, CFA
Sutter Securities
San Francisco, California
Michelle Patterson, Esq.
Consultant to Sutter Securities
San Francisco, California
Chapter 2 Fair Market Value in Estate and Gift Tax
Roger J. Grabowski, ASA
Duff & Phelps, LLC
Chicago, Illinois
Frank A. Louis, Esq.
Louis and Judge, PC
Toms River, New Jersey
Chapter 3 Fair Value in Shareholder Dissent and Oppression
Kyle S. Garcia, CPA/ABV, ASA, CFA
Financial Research Associates
Edison, New Jersey
Roger J. Grabowski, FASA
Duff & Phelps, LLC
Chicago, Illinois
Lawrence A. Hamermesh, Esq.
Ruby R. Vale Professor of Corporate and Business Law
Widener University School of Law
Wilmington, Delaware
Mark Lee, CFA, ASA
EisnerAmper
New York, New York
Peter G. Verniero, Esq.
Former Justice, New Jersey Supreme Court
Sills Cummis & Gross, PC
Newark, New Jersey
Michael L. Wachter
William B. and Mary Barb Johnson Professor of Law and Economics
University of Pennsylvania Law School
Philadelphia, Pennsylvania
Chapter 4 Standards of Value for Partnership and Limited Liability Company Buyouts
Peter G. Verniero, Esq.
Former Justice, New Jersey Supreme Court
Sills Cummis & Gross, PC
Newark, New Jersey
Chapter 5 Standards of Value in Divorce
Kyle S. Garcia, CPA/ABV, ASA, CFA
Financial Research Associates
Edison, New Jersey
John Johnson, CPA/ABV, CBA, CFF, DABFA
BST Valuation and Litigation Advisors, LLC
Albany, New York
John A. Kornfeld, Esq.
Aronson Mayefsky & Sloan, LLP
New York, New York
Frank A. Louis, Esq.
Louis and Judge, PC
Toms River, New Jersey
Adam John Wolff, Esq.
Kasowitz Benson Torres & Friedman LLP
New York, New York
Judge Thomas Zampino, JSC (Ret.)
Snyder & Sarno LLC
Roseland, New Jersey
Chapter 6 Fair Value in Financial Reporting
Kyle S. Garcia, CPA/ABV, ASA, CFA
Financial Research Associates
Edison, New Jersey
John Johnson, CPA/ABV, CBA, CFF, DABFA
BST Valuation & Litigation Advisors, LLC
Albany, New York
For permission to reprint material from his works, we thank Michael Mard of the Financial Valuation Group for the information on subsequent events. We greatly appreciate the enthusiastic cooperation of the professionals at John Wiley & Sons: John DeRemigis, executive editor, and Judy Howarth, associate editor. We would also like to thank Gil Matthews and Michelle Patterson for substantially rewriting Chapter 3, Noah J. Gordon for coauthoring our new Chapter 4, and Neil Beaton for significantly rewriting Chapter 6.
We also would like to thank our colleagues and families for the support they gave us over the time this book was written.
Jay E. Fishman
Bala Cynwyd, Pennsylvania
Shannon P. Pratt
Portland, Oregon
William J. Morrison
Paramus, New Jersey
