Business valuation expert witness testimony
Valuation disputes arise in M&A earn-outs, dissenting shareholder actions, divorce and marital dissolution, and partnership exits. An accounting expert witness opines on standard of value, normalization adjustments, discount rates, and market method comparability, always tethered to the facts of the record.
Counsel benefits from experts who can defend assumptions under cross-examination and explain why a particular income approach or guideline public-company method fits the subject entity.
Related topics
| Phase | What We Do | Deliverable |
|---|---|---|
| 1. Scope & Standard of Value | Confirm legal question, date, and valuation premise | Valuation scope memo |
| 2. Financial Normalisation | Adjust historical earnings for non-recurring items | Normalised financial model |
| 3. Methods & Cross-checks | Apply income, market, and asset approaches as fit | Indication range & sensitivity |
| 4. Testimony | Defend assumptions, multiples, and discounts under oath | Expert valuation report |
Frequently asked questions
When should counsel retain a valuation expert?
When should counsel retain a valuation expert?
Early retention helps frame discovery on historical financials, management projections, and comparable transactions before positions harden on standard of value and normalization adjustments.
What is the difference between fair value and fair market value?
What is the difference between fair value and fair market value?
The operative standard depends on statute, contract, or governing documents. Experts must identify which standard applies and document why their methods fit that definition for the subject entity.
How do experts defend guideline company selections?
How do experts defend guideline company selections?
When guideline companies differ materially in growth, margin structure, geography, or size, experts should document comparability adjustments rather than relying on raw multiples alone.
What is the Daubert standard for valuation testimony?
What is the Daubert standard for valuation testimony?
Under Federal Rule of Evidence 702, opinions must be based on sufficient data, reliable methods, and proper application to the facts. Transparent bridges from source documents to outputs reduce exclusion risk.
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