Thu.Jan 19, 2023

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Susan DuRoss to lead the IVSC Standards Review Board

IVSC

IVSC is pleased to announce that Susan DuRoss has been appointed the new Chair of the Standards Review Board (“SRB”). Susan will take up the role in March 2023 and takes over from Mark Zyla who has led the board since 2017. Susan is Executive Director, Global Valuations, at Harvest Investments and has been a member of the SRB since October 2018. She will oversee the work of the Board for an initial three-year term.

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Climate Risk Factors Soar at Largest Public Companies

Harvard Corporate Governance

Posted by Dean Kingsley, Matt Solomon, Deloitte & Touche LLP, and Kristen Jaconi (USC Marshall), on Thursday, January 19, 2023 Editor's Note: Dean Kingsley is a Principal and Matt Solomon is a Senior Manager at Deloitte & Touche LLP. Kristen Jaconi is an Associate Professor of the Practice in Accounting and Executive Director at Peter Arkley Institute for Risk Management at the USC Marshall School of Business.

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What is generative AI?

Mckinsey and Company

Generative artificial intelligence (AI) describes algorithms (such as ChatGPT) that can be used to create new content, including audio, code, images, text, simulations, and videos. Recent new breakthroughs in the field have the potential to drastically change the way we approach content creation.

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Trends in Forum Selection Provisions, Merger Objection Class Actions and SPACs Continue To Shape Securities Litigation

Harvard Corporate Governance

Posted by Virginia Milstead, William J. O'Brien III, Skadden, Arps, Slate, Meagher & Flom LLP, on Thursday, January 19, 2023 Editor's Note: Virginia Milstead is a Partner, and William J. O’Brien III is Counsel at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum. Key Points State courts are enforcing federal forum provisions for cases under the Securities Act, encouraging companies to amend their charters or bylaws to add these clauses.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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European private banking: Resilient models for uncertain times

Mckinsey and Company

After one of its most successful years, Europe’s private banking industry will now need to navigate an uncertain macroeconomic outlook and evolving client needs.

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Live Ventures Acquires Flooring Liquidators For $84M; Hopes Deal To Increase Revenue By 50%

Benzinga

Live Ventures Inc (NASDAQ: LIVE ) has acquired the outstanding equity interests of Flooring Liquidators Inc , in a transaction valued at approximately $84 million. Founded by Steve Kellogg in 1997, Modesto, California-based Flooring Liquidators provides floor, cabinets, countertops, and installation services in California and Nevada, operating 20 warehouse-format stores and a design center.

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More Trending

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Nass Valley Gardens To Acquire CBD Company Super Scientific Laboratories

Benzinga

Nass Valley Gardens Inc. , a Nevada registered C-Corp and a wholly owned subsidiary of Nass Valley Gateway Ltd. , (OTCPK:NSVGF) (CSE:NVG) (FSE: 3NVN), signed a definitive agreement on 12/31/2022 to purchase 100% of Super Scientific Laboratories LLC , a manufacturer of products focused on CBD, cannabidiols, vapes, gummies , soaps, lotions and other consumer products.

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All This Will Do is CREATE BIAS!

Appraisers Blog

All this will do is CREATE BIAS… How does one stay unbiased if they repeatedly get sued or raked over the coals every time they do an honest, true appraisal that does not meet the expectation of untrained members of the general public… Does bias exist? Of course. Does it exist in appraising? Rarely, if ever. Not one of the publicly aired cases has shown any verifiable facts or data to prove their claims.

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CoinDesk Ropes In Lazard Advisors To Weigh Sale: Report

Benzinga

Coinbase Global, Inc (NASDAQ: COIN ) reportedly hired Lazard, Ltd (NYSE: LAZ ) advisors as it explored a potential sale that would remove it from Barry Silbert's Digital Currency Group (DCG). CEO Kevin Worth's email acknowledged receiving numerous inbound indications of interest in CoinDesk, CNBC reports. Worth said Lazard would help CoinDesk explore various options to attract growth capital to the CoinDesk business, which may include a partial or complete sale.

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Author Talks: A food-loving economist crafts a recipe for humane capitalism

Mckinsey and Company

Using the history of common foods and goods, Ha-Joon Chang explains the economics of industrial policy and the relationship between freedom and capitalism.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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A Texas-Sized Fraud: Bookkeeper Embezzles $29M from Texas Family

Gross Mendelsohn

Barbara Chalmers, 74, pleaded guilty in December 2022 to an embezzlement scheme of at least $29 million over the past decade. Ms. Chalmers was the bookkeeper for a charitable foundation and multiple companies run by the family of Jim Collins, a prominent Dallas businessman and former congressman. The family operates Collins American Capital Corp., International Family Investors LTD and the James M.

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Hagens Berman Atty Accuses Quinn Emanuel Of Gender Bias

Law 360 M&A

A Hagens Berman Sobol Shapiro attorney representing Facebook users in an antitrust suit against the social media giant told a California federal judge Thursday that her co-lead attorneys from Quinn Emanuel Urquhart & Sullivan gave her views less weight "because of my gender," prompting a Quinn Emanuel lawyer to strongly deny the claim.

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Structuring the Acquisition of an S Corporation

National Law Review M&A

Ben Gruen Jurisdiction: All Federal Type of Law: Corporate & Business Organizations Mergers & Acquisitions Special highlight:

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Playtika Seeks To Buy 'Angry Birds' Maker For Nearly $739M

Law 360 M&A

Israeli mobile gaming entertainment and technology company Playtika Holding Corp. announced Thursday that it has offered to buy the Angry Birds franchise owner and video game developer Rovio for €683 million ($738.7 million) in an all-cash deal.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Internal Audit and ESG: My Opinion

Norman Marks

I have seen several articles and blog posts lamenting the apparent fact that internal audit teams are not spending a large percentage of their audit plan addressing ESG risks. CIO.

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DC Circ. Asks About Impact Of Wash. State Albertsons Case

Law 360 M&A

The D.C. Circuit has asked state-level enforcers looking to stop Albertsons Cos. Inc. from paying a $4 billion dividend ahead of its planned merger with Kroger Co. what the impact will be of a ruling from Washington state's Supreme Court this week removing a temporary block on the payment.

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How to increase the value of tax data collection

ThomsonReuters

Leveraging a powerful workflow engine can deliver the intelligent tax automation , control improvement, and greater visibility tax teams need to make more strategic decisions, mitigate risk, and successfully orchestrate the entire direct tax process. The current state of tax data collection Unfortunately, too many professionals are wasting their time during the busy tax season, spending as much as 80 percent of their work hours collecting and entering information, verifying its accuracy, and con

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Telecom-Focused SPAC Hangs Up Plans For $300M IPO

Law 360 M&A

Special-purpose acquisition company 5G Edge Acquisition Corp., which had planned to acquire a technology, media or telecommunications business, on Thursday withdrew a filing for a $300 million initial public offering, marking the latest SPAC to decide against going public.

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DOL Issues 2023 Adjusted Penalty Amounts

ThomsonReuters

Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2023, 29 CFR Part 2575, 88 Fed. Reg. 2210 (Jan. 13, 2023) Available at [link] The DOL has announced the 2023 annual adjustments to the civil monetary penalties for a wide range of benefit-related violations. As background, legislation enacted in 2015 requires annual adjustments to certain penalty amounts by January 15 of each year (see our Checkpoint article ).

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Value Drivers for a Dry Cleaning Business

Peak Business Valuation

The dry cleaning industry suffered greatly during the pandemic. While the economy has recovered, this industry is not expected to heal completely. Due to cheaper dry cleaning alternatives and businesses resorting to casual attire, a decline in the industry will likely occur. In addition, the dry cleaning industry is very fragmented and competitive. About 70% of dry cleaners are operating as small businesses.

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IRS Opens ACA Information Returns (AIR) System for 2023 Electronic Filings

ThomsonReuters

Affordable Care Act Information Returns (AIR) Operational Status; Affordable Care Act Information Returns (AIR) Production Shutdown/Cutover Schedule (Jan. 10, 2023) IRS webpage Announcement The IRS has announced the production schedule for filing Affordable Care Act (ACA) 2022 information returns electronically through the ACA Information Returns (AIR) System, with the 2023 filing season beginning on January 13, 2023.

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Dough Deal Unwound To Protect UK Grocers, Consumers

Law 360 M&A

The Competition and Markets Authority said on Friday that it will force Cérélia to sell its Jus-Rol brand, which it bought from General Mills, in a move to protect retailers and shoppers from paying higher prices for pizza and pâtisserie dough.

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5 Ways Entrepreneurs Can Grow Their Small Business

Financial Analyst Insider

Many entrepreneurs start businesses with the expectation that they can quickly begin to produce money, only to learn that doing so is much more complex The post 5 Ways Entrepreneurs Can Grow Their Small Business appeared first on Financial Analyst Insider.

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Exterro Acquires Zapproved, Delays Potential IPO Again

Law 360 M&A

Oregon-based legal governance, risk and compliance software provider Exterro Inc. is expanding its capabilities through its acquisition of e-discovery provider Zapproved LLC Thursday.

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Identity and Access Management Market Size Worth USD 34.52 Billion by 2028 | Report by Fortune Business Insights

Benzinga

Pune, India, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The global identity and access management market size stood at USD 12.26 billion in 2020. It is projected to rise from USD 13.41 Billion in 2021 to USD 34.52 Billion by 2028 at 14.5% CAGR during the forecast period. Fortune Business Insights™ has published this information in latest research titled, "Identity and Access Management Market Forecast, 2023-2028.

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Deal Talks Between Kushner, Veris Sour

Law 360 M&A

After repeated offers, discussions of the Kushner Cos.' potential acquisition of competitor Veris Residential Inc. appeared to come to a standstill this week, with the rival real estate companies releasing conflicting characterizations of their attempt to negotiate.

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Server Operating System Market Size Worth USD 227.77 Billion by 2029 | Report by Fortune Business Insights

Benzinga

Pune, India, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The global server operating system market size was valued at USD 92.74 billion in 2021. The market is projected to grow from USD 100.89 billion in 2022 to USD 227.77 billion by 2029, exhibiting a CAGR of 12.3% during the forecast period. This information is presented by Fortune Business Insights, in its report titled, "Server Operating System Market Forecast, 2023-2029.

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Former Jones Day M&A Practice Leader Joins Davis Polk

Law 360 M&A

The former leader of Jones Day's mergers and acquisitions practice is joining Davis Polk & Wardwell LLP as a partner in its mergers and acquisitions group in New York, Davis Polk has confirmed.

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Stallion Discoveries Closes Hathor and U92 Acquisitions

Benzinga

VANCOUVER, British Columbia, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Stallion Discoveries Corp. (the "Company" or "Stallion") (TSXV: STUD , OTCQB: SLLGF ) is pleased to announce that, further to its news releases dated January 6 and January 12, 2023, it has closed the acquisition of all outstanding shares, representing a 100% interest, in Hathor Exploration Ltd. ("Hathor") and U92 Exploration Limited. ("U92").

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Requirements for Form 1099-NEC Filers

LaPorte

The Louisiana Department of Revenue (LDR) issued information for all business that are required to file with the IRS, for the tax year 2022, Forms… The post Requirements for Form 1099-NEC Filers first appeared on LaPorte.

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India-Based Sun Pharma Scoops Up Concert Pharmaceuticals For $576M Plus Milestones

Benzinga

Sun Pharmaceutical Industries Limited, India's top pharmaceutical company, has agreed to acquire Concert Pharmaceuticals Inc (NASDAQ: CNCE ) for an upfront payment of $8.00 per share, or $576 million in equity value. Concert stockholders will also receive a non-tradeable contingent value right (CVR) entitling holders to receive up to an additional $3.50 per share in cash, payable upon deuruxolitinib.

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Interim Guidance on Stock Buyback Excise Tax Confirms Broad Application to M&A and Capital Market Transactions

Cooley M&A

The Inflation Reduction Act imposes a 1% excise tax on certain repurchases of stock of publicly traded US corporations (“Covered Corporations”) effected after December 31, 2022 (the “Excise Tax”). [1] On December 27, 2022, the Department of the Treasury (“Treasury”) and the IRS issued Notice 2023-2 (the “Notice”), providing interim guidance on the Excise Tax.

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Shoreline Biosciences Acquires Editas' iNK Cell Franchise, Related Gene Editing Technologies

Benzinga

Editas Medicine Inc (NASDAQ: EDIT ) has agreed to license its proprietary SLEEK (SeLection by Essential-gene Exon Knock-in) and AsCas12a gene editing technologies to Shoreline Biosciences. Shoreline will also acquire Editas Medicine's preclinical gene-edited induced pluripotent stem cell (iPSC) derived natural killer cell (iNK) programs and manufacturing technologies.

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What Are Prescription Drug and Health Care Spending Reports and When Are They Due?

ThomsonReuters

QUESTION: We’ve heard that the requirement to report prescription drug and health care spending to the government has been delayed. What are the reporting requirements and when are the reports due? ANSWER: Legislation passed in 2020 requires group health plans and insurers to annually report prescription drug and health care spending, premiums, and enrollment information to the government (see our Checkpoint article ).