Reynolds Holding

MAY 16, 2023

These high-profile cases have focused on companies with significant, known environmental and social risks. Summary of Task Force Actions to Date DESCRIPTION [2] Brazilian mining company Vale S.A’s Brumadinho dam, constructed to hold potentially toxic byproducts from the company’s mining operations, collapsed in January 2019.

Start-ups 45

Start-ups Compliance Finance Marketability 45

Harvard Corporate Governance

AUGUST 21, 2023

Many boards are asking management for a high-level training session—with third-party experts, as necessary—on generative AI and its potential benefits and risks. Board members also emphasize that director education is critical to help ensure that the board as a whole is up to speed on the topic. Lee is a Senior Advisor at KPMG LLP.

Compliance 189

Compliance Technology Start-ups Specific Risk 189

Brian DeChesare

NOVEMBER 16, 2022

FTX propped up the token’s value and claimed it was worth far more than it was, which fell apart as soon as Binance tried to sell its holdings. There are a few hedge funds with crypto holdings on FTX, such as Ikigai , but for most mid-sized-to-large funds, crypto assets are rounding errors. It raised over $1.8

Start-ups 52

Start-ups Banking Finance Technology 52

Appraiser Newsroom

JULY 9, 2023

Marina holds an MS in Mathematics in Finance from New York University, and a BS in Computational Mathematics from the City University of New York. He is also a nationally recognized presenter and author on these topics. Prior to joining PwC, Marina worked as an Associate Director at Fitch ratings. Church and Estate of Emily Klauss.

Intangible Assets 40

Intangible Assets Business Valuation Appraisal Finance 40

FE International

MARCH 23, 2022

Stories of wildly high revenue multiples for unicorn SaaS businesses can seem at odds with the modest earnings multiples for smaller SaaS businesses, which serves to confuse the information in the marketplace. While in many situations this is necessary, from a valuation perspective it will hold the business back. Channel Competition.

EBITDA 105

EBITDA Start-ups Business Valuation Marketability 105

Musings on Markets

JULY 14, 2021

The second is that companies have used the SEC's restrictions on making projections to their advantage, to tell big stories about value, while holding back details. Apple’s prospectus from 1980 was considered long, running 73 pages, and Microsoft’s prospectus in 1986 was 69 pages long, with the appendices containing the financials.

Start-ups 52

Start-ups Marketability 52

Musings on Markets

JUNE 9, 2021

It may also be difficult for low-profile private companies to list directly, when investors are reluctant to invest based upon a prospectus, without someone else doing the due diligence (asking questions of management, checking the financials). There are two benefits that SPACs derive, as a consequence.

Start-ups 52

Start-ups Marketability Banking Corporate Finance 52

Musings on Markets

JANUARY 12, 2021

For a class to resonate and be remembered, it has to be more than a collection of topics, and with each of my classes there is a core narrative that animates and connects the class sessions. And as always, I invite you come along for the ride. What I teach. Don't get me wrong!

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Reynolds Holding

APRIL 28, 2022

So today’s topic is particularly apt. public markets provide many benefits, including disclosures and safeguards at the offering stage followed by periodic reporting, public trading venues that offer high degrees of liquidity, and an ecosystem of laws and regulations that provide investors with protections and remedies when needed.

Marketability 56

Marketability Equity Alpha Capital Structure 56

IVSC

OCTOBER 21, 2023

Germany, for example, established local expert committees (Gutachterausschüsse) to ensure real estate market transparency while maintaining a high degree of data protection. As for the valuation, this is a low-rise, low-density structure in a high-density CBD with historic significance and on leased land. taxpayer dollars.

Appraisal 246

Appraisal Marketability Technology Start-ups 246

Musings on Markets

SEPTEMBER 14, 2021

In the year since, I have heard from many on the topic, and while there are some who agreed with me on the internal inconsistencies in its arguments, there were quite a few who disagreed with me. If you expand these factors to include other social and religious issues, I would wager that the differences will only widen.

Start-ups 99

Start-ups Marketability Firm Value 99

Chris Mercer

FEBRUARY 14, 2024

Mercer’s Musings #1 addressed the topic of compliance with USPAP and the Internal Revenue Service. This musing is addressed to all appraisers, regardless of which valuation credential(s) they hold. This musing is addressed to all appraisers, regardless of which valuation credential(s) they hold.

Marketability 52

Marketability Dividends Appraisal Business Valuation 52

Musings on Markets

FEBRUARY 10, 2021

In this post, I will start by looking at the role that hurdle rates play in running a business, with the consequences of setting them too high or too low, and then look at the fundamentals that should cause hurdle rates to vary across companies. The first is the business that the investment is in, and the risk profile of that business.

Risk-free Rate 52

Risk-free Rate Risk Premium Start-ups Equity 52

Musings on Markets

NOVEMBER 4, 2022

In the third and final post, I will argue that Facebook's troubles with the market have as much to do with a failure of narrative, as they are about disappointing numbers, and present a template for what the company needs to do, to reclaim the high ground.

Start-ups 98

Start-ups Market Capitalization Marketability Dividends 98

Musings on Markets

JANUARY 29, 2021

The story resonates because it has all of the elements of a David versus Goliath battle, and given the low esteem that many hold Wall Street in, it has led to sideline cheerleading. but in the process, driven some of the hedge funds that have sold short on these companies to edge of oblivion.

Start-ups 52

Start-ups Marketability Banking Finance 52

Brian DeChesare

JULY 19, 2023

When you hear the term “long-only hedge funds,” your first thought might be: “How can a hedge fund hold only long positions? Why would investors pay high fees for what is effectively a mutual fund?” Turnover is also high, especially at the large multi-managers. Doesn’t that contradict the term ‘hedge fund’?

Equity 52

Equity Beta Banking Start-ups 52

Musings on Markets

SEPTEMBER 11, 2023

Personalities became bigger than music labels : The advent of social media has allowed the highest profile performers to break free of most of the intermediaries in the music business. A business that has always been top heavy in terms of rewarding success, has become even more so. When you are Beyonce, and you have 15.3

Start-ups 77

Start-ups Market Capitalization Marketability Technology 77

Reynolds Holding

MARCH 6, 2023

As with any business decision, private companies balance the benefits of being a public company – including liquidity for their shareholders, a potentially higher profile, and the ability to issue publicly-traded stock as employee compensation and as currency for acquisitions – against the costs of being a public company. at table 15. [8]

Compliance 45

Compliance Marketability Start-ups Banking 45

Reynolds Holding

JANUARY 22, 2024

3] As a result, issuers faced uncertainty in determining whether a sale of securities did not involve “any public offering” and in applying case law on the topic, including the Supreme Court’s decision in SEC v. This speech is the third in my initial trilogy of thoughts regarding topics in the CorpFin space. Ralston Purina Co. [4]

Start-ups 45

Start-ups Marketability Price to Earnings Finance 45

Reynolds Holding

OCTOBER 5, 2022

The district court dismissed the action for lack of subject-matter jurisdiction, holding that the Exchange Act implicitly strips district courts of jurisdiction to hear challenges—including structural constitutional claims like the Respondent’s—to ongoing SEC enforcement proceedings. The Fifth Circuit panel affirmed. at *2–3, *46, *50.

Start-ups 72

Start-ups Marketability Equity Compliance 72

Reynolds Holding

JULY 5, 2022

Viking River marks the Court’s latest rejection of an attempt to shelter collective claims from the effects of an arbitration agreement — see our prior memos on the topic — and is unlikely to be the last. As such, California’s indivisibility rule was preempted by the FAA. Tellingly, neither of these decisions even mentioned Chevron.

Compliance 45

Compliance 45

Reynolds Holding

JULY 16, 2023

In an opinion authored by Justice Alito in Groff , the Court rejected this longstanding interpretation, holding that employers must now show that the accommodation would “result in substantial increased costs in relation to the conduct of [the employer’s] business.”

Banking 40

Banking Equity Technology Marketability 40

Reynolds Holding

MARCH 27, 2023

Conversely, “Retail Trade” filings increased from 4% to 9%, the high watermark in recent years. In a recent case, the Delaware Court of Chancery once again reaffirmed that plaintiffs must clear a high bar to adequately plead Caremark claims. Figure 2: 2. In re MultiPlan. ,

Technology 59

Technology Start-ups Compliance Finance 59

Reynolds Holding

FEBRUARY 1, 2023

In parallel, digital assets and cryptocurrencies in particular experienced a difficult environment characterised by plummeting prices and the headline-grabbing collapses of major crypto exchanges/intermediaries, including Voyager Digital Holdings, Inc., Conversely, the high valuation of the U.S. Toronto Dominion’s $13.4

Finance 45

Finance Equity Technology Banking 45

Reynolds Holding

MAY 25, 2022

Jan 12, 2015) (holding that violations of Section 303 may permit plaintiffs to bring claims for violations of Section 10(b) and Rule 10b-5). The SEC’s Division of Corporate Finance first issued Guidance Topic No. The SEC staff provided a detailed list of Covid-related topics for issuers to consider in drafting subsequent disclosures.

Compliance 53

Compliance Start-ups Marketability Corporate Finance 53

Reynolds Holding

MAY 1, 2023

Over the past several years, the use of non-disclosure agreements (“NDAs”) has received significant public scrutiny following their controversial use in a number of high profile harassment claims. [1] ENDNOTES [1] See for example the claims of harassment involving Harvey Weinstein , Phillip Green and the 2018 President’s Club Dinner.

Compliance 49

Compliance Banking Marketability 49

Value Scope

SEPTEMBER 24, 2020

Today, ESG is not only a dominant topic of discussion across the American business and investment community, it is driving business decisions, impacting corporate structures and organizational charts and it is having a profound impact on investment decisions. What does this really mean? Management of the Legal & Regulatory Environment.

Intangible Assets 130

Intangible Assets Alpha Beta Marketability 130