18
Apr
Financial Advisory, Valuation

Houlihan Capital & Fairness Opinions

Studies have shown shareholders are challenging more and more Merger & Acquisition deals. “Currently, over 90% of M&A deals over $100 million are challenged by shareholders,” writes Vice Chancellor Donald Parsons Jr. (Delaware Court of Chancery) and attorney Jason Tyler (Sullivan & Cromwell) in a new paper (1). Any dissenting…
Read More
09
Apr
Valuation

SEC Enforcement Action Against Hedge Fund Manager

On March 22, 2013, the Securities and Exchange Commission (“SEC”) announced charges against Houstonbased hedge fund manager, George R. Jarkesy Jr., and his firm, John Thomas Capital Management (“JTCM”). Jarkesy has been accused of defrauding investors in two hedge funds by inflating the value of the funds’ assets and charging…
Read More
28
Mar
Valuation

SEC Enforcement action against Oppenheimer Co.

On March 11, 2013, the Securities and Exchange Commission (“SEC”) announced that Oppenheimer Asset Management, Inc. and Oppenheimer Alternative Investment Management, LLC (“Oppenheimer”) have agreed to pay approximately $3.0 million to settle allegations that Oppenheimer misled investors about the valuation policies and performance of a private equity fund-of-funds. The SEC…
Read More
13
Mar
Valuation

SEC Steps Up Hedge Fund and Private Equity Enforcement

It is becoming increasingly clear that the United States Securities and Exchange Commission (“SEC”) is accelerating its investigative efforts in the hedge fund and private equity space. During early 2010, the SEC created five new special investigative units, including the Asset Management Unit (“AMU”). The AMU was established to seek…
Read More