KW Economics prepares rebuttal analysis for partnership and shareholder dispute cases venued in Montana: what the loss claim consists of, the records that drive it, and a present value built to Montana damages rules and venues. Plaintiff and defense.
A valuation report in an owner dispute is tested on the valuation date, the standard of value, the normalizing adjustments, the approaches applied and how they were reconciled, and any discounts or premiums. The economist checks whether the standard matches the claim and the agreement, whether owner compensation and related-party dealings were normalized on market evidence, whether the discount rate and market multiples are supported by their sources, and whether a minority or marketability discount is appropriate under the standard applied. The review quantifies the effect of each correction and shows the value under the alternative standard where the choice is disputed.
Critique of an opposing economic damages, valuation, or forensic accounting report for plaintiff or defense counsel. The review tests the assumptions, data sources, discount rates, worklife and life expectancy inputs, growth rates, mitigation treatment, and arithmetic behind the opposing number, identifies the errors that matter, and quantifies how the conclusion changes when they are corrected. The result supports cross-examination, a rebuttal report, or a motion directed at the reliability of the opinion.
The valuation date and the standard of value control the result: a fair value standard may exclude the minority and marketability discounts that a fair market value standard applies, and the gap between the two can be substantial for a minority interest in a closely held company. Normalizing adjustments to owner compensation and related-party dealings often decide whether the business shows earnings to value at all. Where the claim includes diverted profits, the amount depends on how far back the records permit reconstruction and on whether the business's actual results can be separated from market conditions.
Montana courts apply a reliability inquiry to novel scientific evidence and otherwise ask whether the economist is qualified by training and experience and whether the opinion will help the fact finder, leaving the weight of the testimony to cross-examination. An economic damages report is therefore examined on its inputs: whether each rate, table, and assumption traces to the record and to a published source.
Highest court: Montana Supreme Court. Court system: courts.mt.gov.
Federal venues: District of Montana.
Montana reduces a negligence-based award by the plaintiff's share of fault and bars recovery once that share exceeds the combined fault of the defendants. Prejudgment interest is generally limited to sums that were certain when the loss occurred, which favors a liquidated contract balance over a projected loss. Economic damages are not subject to a general statutory limit outside specific statutory claims, and the report identifies the components that were certain when they accrued and states the projected components as of a fixed date.
We issue a rebuttal report where one is disclosed and provide deposition and trial testimony, cross-examination outlines, and support for motions directed at the opinion.
A valuation report in an owner dispute is tested on the valuation date, the standard of value, the normalizing adjustments, the approaches applied and how they were reconciled, and any discounts or premiums. The economist checks whether the standard matches the claim and the agreement, whether owner compensation and related-party dealings were normalized on market evidence, whether the discount rate and market multiples are supported by their sources, and whether a minority or marketability discount is appropriate under the standard applied. The review quantifies the effect of each correction and shows the value under the alternative standard where the choice is disputed.
Montana courts apply a reliability inquiry to novel scientific evidence and otherwise ask whether the economist is qualified by training and experience and whether the opinion will help the fact finder, leaving the weight of the testimony to cross-examination. An economic damages report is therefore examined on its inputs: whether each rate, table, and assumption traces to the record and to a published source. Partnership and Shareholder Dispute cases venued in Montana are heard in the District Court (General jurisdiction; one district in each of 56 counties), with final appeals to the Montana Supreme Court. Matters within federal jurisdiction proceed in the District of Montana.
Montana reduces a negligence-based award by the plaintiff's share of fault and bars recovery once that share exceeds the combined fault of the defendants. Prejudgment interest is generally limited to sums that were certain when the loss occurred, which favors a liquidated contract balance over a projected loss. Economic damages are not subject to a general statutory limit outside specific statutory claims, and the report identifies the components that were certain when they accrued and states the projected components as of a fixed date. The report presents past and future amounts separately, states every rate and table with its source, and shows the result under the alternatives the other side is likely to argue, so counsel can apply the Montana rules to a documented figure.
Request a consultation on Rebuttal or call (201) 343-0700. Plaintiff and defense counsel.