Cornerstone Research provides and supports expert testimony in litigation matters involving business valuation, valuation of complex securities and specific interests, valuation of specific business assets, contract valuation and corporate restructurings.

Our staff and experts have in-depth expertise in valuation issues and applications, including discounted cash flow models, comparable company/comparable transaction methodologies, option pricing, and other advanced techniques. We approach valuation matters using sound finance and economics principles applied to the circumstances of each case.

Valuation Capabilities

Business Valuation: Corporate Transactions, Appraisals, and Entire Fairness Disputes

Cornerstone Research consults in matters involving business valuation for public or privately held companies. We have worked on matters related to mergers and acquisitions, initial public offerings, private placements, spin-offs, hostile-takeovers, financings and going-private transactions.

In these contexts, we have addressed valuation issues using discounted cash flow models, comparable company/comparable transaction methodologies, option pricing, and other advanced techniques. We carefully consider available market evidence, including the contemporaneous actions of market participants and trading data, as a check on our assumptions and conclusions. Cornerstone Research also has experience with valuation issues in the context of entire fairness disputes and appraisal matters in the Delaware Chancery Court and other venues.

Specific Business Assets: Intellectual Property, Financial Reporting, and Tax Valuations

Our consultants and experts have expertise in the valuation of goodwill and intellectual property. Combined with our expertise in securities, we provide our clients with practical approaches to the valuation of specific assets, including patents, trade secrets, product lines, operating divisions, and subsidiaries.

Solvency, Bankruptcy, and Corporate Restructurings

Cornerstone Research’s valuation expertise encompasses matters arising from corporate restructurings, such as reorganizations, bankruptcies, solvency and credit rating opinions, divestitures, and buyouts. We also have experience in assessing the impact of a fraudulent conveyance and market and policy factors on a firm’s value or ability to operate as a going concern.

Valuation of Complex Securities and Specific Interests

Cornerstone Research has expertise in the valuation of warrants, options, debt instruments, credit derivatives, and convertible and preferred securities. We have also evaluated specific interests such as minority shareholder stakes in both public and private firms.

Contract Valuation

Our consultants and experts have evaluated noncompete agreements, technology development agreements, joint venture agreements, and supply and purchase agreements using techniques such as Monte Carlo simulations.


Our valuation experience spans an array of industries, including financial services, healthcare and pharmaceuticals, energy and infrastructure, manufacturing, metals and mining, oil and gas, professional services, real estate and construction, and others.