Business Valuation Resources, LLC

Fairness Opinions in Today's Economy

Date: Thursday, July 15, 2010
10:00am-11:40am PT / 1:00pm-2:40pm ET

Earn 2 CPE credits

Register For:

Teleconference $99.00
On Demand Pack* $99.00
Teleconference and On Demand Pack* $149.00

*Please note: CPE credit is not available through On Demand Packs

Featuring (click image for more information):

Craig A. Jacobson
Citrin Cooperman & Company, LLP

Jeffrey Rothschild
McDermott Will & Emory

Why You Should Attend:

In 2006 BVR hosted expert appraiser Craig Jacobson in an in-depth review of fairness opinions. Since that presentation unprecedented changes have occurred through regulation, court case law, and – of course – the economy. On July 15 Jacobson will rejoin BVR with attorney Jeffrey Rothschild to cover how these changes affect fairness opinions. From changes to the processes of determining value to operating in the current regulatory and market environment, Jacobson and Rothschild will discuss how classic considerations and emerging trends affect you in this must-attend presentation.


The presentation will discuss:

  • Fairness opinion basics
    • Why fairness opinions are of interest to valuation professionals
    • Difference between valuation and a fairness opinions
    • Opportunities and needs for fairness opinion
    • Who requests a fairness opinion
    • Valuation analyses as performed for a fairness opinion
    • The work product related to a fairness opinion
  • Legal/regulatory issues
    • Fairness opinion engagement letters
    • Fiduciary duty
    • Case law update
    • Regulatory environment update
    • FINRA Rule 5150
    • Entire fairness standard
  • Valuation considerations
    • Importance of the standard of value
    • Consideration of synergies
    • Consideration of lower asset prices
    • Consideration of volatile securities markets
    • Consideration of precedent transactions
    • Required rate of return

Learning Objectives

  • Clarify the application of business valuation methods and techniques in preparation of fairness opinions
  • Learn how recent changes in the regulatory, economic, and legal environments have affected fairness opinions
  • Learn how and where valuation techniques and considerations diverge from fairness opinion preparation
  • Understand the importance of fairness opinions in transactions and regulation and what these mean for your work as a preparer

BVR's Teleconference Usage Policy

Purchase of admission to any of BVR's teleconferences grants ONE phone connection and ONE computer connection per physical location per registration. Additional unregistered phone or computer connections are a violation of BVR's Teleconference Usage Policy, and BVR reserves the right to withhold CPE credits from both registered and unregistered users in violation of this policy.

Group Discounts Available

For group discounts on Teleconferences contact Linda Mendenhall at or (503) 291-7963 ext. 125.

CPE Credits for Unlimited Listeners

Have as many eyes and ears take advantage of your registered connections as possible:CPE credit is available for an unlimited number of listeners to any registered line.

To add listeners for CPE credit, contact customer service ( or (503) 291-7963) with main registrant's name, the names of the persons to receive credit, and their email addresses. We welcome as many eyes and ears to take advantage of those connections as possible.

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group-Live
Recommended CPE: 2 Credit Hours (Consulting Services)

Business Valuation Resources, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.
NASBA Sponsor

On Demand Packs: Conference Recordings & Transcripts

BVR's On Demand Packs are an indispensable addition to any valuation reference library. Use them as training tools as many times as you'd like, wherever you are: play them at your computer at work or home, in your car, or on your personal audio device.

Each On Demand Packs includes:

  • Recordings and transcripts of the presentation
  • All presentation visual aides and handouts
  • All ancillary reading materials suggested by our presenters

For a complete list of available On Demand Packs from past teleconferences, click here.

BVR's Satisfaction Guarantee:
Business Valuation Resources offers a complaint resolution and refund policy with a 100% money-back guarantee. If you are not completely satisfied with your conference experience, or have any concerns or complaints, you may contact Business Valuation Resources at (503) 291-7963 ext. 102 for a satisfactory resolution of your concern or you may submit a written request for a full refund of this program to Stephanie Crader at: or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.