Partner Seth Ottensoser Lectures at Harvard Law School

Bernstein Liebhard LLP Partner Seth Ottensoser recently lectured on corporate finance at Harvard Law School. The topic of his lecture was “Global v. Golden and Maric v. Plato: The Importance of Discounted Cash Flow Analyses in Delaware Litigation.” These recent decisions from the Delaware Court of Chancery shed light on determining appropriate metrics and inputs for discounted cash flow analyses, including terminal multiples, tax rates, and beta and equity risk premiums (for purposes of establishing the weighted average cost of capital). These decisions also reiterate the importance of full disclosure of the inputs in a discounted cash flow analysis when seeking shareholder action in connection with a transaction valued by way of a discounted cash flow analysis.