CRA’s Tiago Duarte-Silva led a team that assisted counsel representing minority shareholders in an arbitration claim involving allegations of minority shareholder oppression. The minority shareholders’ oppression claims centered around the divestment of their equity stake in a company operating one of North American’s largest online retail brokerages, which provides access to stock and option markets and other securities trading.
Dr. Duarte-Silva filed multiple expert reports and provided oral testimony at the hearing on key valuation issues including the significance of forecasts in the valuation process, management’s incentives, and third-party valuers’ role in the evaluation and adjustment of management forecasts.
The CRA team conducted a rigorous analysis of the company’s management forecasts and assessed their plausibility. On the basis of this analysis, CRA was able to assess which management forecasts were the most reliable for valuing the minority shareholders’ equity stake.
Dr. Duarte-Silva was supported by a CRA team that included Dr. Zawadi Lemayian, Dr. Rahul Chhabra, Tahsin Anjum, Michelle Sandoval-Siman, Aidan Westley, Alene Hanson, and Ken Morotomi.
