The defendants in a fraudulent conveyance action brought by the trustee of a bankrupt hospital retained CRA to prepare solvency analysis. The trustee attempted to recover loans that were made before the hospital entered bankruptcy, but both the bankruptcy court and district court ruled the hospital was solvent. CRA’s expert ultimately demonstrated that the hospital was solvent, and The Seventh Circuit Court reversed the bankruptcy and district court decisions.
Section 11 damages computation for direct listings
In September 2021, the Ninth Circuit ruled in Pirani v. Slack Technologies, Inc.[1] (Slack) that Section 11 liability applies to direct listing shares. This...