Legal Briefs - A Periodic Summary of Judicial Decisions Affecting Accounting and Financial Services Professionals

In This Issue:

• Third Circuit Finds Market Price More Probative Than Experts in Establishing Valuation of Subsidiary at Time of Spin Out
• Court Rejects Challenge to Expert Testimony on Extent of “Lost” Market Due to Defendant’s Breach of Contract
• Court Dismisses Negligence Claim That Tax Preparer Failed to Advise Spouse of Potential Liability for Husband’s Tax Obligations
• Computer Abuse Can Lead to Stiff Penalties
• Professional Service Firms Are on the Hook for Employees’ Acts Performed “Within the Scope of Their Employment”
• Taxpayer Found Entitled to an Evidentiary Hearing in IRS Summons Enforcement Proceeding

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