MPI, a prestigious national consulting firm founded in 1939 specializing in business valuation, litigation support and corporate advisory work, has opened a Philadelphia office to serve as national headquarters for its new forensic accounting and economic damages practice. MPI’s Philadelphia office will also support its growing Pennsylvania client base, as well as its traditional business valuation and litigation support services.
MPI Expands Commercial Damage Litigation and Forensic Accounting Services MPI continues its expansion of client services into complex commercial damages and forensic accounting projects with the hiring of James T. O’Brien, CPA/CFF. Mr. O’Brien brings almost 30 years of experience providing clients with expert witness services. Mr. O’Brien has focused his practice on providing damage calculations in complex commercial litigation and forensic accounting investigations. In addition, Mr. O’Brien frequently assists clients in documenting insurance claims such as flood, fire, or theft losses that impact business operations.
MPI is proud to announce that Stacy Statkus has joined the firm as a Senior Vice President. Ms. Statkus brings a unique skillset to MPI after more than 16 years of experience in the litigation consulting, forensic accounting and business valuation realm. Her areas of expertise include matrimonial litigation involving high net worth individuals, celebrities, professional athletes, CEO’s and other C-suite executives, as well as other business owners and their spouses. Ms. Statkus is routinely engaged to conduct tracing analyses of separate and marital property and to identify and quantify living expenses and income available for spousal and child support.
In general, a fairness opinion is an analysis conducted by a third party valuation firm or investment bank that assesses whether the terms of a transaction are fair, from a financial point of view. If properly done, a fairness opinion is a powerful method to protect boards of directors, trustees and other corporate fiduciaries (collectively referred to herein as fiduciaries) from transaction-related liability. Unfortunately, too often, fiduciaries associate fairness opinions with acquisitions of large, public companies. Indeed, obtaining a fairness opinion is a best practice when considering a wide range of transactions, including minority redemptions, recapitalization, combinations and spin-offs, just to name a few. Moreover, a fiduciary’s duty of care is no less important when such transactions involve a closely-held company. Deeming fairness opinion studies too expensive, time consuming, or simply unnecessary, fiduciaries of privately held firms routinely engage in corporate transactions without relying on them. In reality, however, these same fiduciaries may, in fact, be more at risk than their publicly traded counterparts due to heightened appearances of conflicts of interest and self-dealing.