Aug 17 2022
In a ruling that was not totally unexpected, Judge Florence Pan chose to exclude the testimony from Manuel Sansigre, senior v-p and global head of mergers and acquisitions for Penguin Random House, ruling that his numbers were not independently verified as required by precedent. She was especially critical of the revenue projections, which she said could not be based on models from prior mergers or past experience. In addition, she said the model, which was developed in November 2020, but updated more than 100 times, was itself unreliable because of the numerous updates.
The dispute involves PRH’s claims that its acquisition of Simon & Schuster would create “cognizable merger-specific efficiencies.” But according to previous court filings, PRH’s expert witness, Edward Snyder, conceded in his testimony that he did not seek to independently verify the numbers he used in forming his opinion on such efficiencies...
The Flower Sisters
by Michelle Collins Anderson
From the new Fannie Flagg of the Ozarks, a richly-woven story of family, forgiveness, and reinvention.
The House on Biscayne Bay
by Chanel Cleeton
As death stalks a gothic mansion in Miami, the lives of two women intertwine as the past and present collide.
The Funeral Cryer by Wenyan Lu
Debut novelist Wenyan Lu brings us this witty yet profound story about one woman's midlife reawakening in contemporary rural China.
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