Courts Scrutinize Fairness Opinions by Investment Banks
Fairness opinions by investment banks in corporate transactions have come under recent scrutiny. Although there has been considerable academic literature on the subject, cases imposing liability for issuing such opinions remain relatively sparse. Attorney Tariq Mundiya discusses a 7th Circuit ruling that addresses the liability of investment banks for issuing fairness opinions and highlights the importance of the investment bank's engagement letter and the qualifications in the fairness opinion itself.
