Cornerstone Research was retained by counsel representing hedge fund minority shareholders of an electronic brokerage company. Cornerstone Research was retained by counsel representing hedge fund minority shareholders of an electronic brokerage company. The majority owner of that company entered into a cash transaction that broke the company up into several parts. One part was sold to a publicly traded competitor and another to a group comprising the company’s management and a private equity firm. However, between the time that the transaction was announced and when it closed almost eight months later, market valuations for the target company’s industry rose substantially. Despite this, the majority owners of the company did not renegotiate the transaction, requested no new fairness opinio

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