SEDA Expert Mitchell I. Gordon was retained to provide his expert opinion on the adequacy of the process and procedures followed by an investment banking firm in an international media industry private placement transaction.
THE CASE
An investment banking firm was retained to provide private placement services for a media company, but they were unsuccessful in their efforts. The media company was subsequently sold to a third party, and the investment banking firm filed a lawsuit claiming they were owed an M&A fee. The matter was complicated by the fact that the agreement the investment banking firm relied upon in the lawsuit was with a company associated with the parent company but not the correct corporate entity. In addition, the investment banker, for a certain period of time, was not associated with a broker/dealer. Our client asked for an opinion on whether the investment bankers had followed FINRA rules and normal and customary investment banking practices.
THE EXPERTS' ROLE
SEDA Expert Mitchell I. Gordon prepared an opinion based on over 40 years of experience as an international investment banker and a C-suite executive, including running two investment banking boutiques and working for a leading media industry company. He brought his insights on broker/dealer requirements and other FINRA-regulated entities. His work examined, among other things, the internal KYC procedures followed by the investment banking firm, and he used his decades-long experience in negotiating engagement letters (as both an investment banker and as a client of investment banking firms) to ascertain if the investment banking firm was regulatory compliant and if it followed customary and adequate procedures.
THE RESULT
The case was settled soon after our expert’s opinion was received, to the satisfaction of our client.
EXPERT INVOLVED
Mitchell I. Gordon
Mitchell Gordon has over 40 years of experience as a C-suite executive (at both public and private companies), as a partner at a private equity firm and as a partner at a bulge bracket investment banking firm. He has extensive SPAC (Special Purpose Acquisition Companies) experience having served as President and CFO and serving on the boards of 2 SPACs. He brings significant expertise in investment banking, M&A, start-ups, corporate governance and restructuring transactions and has extensive expertise in logistics and transportation, media and specialty finance.
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