Pluris Valuation Advisors Formed To Value Illiquid Assets; Affiliate Of Restricted Stock Partners To Value Restricted Securities, Stock Options.NEW YORK -- Pluris Valuation Advisors, Inc. announced its launch today in response to a growing need for expertise in valuing restricted securities and other assets that lack liquidity. Pluris, based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is an affiliate of Restricted Stock Partners, which manages the Restricted Securities Trading Network (RSTN RSTN Radio Solar Telescope Network RSTN Restricted Securities Trading Network RSTN Royals Sports Television Network (Kansas City Royals) RSTN Reflective Super Twisted Nematic ). To aid in its valuation analyses, Pluris has developed the LiquiStat(TM) database, compiling data from trades made through the RSTN. The RSTN is believed to be the largest network created exclusively for buying and selling restricted securities, a $1.2 trillion asset class, according to Depository Trust Clearing Corp. (DTCC DTCC See: Depository Trust and Clearing Corporation ). Pluris also announced the appointment of Espen Robak, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. as President. He was formerly with FMV FMV - full-motion video Opinions, Inc., a specialty valuation firm, where he directed the firm's restricted stock and blockage discount practice, and oversaw creation of "The FMV Restricted Stock Study." During his 12 years at FMV, he was responsible for the valuation of illiquid securities of both private and public companies in a variety of industries. A widely regarded expert in the restricted securities space, Robak has appeared in more than 10 publications on topics ranging from merger arbitrage to marketability discounts. He has earned the Chartered Financial Analyst Chartered Financial Analyst (CFA) An experienced financial analyst who has passed examinations in economics, financial accounting, portfolio management, security analysis, and standards of conduct given by the Institute of Chartered Financial Analysts. designation and holds an MBA and a bachelor's degree from the University of Oregon The University of Oregon is a public university located in Eugene, Oregon. The university was founded in 1876, graduating its first class two years later. The University of Oregon is one of 60 members of the Association of American Universities. . Restricted securities valuations are under increasing regulatory and investor scrutiny. Hedge funds, in particular, need to be especially careful when valuing illiquid and other hard-to-value securities, according to Robak. Part of the impetus for this change is the Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). (FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). ), which is scheduled to release new valuation guidelines later this month. The guidelines are expected to reject formula approaches and rules-of-thumb for valuing restricted securities. "Our affiliation with RSP RSP right sacroposterior (position of the fetus). gives Pluris exclusive ongoing access to industry leading data on restricted stock and warrant trades," Robak said. "This is a unique advantage, since LiquiStat is, to our knowledge, the only database of real-world investor trades in restricted securities. Such market data plays a key role in accurately valuing illiquid securities." "Since the formation of Restricted Stock Partners in 2004, we have been surprised by a lack of consistency in how restricted security holders value their positions," said Barry E. Silbert, Founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Restricted Stock Partners. "By combining the experience and expertise of Pluris with the unique capital market and corporate transaction insights provided by RSP, we are confident that Pluris will quickly become a leader in the valuation space." In addition to valuing portfolios of restricted stock, debt securities, warrants and other derivatives for hedge funds, private equity and venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: and other institutional investors, some of the valuation needs Pluris will help fill include: --Financial Reporting Valuation. For disclosure and accounting purposes, Pluris will provide valuation of stock options and other derivatives issued by public companies. --Tax Valuation. Pluris will value illiquid securities and other assets for estate tax, gift tax and income tax returns. --Transactional Opinions. Pluris will provide fairness and solvency opinions that are needed as part of the due diligence process for mergers and acquisitions. --Litigation Support. Pluris has experience providing shareholder litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. support services when expert assistance is required. "Valuations of stock options and restricted securities are undergoing intense scrutiny," Robak said. "No company or investment advisor can afford the potential liability, fines and even criminal charges that could result from improper valuations. Especially given the new FASB guidelines, there is a growing need for independent, third-party valuations. Pluris was created to help fill that need." About Pluris Valuation Advisors Pluris Valuation Advisors, Inc. of New York, N.Y., is a full-service valuation firm specializing in the valuation of restricted securities of public companies and other assets that lack liquidity. Additional information is available at www.PlurisValuation.com. About Restricted Stock Partners Restricted Stock Partners (RSP) of New York, N.Y., a division of Green Drake Capital Corp. (Member NASD/SIPC), manages the Restricted Securities Trading Network (www.RestrictedSecurities.net), providing liquidity and trading solutions to institutional and accredited investors who hold restricted securities positions in public companies. RSP also offers hedging strategies and other institutional services, such as restricted transaction approval; Rule 144, 145 and prospectus sales; prime brokerage services for hedge funds holding restricted securities, and block sales of stakes in public companies. Additional information is available at www.RestrictedStockPartners.com. |
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