Bjorn Steinholt is a Managing Director with more than 25 years of experience providing capital markets consulting, including financial and economic analyses relating to mergers and acquisitions, initial public offerings, fairness opinions, private placements, venture capital investments, structured finance, portfolio risk management, market structure, performance measurement, option and warrant valuations and shareholder disputes.
Mr. Steinholt has provided expert testimony in numerous state and federal courts, including shareholder disputes involving the AOL-Time Warner merger, HealthSouth International accounting fraud and the collapse of the Cheyne SIV and Lehman Brothers. His testimony frequently involves analyzing market efficiency, price impact, materiality, loss-causation and economic damages, using both fundamental valuation methodologies and financial econometrics. Among other things, in Household International, the Court adopted Mr. Steinholt’s guidance and applied the prime rate (rather than 1-year constant maturity treasury rate) when calculating pre-judgment interest, a difference of more than $600 million in the final judgment.
Mr. Steinholt has also provided litigation consulting in cases relating to Lincoln Saving and Loan, the NASDAQ Market Makers antitrust case, Enron Corporation, Worldcom, Tyco International, UnitedHealth Group options backdating, Countrywide Financial and AIG. In addition, Mr. Steinholt has significant financial valuation experience relating to common stock, warrants, options, preferred stock, debt instruments, partnership interests and structured investments. Mr. Steinholt’s clients include corporations, government entities, law firms and large institutional investors.
Prior to joining Caliber, Mr. Steinholt was a founding principal at Financial Markets Analysis (FMA), focusing on capital market consulting and litigation support primarily in shareholder disputes. Prior to FMA, Mr. Steinholt was a Principal with Business Valuation Services (BVS), where his work included valuations of businesses and financial securities generally for SEC reporting purposes. Prior to BVS, Mr. Steinholt was a senior vice president at Princeton Venture Research, where his work included identifying and evaluating prospective emerging technology companies in need of venture capital funding.
Mr. Steinholt holds a Master of International Business degree from the University of San Diego, and a Bachelor of Science degree in Computer Science and Engineering from California State University, Long Beach. He has also earned the designation Sivilingeniør from the University of Trondheim, Norway, and the designation Chartered Financial Analyst (CFA) from the CFA Institute.