Table 37 Summary of Restricted Stock Studies All of these studies identified median or average discounts in the range of 20‐45% for prices of non‐marketable stocks in comparison to marketable shares which were otherwise deemed to be comparable. The average discount for the studies noted above is 30% and the median value is 32%. Court Decisions Further guidance for marketability discounts can be found in various court decisions. These decisions provide insight into the discounts accepted in various circumstances. We look at evidence from court decisions, not to cite as direct evidence in this case, but to review how courts have previously interpreted the objective evidence presented. In addition, we look to court cases for general guidance concerning the nature of evidence deemed acceptable in previous decisions. The table below is a list of high profile court decisions that dealt with the complicated and intricate process of producing a DLOM. This is not a complete list
