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Restructuring Expenses and Provision for Settlement | 12 Months Ended
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Apr. 30, 2013
Restructuring and Related Activities [Abstract] |
Restructuring Expenses and Provision for Settlement | Note 15- Restructuring Expenses and Provision for Settlement: In fiscal 2011, expenses for professional fees including the cost of the proxy solicitation for the Value Line Funds, of $3,764,000 were associated with the Restructuring Transaction that was completed on December 23, 2010. The Company’s policy was to expense those costs as incurred. In November 2009, the Company concluded a negotiated settlement with the SEC as a result of an investigation into former brokerage practices (the “Settlement”). To comply with the SEC order, the Company during fiscal 2011 disassociated itself from the former Investment Adviser and broker-dealer operations in the previously defined Restructuring Transaction. 6155799223l30i71g61jig5436kljg43 As required by the Settlement, the SEC created a “Fair Fund” pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002. The Fair Fund is being used to reimburse shareholders who owned shares in the affected Value Line Funds in the period covered by the Settlement. The Company is required to bear all costs associated with the Fair Fund administration, including compensating a third party consultant appointed by the SEC to administer the Fair Fund distribution. The SEC has appointed A.B. Data, Ltd., which has no affiliation with the Company, as the Administrator of the Fair Fund. During fiscal 2011, the Company reduced its estimate of the remaining costs of administration of the Fair Fund and other costs associated with the Settlement by $1,767,000. The provision for settlement included anticipated costs of Fair Fund administration as well as certain fees and costs arising from the Settlement and the Restructuring Transaction. During fiscal 2013, 2012 and 2011, the Company made payments to the Administrator of the Fair Fund aggregating $32,000, $1,189,000 and $2,783,000, respectively. The Company believes that the outstanding provision for settlement in the amount of $243,000 reflected as a liability in the Consolidated Balance Sheet at April 30, 2013, is sufficient to meet the remaining obligations of the Fair Fund administration.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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