Summary
At issue is whether the district court erred as a matter of law in not applying a lack of marketability discount when evaluating Follett's stock.
See Also
No Marketability Discount Applied to Determine Fair Value of Oppressed Shareholder's Stock
The issues in this breach of fiduciary duty case were: (1) whether a discount for lack of marketability should be applied in valuing a minority shareholder's shares when the sale results in the buyer becoming the sole owner of the company; (2) whether a minority shareholder has a fiduciary duty to other shareholders; and (3) whether the trial court abused its discretion in making the payment to the minority shareholder payable over 10 years.