U.S. Bank, N.A. v. Cold Spring Granite Co. (I)

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September 14, 2010

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1423 Crushed and Broken Granite
breach of fiduciary duty
U.S. Bank, N.A. v. Cold Spring Granite Co. (I)
788 N.W.2d 160; 2010 Minn. App. LEXIS 142
US
State Court
Minnesota
Court of Appeals
Schmidt Financial and Neil Lapidus (plaintiffs); Arthur Cobb and Jason Vavra (defendants)
Worke

Summary

Appellate court affirms that, absent showing of fraud, a board’s determination of fair value in the context of a reverse stock split is conclusive.
U.S. Bank, N.A. v. Cold Spring Granite Co. (I)
PDF, Size: 151 KB

See Also

In Minnesota, Directors’ Determination of FV Is Binding, Absent Fraud

Legal and Court Case Update
December 2011

Appellate court affirms that, absent showing of fraud, a board’s determination of fair value in the context of a reverse stock split is conclusive.