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

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September 7, 2011

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1423 Crushed and Broken Granite
breach of fiduciary duty
U.S. Bank, N.A. v. Cold Spring Granite Co. (II)
802 N.W.2d 363; 2011 Minn. LEXIS 548 (Minn. 2011)
US
State Court
Minnesota
Supreme Court
Schmidt Financial and Neil Lapidus (plaintiffs); Arthur Cobb and Jason Vavra (defendants)
Anderson

Summary

Minnesota Supreme 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. (II)
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See Also

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

Legal and Court Case Update
December 2011

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