Cashed-Out Minority Not Statutory Dissenters

Business Valuation UpdateVol. 8 No. 10
Legal and Court Case Update
October 2002

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6712 Offices of Bank Holding Companies
551111 Offices of Bank Holding Companies
shareholder dissent/oppression
fair value, minority shareholder, cash-out merger
Gagliano v. Brennan (II)
173 N.J. 177, 801 A.2d 245, 2002 N.J. LEXIS 1071
July 16, 2002
US
State Court
New Jersey
Supreme Court
Per Curiam

Summary

This case is on appeal from the New Jersey Court of Appeals case, 2001 N.J. Super. LEXIS 331, that was abstracted in the October 2001 issue of the BVU.

See Also

Gagliano v Brennan (II)

Full Text of Court Cases
July 16, 2002

The price offered in a cash-out merger was not fair value, but the minority shareholders that were to receive only cash in the cash-out merger were not statutory dissenters.