Fair Market Value of Minority Interest Upheld in Corporate Freeze-Out

Business Valuation UpdateVol. 9 No. 12
Legal and Court Case Update
December 2003

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0919 Miscellaneous Marine Products
114119 Other Marine Fishing
economic damages & lost profits
expert testimony, shareholder oppression, closely held corporation, fair market value (FMV), minority interest
Missala Marine Services, Inc. v. Jenny Kay Odom
No. 2000-CA-01192-SCT (Miss. 2003)
June 12, 2003
US
State Court
Mississippi
Supreme Court
H. Kenneth Lefoldt, Jr., CPA, Jerry Levens
Graves, Jr.

Summary

The issue in this stockholder oppression action was whether there was sufficient evidence to support the jury award of $120,000 in compensatory damages to Jenny Kay Odom, a 10% stockholder of Missala Marine Services Inc.

See Also

Missala Marine Services, Inc. v. Jenny Kay Odom

Full Text of Court Cases
June 12, 2003

The Supreme Court of Mississippi affirmed a jury’s award of compensatory and punitive damages.