Federal Court Fashions ‘Unique’ Pricing Remedy in Shareholder Oppression Case

Business Valuation UpdateVol. 15 No. 6
Legal and Court Case Update
June 2009

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6552 Land Subdividers and Developers, Except Cemeteries
judicial dissolution
Kaplan v. First Hartford Corp.
2009 WL 737681 (D. Me.)
March 20, 2009
US
Federal Court
Maine
United States District Court
Guilliaem Aertsen (plaintiff); Nancy Fannon and Timothy Riddiough (defendants)
Hornby

Summary

An oppressed minority shareholder sought judicial appraisal of the First Hartford Corp., a company that managed and developed real estate through several subsidiaries, with several attributes that made it unique.

See Also

Kaplan v. First Hartford Corp.

Full Text of Court Cases
March 20, 2009

Federal district court conducts extensive analysis of expert evidence to make fair value appraisal of unique and complicated real estate development company, relying on net asset value and thinly traded stock market pricing, plus upward adjustments for im ...