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

Business Valuation UpdateVol. 17 No. 12
Legal and Court Case Update
December 2011

Access the Full Article

This article is available with a subscription to any of these products:
Already a subscriber?  Login
This article is also available for purchase. (2,687 words)   Add to Cart >>
Need help? Contact us:
1-503-479-8200 ext 2 or sales@bvresources.com
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
September 14, 2010
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.

See Also

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

Full Text of Court Cases
September 14, 2010

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.