Judicial Buyout at Fair Value Trumps Buy-Sell at Book Value

Business Valuation UpdateVol. 18 No. 11
Legal and Court Case Update
November 2012
3841 Surgical and Medical Instruments and Apparatus
dissenting shareholder

Cardiac Perfusion Services, Inc. v. Joubran
2012 Tex. App. LEXIS 6134
July 26, 2012
US
State Court
Texas
Court of Appeals
Travis Keath (minority shareholder); Lane McDaniels (majority owner)
Lang-Miers

Summary

Texas court of appeals affirms equitable award of fair value for oppression of 10% minority shareholder at “enterprise value” rather than at book value of buy-sell agreement, and upholds $300,000 award based on expert’s enterprise valuation.

See Also

Cardiac Perfusion Services, Inc. v. Joubran

Texas court of appeals affirms equitable award of fair value for oppression of 10% minority shareholder at “enterprise value” rather than at book value of buy-sell agreement, and upholds $300,000 award based on expert’s enterprise valuation.