Summary
The Supreme Court of Kansas heard an issue of first impression in this case: "Is it proper for a corporation to determine the 'fair value' of a fractional share pursuant to K.S.A. 17-6405 by applying minority and marketability discounts when the fractional share resulted from a reverse stock split intended to eliminate the minority shareholder's interest in the corporation?"
See Also
Arnaud v. Stockgrowers State Bank
At issue is the fair value of fractional shares that resulted from a reverse stock split intended to eliminate the minority shareholder's interest in the corporation.