Price Paid PA&E Stockholders

Business Valuation UpdateVol. 4 No. 7
Legal and Court Case Update
July 1998

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8712 Architectural Services
541310 Architectural Services
ESOP valuations
adequate consideration, erisa
Howard v. Shay (remanded to District Court)
1998 U.S. Dist. LEXIS 23146
June 12, 1998
US
Federal Court
California
United States District Court
Mr. Chester A. Gougis (for plaintiff) <br> Arthur Young & Company (for defendant)
Tevrizian

Summary

This is the latest installment in the lengthy saga of Howard v. Shay , a case of ESOP participants suing for undervaluation on termination of the ESOP and sale of its 38.6% stock interest to a trust controlled by the controlling stockholder.

See Also

Howard v. Shay (remanded to District Court)

Full Text of Court Cases
June 12, 1998

At issue is breach of ESOP fiduciary duties.