Reverse Stock Split Cash-Out Challenge Gets Holder Nine Times Amount Offered

Business Valuation UpdateVol. 4 No. 12
Legal and Court Case Update
December 1998
3471 Electroplating, Plating, Polishing, Anodizing, and Coloring
332813 Electroplating, Plating, Polishing, Anodizing, and Coloring
dissenting shareholder
fair value

Connector Service Corp. v. Briggs
1998 U.S. Dist. LEXIS 18864
October 30, 1998
US
Federal Court
Illinois
United States District Court
Robert Stillman (for Connector Service)<br>David Fischel (for Connector Service)<br>Gilbert Matthews, CFA (for Briggs)
Leinenweber

Summary

CSC effectuated a reverse stock split, intended to result in the corporation redeeming Briggs' 25% stock interest at its book value of $769,814.

See Also

Connector Service Corp. v. Briggs

Issue was the fair value of Briggs' 25% stock interest, and whether it should be discounted for minority status.