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

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3471 Electroplating, Plating, Polishing, Anodizing, and Coloring
332813 Electroplating, Plating, Polishing, Anodizing, and Coloring
shareholder dissent/oppression
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

Full Text of Court Cases
October 30, 1998

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