An earlier Court of Appeals opinion in this case was abstracted in the September 2000 BVU.
One of the issues in this shareholder dispute was the proper measure of damages owed to minority shareholders who were bought out at substantially less than subsequent sale price to a strategic buyer.
Trial court errs in applying minority discount to a damage award, and failing to determine existence of "extraordinary circumstances" for basis of its marketability discount.
In the September 2002 issue of BVU, we abstracted the case of Powell v. Anderson, 2000), a case of minority oppression involving a claim for usurpation of a corporate opportunity.
Following trial, the district court found officers and directors with voting control of a closely held family corporation, Nyman Manufacturing Co., to be in breach.
Theory of Damages for Closely Held Company’s Officers’ Breach of Fiduciary Duty of Disclosure in Connection With Redemption of Corporate Stock Explored
The U.S. Court of Appeals considered the fiduciary duties between majority and minority shareholders in a closely held company and damages flowing from that breach.
We are asked to vacate a final opinion of the Minnesota Court of Appeals on the grounds that the author of the opinion, Judge Roland Amundson, was disqualified.