United States Court of Appeals FOR THE EIGHTH CIRCUIT ___________ Nos. 99-3114/3178/00-2234 ___________ Thomas A. Swope, Judy N. Swope, * Estate of O.W. Schneider, Jr., by * and through personal representatives * for the Estate of O.W. Schneider, * Jr., Tracy Leigh Schneider Morris; * O.W. Schneider, III; Kris Douglas * Schneider; Melody Dawn Schneider; * Mark William Schneider; Tracy * Appeals from the United States Leigh Schneider Morris; O.W. * District Court for the ...
8th Circuit Rejects Discounts for Marketability, Minority in Missouri Dissenting Shareholders' Appeal
The 8th Circuit reviewed de novo Swope v. Siegel-Robert, 74 F. Supp. 876 (E.D. Mo. June 23, 1999) (abstracted in BVU October 1999).
Shareholders were offered $20 per share in a squeeze-out merger, effective July 31, 1997.
Shareholders were offered $20 per share in a squeeze-out merger, effective July 31, 1997. Shareholders owning 426,900 shares dissented. The Court determined a fair value of $63.36 per share ...
CSC effectuated a reverse stock split, intended to result in the corporation redeeming Briggs' 25% stock interest at its book value of $769,814.
Issue was the fair value of Briggs' 25% stock interest, and whether it should be discounted for minority status.
At issue is the valuation of stock gifted by the petitioner.