Texas Court Backs Fair Value For Oppressed Shareholders

Law360, New York (July 27, 2012, 10:08 PM EDT) -- A Texas appeals court affirmed Friday that minority shareholders who have been oppressed can redeem their shares for fair value, even when a minority stakeholder signed a contract requiring redemption to be based on book value.

The Texas Fifth Court of Appeals in Dallas upheld a trial court's finding of shareholder oppression and said it was appropriate for the trial court to require the shares to be based on fair value.

The case arose from a dispute between two cardiac perfusionists, who operate special machinery during...
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