Foard v. Avery County Bank

HUNTER, Judge.

Anne Carson Foard (“plaintiff’) appeals from an order dated 1 April 2004 dismissing her action for judicial appraisal of shares of stock in Avery County Bank prior to its merger with First Citizens Bank & Trust (collectively “defendants”)- For the reasons stated herein, we reverse the dismissal.

In 2003, First Citizens Bank & Trust (“FCB”) purchased and merged with Avery County Bank (“ACB”). As required by N.C. Gen. Stat. § 55-13-20 (2003), ACB sent a notice on 27 June 2003 to all shareholders, including plaintiff, regarding a special meeting on 5 August 2003 to consider and vote…