Biberstine v. New York Blower Co.
Indiana Court of Appeals
1Opinion of the Court
RUCKER, Judge.
Upon termination as Vice President of the Mechanovent Corporation, Reid Biber-stine made several alternative requests of the New York Blower Company and its Board of Directors. New York Blower Company (NYB) is the parent of Mechano-vent Corporation (Mechanovent). Biber-stine sought to either (a) keep his shares of stock in NYB or (b) sell the shares to NYB and then repurchase them, or (c) sell the shares to NYB under the provisions of a stock redemption offer. NYB rejected Biberstine's requests, cancelled his shares of stock, and paid him a predetermined price for them.…
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