Melick v. Nauman Vandervoort, Inc.

After a trial on the merits, judgment was entered against the defendant by the trial court on plaintiffs’ action for damages resulting from the incorrect valuation of plaintiffs’ stock which had been redeemed by defendant corporation. Damages were assessed by the trial court in the amount of $7,720 for plaintiff Melick and $3,860 for plaintiff Phillips.

An agreement was entered into between plain tiffs and the defendant whereby the defendant corporation would redeem its stock, owned by the plaintiffs, for its book value per share, as determined by acceptable accounting principles. The parties…