Chokel v. First National Supermarkets, Inc.

The defendant, First National Supermarkets, Inc. (First National), appeals from the judgment in a stock appraisal action filed pursuant to G. L. c. 156B, §§ 86-98 (1994 ed.), in which the plaintiff, Jeffrey D. Chokel, dissatisfied with the price offered in the merger-leveraged buy-out of First National, sought appraisal of 16,997 shares. The judge appraised the value of Chokel’s shares at $29.78 per share and awarded him prejudgment interest at the rate of twelve per cent per annum, compounded annually. First National appeals alleging that the trial judge erred: (1) in allowing Chokel’s…