Acree v. E. I. F. C., Inc.

CULLEN, Commissioner.

We have four consolidated appeals involving claims by stockholders of E.I.F.C., Inc. (formerly known as Educators Investment Finance Corporation), against the corporation, for payment of the fair market value of their shares as of the time a merger was effected with T.S.I., Inc. The stockholders claimed to be “objecting shareholders” within the meaning of KRS 271.490, as to the merger, and therefore entitled to payment for their shares. The circuit court entered judgment rejecting all of the claims, and the stockholders have appealed.

Under KRS 271.415 and 271.490, to…