Jensen v. Christensen & Lee Insurance

This is an appeal by Dean A. Jensen, a minority stockholder and former employee of a close corporation known as Christensen & Lee Insurance, Inc. He claims that the directors of the corporation violated the public policy of this state by terminating his employment, thus triggering a stock buyout at a low purchase price which redounded to the financial benefit of the directors. He made a claim for relief which he now argues is based upon secs. 180.307 and 180.355, Stats. He asserts that these statutes prohibit such a "squeeze out" because it is a willful failure to deal fairly with a…