General Securities Corp. v. Watson

Carleton Harris, Chief Justice.

This litigation results from the inability of Lavon V. Watson and Dr. Phil Deal, appellees herein1, of Washington County, to agree with appellant, General Security Corporation, on the “fair value” of stock owned by appellees in Arkansas Factors, Inc. and First Financial Corporation, these two companies being merged with appellant, the surviving corporation. The plan of merger provided for 8 shares of Arkansas Factors for 1 share of General Security.1a Watson owned 10,000 shares of Arkansas Factors, Inc. and 10,000 shares of First Financial Corporation. Deal…