Stewart v. D. J. Stewart & Co.

The defendant D. J. Stewart & Company, an Illinois corporation (hereinafter STEWART), was merged into the defendant D. J. Stewart & Company, a Wisconsin corporation (hereinafter STEWART, WISCONSIN), the wholly owned subsidiary of the Illinois corporation. The plaintiffs, as minority stockholders of the Illinois corporation, sued to determine the fair value of their shares pursuant to section 70 of the Illinois Business Corporation Act (Ill. Rev. Stat. 1973, ch. 32, par. 157.70). 1 The judge, after a bench trial, entered judgment valuing the plaintiffs’ shares at *660 per share and awarded…