U.S. Bank N.A. v. Cold Spring Granite Co.

OPINION

WORKE, Judge.

Following a reverse stock split and redemption of appellants’ resulting fractional shares of respondent-corporation, appellants asserted this action in district court, seeking judicial valuation of their interest. The district court determined that appellants had no right to a judicial valuation under the Minnesota Business Corporations Act and, accordingly, entered judgment in favor of respondents. We affirm.

FACTS

Appellants are several trusts — which owned shares of respondent Cold Spring Granite Company (CSG) — and their trustees. Respondents are CSG; its majority…