In Re Determination Pursuant to Chapter 31, Article 1, Sections 122 & 123 of the Code of West Virginia of 1931, Amended, of Fair Value of Shares of Bank of Ripley

MILLER, Justice:

This appeal is by shareholders who own approximately 23 percent of the common stock of the Bank of Ripley (the Shareholders). When the Bank of Ripley and a subsidiary of City Holding Company announced their intentions to merge, 1 the Shareholders sought to exercise their dissenters’ rights under W.Va.Code, 31-1-123. Because the Bank and the Shareholders could not agree on the fair value of the Shareholders’ stock, the Shareholders filed suit in order to resolve the issue. In an order dated July 19,1989, the Circuit Court of Jackson County granted the Bank’s motion for summary…