Business Aviation of South Dakota, Inc. v. Medivest, Inc.

RUSSON, Justice:

Defendants Medivest, Inc. (Medivest), and the five members of its board of directors appeal from that portion of the trial court’s entry of final judgment which held that (1) the Medivest shares of stock issued to three members of the board on July 13, 1988, are control shares subject to the provisions of the Control Shares Acquisitions Act, Utah Code Ann. §§ 61-6-1 to -12, and (2) the Medivest shares of stock owned by plaintiffs, who are Medivest shareholders, are not control shares subject to the same act. We affirm.

FACTS

Commeneing July 12, 1988, plaintiffs each signed a…