Shobe v. EPI CORP.

SPAIN, Justice.

Appellants and real parties in interest (minority shareholders) appeal as a matter of right a November 28, 1990, Order of the Court of Appeals which unanimously granted the appellees’ petition for writ of prohibition. We reverse.

EPI is a Kentucky corporation in the business of owning and operating long-term health care facilities. On December 30, 1985, EPI consummated a “going private” merger with TAI Corporation. The effect of the merger was to “freeze out” the minority shareholders of EPI, who represented approximately twelve percent of the outstanding voting stock. The…