Sands Point Land Co. v. Rossmoore

This is a special proceeding instituted by Sands Point Land Company, Inc., a New York corporation, to determine the rights of a dissenting shareholder of said corporation and to fix the fair value of his shares of stock pursuant to section 623 of the Business Corporation Law. The relief prayed for in the petition is as follows: (1) That the court determine whether respondent has complied with the provisions of section 623 of the Business Corporation Law; (2) that the court determine the value of respondent’s stock in accordance with said section 623 and find it to be the price offered by…