Craven v. Kilgore Funeral Home, Inc.

Kilgore Funeral Home, Inc. (corporation), filed a complaint against Johnnie Craven, a dissenting minority shareholder, pursuant to Ala. Code 1975, § 10-2A-163. The corporation requested that the trial court determine and assign a fair market value to Craven's shares of common stock.

During the course of this litigation, Johnnie Craven died, and her son, Daniel H. Craven, Jr., the executor of her estate, was substituted as the defendant.

On March 2, 1994, the trial court issued an order, wherein it determined that the fair market value of the common stock owned by Craven was $125,000. There was…