Mercantile Bank & Trust v. Cunov

OPINION

DIAL, Justice.

This is an appeal of an action based upon the wrongful purchase of corporate stock at a private foreclosure sale by defendant Mercantile Bank & Trust. The stock was owned by plaintiff Eileen Cunov and held as collateral under a security agreement. The stock was neither customarily sold in a recognized market nor the subject of widely distributed standard price quotations. The jury verdict and trial court judgment awarded the plaintiff $879,934.00 based on the fair market value of the stock less the amount of indebtedness it secured. The judgment allowed the recovery of…