Ira Ex Rel. Oppenheimer v. Brenner Companies, Inc.

COZORT, Judge.

Plaintiffs, minority shareholders of stock in defendant corporation, filed suit in superior court contesting the forced sale of the minority shareholders’ stock, commonly referred to as a corporate “freeze-out.” The trial court granted summary judgment in favor of defendant corporation and the company’s majority shareholders. We find the principal issue raised by plaintiffs’ claims concerns the value of the stock and that the statutory appraisal proceeding provided in N.C. Gen. Stat. Chapter 55 (now Chapter 55A) is plaintiffs’ exclusive remedy. We affirm summary judgment for…