Hesston Corp. v. Kays
Supreme Court of Kansas
1Opinion of the Court
The opinion of the court was delivered by
Allegrucci, J.:
This case involves a dispute between Hesston Corporation (Hesston) and certain holders of its $1.60 Preferred Stock (dissenters) over the price the. dissenters should receive for their stock for the purpose of a cash-out merger. Hesston initiated the action, seeking appraisal of the stock under K.S.A. 17-6712 and validation of the terms of the merger. Dissenters counterclaimed for recovery of the stock’s redemption value plus accrued dividends. They alleged breaches of contract and of fiduciary duty. The district court ruled that the…
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