Defender Properties, Inc. v. Doby

Finney, Justice:

Appellant C. Coleman Doby, a minority shareholder of Respondent Defender Properties, Inc. (Defender), appeals from a circuit court order denying his motion for a jury trial in a stock valuation suit. We affirm.

Defender had three shareholders and 58,824 shares of common stock outstanding. Doby owned 8,824 shares and the remaining 50,000 shares were held by two other shareholders. Doby dissented to a planned merger of Defender and Kimco Properties, Inc.,.and asserted dissenter’s rights under S.C. Code Ann. § 33-13-200 (1990), as amended. The merger was approved by the majority…