Pueblo Bancorporation v. Lindoe, Inc.

In my view, defining “fair value” so to extinguish the possibility of marketability discounts in dissenters’ rights actions represents a policy decision that the General Assembly must make. Our statute is, as the majority notes, ambiguous. Colorado courts, with the exception of the court of appeals’ decision in this case, have never interpreted the language of the statute as precluding trial courts from considering a marketability discount in valuing dissenters’ shares. We must presume that the General Assembly is aware of those cases.

Despite the national trend to eliminate the marketability…