Legal Opinion
Kaplan v. First Hartford Corp.
District Court, D. Maine
Decided April 2, 2007No. Civil 05-144-B-HPublishedCited by 2 opinions
1Opinion of the Court
FINDINGS OF FACT AND CONCLUSIONS OF LAW
HORNBY, District Judge.
This lawsuit is an effort by a 19% shareholder to realize fair value from his ownership of a publicly held, but thinly traded, Maine corporation. In his view, fair value is higher than the price the market will pay for his shares. Although the corporation is public, its shares are not listed on an exchange. A 43% 1 shareholder controls the corporation. The 19% shareholder claims that the 43% shareholder has been operating the corporation oppressively for the benefit of himself, his family and other wholly owned entities. The 43%…
2Cases cited17 opinions
- Baker v. Commercial Body Builders, Inc.Oregon Supreme Court · 1973
- Scott v. Trans-System, Inc.Washington Supreme Court · 2003
- Fox v. 7L Bar Ranch Co.Montana Supreme Court · 1982
- Brenner v. BerkowitzSupreme Court of New Jersey · 1993
- Scott v. Trans-System, Inc.Washington Supreme Court · 2003
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3Cited by2 opinions
- Kaplan v. First Hartford Corp.District Court, D. Maine · 2010
- Kaplan v. First Hartford Corp.Court of Appeals for the First Circuit · 2011