Blackburn v. TKT AND ASSOCIATES, INC.

Minority shareholders, Kent Blackburn and Allison Minnich, appeal an order denying their objections to a court-ordered appraisal of common stock of Respondent, TKT and Associates, Inc., (TKT) for the purpose of a shareholder buyout. We affirm.

FACTS

In late 2002, TKT was formed by Blackburn, Tina Carver, and Tony Windham to sell durable medical equipment (DME). 1 The corporation was funded by a loan for $50,000, which each incorporator co-signed. Upon receiving the necessary authorization to provide DME through Medicaid, the business began operations under the name Carolina Mobility. Shortly…