Pritchard v. Mead

SCOTT J.

Edward Pritchard appeals from a summary judgment granted to William Mead and Rainfair, Inc. (collectively, "Rainfair"). Pritchard raises three issues on appeal: (1) whether sec. 180.72, Stats., represents an objecting stockholder's exclusive remedy; (2) whether substantial compliance with the statute is sufficient; and (3) whether the statute is constitutional. Finding none of Pritchard's arguments persuasive, we affirm.

Pritchard, a Rainfair employee for several years, owned forty shares of its stock. Until October 28, 1988, William Mead was Rainfair's president, CEO and majority…