William B. McCallum v. Rosen's Diversified

BEAM, Circuit Judge.

William B. McCallum, a minority shareholder in Rosen’s Diversified, Inc. (RDI), appeals from two adverse grants of summary judgment. McCallum seeks to have his shares in RDI redeemed for fair value pursuant to a court ordered buy-out. The district court held that McCallum failed to present evidence showing that RDI acted unfairly prejudicial toward him. We reverse and remand for a determination of the fair value of McCallum’s shares.

I. BACKGROUND

This case involves a contentious dispute between the minority and controlling shareholders of a closely held Minnesota…